Jimmy Carr (& hundreds others) Tax Loophole

David Cameron (British Prime Minister) on Jimmy Carr’s use of a HMRC GOVERNMENT AUTHORISED TAX AVOIDANCE SCHEME

Problem Is as I see it – The bloody government authorises and allows these schemes to exist!  Why allow them to exist if you don’t want people to use them?

Another example of government stupidity of the highest order.  Reactionary in nature and probably only because The Times newspaper has run the story all week – so It’s a “popular” feature for the PM to express his horror at!

Note to the government:  If you don’t want things like this to occur, close the blooming loopholes, simplify the tax system so it’s easy to pay, collect and work out taxation due.  If a UK PLC makes £20 million net profit and the tax rate for businesses is 25% – they pay 25% of £20 million = £5 Million in tax – no If’s, but’s or maybes – This way £5 million is put into the countries coffers and not a few hundred thousand due to some allowable tax avoidance scheme!  (Tax rates NOT to scale – just used as an example)

Note to Readers:  Most if not all major UK businesses and millionaires use similar AUTHORISED tax avoidance schemes to minimise the tax they pay – This is not good for the overall economy as it results in inefficiency of the highest order in running the country effectively – However, It’s legal and authorised by HMRC and it’s boss – The Government!  So can we really blame them in utilising them.

No we can’t, the ultimate blame lies with the ones that allow it to happen – The Government

There is a slight problem with this and that problem is politics or grand marketing as I call it.  As soon as politics enters into any area –  bureaucratic red tape appears, too many cooks in the kitchen and plain and simple inefficiency appears.  the reason is that the politics is all about winning votes in the mass competition to run countries – POWER – The truth disappears and the use of fancy words, sentences and paragraphs are splurted out in an attempt to convince voters new and old.

To make the point and this is a great one: In 1913 the US congress (politicians) passed a bill that resulted in the birth of The Federal Reserve – It’s remit?  To PREVENT Financial Crashes from EVER happening again – this was due to the 1907 financial crash/panic.   The crash of 1929 must of just been a blip, a teething problem, What about the crashes in the 1960’s and 70’s?  On nearly forgot the crash/panic of 1987 and the crash of 2007-09?  so far it’s FAILED, utterly and completely, all from the great insight of politicians and politics who thought they knew/know best!  I rest my case

Video with thanks to Medialab300 via YouTube

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