Wednesday, 1 February 2012

Scapegoat Fred

I have absolutely no sympathy for Fred Goodwin but I am also totally unimpressed with the pure window dressing associated with stripping him of his knighthood just weeks after an individual with a criminal record was awarded one. Hypocrisy rules OK. What about the luminaries on Fred's Board who either backed him, in which case they are just as guilty, or didn't realise what was going on, in which case they are the kind of incompetents that we can well do without. And what about the likes of Geoffrey Archer still hanging onto his peerage and so on and so on. What would REALLY hurt Fred, & the rest, would be to be stripped of their plush 'hello's'; 'goodbye's'; fat pensions & bonuses. Of course there are all sorts of legal issues if one attempted to do this. Since when has the law had any connection with justice? One thing is certain - the Tories will do nothing beyond ritual war dancing. Nick Clegg is arguing for higher taxes on the rich - cue cries of anguish & threats to take their talents abroad. Some might ask what talents? And add good riddance. Being pragmatic the arguments against fair taxation do not hold water. Both Obama, & [12yrs ago] George W Bush argue that no one should pay more than 30% of their income to Government. But in reality neither in the US or the UK is that happening. Only those on middle incomes pay that much. UK pensioners pay a marginal rate of about 60% as their Tax Free allowance gets progressively reduced. There are bagfuls of legal ways for the truly rich to pay very little. It has to stop.

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