Labour are about to raise your taxes because Labour don’t want to stop spending £15 billion on asylum hotels, £13 billion a year on foreign aid, £12 billion on Net Zero, £10 billion on welfare for people who aren’t even British, £7 billion importing Afghans, £6 billion subsidising social housing for people who also aren’t British, £4 billion on welfare for people with “anxiety”, £1 billion policing the small boats, £600 million looking after foreign criminals, and £250 million translating NHS material into other languages for people who cannot even be bothered to learn English.
Labour could make different choices; but Labour don’t want to.
If you tax something too much, people alter their behaviour because the incentives have changed.
If you tax people who work and give money to people who don’t work then it’s obvious that less people will work and more people won’t work. That is the incentive structure.
If you make something more expensive fewer people will buy it.
If you make it expensive to earn over £100K, then fewer people will bother doing it. If you make it more expensive to hire people, fewer companies will be hiring.
If a nation taxes wealth, it will have a less wealthy nation.
This is summed up in the Laffer Curve (below) - the economic principle that at a certain point, higher taxes reduces the overall taxes collected. There are 4 principles that economists have learned about when to raise taxes or not to:
1. If a country has relatively low taxes, raising taxes will likely result in collecting more.
2. If a country already has high taxes, raising taxes will likely result in raising LESS.
3. If a country has a wide tax base, raising taxes will likely result in collecting more.
4. If a country has a narrow tax base, raising taxes will likely result in collecting less.
The UK currently has high taxes on a narrow tax base (of very mobile people) so the established economic theory says that when Rachel Reeves raises taxes in her next budget, it will actually do more harm than good - less will be collected.
It seems counter intuitive but LOWERING taxes has a higher chance of collecting more money.
Anyone who runs a business knows this. There comes a point where if you put your prices up and a few clients leave you can crash your business. If you can find a way to reduce your prices, your total revenue will grow.
Walmart, McDonald’s, Amazon and Toyota became dominant because they were committed to keeping prices down not putting them up. They understood the Laffer Curve but it would seem that the UK needs to learn this lesson through painful experience every 50 years or so.
The UK has 11M people who are working age but don’t work. We have just over 32M actual workers. That means 25% of working age people aren’t working!
Every single day 1000 people sign onto benefits claiming to be too sick to work. After WW2 a total of 2% of the population were deemed too sick to work - people who had PTSD from the front lines worked and people who had lost limbs worked.
How is a country meant to function when it has 65M people but only 32M workers and 11M working age people collecting benefits from the state? How long can that last?
Let's introduce a scoring system for councils, and tie senior bureaucrat salaries directly to it.
On clean streets, bins, pothole repair, planning efficiency, hold times, financial discipline and more.
Failure from those ultimately responsible should be punished financially.
I asked the Government to ban halal slaughter - sadly, they refused. Causing animals unnecessary pain and severe suffering is pure cruelty, and not the British way.
We should slaughter our animals in a method that is as humane as possible.
Halal slaughter should be banned.
RFK Jr. breaks down the MAHA plan to reform USDA in 2 minutes: “We’re going to give farmers an off-ramp from the current system that destroys their health, wrecks the soil, makes Americans sick, and destroys family farms.”
1. “We’re going to REWRITE the regulations to give smaller operators a break.”
2. “We’re going to encourage sustainable regenerative farming that can build soil and replenish aquifers.”
3. “We’re going to BAN the worst agricultural chemicals that are already prohibited in other countries, and we’re going to remove conflicts of interest from the USDA dietary panels and commissions.”
Nancy Pelosi
Annual salary: $223,000
Net worth: $202 million
Mitch McConnell
Annual salary: $200,000
Net worth: $95 million
Chuck Schumer
Annual salary: $210,000
Net worth: $75 million
Elizabeth Warren
Annual salary: $285,000
Net worth: $67 million
@elonmusk@DOGE
I just got fired from my job at USAID.
I was the lead analyst for gay squirrels in eastern Zimbabwe.
I have no way to support myself or my family.
This is the reality of Trump’s America.
I'm German.
16 years ago, the EU and US economies were neck and neck.
Today, the US economy is 50% larger than the entire EU combined.
Here's the devastating truth behind Europe's ongoing economic suicide 🧵:
This is simply staggering. I have verified the source of this information as reliable, from a GP practice in London.
On a daily average at this practice...
- Just 8% of appointments are used by British citizens.
- 51% of patients require an interpreter (at the taxpayer's expense), also in effect taking a double appointment.
- 72% of all sick notes are issued to patients who do not speak English.
92% of appointments at this practice being taken by foreign nationals - over half requiring interpretation.
This is not what the NHS was designed for, this is not what we pay our taxes for.
Uncontrolled mass immigration has failed the British people.
If you’re a UK citizen, did you pay £17,000 in taxes last year? If you’re a family of 4, did you pay £64k of taxes as a household?
If not, someone else did on your behalf. A tiny group of people (1%) pay about 30% of the income taxes.
This tiny little group of Brits aren’t just our Dentists, Doctors, Professionals, Engineers, Pilots, Entertainers, Executives, Business Owners and Entrepreneurs, they are also the biggest tax slaves for everyone too.
A person earning £150k is paying £60k in tax. A person earning £30k is paying £6.2k in taxes.
The high earner is making 5x more and paying 10x more in tax.
Given the government spends £17k per person - The higher earner generates a surplus of £43k in taxes while the lower earner requires £11k of someone else’s taxes to cover their portion of government spending.
It takes an income of £60k to generate £17k of taxes. So, very few people in the economy are able to cover the costs of themselves, let alone their families too. A tiny number of people can cover their own costs and generate a surplus for society.
When you hear people talking about how greedy the rich are, and how we need to make life harder for them, it’s worth considering that if they were to stop earning or to leave, the entire system would collapse.
The issue we have in the UK is not enough rich people. We need to either develop them ourselves or import them from elsewhere. We absolutely can not afford to lose them.
As we approach an election, be sceptical of any party who claims they can fund spending through higher taxes on the rich. We already have that! What we need is a party that has a plan to create more rich people or invite them from abroad. It’s never been easier for rich people and high earners to live and work anywhere - of course they’ll go wherever they are treated best.
The UKs survival is directly linked to the number of high earners - best not to drive them away.