These are my links for November 3rd:
- EU Set To Unveil Savings Tax Directive Changes - Good news
- Republicans Scrambling to Save Seats in Congress - NYTimes.com - A Democrat clean sweep? Then it's time for Bretton Woods II
- Interest rates and the financial crisis: Why did the Bank of England get it wrong? | ToUChstone blog: A public policy blog from the TUC - More arguments for reform of the MPC and the need for a 2% cut in bank rate
- Global poverty and the credit crunch: one crisis, one solution? | ToUChstone blog: A public policy blog from the TUC - Good stuff from the TUC blog
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Please explain why you feel that taxing savings at a time of massive pensions shortfall and government falsified inflation statistics being used to artificially lower interest rates rather than protect the savings of people saving for their retirement is good news.
You have mentioned government pyramid schemes before, well this is another: short term planning and ever expanding population and economy on a finite planet is a pyramid scheme. PAYE pension schemes without sufficient investment to back them up are set to bankrupt the USA and the UK in the next 15 years.
By all means pursue tax fraud but be sure that you don’t encourage a repeat of the living on credit early 2000s you often criticise by not supporting savers. Why do you think there was an unsustainable housing boom? Why did the British stop saving? Because when savings are in the bank, and not a house, the government keeps taking from them. Why are stock and housing savings exempt until sale but cash is pilfered?
I have no house in the UK. Why should my dwindling savings for a house be raided?
Not one single savings account in the UK protects the saver from inflation… yet the government insists on taking a cut to add to the loss of value of savings. It is inconsistent to be pro traditional conservative business finance without also being traditionally conservative on personal finance.