0:00
and of course what we should actually do
0:01
is just as I think someone said John
0:03
Oxley said in CCM today we should just
0:05
abolish national insurance is a complete
0:07
fiction all the money goes into the same
0:09
pot anyway by and large I think there's
0:11
a technical hypothecation whereby you
0:14
know if you bring in more than you
0:15
assume then you buy some guilt but I
0:17
don't think that ever works abolish the
0:19
whole thing employers and employees
0:20
national insurance roll it all into a
0:22
single income tax that would be a lot
0:24
more honest and we wouldn't have to
0:25
worry about headlines like this yeah
0:27
let's be clear i think people think that
0:29
national insurance contributes to some
0:31
kind of pot that you pay into and you
0:32
get it back later in your life but it's
0:34
not that it's not that way at all
0:35
national insurance is essentially I
0:36
think I saw Robert Cville on Twitter
0:38
call it income tax with a false star
0:41
yeah that's exactly right like Mr snub
0:43
in the Simpsons not being Mr burns yeah
0:45
you're exactly right and it' be
0:47
interesting to see any details of the
0:48
American uh deal if when it comes along
0:51
my wife is American and not only has to
0:53
pay income tax here and employees
0:55
national insurance and an NHS sir charge
0:58
by the way she also still has to pay
0:59
federal taxes back in the United States
1:02
because they're one of only three
1:03
countries in the world that requires
1:04
that as well and so if we want to be
1:06
attracting the best and the brightest
1:08
I'm not just saying that cuz I'm married
1:09
to one of them america counts as lots of
1:11
that you know we're going to have to
1:12
look at incentives for this but it does
1:14
look pretty rum when you're actually
1:16
whacking up taxes for hardworking and
1:18
hardpressed Brits in order to then make
1:20
it easier for companies here to employ
1:23
Indians rather than Brits
