The Instigator
boggleface
Pro (for)
Losing
0 Points
The Contender
Illegalcombatant
Con (against)
Winning
8 Points

The UK should raise more in tax revenue by slashing taxation on business

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Voting Style: Open Point System: 7 Point
Started: 4/19/2011 Category: Economics
Updated: 6 years ago Status: Voting Period
Viewed: 877 times Debate No: 16039
Debate Rounds (3)
Comments (3)
Votes (2)

 

boggleface

Pro

By reducing the strain on businesses - reducing tax and regulation - the government will stimulate growth and thereby increase its overall tax revenues. This is the best way to recover from the economic crisis and repay debts. Certain bodies should be regulated such such as those who created the crisis in the first place - the banking industry.
Illegalcombatant

Con

I thank Pro for instigating this debate.

1) Decreasing tax rates does not necessarily mean more total tax will be collected (even if there is increased economic activity)

To illustrate this point, imagine that taxes on income both personal and corporate and sales tax were reduced to 1 percent. Even if this resulted increased economic activity the net over all tax revenue would be lower.

2) All regulations are a compliance cost to a business or persons they directly apply too, but regulations can increase overall economic activity

Consider for example food regulations, to comply with these food regulations obviously will incur a cost. But there can be an overall increase in economic activity because of the regulations. How much of a wealth generating economy do you think you will have with a sizable chunk of your work force with constant diarrhea.

3) Better ways for a government to increase revenue and/or pay off debt

- Tougher tax compliance, eg no allowing for income to be filtered in various ways to avoid tax Example trusts, tax safe havens, tax law loop holes.

- Increase tax on "passive" income/rent seekers "Rent-seeking generally implies the extraction of uncompensated value from others without making any contribution to productivity, such as by gaining control of land and other pre-existing natural resources, or by imposing burdensome regulations or other government decisions that may affect consumers or businesses." [1]

I look forward to Pros response.

Sources

http://en.wikipedia.org...
Debate Round No. 1
boggleface

Pro

boggleface forfeited this round.
Illegalcombatant

Con

Extend my arguments.
Debate Round No. 2
boggleface

Pro

I extend my finger. Not the debate I was hoping for. How do I cancel and erase it forever?
Illegalcombatant

Con

You can't, it is on the interwebs, as such has now reached an immortal God like state.

I ask the vote go to Con.
Debate Round No. 3
3 comments have been posted on this debate. Showing 1 through 3 records.
Posted by jeeoh 6 years ago
jeeoh
You used wiki for your evidence. Wikpedia isn't a reliable source.
Posted by boggleface 6 years ago
boggleface
What are your opinions Brian?
Posted by brian_eggleston 6 years ago
brian_eggleston
Too good to miss: I'll take it! At least I would do but I won't have time to reply until tomorrow at the earliest, I hope it's still here.
2 votes have been placed for this debate. Showing 1 through 2 records.
Vote Placed by Zarroette 2 years ago
Zarroette
bogglefaceIllegalcombatantTied
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Total points awarded:04 
Reasons for voting decision: ff
Vote Placed by BlackVoid 6 years ago
BlackVoid
bogglefaceIllegalcombatantTied
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Total points awarded:04 
Reasons for voting decision: Should be obvious