Comments on: CBI: now they’re saying ‘only the little people pay taxes’ http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/ Richard Murphy on tax and corporate accountability Thu, 04 Dec 2008 02:34:29 +0000 http://wordpress.org/?v=2.6 By: Tim Worstall http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395773 Tim Worstall Mon, 10 Mar 2008 14:42:00 +0000 http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395773 Peak oil? You mean that this strikes the North Sea Oil fields at exactly the moment that tax rates are raised? My, that would be a coincidence, wouldn't it? Then again, I am committing the cardinal error of believing what I see in the Guardian. Peak oil? You mean that this strikes the North Sea Oil fields at exactly the moment that tax rates are raised? My, that would be a coincidence, wouldn’t it?
Then again, I am committing the cardinal error of believing what I see in the Guardian.

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395760 Tax Research LLP Mon, 10 Mar 2008 13:53:11 +0000 http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395760 Good heavens, is that the best you can do Tim? Heard of peak oil? Good heavens, is that the best you can do Tim?

Heard of peak oil?

]]> By: Tim Worstall http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395722 Tim Worstall Mon, 10 Mar 2008 12:02:24 +0000 http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395722 "The first is that no evidence has ever been found for a Laffer effect, but they assume that it exists." Really? From the Guardian: http://www.guardian.co.uk/business/2008/mar/05/oil.utilities "The last time a windfall tax was imposed on North Sea operators in 2005, it brought short-term gains to the Treasury but led to a slump in drilling activity that ultimately cut tax revenues." That's a Laffer effect. A rise in tax rates has lead to a fall in tax revenues. “The first is that no evidence has ever been found for a Laffer effect, but they assume that it exists.”
Really?
From the Guardian:
http://www.guardian.co.uk/business/2008/mar/05/oil.utilities
“The last time a windfall tax was imposed on North Sea operators in 2005, it brought short-term gains to the Treasury but led to a slump in drilling activity that ultimately cut tax revenues.”
That’s a Laffer effect. A rise in tax rates has lead to a fall in tax revenues.

]]> By: Gareth http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395710 Gareth Mon, 10 Mar 2008 11:47:29 +0000 http://www.taxresearch.org.uk/Blog/2008/03/10/cbi-now-theyre-saying-only-the-little-people-pay-taxes/#comment-395710 Somehow I expect that the CBI would be quick to complain if any of te infrastructure and support that taxes pay for were withdrawn! Unfortunately, this report is very predictable - it seems that the CBI doesn't have much ideas for supporting British industry, other than suggesting they should pay less tax than anybody else. Of course, if it was happening somewhere else, they would call it a State Subsidy, and it would be Bad and Wrong - right up until they opened an office there! Somehow I expect that the CBI would be quick to complain if any of te infrastructure and support that taxes pay for were withdrawn! Unfortunately, this report is very predictable - it seems that the CBI doesn’t have much ideas for supporting British industry, other than suggesting they should pay less tax than anybody else. Of course, if it was happening somewhere else, they would call it a State Subsidy, and it would be Bad and Wrong - right up until they opened an office there!

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