Gonzo's Erection Thread

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moreinjuredthanowen said:
well new labour 1997 to 2010 suggests that tony and gordon has a wee bit to do with the recession and bank regulation.

I agree however the tories really would have done no different.

How corbyn would have done i dunno.. but i think we all know the iraq war bill would not be there. thats blairs bag.

THere would however be a school of thought that from 2010 to 2015 that debt was going up anyway and its how much it goes up is the question. just go pend and everything is all right and it could be 2.7 for all i know.

Put it this way. the crash was obvious to me in 2006 and i didn't buy a house and get saddled..... but there you go i paid more attention that either political party it seems.
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Think you missed the bit about raising taxes for the wealthiest as opposed to just borrowing. Again, not just my idea - check out Warren Buffet.
 
Diego said:
Just shows what the ECHR has done to us doesn't it <ok>
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Exactly, the disabled and raped won their cases against the Tories, who then jumped on a terrorist attack as an excuse to get rid of the law they used to successfully defend themselves <ok>
 
BobbyD said:
I had a quick look Donga and you are right, the banks were bailed out directly to 500 billion with loads more offered in credit.

I'm still not sure you are correct on the public spending figures as i think all the Public spending figures exclude the bank bailouts (so i will assume it doesn't include selling off the banks although its criminal that we sold them off cheaply). Dunno how accurate this UK public spending website is though.

http://www.ukpublicspending.co.uk/year_spending_2009UKbn_17bc1n_00104080828s#ukgs302

Okay i got all geeky and wasted loads of time when i'm meant to be working to do this.

I downloaded this badboy

https://www.ons.gov.uk/economy/gove...tasets/publicsectorfinancesappendixatables110

It's a fair bit off but i'm not convinced that included bailing out the banks if i'm honest. It's ****ing hard trying to interpret these excels and theres not really enough details on it.

I'm not saying that the tories would have done better than labour if they were in control of the country. Unfortunately we will never know and labour were in power at the time so of course they will get the blame.

I'm not necessarily arguing that the tories are good, i'm just interested in the truth and a view of what is going on.

It's hard to attribute where this 500 billion extra has been spent bailing out the banks in any of the data i'm reading but if the net deficit was originally 30 billion when the times were good to then jump from 30 -> 80 (or something like that) to 150 whilst the economy was shrinking/not growing and with no austerity cuts, I find it hard to see that the net deficit figures include the 500 billion. The only thing i can think of is that the 500 billion investment spread over a number of years rather than 1 big hit or isn't included in the data.

I agree the tories have been taking the piss with selling state assets of cheap but at the same time i don't think spending our way out of trouble is the solution back in 2010. Having said that I did want Labour to win the last election.

What i didn't agree with Labour at the time was their policy of having a net deficit around 30 billion so that our national debt was increasing. Even you admit that we should be saving when the times (well someone did) and spending when the times are bad. We can't be spending spending and more spending.
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Let me repeat - again! - that it's not just borrow and spend: it's tax, borrow and invest, and that's not some new, Corbyn-type economics. Even Hitler believed in pump-priming a deflated/depressed economy. And look - trickle down just does not work. The top 10% of taxpayers pay 38% of their earning (note - not their WEALTH), whilst the
lowest 10$ pays 39% of their income. And what do the richest do with that ^62 of income left? Spend it on items that us peasants can make or service? Do they ****: that which isn't claimed back in tax relief is primarily squirrelled away. It's not spent, and before you say it's used by the banks to be invested into the economy - no it ****ing isn't.

the biggest con that the western world and its magnate-owned media consistently pulls off is that in times of recession we need MORE tax cuts for the rich to reflate the economy. Trickle down doesn't work and never has done - ask warren Buffet.
 
donga darko said:
Let me repeat - again! - that it's not just borrow and spend: it's tax, borrow and invest, and that's not some new, Corbyn-type economics. Even Hitler believed in pump-priming a deflated/depressed economy. And look - trickle down just does not work. The top 10% of taxpayers pay 38% of their earning (note - not their WEALTH), whilst the
lowest 10$ pays 39% of their income. And what do the richest do with that ^62 of income left? Spend it on items that us peasants can make or service? Do they ****: that which isn't claimed back in tax relief is primarily squirrelled away. It's not spent, and before you say it's used by the banks to be invested into the economy - no it ****ing isn't.

the biggest con that the western world and its magnate-owned media consistently pulls off is that in times of recession we need MORE tax cuts for the rich to reflate the economy. Trickle down doesn't work and never has done - ask warren Buffet.
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Im not saying dont spend but the last part i was referring to was not to spend during the good time and spend during the bad.

My referring to the labour part was that we were already high in debt due to their spending and now we are close to the edge ala italy and greece.

Anyway as i said if corbyn got in he could have been spectacular or we could have gone total greece style depending how decent he was.

I dont necessarily disagree with tax hikes but you cant just go to 75% tax (corbyn wasnt suggesting this) in order to give money to the lowest and have trickle up.

Globalisation is what has killed the national tax revenue in terms of tax evasion/avoidance.

As for jezza wgether he was going to be able to collect all of the taxes he envisaged for all his profits is one thing. I believe his manifesto also included borrowing another 20 odd billion was it not?
 
Theresa May is getting completely owned by the DUP

Just quit now FFS rather than embarrassing us by being replaced by a note handed in the middle of a Brexit negotiation
 
Did you see the Queen's Euro hat today? Like the Queen or not, she very rarely makes mistakes.
 
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