tag:blogger.com,1999:blog-2546602206734889307.post5730254968300418633..comments2024-03-28T04:29:22.717+00:00Comments on mainly macro: A budget for our next Prime MinisterMainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger40125tag:blogger.com,1999:blog-2546602206734889307.post-85979414968381295202015-07-12T19:53:04.397+00:002015-07-12T19:53:04.397+00:00Firstly you claim, reading between the lines, that... Firstly you claim, reading between the lines, that an increase in minimum wage will lose countless people their jobs. The reality is the minimum wage will be raised very gradually, which considering it hasn't been raised in the same percentages as inflation, is not a bad thing. The insinuation that an increase in minimum wage would decrease incentive to work is just ludicrous. Especially with the decreased cap on benefits. Which is again a good thing. It's a sad state of affairs when so many people can be better off on benefits than working. The latest budget is the first for years to combat this problem.<br /><br /> You proceed to claim inheritance tax being abolished shows conservatives value estate worth rather than salary. How you have reached this conclusion I cannot fathom. What I also can't fathom is why so many left wing voters choose this as a source of outrage. The fact is the tax didn't apply to low valued estates, and only the "middle class" have benefited from this cut. The fact remains low valued estates don't pay it anyway so what fair reason can you come up with for it being applied for others? If someone works hard all their life, surely it is their right to have that estate go to the people they love? Rather than the government? Rather than, going back to my earlier point, going to people who live on benefits because they know they'll be better off than if they work?<br /><br /> I'm not a Tory voter. In fact I think David Cameron is one of the worst things to have ever happened to British politics. The fact remains that this budget, for the first time in years, makes sense. It is cutting from the places that can either afford to be cut, or deserve to be cut. It is also righting wrongs which have been in place for a fair number of years now. <br />QuestionableQuestionshttps://www.blogger.com/profile/01508076376442003688noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-44974815836863262892015-07-10T14:10:12.288+00:002015-07-10T14:10:12.288+00:00Simon10 July 2015 at 00:02
Big Bill10 July 2015 at...Simon10 July 2015 at 00:02<br />Big Bill10 July 2015 at 01:10<br /><br />Excellent for leftist bull sessions.<br /><br />PiemanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-53363284306516354722015-07-10T13:17:43.560+00:002015-07-10T13:17:43.560+00:00You mean he preaches to the converted - exactly so...You mean he preaches to the converted - exactly so.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-64396641748797357812015-07-10T13:15:25.088+00:002015-07-10T13:15:25.088+00:00Anonymous10 July 2015 at 00:45
"I am dishear...Anonymous10 July 2015 at 00:45<br /><br />"I am disheartened by his continual inability to see that values inform his conclusions; it's not a priori economic reasoning."<br /><br />How right you are. SWL's lack of self-awareness is stupendous.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-52891456928337043332015-07-10T10:18:35.522+00:002015-07-10T10:18:35.522+00:00The BBC, to be fair, led with the IFS review yeste...The BBC, to be fair, led with the IFS review yesterday. But little has been made of the Tories stealing Labour policies - imagine the outcry if Labour had increased the minimum wage, or attacked non-dom status.<br /><br />I'd suspect that this is for two reasons. The boring reason is that the media is just an echo chamber for various right wing interest groups, and they are allied to a Tory government and are being quiet right now - especially as they don't want to signify the contradictions between Tory rhetoric and policy. The second reason is that it has no traction amongst "serious people" who have sunk capital in modern capitalism. A prime example of the latter is <a href="http://www.theguardian.com/commentisfree/2015/jul/09/george-osborne-budget-new-labour-thatcherite" rel="nofollow">Martin Kettle in the Guardian</a>. Who would have thought that:<br /><br />"They [the coalition and Tory government] have also been concerned about fairness and social justice"<br /><br />... while we have a continued assault on the poor and disabled.<br /><br />Regarding Labour - their response has been pathetic. They could have congratulated Osborne on discovering that the minimum wage is not such a bad thing after all, and then used the IFS report to expose the truth behind the PR. But whatever they do has such a lack of conviction ...<br />gastro georgenoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-47998754903258397172015-07-10T09:54:12.461+00:002015-07-10T09:54:12.461+00:00I have noticed a fair few people on my local FB so...I have noticed a fair few people on my local FB social group suddenly realizing that they will be £1000 a year or more worse off.Andrewhttps://www.blogger.com/profile/02729454651003425550noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-87998153515415140602015-07-10T08:19:25.273+00:002015-07-10T08:19:25.273+00:00If those assets have been bought with taxed income...If those assets have been bought with taxed income, why should a change of ownership require them to be taxed again?<br />StuartPhttps://www.blogger.com/profile/13748038209546648459noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-71690348590316303162015-07-10T08:10:01.097+00:002015-07-10T08:10:01.097+00:00Yet, here we are :-) Telling, no?Yet, here we are :-) Telling, no?Big Billhttps://www.blogger.com/profile/18373906955091066795noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-39628398008146570762015-07-10T08:08:35.777+00:002015-07-10T08:08:35.777+00:00As suggested, there'll be unemployment for the...As suggested, there'll be unemployment for the over 25s but the under 25s will no doubt suddenly find themselves popular as employees if not as customers. I'd guess employment levels will stay about the same for a a time at least till the decrease in demand brought about by employers only paying kiddie money which is no longer made up by WTC makes itself evident and staff are let go as a consequence. Does this make sense to people?Big Billhttps://www.blogger.com/profile/18373906955091066795noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-72419774560857898012015-07-10T08:00:47.825+00:002015-07-10T08:00:47.825+00:00You mean a peer-reviewed journal owned by someone ...You mean a peer-reviewed journal owned by someone like Murdock?Big Billhttps://www.blogger.com/profile/18373906955091066795noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-33398389542780324792015-07-10T07:45:34.901+00:002015-07-10T07:45:34.901+00:00" When it comes to implementing good (evidenc..." When it comes to implementing good (evidence based) economic policy..."