TAXING MATTERS!
Tax avoidance...tax evasion
Moral choice...self-persuasion.
One is legal, one is not,
For keeping money you have got.
It's common sense to use the law
To keep the wolf outside the door
Protecting precious hard earned dosh
From heavy hits by the taxman's cosh.
So - here's the gist of my personal plan
To keep as much as I possibly can;
Tho' I know for sure there's no occasion
When I'd swap avoidance for evasion!
All those who know P-A-Y-E
Will probably agree with me.
One last thing I think worth a mention:
I'm still paying tax on my monthly pension.
.............................................................
M.C. Newberry
Thu 19th Feb 2015 16:50
The law affecting taxation is proposed, perused
and passed by Parliament...a gathering far
removed in its make-up and origins from that of
the past when the privileged few were wealthy
and educated enough to put themselves forward
for election and may have been persuaded by
class and vested interests to pursue policies
that served their own interests first. The
range and opportunity for dissent within the
modern assembly can only contribute to a
more democratic system of controlling what laws
on taxation are considered and passed. Tax
avoidance in the form of inviting savers to
save/invest via Peps, Tessas and ISAs can be
viewed as encouraging thrift and self-reliance
for the individual. But business and wealth
creation - often allied - require expansive
attitudes that are commensurate with the profits generated. Talent that can even
border on genius is worthy of its reward without the condign imposition of tax that
may enforce the view that that talent/genius
may be better rewarded elsewhere - especially
nowadays when so much and so many move around
to suit circumstances, real or perceived.
Today, in a global business world, there are
many emerging economies that seek to attract
"big business" with offers of preferential taxation and the problem established markets
like the UK face is how best to fend off this
opposition and keep the very rich and influential "on board". The City of London -
home of the famous Bank of England and Lloyds
- manages to retain its unique appeal in this
famous city. I take the view that you do not necesarily
make the poor richer by making the rich poorer
in a capitalist world...but therein lies the
eternal question: how to make things balance
to the degree that there is no cause for
the politics of envy at every turn. I
do not envy the very wealthy their numerous homes, cars, boats et al. I
do think however that those who help
contribute to the production of those
assets and "signs of wealth" should not endure the sour taste of pointless and
destructive envy. Better to aspire to
the possibility, however slim, of acquiring them for yourself! That way
is UP>!!