The glass is always full.
Joined October 2013
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Mr. Meniscus retweeted
Premise:
Incentives drive all human behavior.
The corollary:
How to destroy a country:
A vast social security and support system that serves as a magnet for those who would rather not work.
An open immigration policy that does not screen immigrants to determine their ability and willingness to provide for themselves and their families.
An open immigration policy that does not screen for political and/or religious ideologies that are a threat to the country.
Economic incentives large enough to incentivize immigrants on the state dole to have large numbers of children, but insufficient for educated and economically productive mothers to be able to quit to raise a family.
The declining fertility of the most educated and productive women due to their delay to begin a family as a result of their desire and/or need to advance their careers, among other reasons, to live a life they deem consistent with their educational achievements and/or to repay their student debts.
Amnesty programs that give citizenship and voting power to illegal immigrants without consideration of their economic productivity or their threat to the country due to their religious or political ideologies.
The changing demographics and increased population due to the above factors.
The state responding to protests by increasing social support.
The continued failure to punish and hold accountable violent and looting rioters.
Government managed by a massive and growing unelected bureaucracy.
Government fraud, waste, and abuse contributed to ballooning budgets.
Anti-business legislation that makes it difficult for businesses to compete in a global marketplace being disrupted by AI, including restrictions on firing even poorly performing employees.
Overly burdensome, globally uncompetitive, corporate taxation.
Continuous increases in personal taxes to raise funds to provide for the rapidly growing welfare state.
The substantial majority of the tax burden levied on a small percentage of the population.
A growing percentage of the electorate paying no taxes and receiving welfare.
The introduction or threat of a wealth tax including the taxation of unrealized gains, i.e., taxes on paper wealth.
The flight of the most productive business builders and highest taxpayers to lower tax countries with lesser security concerns.
A growing percentage of the electorate voting for candidates that support increased welfare and laws favorable to, and/or that match the cultural and ideological needs and desires of a growing unproductive immigrant population.
The rapid rise in anti-semitism and inadequate efforts to address this hatred.
Increased borrowing by the state to fund the growing social burden.
Higher sovereign interest rates due to all of the above.
The resulting need to reduce expenditures to make the math work.
Increasingly violent protests that make life less livable for the productive and law abiding citizens leading to their accelerated departure.
And so on…
Mr. Meniscus retweeted
Why doesn't the BBC's Economics Editor, @faisalislam have anything to say about another multi-year high on UK 10Y gilt yields and the rate of increase? Prime Ministers have fallen in similar circumstances.
Mr. Meniscus retweeted
Check out our handy calculator and remind @andyburnham why fuel is so expensive
gbtt.info/real-cost-of-fuel
I know people are worried about fuel prices. And I get it. You get to the pump, watch the numbers climb, and wonder why it's costing so much more than it used to.
The reality is that global events are pushing up costs, and families here at home are feeling the impact.
But I won't accept that there's nothing I can do to help.
That's why from today, you'll be able to see petrol and diesel prices on Google Maps, compare nearby stations and find the cheapest option before you fill up.
It's a small change, but if there's a practical way to help people keep more money in their pocket, I'll do it.
Mr. Meniscus retweeted
WATCH: Ed Miliband’s car crash interview.
Out of his depth when confronted by simple economics
Mr. Meniscus retweeted
If you are feeling poorer since Labour gained power. This is why..
Employer National Insurance increased from 13.8% to 15%.
• The employer NI threshold cut from £9,100 to £5,000.
• Income Tax and National Insurance thresholds frozen until 2031.
• Capital Gains Tax increased from 10% and 20% to 18% and 24%.
• Business Asset Disposal Relief increased from 10% to 14%, then 18%.
• Investors Relief increased and its lifetime allowance cut from £10 million to £1 million.
• Carried interest taxation increased and moved towards the Income Tax regime.
• Dividend tax rates increased by two percentage points.
• Savings income tax rates increased by two percentage points.
• Property income tax rates increased by two percentage points.
• Most unused pension funds brought into the Inheritance Tax net.
• Agricultural Property Relief restricted.
• Business Property Relief restricted.
• Inheritance Tax thresholds frozen for longer.
• The non-dom regime replaced with a more extensive residence based system.
• VAT imposed on private school fees.
• Business rates relief removed from private schools.