<br /><br />What does inheritance tax have to do with evidence based economic policy? Inheritance taxes turn on one's values.If your values tilt to favouring asset preservation across generations, then obviously lowering or eliminating the inheritance tax is good policy. While in this case my values coincide with SW'sL, I am disheartened by his continual inability to see that values inform his conclusions; it's not a priori economic reasoning.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-30123758357228422662015-07-10T07:11:52.215+00:002015-07-10T07:11:52.215+00:00It is amazing how muted the response from the BBC ...It is amazing how muted the response from the BBC and others to this budget has been. It is already almost forgotten. In terms of its social and economic effects it should be considered very controversial and generating a lot of discussion. My feeling is also that Labour has not lifted its gameAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-68875131848882320992015-07-10T07:02:03.512+00:002015-07-10T07:02:03.512+00:00As too often with Anonymous comments:
Mainly Clue...As too often with Anonymous comments:<br /><br />Mainly Clueless.Simonhttps://www.blogger.com/profile/01453060744510427275noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-9463779149817764392015-07-10T05:06:27.821+00:002015-07-10T05:06:27.821+00:00I spent 10 years in China; whenever something occu...I spent 10 years in China; whenever something occurred which I could not understand invariably I was being insufficiently cynical; e.g. ongoing stock market gyrations. Russia: ditto. No reason the same lessons dont apply to Europe (or the US).Anonymoushttps://www.blogger.com/profile/05062760260554764634noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-68740293884095916642015-07-09T18:28:29.268+00:002015-07-09T18:28:29.268+00:00As usual with this blog:
Mainly Politics.As usual with this blog:<br /><br />Mainly Politics.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-3447073295289811612015-07-09T15:50:41.545+00:002015-07-09T15:50:41.545+00:00Not lax. Tight. LOL.Not lax. Tight. LOL.Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-73981143137639036672015-07-09T15:50:28.193+00:002015-07-09T15:50:28.193+00:00Simon, do you think the current definition of pove...Simon, do you think the current definition of poverty is a good one?gfnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-51595948853847850322015-07-09T15:13:48.798+00:002015-07-09T15:13:48.798+00:00"(unless 'inflation' is redefined to ..."(unless 'inflation' is redefined to suit one's prejudice)"<br /><br />No. Just no.Ahttps://www.blogger.com/profile/17386123430230365251noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-25579535147099897982015-07-09T14:51:23.944+00:002015-07-09T14:51:23.944+00:00Apologies I misread.Apologies I misread.Peterhttps://www.blogger.com/profile/08272747870634233567noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-41084682307632128432015-07-09T13:48:53.106+00:002015-07-09T13:48:53.106+00:00Lots of people in the U.S. on the left disagree wi...Lots of people in the U.S. on the left disagree with this. Here's Krugman for instance.<br /><br />http://krugman.blogs.nytimes.com/2013/02/16/minimum-wage-economics/<br />Peterhttps://www.blogger.com/profile/08272747870634233567noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-50820461722722850172015-07-09T13:05:39.107+00:002015-07-09T13:05:39.107+00:00Banks do not lend out reserves. Lending is lax bec...Banks do not lend out reserves. Lending is lax because there are no creditworthy borrowers!Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-8472183304429158702015-07-09T11:53:56.471+00:002015-07-09T11:53:56.471+00:00Let's stand by for an unemployment rise, then....Let's stand by for an unemployment rise, then.<br />StuartPhttps://www.blogger.com/profile/13748038209546648459noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-24301342302660510682015-07-09T11:48:59.293+00:002015-07-09T11:48:59.293+00:00Nonton Bokep | Vertical Limit Blog | Film Porno Je...<a href="http://nontonbokepgratis69.blogspot.com" rel="nofollow">Nonton Bokep</a> | <a href="http://verticallimit21.blogspot.com/" rel="nofollow">Vertical Limit Blog</a> | <a href="http://zonaporn69.blogspot.com/" rel="nofollow">Film Porno Jepang</a> | <a href="http://entekentek.blogspot.com/" rel="nofollow">Film Semi</a> | <a href="http://ahliseo21.blogspot.com/" rel="nofollow">Jasa SEO</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-24835505249676102642015-07-09T11:34:45.721+00:002015-07-09T11:34:45.721+00:00Thank you. So the figures illustrate that an incr...Thank you. So the figures illustrate that an increase in base-money need not cause inflation, (unless 'inflation' is redefined to suit one's prejudice). Presumably the downward trend of broad money is echoed in the indifferent performance of the economy?Sasha Clarksonhttps://www.blogger.com/profile/09817089491670591343noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-55714128592699884602015-07-09T11:21:21.087+00:002015-07-09T11:21:21.087+00:00I thought that was clear from my post. Increases i...I thought that was clear from my post. Increases in the MW will make a few people better off, but quite a lot of people will lose their jobs. The cut in tax credits will make a lot of people worse off, and may decrease work incentives. With the minimum wage and (maybe) tax credits we were pretty close to the optimum before the budget, and we have now moved further away.<br /><br /> Mainly Macrohttps://www.blogger.com/profile/09984575852247982901noreply@blogger.com