Sorry to start this muse with a vulgar title but that’s what it is about.
Benjamin Franklin once observed that the only 2 certain things in life are death and taxes.
Before that William Pitt the Younger created Income Tax. He did it for what he perceived as a good cause – the defeat of Napoleon. After he died, worn out from his endeavours in that purpose and victory was achieved, his successors, from 1815 to date, thought this was a jolly wheeze and have thus dreamed up and imposed tax after tax until today’s list of them is quite staggering. We shall examine them in due course..
In the tax year 2023-2024 His Majesty’s Revenue and Customs (HMRC) collected from the populace and businesses £827.7 billion in tax receipts.
Of this staggering sum receipts from Income Tax, Capital Gains Tax (CGT) and National Insurance Contributions (NIC) accounted for 56% of annual receipts.
So, let us consider the various taxes.
Income Tax – this represents the sum taken from your earnings, often by P.A.Y.E. mostly to give to others who either cannot or, in the main, prefer not to work.
Capital Gains Tax – this is the tax on the disposal of assorted assets you might have accumulated over your lifetime by adroit investments or even good fortune.
National Insurance Contribution – this was originally intended to pay for the National Health Service but these days funds mainly anyone but the clinical and nursing staff at the front of the NHS behemoth – (apart from doctors of course with their 22% pay rise and, naturally, the obscene cavalcade of Diversity and Inclusivity Officers, Middle Management, and Art Buyers)
Value Added Tax (VAT) – nobody has ever explained precisely what value is added by this tax. Probably, for governments at least, it is the value of even more pouring into their rapacious coffers.
Business Taxes – includes Corporation Tax, Petroleum Revenue Tax, Energy Profits Levy, Economic Crime Levy, Electricity Generator Levy. You couldn’t make these up but they did and do.
Stamp Taxes – Stamp Duty Land Tax (you will have already spotted that this is a tax on a duty) and represents a fine for buying a house or flat.
Hydrocarbon Oil (fuel duty) – the tax on going anywhere, even to and from work, in your car, lorry or motor bike.
Tobacco Duty – the disappearing tax on a disappearing modest pleasure.
Alcohol Duty – the ever present fine for enjoying yourself, alone or in company, with a modicum happiness.
Environmental Taxes – where to start? Includes, in no special order, Landfill Tax, Climate Change Levy, Aggregates Levy, Carbon Price Floor, Plastic Packaging Tax. Of course it does.
Air Passenger Duty – the fine for travelling to and from holidays unless you go by private jet like politicians and luvvies.
Road Tax – Vehicle Excise Duty etc. never spent on roads or potholes of course.
Inheritance Tax – the one that gets you when you die. A lifelong’s work, building up assets from an income already taxed as above, to pass on to your children and the grubby, greedy hands of government are there. They have no shame. If they did they wouldn’t be politicians.
Now, all this wouldn’t be so bad if they spent these gigantic receipts on the principal purposes which the old Social,Contract was all about – defence of the realm, internal security of the country and infrastructure.
But they don’t and, even worse, they then borrow equivalent amounts at interest to give away on Foreign Aid (Mercedes for the rulers) the likes of India (space programme), China (China??) and Pakistan (nuclear ordnance is expensive).
To say nothing of funding foreign wars, HS2, subsidising Wind Farms and Solar Farms, Scamdemics, Illegal Immigrants, the (dis)United Nations, WHO (WHAT? more like), decorated police cars, devolved administrations and on and on with ever more virtue signalling the watchword.
Downhill in a straight line from 1997.
Ho hum.
Foootsoldier Says… 