Wednesday, April 22, 2009

UK Budget - An Advert For The Isle of Man

As anybody who knows me will tell you, I'm no huge fan of the Isle of Man, well that's not fair exactly, it's not the island as a whole that I don't like, rather just the moronic imbreds that have positioned themselves in power via the old boys club. Anyhoo, it's not like me to big up the place but having just watched the UK budget I feel like I've got to do my part.

If You Earn More Than £150,000 A Year You Must Move To The Isle of Man!

I'm being serious. The UK budget sees a 50% tax being levied on those that earn more than £150k a year, can you believe that? Before you even get started with NI or VAT (or simply just plain old living) you get to hand over half of your wages to the tax man. Fuck that. That's knocking on the door of communism.

I'm in the lucky position of working for myself so I have some understating of what it takes to start a business from the ground up. I'm not in the UK and I certainly don't earn more than £150k a year so I'm not being biased here. It takes a shit load of work, commitment and sacrifice. Behind every successful business there is a story - usually involving struggle. Labour have decided to ignore that. They have worked on the assumption that everybody earning over 150 grand a year is unworthy of it and should have it taken from them immediately. What about the people who have spent 8 years studying law? Those that have spent 12 years training as surgeons? You fuck them and the entrepreneurs, business owners, risk takers over in order to make life better (the truth as they shall will be in the pudding of this) for the people happy enough to plod along in life. The western capitalist world is based on a notion of risk and reward, sure it can get out of hand but it is based on the idea of free will, we all set our own levels of risk that we are willing to accept. To punish those that succeed (and at the same time bring about the opportunities for those that prefer the easy life) is fucking stupidity of the highest order.

What incentive is there to run a business in the UK? What incentive is there to push yourself harder, to work harder for that pay rise? £150k a year is not a ridiculous amount to earn, not when you consider that any old shit for brains with a GCSE C in English can easily earn £30k plus in the Civil Service. The majority of the people earning big bucks in the private sector have earnt it, they bring value, if they didn't they soon get let go. Of course there is the odd piss taker, the recent economic crisis has taught us that, but they are the con men, the dirty salesmen, they are the minority not the majority of high earners.

So this is why I'd suggest anybody running a business or earning more than £150,000 seriously consider relocating to the Isle of Man. Besides the superb quality of life we enjoy our upper personal tax rate is 18%, not 50%, 18%. On top of this there is a tax cap of £100,000 in place meaning that you will not pay more than £100,000 in personal income tax. Just think of the savings for a minute. I'm not going to go into the various advantages of running your business here, that's perhaps a post for somebody from the DTI to make.

The Isle of Man government has tried to attract exactly the sort of people that the UK seems determined to punish for a while now with not much success. This budget may well provide the Isle of Man with the influx of creative, intelligent businessmen and women which it craves.


car01 said...

"What about the people who have spent 8 years studying law? Those that have spent 12 years training as surgeons?"

Yes, what about them? My taxes have paid for their training and they need to repay some of that by paying their own tax. I'm not saying I agree with 50% tax, but I'm a bit sick of people moaning about the lack of public services but who fail to see that the money has to come from somewhere.

PaulB said...

Of course everybody should pay taxes, but nobody should pay a higher percentage simply because they earn more. If they pay the same percentage they are still contributing a lot more into the pot than the 12 grand a year shop worker.