• Stamp Duty increased on second homes and buy to let properties.
• The Furnished Holiday Lettings tax regime abolished.
• Pension salary sacrifice benefits capped at £2,000 before National Insurance applies.
• The Cash ISA allowance cut to £12,000 for most under 65s.
• A 22% charge introduced on interest from cash held inside non cash ISAs.
• Restrictions introduced on transfers and cash like holdings within ISAs.
• The Energy Profits Levy increased and extended.
• Investment allowances for oil and gas producers reduced.
• A new Vaping Products Duty introduced.
• Tobacco duties increased above inflation.
• Vehicle Excise Duty increased for many new cars.
• Electric vehicles brought into the Vehicle Excise Duty system.
• A new mileage tax announced for electric and plug in hybrid cars.
• Air Passenger Duty increased.
• Climate Change Levy rates increased.
• Plastic Packaging Tax increased.
• A new Carbon Border Adjustment Mechanism introduced.
• Making Tax Digital extended to more landlords and self employed people.
Senior Labour adviser, Jim O’Neill, has strongly advised against rising capital gains tax recognising that it will hinder any form of growth.
The fact Labour are actively ignoring this sage advice is worrying but not unsurprising for a government hell bent on ruining the economy.
Proposed hike in capital gains tax being leaked to the media to gauge reaction, is daft. All to support “lower earners” apparently. The broad shoulders of the wealthy are already broken under Labour. @LucyMPowell @JeffSmithetc Look at reducing benefits. It’s gone too far FFS.
Mr. Meniscus retweeted
Labour continue to betray the very people whom it should be protecting & doing everything they can for strangers from foreign lands.
The UK government is now no longer fit for purpose.
Mr. Meniscus retweeted
I forgot about the reduction in VCT and EIS income tax relief from 30% to 20% and introduction of IHT at 20% for AIM business property relief.
And an increase in the tax rate from 0% to 12% for Employee Ownership Trusts.
And this was supposed to be a pro-business pro-growth govt!
Mr. Meniscus retweeted
In the 24 months since Labour came to power, we've seen;
• Employer National Insurance increased from 13.8% to 15%.
• The employer NI threshold cut from £9,100 to £5,000.
• Income Tax and National Insurance thresholds frozen until 2031.
• Capital Gains Tax increased from 10% and 20% to 18% and 24%.
• Business Asset Disposal Relief increased from 10% to 14%, then 18%.
• Investors’ Relief increased and its lifetime allowance cut from £10 million to £1 million.
• Carried interest taxation increased and moved towards the Income Tax regime.
• Dividend tax rates increased by two percentage points.
• Savings-income tax rates increased by two percentage points.
• Property-income tax rates increased by two percentage points.
• Most unused pension funds brought into the Inheritance Tax net.
• Agricultural Property Relief restricted.
• Business Property Relief restricted.
• Inheritance Tax thresholds frozen for longer.
• The non-dom regime replaced with a more extensive residence-based system.
• VAT imposed on private school fees.
• Business-rates relief removed from private schools.
• Stamp Duty increased on second homes and buy-to-let properties.
• The Furnished Holiday Lettings tax regime abolished.
• Pension salary-sacrifice benefits capped at £2,000 before National Insurance applies.
• The Cash ISA allowance cut to £12,000 for most under-65s.
• A 22% charge introduced on interest from cash held inside non-cash ISAs.
• Restrictions introduced on transfers and cash-like holdings within ISAs.
• The Energy Profits Levy increased and extended.
• Investment allowances for oil and gas producers reduced.
• A new Vaping Products Duty introduced.
• Tobacco duties increased above inflation.
• Vehicle Excise Duty increased for many new cars.
• Electric vehicles brought into the Vehicle Excise Duty system.
• A new mileage tax announced for electric and plug-in hybrid cars.
• Air Passenger Duty increased.
• Climate Change Levy rates increased.
• Plastic Packaging Tax increased.
• A new Carbon Border Adjustment Mechanism introduced.
• Making Tax Digital extended to more landlords and self-employed people.
Together they represent one of the biggest transfers of wealth from households and businesses to the Treasury in decades - with no noticeable improvement in public services.
Whether you're a business owner employing staff, a parent paying school fees, a farmer planning succession, an entrepreneur building wealth or simply someone trying to save for retirement...
You keep less of what you earn.
