[Aspiringlawstudent]

Which would you prefer to see?

I would prefer much deeper cuts and much lower taxes.

[jaydoh]

Tax the rich, job done.

[TheWorldEndsWithMe]

Probably the cuts, if it had to be one or the other.

Although cuts plus actually collecting tax from people who owe it and haven't paid it might be a good idea.

[Aspiringlawstudent]

(Original post by jaydoh)
Tax the rich, job done.

What happens when the rich get fed up of having so much of their money being taken from them and bugger off to another country?

[jaydoh]

(Original post by Aspiringlawstudent)
What happens when the rich get fed up of having so much of their money being taken from them and bugger off to another country?

If they're so rich and can afford it/won't miss it like some then it won't matter will it.

[Chow mein]

(Original post by Aspiringlawstudent)
What happens when the rich get fed up of having so much of their money being taken from them and bugger off to another country?

Although I agree with much deeper cuts much lower taxation, I have always found this argument highly unconvincing.

And not just tax cuts, the whole tax code needs to be simplified, we have extremely high administration costs in collecting tax (around 1% of tax revenue!)

[Aspiringlawstudent]

(Original post by jaydoh)
If they're so rich and can afford it/won't miss it like some then it won't matter will it.

...what?

I mean where do you get the money from when the rich leave because they don't want to be taxed so highly?

[jaydoh]

(Original post by Aspiringlawstudent)
...what?

I mean where do you get the money from when the rich leave because they don't want to be taxed so highly?

That's my point-they won't leave.

[Stiff Little Fingers]

Lower cuts, start claiming the money still owed by corporations (e.g. Vodafone with their 6m unpaid tax bill).
Stop demonising the underclass and those on benefits for being a drain on the country when the financial hit of tax evasion by the rich is worse than that of giving the impoverished (by UK standards) money to help them survive.

[Aspiringlawstudent]

(Original post by jaydoh)
That's my point-they won't leave.

What if they did, however? Don't dodge the question by saying 'it won't happen'.

[zaliack]

We should take advantage of our lower borrowing costs to safeguard us against the inevitable "Grexit" (I hate that phrase so much), and promote funding for businesses, so they'll come here from the eurozone implosion.

[Aspiringlawstudent]

(Original post by Alofleicester)
Lower cuts, start claiming the money still owed by corporations (e.g. Vodafone with their 6m unpaid tax bill).
Stop demonising the underclass and those on benefits for being a drain on the country when the financial hit of tax evasion by the rich is worse than that of giving the impoverished (by UK standards) money to help them survive.

How much money will this actually bring in, after legal costs etc?

[zaliack]

(Original post by Aspiringlawstudent)
How much money will this actually bring in, after legal costs etc?

All of it, if the court makes the corporations pay all the legal fees

[Aspiringlawstudent]

(Original post by zaliack)
All of it, if the court makes the corporations pay all the legal fees

No, I mean how much money is it? £1bn? £15bn? £100bn?

Or do you not know?

I often find people want to say we can afford to spend x billion on this and y billion on that, but are unable to say where it comes from.

[meenu89]

More cuts. It will have to happen sooner or later anyway.

[Aspiringlawstudent]

(Original post by meenu89)
More cuts. It will have to happen sooner or later anyway.

I could not fail to disagree with you less.

[zaliack]

(Original post by Aspiringlawstudent)
No, I mean how much money is it? £1bn? £15bn? £100bn?

Or do you not know?

I often find people want to say we can afford to spend x billion on this and y billion on that, but are unable to say where it comes from.

I didn't mention the corporation thing, I was just butting in

but what I think would be a good idea is to borrow something like £5bn and use it all for houses etc and then sell the houses off for enough profit to counteract the interest on the loans.

[Stiff Little Fingers]

(Original post by Aspiringlawstudent)
How much money will this actually bring in, after legal costs etc?

Simply, I don't know exactly how much, but it'll certainly be enough to make a nice dent in the deficit.

[Aspiringlawstudent]

(Original post by Alofleicester)
Simply, I don't know exactly how much, but it'll certainly be enough to make a nice dent in the deficit.

How can you be so sure if you don't know the amount

Are you simply guessing?

Do you know even roughly? Is it in the billions?

[Aspiringlawstudent]

(Original post by jaydoh)
Tax the rich, job done.

Also, who is 'rich'?

What level of income classes one as rich?

How many of these people are there in the UK?

How much money would your proposed tax rate generate, assuming none of them left?