It does, indeed seem to be a bad moon rising. The real moon was at its closest to us for a while on the 19th, this was taken at 8:15pm lazily from my front door… it is about 50,000 km closer to us and about 30% brighter than it is at its furthest distance. I’m not blaming it, and it was a remarkable sight, but a lot of bad crap has been happening of late, so the old Creedence Clearwater Revival song kind of fits the mood.
There’s obviously the tragedy in Japan, though all the papers seem to focus on the issues at the nuclear plant the plight of the survivors of the tidal wave seems really dire. More recently, we seem to have got ourselves into yet another oil war. I mean, yes, Gaddafi was reputed to have sponsored the IRA in the 1980s and Reagan was right when he named him mad dog but there are enough other mad dogs around the world that we are happy to leave be. Still puzzles me how the army of an small island nation can fight on three fronts at once, but so be it. I hope we won’t still be engaged there this time next year, and definitely hope not this time a decade hence…
Closer to home it’s coming up to the end of the financial year, and that’s when the portcullis is going to come down on a lot of government spending. The Grauniad has been having a bleeding-hearts fest on this, cue the violins in the background, photo of pained looking young mum with a couple of kids who seems to be losing some sort of childcare, though the article failed to tell her story. Then we have the loss of the NI Music Therapy Trust. WTF is music therapy? And why does it need to be fancy instruments, if it’s about the kids ‘expressing themselves’ then can’t we substitute the percussion instruments with dustbin lids and the like? It was good enough for me as a kid, you know, the tin cans or the more advanced version with bottles filled with varying amounts of water. This is one of those things that is undoubtedly nice if you have the spare money, but we don’t now. Let’s face it, kids playing any sort of musical instruments sounds pretty ropey unless you happen to be the doting parents, so this isn’t about sophistication and tone colour, it’s about them having a good time. As the outgoing Labour Liam Byrne said, “I’m afraid to tell you there’s no money left”. But with a bit of enterprise I’m sure we could find something for the kids to play with and make a racket for an awful lot less money, and no expensive musical instruments to break, either!
Then there was the Budget, and unlike it seems everyone else I see this one as a mean and chiseling sort of job. The tax rises are achieved through underhand methods like fiscal drag and rescaling indexation to the duplicitous Consumer Prices Index that excludes housing costs, for the very good reason that we all know Britons don’t like to spend a lot of money on bricks and mortar so there’s no point in including that. Of course Tories can’t be seen to be raising the headline rate of tax, so they grub about and frig with the tax thresholds, so you get to pay more tax anyway.
Well, Georgie babe me old mucker, I’m not paying any of your stinkin’ 40% tax, even if you bring the threshold down to 25k, as I’ve pushed my costs down well below needing that part of my salary, so I’ll be saving that in AVCs so I get to retire earlier or have more when I do retire. There’s no bloody incentive to work for tax at 42%, because I am shorter of time on this earth than I am of money. After I saved my ISA last year I’ve been building up a war chest for this year, as I could see taxes were going to go up this year.
So I could push my salary below my running costs and claw back even more tax from you this year, George. Nasty nickel-and-diming budgets like this one makes it more worth my while to do that, and indeed the increased personal allowance helps a tad. I wasn’t part of creating the credit crunch and I’m not aiming to get soaked for clearing it up, chum. But what I will be having from you, buddy, is some of those nice National Savings certificates that you cancelled last year. About £10k’s worth, actually, because then I can transfer the contents of my Cash ISA into my shares ISA and get my emergency fund inflation-proofed to real inflation, i.e. RPI, and tax-free too. I always thought it’s so rude to tax me for the paltry returns on cash that don’t even match inflation. Tax the amount over RPI, fair enough, but not the return needed to compensate for the Government’s fiscal mismanagement, that’s plain cheeky.
Monevator and his buddies are greedy tykes wanting RPI plus something in my view 😉 Living in these desperate times financially RPI and tax-free is just fine with me. I don’t ask my cash to make money for me, but what I would like it to do is sit there and stay the same value over the years, and at the moment my 3.2% Cash ISA in gently losing the fight year on year. This is my emergency fund, so it doesn’t have to try and get bigger every year, staying the same is quite okay, and RPI matches my experience of inflation in the UK. For me CPI is away with the fairies, because I don’t buy iFads which are getting cheaper, depressing the CPI.
The Creedence Clearwater Revival track I pinched the title from ain’t bad, either, I think it was the first record I ever got to play.
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