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CONservative government incompetence.
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 EverybodyDannsNow  SE19 13 Dec 23 1.33pm |
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Originally posted by Wisbech Eagle
As an older “boomer” it might surprise some that there is much here that I agree with. I was surprised that the triple lock wasn’t abandoned at the Autumn review and can only conclude that it wasn’t to keep the grey vote onside. It no longer makes economic sense and needs to go, even though I will suffer. Taxing wealth is essential. It should have been done years ago blended with a reformed inheritance tax system. How it is done is another question but the basic principle that the more you have the greater the burden needs to be gradually tightened. Avoiding the tax avoiders is the key. Kudos to you. Our tax system is grossly unfair, as it is designed to be of course.
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 Hrolf The Ganger 13 Dec 23 1.42pm |
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Originally posted by EverybodyDannsNow
Kudos to you. Our tax system is grossly unfair, as it is designed to be of course. The most unfair tax of all is inheritance tax. You pay tax on money that has already been taxed. It also reduces generational wealth, which basically stops us plebs from moving up in the world.
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| Hrolf The Ganger 13 Dec 23 1.48pm |
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Originally posted by Wisbech Eagle
As an older “boomer” it might surprise some that there is much here that I agree with. I was surprised that the triple lock wasn’t abandoned at the Autumn review and can only conclude that it wasn’t to keep the grey vote onside. It no longer makes economic sense and needs to go, even though I will suffer. Taxing wealth is essential. It should have been done years ago blended with a reformed inheritance tax system. How it is done is another question but the basic principle that the more you have the greater the burden needs to be gradually tightened. Avoiding the tax avoiders is the key. Says the man who makes his money from rent. Why would you want to penalise pensioners? It's funny that you celebrate newcomers arriving here in their millions and putting a huge strain on the countries resources and then want to make people who have lived and worked here their whole lives suffer. Utterly repulsive. Edited by Hrolf The Ganger (13 Dec 2023 2.00pm)
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| EverybodyDannsNow SE19 13 Dec 23 1.56pm |
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Originally posted by Hrolf The Ganger
The most unfair tax of all is inheritance tax. You pay tax on money that has already been taxed. It also reduces generational wealth, which basically stops us plebs from moving up in the world. It's certainly one of many in our shoddy system, yes. The basic principle that we tax income made through employment at a different rate than other forms of income has never any sense. The entire system is designed to limit economic mobility.
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| Wisbech Eagle Truro Cornwall 13 Dec 23 2.04pm |
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Originally posted by Hrolf The Ganger
Says the man who makes his money from rent. Why would you want to penalise pensioners? It's funny that you celebrate newcomers arriving here in their millions and putting a huge strain on the countries resources and then want to make people who have lives and worker here their whole lives suffer. Utterly repulsive. I am a pensioner who invested some of his savings into converting an old empty property into 3 separate smaller units, which are much needed. Yes I now draw an income from them but regard what I did as socially responsible. I could have just bought holiday accommodation and made more money. I didn’t want to penalise pensioners. I think the mechanism for adjusting the state pension is now due for retirement too. Your last paragraph is just you banging your usual drum and creating a lot of unpleasant noise.
