« The Old Reward | Main | Time for Glacial Retreat »

Hurrah for the Taxman driving overpaid spoilt brats abroad

Taxman should give stars a sporting chance | Natalie Haynes - Times Online

...yesterday, the story broke that HMRC would be driving sports stars away from big events by trying to grab hefty chunks of their sponsorship deals. Before, visiting sports stars were taxed on the number of days they spent in the UK. Now the plan is to tax them on the percentage of events they do here. That might not be too bad if a sport has lots of events — Roger Federer is scheduled to play 19 tournaments in 2010, only two of which will be in the UK. But it’s hard going for marathon runners, who usually race only twice a year. If one of those is in London, they’ll be taxed on half their year’s sponsorship money for one day’s running.

I never really believe it when people wail that taxing bankers will simply drive them out of the country. .... But sportsmen are different — why won’t they just run in New York, not London?

Well there is hope here that our streets may be freed from the spindly lycra wearers, at least bankers don't routinely shit in the gutter as they go about their business.

Comments

Bankers routinely shit on their customers…wherever they are

Peter, the answer is simple - use another bank. Be a rate tart like me. Far too many people stick with the same bank for ever and this just encourages laziness and a degree of sameness in what banks offer. Force then to compete for your custom.
Aside from the fact that Miss Radcliffe was piddling in the road, (and as she was unique in this, hardly "routinely") bankers should be greedy - that's where your pension comes from. The distinguishing characteristics of the Left are envy and spite, both richly evident here. Consider; Sir Fred Goodwin gets in pension every year more than I shall ever earn in my lifetime. Is this money lost? Does it vanish down a black hole? No, of course it doesn't. He spends it. Money is no use if you don't. So large numbers of car dealers, interioir designers, builders, tradesmen of all sorts, etc., etc. are getting employment (during which the tax man and other such parasites get their sticky little fingers on it). Such circulation of money is called economic activity and as Adam Smith pointed out, benefits us all.
The real villains of the piece are Governments (as always) for bailing out banks that went too far. This castrated the market forces that would otherwise have administered a severe slap to those customers who were stupid enough to put all their money in one bank and positively encouraged the other banks to take stupid risks safe in the knowledge that they were "too big to be allowed to fail". I had brief hopes that the Yanks had the right idea by letting Lehman Bros. go down, but no, populist politicians, as ever after the stupid vote, soon nixed that. Ho hum.

Post a comment