You keep less of what you invest.
You leave less to your family.
Death by a thousand cuts is becoming tax policy.
Mr. Meniscus retweeted
If someone had told me 30 years ago our government would be just sitting there doing bugger all while our Border Force and RNLI ferried illegal immigrants in every single day, I would say they'd gone mad.
If someone told me 10 years ago, we'd be giving millions every week to a foreign country to defend itself while not defending our own country, likewise.
If someone told me last week our Prime Minister preferred to give our taxes to social security scroungers than to our defence budget, likewise.
But I hadn't thought even a Labour government could sink that low.
Tourist tax, death tax, pension tax in inheritance, higher jobs tax, higher tax on interest earned, higher tax on dividends, reduced cash ISA allowance, reduced capital gains allowance.
Labour truly is the enemy of the working people in this country. @JeffSmithetc @LucyMPowell 👎🏻
Labour can’t help themselves. Now a tourist tax is being introduced FFS. It is not possible to tax your way to growth.
Migrants get in for free but hard working families are taxed at every possible opportunity.
Bond yields at a 30 year high.
Bravo @JeffSmithetc @LucyMPowell
Mr. Meniscus retweeted
The dumbest thing I did was be a 'good boy' for my entire working life: work hard and pay my taxes. 45 years of being systematically and arbitrarily robbed by criminals, some wearing blue ties, some wearing red, and even some sporting a splash of yellow.
I now struggle to pay my bills in retirement and I am still being fleeced via tax by the same clowns.
Meanwhile, these crooks choose to send cash abroad, squander it on insane initiatives such as 'net zero' and DEI, pay themselves tidy expenses, fund wars, and welcome with open arms anyone illegally entering the country, people they are happy to spend billions of pounds on whilst simultaneously making those of us who paid a fair whack into the system, struggle.
People often ask me why I don't vote any more ... and I think it should be fairly obvious. None of these 'senior politicians', across all parties, have any interest in the wellbeing of the common man or woman. They are only interested in their own self-promotion and pressing ahead with whatever harebrained agendas they support whilst in power.
It's only the window dressing that changes ... what awaits in the shop is always the same bullshit that shafts the good, honest folk of this country.
Mr. Meniscus retweeted
🚨 EMERGENCY WARNING TO EVERY PENSIONER IN GREAT BRITAIN: LABOUR IS PREPARING THE ULTIMATE WEALTH GRAB!
If you worked hard for 40 years, paid your taxes, and saved for retirement, Prime Minister Andy Burnham has just placed a massive target firmly on your back.
The highly influential IPPR think tank, which is packed with Burnham's own inner circle, just published the exact socialist blueprint Labour plans to use to bail out their bankrupt government. 🤡
Look at the terrifying three step robbery they are demanding for the October Budget.
First, slapping National Insurance directly onto the incomes of 9.6 million British pensioners.
Second, hiking capital gains tax to a staggering 40 percent to crush your investments.
Third, a devastating 0.65 percent annual property wealth tax just for the privilege of living inside your own family home!
They label you "wealthy" to justify stealing the nest egg you spent a lifetime building. Yet they magically find endless billions to house illegal arrivals in catered hotels without blinking an eye.
They treat the generation that built this country like an absolute cash machine while engineering our total national decline. The mask has completely slipped.
RT and SHARE this everywhere to warn every single retiree in Great Britain before Chancellor John Healey raids their bank accounts! 🇬🇧🔥
@AskNationwide hi. Please could you let me know what your current time periods are for dealing with probate requests (valuations at date of death). I’m currently waiting on nationwide and NS&I. All other banks have responded.
Hi @AskNationwide
Just following up on this. What is the current timeline to get a reply to the probate request? Thanks
Mr. Meniscus retweeted
Ed Miliband has just pledged £11.6 BILLION in overseas climate aid.
Yes, £11.6 BILLION.
While millions of British families are struggling with soaring energy bills, waiting weeks for a GP appointment, unable to find an NHS dentist and watching public services decline, Labour's Energy Secretary is promising to send billions abroad in the name of "global climate leadership."
As if that wasn't enough, he's also announced another £79 million for clean energy projects in Africa and small island states.
Meanwhile, back in Britain, Net Zero targets keep slipping, major energy projects are delayed, our grid is under increasing pressure and households are still footing the bill.
