Labour have to get their heads round this http://www.positivemoney.org/2013/12/monetary-system-contributes-gap-rich-poor/ Sent from my iPhone using Tapatalk
The only way to tackle this is by global intervention and America won't go down this way leaving the EU racked by in fighting.so in other words no f in chance.
It's the old 'debt is money' argument. Ever since banks were allowed to create money(assets on their balance sheets) from nothing by creating a loan amount without equivalent 'reserves' eg. gold in the vaults, the whole system became flawed and will eventually crash. Obviously when banks started, the amount loaned out equalled the reserves in the vaults until someone realised that you could lend 2, 3 or 4 times the amount with low risk as the likelihood that run on the bank where everyone wanted their money at the same time was very low. It did occasionally happen though. The problems really ramped up when banks were allowed to 'create' debt/assets 00s of times greater than investments held. The whole financial markets are based on...errr.... no tangible assets. Vast wealth is accumulated without creating or producing anything of 'real value'. Problem is, we are stuck with it!
The politics of ENVY isn't going to get the Labour Party anywhere. The richest 1% of our population pays 30% of the nations income tax The reason why Labour lost the election is because they concentrated on people on minimum wages
Aye but the top 1% own more than 30% of wealth so surely they should be paying the equivalent percentage of income tax. At least that'd be a start.
Aye, but income tax only accounts for about 29% of all tax income, the bottom 50% pay proportionally more tax on their income than the top 1% via VAT, Fuel duty, Tobacco duty and a myriad of other taxes.
That's not politics of envy for feks sake its called the politics of fairness. I personally would put the people that work in wildlife sanctuary's on minimum wage tbh seems some of them are think they are worth more than others ,in their own minds I think.
