View Single Post
  #6  
Old 01-11-2011
SlowOne SlowOne is offline
Mad Member
 
Join Date: Oct 2007
Posts: 1,549
Default

It's not our money, that's quite safe in the bank you left it in. The Government didn't buy things from the banks using our money either. The problem is people who borrowed money from the banks and couldn't pay it back. Banks tied up these loans in complex financial instruments, traded them and then found they were worthless. If the Government had let the banks go bust, they would have taken our money with them.

As a taxpayer you haven't given any money to the banks, you have made them a loan on favourable terms in order to ensure that you don't lose the money you have deposited with them. The banks have to pay back that money, with interest.

As a taxpayer, you are paying more because overall this country is paying less tax as we are buying less, being paid less and more people are out of work; and yet we still have a country to run. The biggest 'crime' is the way companies pay a pittance in tax. If you are concerned about what you are having to pay and want them to pay their share, stop going to Tesco (22% tax rate) Vodafone (avoided a £4bn bill on the purchase of Mannesman) and scores of other companies avoid tax on an industrial scale. Google it!

We have borrowed huge amounts from others (via Government bonds) and eventually this has to be paid back, with interest. You can buy Government bonds and earn interest if you like - the UK's bonds are still one of the safest around.

What money of yours do you think they have that they owe you? All the people I know have not lost a penny to the banks.
Reply With Quote