Wednesday, December 29, 2010

I owe my soul to the company store

It's an old Tennessee Ernie Ford song about the days when mine owners would only pay their workers in chits which could only be redeemed at the company store, the prices were of course inflated and by the time pay day came along they owed money to the mine owner, a vicious and self perpetuation situation where they could not escape their debts.

NEXT week’s VAT rise means Britons will have to work three extra days before they earn enough money to cover their annual tax bill.
The Adam Smith Institute predicts that “tax freedom day” would fall on May 30.
It means the equivalent of every penny earned by the average worker for the first 149 days of the year will go to the Treasury.
The think-tank said it is six days more than in 2009 and three more than this year.
It is almost entirely down to the extra revenues the Government will rake in by increasing the sales tax from 17.5 per cent to 20 per cent on January 4.
It will be the longest period for the milestone since 2007 when it stretched into June and has led to calls for targeted tax cuts next year.
Tom Clougherty, the Institute’s executive director, said: “The fact that we spend almost five months working for the state and only seven months working for ourselves is a shocking indictment of big, wasteful government. Britons are still desperately overtaxed.” 

5 whole months before anything you earn actually becomes yours! 3 days longer because of the VAT hike imposed to try and reduce the debt Labour saddled us with! A government which is still spending more of our money because it refuses to grasp the nettle and reduce its size and scope. A government which pours billions of our cash daily into the EU who still after 15 years can't get the auditors to sign off its books. A government which ring fenced £9 billion of foreign aid whilst pensioners were hit with higher fuel bills and died in the recent cold snap. A government which ring fenced Health Care whilst wages went up and productivity went down. A government so incompetent that they only managed to slow down borrowing rather than get it paid back.
And the Tories used to boast about being the party of small government!
Liars, cheats and economic incompetents!

Some people say a man is made outta mud
A poor man's made outta muscle and blood
Muscle and blood and skin and bones
A mind that's a-weak and a back that's strong

You load sixteen tons, what do you get
Another day older and deeper in debt
Saint Peter don't you call me 'cause I can't go
I owe my soul to the company store


2 annotations:

Nomine said...

Niiice piece as usual m8, it is time we just point bank refused to bail them out of the mess they have gotten us into.
I will never pay them any tax that I can avoid paying them that is for certain!
Time for a new resolution to their 'old' problems!

All Seeing Eye said...

You'd never believe it though, would you, from the bleats of the vested interests. You'd think some bloodthirsty baby eater was loose in the Treasury.

In reality public spending (excluding interest payments) is heading back to the dark dark days of 2006 levels when hospitals were forced to open and children begged openly in the streets for XBox games.

The stupidity of it all is that people will read about this in the paper and there will be wailing and gnashing of teeth. Then they will turn the page, read about some trivial cut or other and wail about that too. You can't have it both ways, and it seems with this government you can't have it either way.