Freedom Wealth Management - A trading style of Freeman Financial Ltd’s Post

The government often spends more than it collects in taxes, leading to a budget deficit. To bridge this gap, it borrows money, which must be repaid with interest 📶 This borrowing can have a substantial effect on future tax and spending decisions, as the government must allocate resources to repay the debt. An interesting read in the BBC recently, explaining the UK Government’s current borrowing and what this could mean for our taxes ➡️ https://lnkd.in/gajkep-j ⬅️ #uktaxes #thebudget

The government often spends more than it collects in taxes, leading to a budget deficit. To bridge this gap, it borrows money, which must be repaid with interest 📶 This borrowing can have a substantial effect on future tax and spending decisions, as the government must allocate resources to repay the debt. An interesting read in the BBC recently, explaining the UK Government’s current borrowing and what this could mean for our taxes ➡️ https://lnkd.in/dpiCRP4 ⬅️ #taxes #taxdeficit

The government often spends more than it collects in taxes, leading to a budget deficit. To bridge this gap, it borrows money, which must be repaid with interest 📶 This borrowing can have a substantial effect on future tax and spending decisions, as the government must allocate resources to repay the debt. An interesting read in the BBC recently, explaining the UK Government’s current borrowing and what this could mean for our taxes ➡️ https://lnkd.in/dpiCRP4 ⬅️ #thebudget #taxes #taxdeficit

The government often spends more than it collects in taxes, leading to a budget deficit. To bridge this gap, it borrows money, which must be repaid with interest 📶 This borrowing can have a substantial effect on future tax and spending decisions, as the government must allocate resources to repay the debt. An interesting read in the BBC recently, explaining the UK Government’s current borrowing and what this could mean for our taxes ➡️ https://lnkd.in/dN2gRk-Q ⬅️ #thebudgetuk #ukgovernment #taxes #taxdeficit

Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget. Read our blog - https://ow.ly/T2qF50QAFfq Does this affect you? Contact us today #GovernmentBorrowing #ChancellorJeremyHunt #TaxCuts #SpringBudget

Budget 2024 Reaction | How Capital Gains Tax Really Strikes Us All! Infinite Banking Canada Group colleague Michael Sidhu reacts to the CANADA BUDGET 2024, particularly how this affects not only "the rich" but ALL OF US! Despite claims of fairness, the language used by the Liberals is open to interpretation. HOW MUCH VALUE HAVE YOUR ASSETS LOST WITH THIS BUDGET? https://lnkd.in/gZmeQADm #ibcanadagroup #dofinancial #Budget2024

Is it a spend or revenue issue? "In the latest fiscal year, which ran to the end of September, the federal government raked in more than $4.4 trillion in receipts from individual taxpayers, with nearly half of that sum stemming from individual income taxes ($2.18 trillion). But, ... the government's spending appetite consistently outpaces its income, resulting in a deficit of $1.7 trillion… The magnitude of the national debt, currently ~$34 trillion in total, means that the government is shelling out nearly $2 billion a day on interest payments (~3% of GDP) just to service the debt. Were the government to somehow magically wipe out its debt — leaving it with no interest to pay — it would have saved a whopping ~$660 billion last year, though that still wouldn't be enough to get the overall federal budget back into the black." Chartr #governmentspending #economicimpact #taxation #deficit #fiscalpolicy #nationaldebt

How can local authorities better manage council tax debt? 🔎 In our latest insight, Paul Mason discusses four ways local authorities can better manage council tax arrears during the cost of living crisis. These include: 🌐 Improve your data insight 🧵 Tailor recovery and communications to the individual 🧑💻 Engage early and digitally 📈 Increase your support capacity Visit our website to learn more ➡️ https://lnkd.in/dGHQuY4t

I saw this picture and am sharing it to make a point. The rich and super wealthy should pay their fair share of taxes. So should corporations. Even if we had a wealth tax based on asset value as opposed to an income tax, we would barely scratch a dent in the annual federal deficit. I would love to hear your pontifications about how to substantially reduce the anunual federal deficit, i.e. move towards a balanced budget. How can that even happen at this point? In 2023, the federal government spent $658 billion on net interest costs on the national debt. That total, which grew by 38 percent from $476 billion in 2022, was the largest amount ever spent on interest in the budget and totaled 2.4 percent of gross domestic product (GDP).

New Insights on UK Economy! 📉 Dive into the article below and explore why the UK's tax cut plans may face challenges. March's unexpected high borrowing figures and soaring public debt have put a damper on potential pre-election tax breaks 🔍 Read More: https://bit.ly/44dqXWL #UKFinance #EconomyNews #TaxCuts #FinancialInsights