wayne rooney Mr Cameron, Wayne Rooney!

[SpookilyDoodleydoohoohoooooo]

here

I think I feel slightly sick! Tax him, tax his club, greedy little man.

As you were.

the tabloids have said he is greedy-its all over the front covers.

Murdochs press have failed to point out however, that there are other people who are more greedy in the UK. For example, a few Tory MP's, or high street shop "Managers" who are greedy-they have thousands/millions that they will never pay a penny tax on. They are greedy. They are greedy and then have the nerve to tell us we are in it together and blatently tell lies to the whole of the UK while they shaft us. They are truely greedy. Hmm, wonder why there isnt a sneaky other tax band

Is this a call for Wayne Rooney to be Prime Minister? I'm sure he's politically astute enough - after all he managed to wring a huge amount of money out of a company with real liquidity issues - but I really don't think he'd take the pay cut.

you are entitled to that opinion but I doubt that you are paid millions. I just happen to not share that view.

Rather him Pm than Cammeron.

A higher tax band wouldn't bring anymore revenue and would discourage entrepeneurship.

Of course I don't get paid millions. Did I claim to?

Your style of debate is truly bizarre.

There is something called the Laffer Curve

Read about it. It explains that if you increase tax rates above a certain level (popularly supposed to be around the 40%-45% mark) you actually decrease the overall tax revenue. People reduce the amount of work that they do or they relocate.

When the Labour Government pushed the top rate of tax in the UK up to 50%, they publicly acknowledged that this would not actually increase tax revenues. But it was a sure and certain vote winner for the poor and dispossessed.

Rooney is taxed at 50% this means the State keeps half of his income, is that not enough. I would have a problem with the Government keeping more income than the person

I know. you said it wasnt the states money. you are right, it is not, your earnings are yours and quite right too. but what you earn you pay tax on. if you earned such a lot of money [millions] then you may not mind being taxed on it a few percent more as you would stil have lots and lots left.

I have heard of this curve. did labour say the 50% was to win votes then?

They didn't say it but they talked about fairness and making sure those in a position to pay more did pay more but it didn't bring in much extra revenue. It was mainly a policy to please Labours grassroots although it may have brought a little more tax revenue in.

'much'? better than nowt though? And if you take care of the pennies, the pounds take care of themselves?

was the person who invented the Laffer curve having a laff? Was this person paid by fat cats to come up with a scientific reason explaining why tax rates shouldn't be increased?

oh fgs, this is nonsense. Yes it's a ridiculous figure, but the govt are going to get half of this money!
why the hell shouldn't he do as much as he can to get as much as he can.
I'm really not a Rooney fan, but what a load of fuss about nothing.

The laffer curve is a fairly well accepted principle of taxation claig. Most western Governments have accepted this when calculating their tax rates. That is why no country has an income tax rate of 70% anymore

yes I agree I'm not in favour of taxing people too highly, including millionaires.

Its not just about being against it is counterproductive as if the tax rates rise too high then revenues fall due to people leaving the country and increased tax avoidance.

Anyway savings are taxed, and spending is taxed with VAT, and if Rooney spends his money, it goes back into the economy and then gets taxed again.

I seem to remember - from my dim and distant Economics A'Level - that the Laffer Curve showed a maximum tax rate of 60% before revenues started to fall.

Anyhow, some could argue that Rooney is actually contributing more to the economy with his new pay deal - after all, 50% of £250k per week is a heck of a lot more than 50% of £125k.

Here's Wiki on the Laffer Curve See exactly where the curve tips over is a matter for debate. From memory the Reagan government thought it was around 30%. Most governments have a top rate of tax around the 40% mark. The Scandanavians and the French have higher top rates, as do we, now.

The economies that have gone for the flat rates of tax - predominantly in Eastern Europe - are starting to move away from that now.

I just don't see what someone does with all that money. And how they don't at least 1/2 of it away, given that they'd still have a fucking fortune left.

There is something obscene about him doubling his salary in a week when the CSR was announced.

Still, he looks miserable as fuck whatever

how they don't give at least 1/2 of it ...

My sister has earned a 40% pay rise this week headless admittedly she's not on Rooneys salary or anything near it but it doesn't make me sick just because she's done it in the same week as the CSR.

I presume your sister hasn't been all over the papers though pallette. I didn't say it made me sick either, just that there was something a bit obscene about the timing. I'm not sure what your point is.

40% is peanuts compared to rooney.

is the laffer curve out of date?

No the laffer curve isn't out of date its probably more relevant than ever. With the free flow of people and capital it has never been easier to move your money and yourself abroad to countrys with lower rates of taxation.