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The city of London & the trickle down narrative Watch

  • View Poll Results: Do you believe in the trickle down narrative?
    Yes
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    10
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    Undecided
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    10.53%
    I don't know what trickle down narrative means
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    Even after the recession me and my Banker buddies are having a hard time. We are a lot poorer than usual. Would you donate to make our lives better?

    After all when the good times return we'll trickle down some funds too you.

    Do you believe the trickle down narrative of the city of London?

    http://en.wikipedia.org/wiki/Trickle-down_economics

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    (Original post by illegaltobepoor)


    Even after the recession me and my Banker buddies are having a hard time. We are a lot poorer than usual. Would you donate to make our lives better?

    After all when the good times return we'll trickle down some funds too you.

    Do you believe the trickle down narrative of the city of London?

    http://en.wikipedia.org/wiki/Trickle-down_economics

    Trickle down works in the corporate sense that if you encourage business creation, more jobs are created and more people are able to consume.

    Trickle down does not work in the income sense that if you cut taxes for the rich the economy will improve because bar attracting more rich to broaden the tax base, they often have a marginal propensity to save or easy access to foreign consumption and i'm not sold that you broaden the tax base sufficiently to negate the lost revenue after a point. Dropping to 45% has worked (£9bn revenue instead of the forecast £3bn at 50%) but if we had a flat tax of 20% i'm not sure these high earners would be in enough number to offset the loss.
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    I believe in lower taxation overall so I guess that counts as fitting trickle-down in some ways.

    How about you, illegal?
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    The bankers are not to blame.

    How they personally affected you ? They haven't

    Let's raise money in the economy by stopping 12 billion of foreign aid to poor countries with space programmes
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    Isn't banker hatred actually just jealousy and envy.

    If I am poor and uneducated and unemployed and living on food banks,
    no matter what bankers do or do not do,

    my situation does not change. I am to blame.
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    The problem isn't really about banks or their employees; it's the foreign investment in the City of London outpricing the housing market. That video is pure toss.
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    Vote tories.
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    (Original post by Abdul-Karim)
    Vote tories.
    Precisely.

    He wants the rich to be poorer, simply to satisfy him.

    https://www.youtube.com/watch?v=rv5t6rC6yvg
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    (Original post by democracyforum)
    The bankers are not to blame.

    How they personally affected you ? They haven't

    Let's raise money in the economy by stopping 12 billion of foreign aid to poor countries with space programmes
    Deficit currently running at about £100bn.

    Tell me again how foreign aid is the problem?
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    (Original post by mojojojo101)
    Deficit currently running at about £100bn.

    Tell me again how foreign aid is the problem?
    A tenth of a problem is still a problem.
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    (Original post by mojojojo101)
    Deficit currently running at about £100bn.

    Tell me again how foreign aid is the problem?
    I think the point they're trying to make is that without foreign aid the the deficit would only be £88bn.
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    (Original post by illegaltobepoor)


    Even after the recession me and my Banker buddies are having a hard time. We are a lot poorer than usual. Would you donate to make our lives better?

    After all when the good times return we'll trickle down some funds too you.

    Do you believe the trickle down narrative of the city of London?

    http://en.wikipedia.org/wiki/Trickle-down_economics

    Do you mean other than generating 10% of the UKs gdp?

    http://www.cityam.com/article/financ...-cent-uk-s-gdp

    You've been told all of this before ? Although you may criticise the financial sector, it pays for the welfare state and the nhs. That's why even labour doesn't want to annoy it too much.
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    (Original post by BitWindy)
    A tenth of a problem is still a problem.
    Hardly a solution though, seeing as you'd still have a massive budget deficits.


    Foreign aid is like 1% of government spending, I don't believe for a second that the same amount.of money and a lot extra couldn't be found in other areas.
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    (Original post by mojojojo101)
    Hardly a solution though, seeing as you'd still have a massive budget deficits.


    Foreign aid is like 1% of government spending, I don't believe for a second that the same amount.of money and a lot extra couldn't be found in other areas.
    I never said getting rid of it would solve everything, but I don't see why it's such a crime to suggest we scrap it.
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    (Original post by mojojojo101)
    Hardly a solution though, seeing as you'd still have a massive budget deficits.


    Foreign aid is like 1% of government spending, I don't believe for a second that the same amount.of money and a lot extra couldn't be found in other areas.
    It's still 10% of the defict though.
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    (Original post by mojojojo101)
    Deficit currently running at about £100bn.

    Tell me again how foreign aid is the problem?
    91bn I think.

    Its not but as an annual saving you need only find another 20bn and then the deficit is gone in 3 years. This ignores the fact that the way its paid out means you couldn't scrap it in a single year.
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    I don't think "banker" hatred is pure jealousy. Financial institutions played a dirty game - the position we found ourselves in a few years back was the result. A lot of people will also have fairly poor experiences with banks at sometime or another - and sometimes these can be caused by systemic failings either resulting from the desire to rip people off or negligence. See PPI or endowments.

    That said, one has to be realistic. As a country, we rely on the financial sector. George's taxes will help to prop up the NHS and the welfare state. He will spend his wages and keep people in work.

    That isn't to say that I think George and his mates should be treated with kid gloves. But a pinch of reality is needed too.
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    Trickle down clearly not working,
    We've actually had "Trickle Up" where the wealth of the rich is growing while that of the poor is falling...
    We've had this whole Trickle Down idea for some time now, time to get rid of it and actually start taxing the rich.
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    (Original post by teensocialist)
    Trickle down clearly not working,
    We've actually had "Trickle Up" where the wealth of the rich is growing while that of the poor is falling...
    We've had this whole Trickle Down idea for some time now, time to get rid of it and actually start taxing the rich.
    The gap in relative wealth may have increased but overall wealth, including that of the relative poor, should increase with it without state interference.

    More tax is never the solution towards a more productive and wealthy society.
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    (Original post by teensocialist)
    Trickle down clearly not working,
    We've actually had "Trickle Up" where the wealth of the rich is growing while that of the poor is falling...
    We've had this whole Trickle Down idea for some time now, time to get rid of it and actually start taxing the rich.
    We must empower and motivate the poor.

    The solution to inequality is education.

    The poor are deprived of what by whom ?

    What one man has done, another man can too.
 
 
 
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