For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally. |
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| EverybodyDannsNow SE19 13 Dec 23 2.08pm |
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Originally posted by Hrolf The Ganger
Says the man who makes his money from rent. Why would you want to penalise pensioners? It's funny that you celebrate newcomers arriving here in their millions and putting a huge strain on the countries resources and then want to make people who have lives and worker here their whole lives suffer. Utterly repulsive. Our tax system has always been weighted, and pensioners are amongst the wealthiest demographic in the country. Why is it controversial to suggest they should carry a bigger burden? One in four pensioners in the UK is a millionaire. A median pensioner has a higher income (excluding wealth) than a median working-age adult. 3/4s of all pensioners own their property outright. A graph of poverty rates/age group used to be a near perfect U-shape: high poverty rates amongst the old and the young - it's now essentially a downward slope the older you get. The times of poor old pensioners living in poverty are largely over, predominantly due to the explosion in house values over the last few decades - our tax system should be adjusted to reflect that reality. Edited by EverybodyDannsNow (13 Dec 2023 2.09pm)
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| Hrolf The Ganger 13 Dec 23 2.15pm |
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Originally posted by Wisbech Eagle
I am a pensioner who invested some of his savings into converting an old empty property into 3 separate smaller units, which are much needed. Yes I now draw an income from them but regard what I did as socially responsible. I could have just bought holiday accommodation and made more money. I didn’t want to penalise pensioners. I think the mechanism for adjusting the state pension is now due for retirement too. Your last paragraph is just you banging your usual drum and creating a lot of unpleasant noise. Many old people rely solely on their state pension. If you want to save money, stop wasting it on housing and supporting sponging immigrants. Also, get even tougher on immigrant fast food businesses avoiding tax.
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| Badger11 Beckenham 13 Dec 23 2.15pm |
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Originally posted by EverybodyDannsNow
Our tax system has always been weighted, and pensioners are amongst the wealthiest demographic in the country. Why is it controversial to suggest they should carry a bigger burden? One in four pensioners in the UK is a millionaire. A median pensioner has a higher income (excluding wealth) than a median working-age adult. 3/4s of all pensioners own their property outright. A graph of poverty rates/age group used to be a near perfect U-shape: high poverty rates amongst the old and the young - it's now essentially a downward slope the older you get. The times of poor old pensioners living in poverty are largely over, predominantly due to the explosion in house values over the last few decades - our tax system should be adjusted to reflect that reality. Edited by EverybodyDannsNow (13 Dec 2023 2.09pm) I didn't know that, there are 12.6m people drawing state pension so that means 3.5m millionaires. Well I have learnt something today.
One more point |
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| EverybodyDannsNow SE19 13 Dec 23 2.17pm |
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Originally posted by Badger11
I didn't know that, there are 12.6m people drawing state pension so that means 3.5m millionaires. Well I have learnt something today. It's obviously propped up by the fact most pensioners own their property outright, but it is a real figure.
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| Hrolf The Ganger 13 Dec 23 2.19pm |
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Originally posted by EverybodyDannsNow
Our tax system has always been weighted, and pensioners are amongst the wealthiest demographic in the country. Why is it controversial to suggest they should carry a bigger burden? One in four pensioners in the UK is a millionaire. A median pensioner has a higher income (excluding wealth) than a median working-age adult. 3/4s of all pensioners own their property outright. A graph of poverty rates/age group used to be a near perfect U-shape: high poverty rates amongst the old and the young - it's now essentially a downward slope the older you get. The times of poor old pensioners living in poverty are largely over, predominantly due to the explosion in house values over the last few decades - our tax system should be adjusted to reflect that reality. Edited by EverybodyDannsNow (13 Dec 2023 2.09pm) They have worked a lifetime to earn that position. It's not hard to be a millionaire in London when houses are worth most of that. You will be a pensioner one day, and then you will change your socialist tune, I've no doubt.
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| Badger11 Beckenham 13 Dec 23 2.24pm |
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Originally posted by EverybodyDannsNow
It's obviously propped up by the fact most pensioners own their property outright, but it is a real figure. Sure, I wasn't being sarcastic by the way I really didn't know that. Just occasionally on here someone drops a nugget that makes me think. My flat is worth about 0.5m, come the day when my state pension is not enough I will use the equity to subsidise my income.
Edited by Badger11 (13 Dec 2023 2.24pm)
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| EverybodyDannsNow SE19 13 Dec 23 2.37pm |
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Originally posted by Hrolf The Ganger
They have worked a lifetime to earn that position. It's not hard to be a millionaire in London when houses are worth most of that. You will be a pensioner one day, and then you will change your socialist tune, I've no doubt.
I will be a pensioner one day, but my house won’t be worth 25 times what I paid for it when I’m eventually allowed to retire. I also tend not to chose a position on topics based on my own personal greed.
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