Screw the Bankers - let’s tax them 98%
I'm no lover of banks, but when I see the witch hunt going on
in the media regarding the bankers bonuses and bankers in
general I despair. This is a McCarthy-style witch hunt, lead by
the media (as always), whipping up anger, hatred and
jealousy. It's sickening to see. The worst culprits of the
supposedly respectable press, the BBC, (that utter idiot
Preston, who speaks as if his audience are five years old) and
just about all UK media are jumping on the bandwagon. Hey
everyone’s doing it so ‘let’s bash the bankers’.
The press and media in general is one of the worst aspects of living in the UK. If it’s not
focussed on fatuous, infantile ‘celebrity’ of non-entities, it specialises in scandal and
jealousy, and loves bashing not only those that are successful, but any high profile ‘star’.
The UK media, almost without exception, is wholly negative, specialising in reporting
nothing but bad news, half of it made up. The so-called respectable press is as bad as
any.
And when you see the government milking this situation, with populist laws brought in
on a whim because ‘the masses demand it’. Jesus, what sort of place is this country?
I never thought I'd live to see 98% taxes imposed on anyone in this country, but that’s
what is now imposed on bankers. No it’s not the 50% ‘bonus tax’ you thought it was. It’s a
lot, lot more. Check this out;
Example: A bonus of £200,000 made to an individual, would incur the following
deductions:
This represents a 98% tax burden on the net payment of £200,000 to the employee. (From
both the employee and employer, but nonetheless is £195k tax paid on a £200k bonus.)
A high flyer in any other industry, who was bringing in millions worth of business (and
quite a lot of salesmen can earn bonuses like this) then £200k bonus is not unreasonable.
But oh no, if you’re a banker (and the definition by the government is now so wide that
means anyone in the financial industry) how dare you reward success - and we the
government will have it ALL back.
But of course the press don’t report that. Because then the people might wake up and
realise ‘oops, perhaps we’ve gone a bit far’ on this bash-the-bankers jolly.
Message from UK government to bankers and banks: You really, really don’t want to
operate in this country.
And since London is the largest financial centre in the world, this has to be one of the
most effective ways to destroy that business. I’m sure some people might think ‘screw
the bankers’, but like it or not the financial industry, mostly in London, generates a huge
proportion of the wealth of this country.
Dec 2009
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