Wednesday, 6 August 2008

Government shows that brains are not a requirment to govern

Governments mouthpiece

Will stamp duty be scrapped, albeit temporarily, in order to breathe new life into the housing market?

Truth is, I don't know.

Perhaps more worryingly, it does not appear, at least on first sight, that the Treasury knows either.

First there were authoritative reports, apparently coming straight out of Downing Street, that there would be a holiday from the tax.

Then the BBC learned from Treasury sources that, rather than a holiday, the government was considering deferring stamp duty - a buy-now-pay-later scheme.

One wonders if this government could run a piss up in a brewery. They issue a knee jerk panic measure, to try and stop the house market bombing, but then realise it would do more harm than good, so busily try to backtrack.

In the stocks and shares game, there is a saying. "Never try and catch a falling knife", which means don't buy a stock while it is falling, because you have no idea whether the stock will keep falling.

So the idea of making it easier for people struggling to afford a house to buy, right at the time that the knife is picking up speed, seems very cruel to me. Well not as cruel as this rancid government have been (Iraq), but fairly cruel.

Instead of this kind of knee jerk, desperate to win the election crapola, they need to admit they were wrong all along and start undoing the damage they have done.

That means PERMANENT tax cuts and for me, getting rid of income tax is the priority. Taxation destroys wealth and we have the highest taxation's ever, throughout the world, when you add everything up.

Taxing income is just wrong. It is deincentivising working hard and trying to improve yourself. It also drives the best talent away. The sick thing is, that the ultra rich just avoid it anyway, so as usual it is the working-middle classes that shoulder the full weight of it.

Seriously, we need to ditch the "temporary tax" that is income tax first and that will revolutionise this country. We will become the hard working, innovative force in the world we once were again. Of course this means we would have to scale back the size and scope of the state, but given the abject failure of the state, this should not be a problem.

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