Most interesting today.
This for example. Not collecting tax which isn’t due is treason now.
And why did he say this:
B[ecasue] higher business taxes will ultimately be paid by a combination of employees (with lower wages and salaries), consumers (through higher prices), or shareholders (with lower dividends). And in an open economy, such as ours, it will probably be the employee who loses out.
This is nonsense.
No, not nonsense, it’s the standard economics of taxation.
And finally, the Exchequer Secretary to the Treasury says:
First, people’s rhetoric seeks to gloss over the relative proportion of the tax gap that is attributable to large business.
Second, their own estimates have looked at the statutory rate of Corporation Tax, and the effective rate, and classed the difference as avoidance. They’ve chosen to ignore the fact that much of the difference can be explained by double taxation relief, capital allowances, R&D tax credits, and other legitimate reliefs.
Yup, the basic criticism of Ritchie’s calculation method that first appeared right here on this blog.