Tuesday, March 10, 2009

Oh Get Over Yourself

Polly Toynbee is terribly excited that we are in an ….‘anti-banker, anti-bonus spasm’ Martin Wolf of the FT , she points out last week expostulated: "I am no populist. Yet when I think of the sums earned by those responsible for dumping this mess on the UK taxpayer, it makes even my blood boil." She notes with satisfaction that … The advert for a new chairman of the Bank of England' has been re-advertised, asking for experience in "significant organisations in the private, public or voluntary sectors".
She sees the worlds salvation in closing tax havens and rounds off with a call for a 50% top rate now.
I think Raedwald was quite right , at some point last year any remaining credibility this silly old woman had finally slipped into the night . Week after week a manufactured turning point is reached for with increasing desperation , for Brown , against Brown for Brown like a teeny meeja okey cokey , its fun but hardly serious stuff. A minor spat about bonuses paid with Public money is not a call for world government and state hands on even more of our lives .
Do you know what the truth is about this public anger , it scarcely exists outside the media . Are people furious on the train , watching Eastendres . Nope , and with good reason . Thus far few are unemployed and those who are employed are far better off than they were . No-one except the idiot Brown thought there would be and endless boom and the idea that the world will become “Fair” or that this will in some way do them any good is regarded by most as childish.
The anger will come when taxes have to go up , when services have to be cut and when interest rates have to go up to counter the inflation we are building into the system. At this stage this is all a Press story and most people , quite sensibly divide the daily apocalypse by ten and call it a “Problem”.
Problems are annoying , not a good reason to create a socialist world with Polly Toynbee its leering queen


asquith said...

There was an interesting piece in the FT calling for Cameron to drop his inheritance tax property.

I agree. I always thought IHT was one of the least bad taxes, as it affects unearned wealth rather than the wages of low-paid workers.

But surely even if you are foaming at the mouth over IHT, you'd think that at a time of falling house prices, when only a few people in safe Tory seats would benefit from Ozzy Osborne's policies, it's about time to at least suspend the cuts.


See all the links if you're that bothered.

The days of rising house prices are over. The days when non-doms were a cash cow are also over. Perhaps now we can have real small businesses which do not need the state's "help" generating proper wealth.

But it seems to me that struggling wageowners & businessmen should take precedence over luvvies who will inherit large properties. Even if you don't agree morally, then politically inheritance tax is not & never will be paid by most people in marginal seats & the types the Tories are trying to win over. The policy should at least be suspended for a few years until prices start to rise, if ever. It is looking like a relic of the Blair years.

Sense you & I might differ on this issue. But who knows? We're not dealing with "aspiration" to something that will never going to happen, we're talking about people's struggle to make ends meet.

I myself am fighting a desperate battle to avoid the humiliation & utter defeat of moving back into my parents' house. I chose not to take on serious responsibilities but it's not as if I lead a life of luxury now.

Auntie Flo' said...

Spot on, newms. I stopped reading the Guardian, which I used to love, because of la Toynbee. And I stopped supporting Cameron for a time when he got chummy with her.

Fact checking Pollyanna says it all for me:


Your work contains too many serious factual errors and unattributed quotes, Ms Toynbee. I'm sick of this rich, Italian villa owning, champagne socialist.

Auntie Flo' said...

Perhaps now we can have real small businesses which do not need the state's "help" generating proper wealth. (Asquith)

Well said, Asquith!

Newmania said...

I disagree Asquith , the main motor of class mobility is multi generational and starting everyone at zero by taxing already taxed savings is a recipe for serfdom.
I disagree , hosue sproces are not that low and will go up again. Now is a good time to buy.

Rented accomodation is next to nothing and if you are shgort of money I suggest you look for employment . At lower elevs there is still plenty and failing that look around the country

This is what I have had to do .If you do have to move home set your self straight by getting soem skills that pay like Computers etc.

Thats life Asquith , do you think I dreamt of being an Insurance broker ?

Flo thanks and thanks for the link I willsave that( also yours A)

asquith said...

When the policy was unveiled, it was only going to affect a few people. It was sold on the premise that prices would continue to rise & that more people would be covered, which has obviously failed utterly to happen.

This is because we are, like, in a recession. Now you & I would differ over whether IHT should be cut if prices rise. But do you not see the political case for putting it on hold now?

I didn't refer to savings, as in bank accounts & that. I wouldn't as I have always been responsible & have several thousand in the bank & will have more in several years. I was as enraged by interest cuts as anyone, & it's twats who can't afford to pay for their trips to fucking Borneo & plasma screen TVs that are behind it.

Yes, I have a low-paid job but I don't mind as due to my life choices etc I can live a reasonable life while spending less than I earn. It seems to me that the worship of house prices is part of this "culture" of sticking everything on the plastic & there'll be no tomorrow which is currently dying a slow & lingering death.

I have no objection to people leaving a bit to their children. But those who plan to leave just a bit were never going to be affected by Ozzy Osborne's policies, the majority of people would only come under it if house prices rocketed.

I don't mind people leading a luxury lifestyle if they've got the means to, which half of them haven't, & were accordingly living on debt until they got punched in the face by reality.

As for La Toynbee, she is a bit of a fucker & I'm starting to become more opposed to her ideas as time goes by. I don't hate her though.

Newmania said...

the majority of people would only come under it if house prices rocketed.

After ten years of the misuse of fiscal lag to over tax people , no wonder people worry.This money has been taxed. House prices will go up again .

Auntie Flo' said...


The problem with Brown getting designs on IHT is his boundless greed, utter cluelessness in respect of how the real world beyond the political bubble operates and his negligent disregard for the consequences of his policies invariably result in chaos and misery for all of us.

Brown's greed was all too evident when he salted away some of his own assets out of reach of IHT. He gave a Sarah a spare house worth £600,000 that he just happened to have lying around.

If he now, having greedily protected some of his own assets, reduces the threshold for IHT and the value of the transferable element, that would just be par for the course for the meanster Brown. With state revenue from taxes collapsing all around him, I can see him doing something like this.

What worries me is that I don't trust Brown to keep his hands off of SMEs either. If he were to make these businesses part of the IHT liability, he would at one fell swoop destroy millions of family businesses on the death of one of the partners. No way could most SMEs survive having to pay the huge amount of tax that would entail.

All previous governments have had the sense to keep business assets out of the IHT computation, but Brown has never allowed small considerations such as rationality or desire to avoid destruction of UK's business base to restrain his lust for power.

Now he has many banks under his inept control, I bet Brown's horrible chewed fingers are just itching for more.

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