Tax on pensioners proposed

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Tax on pensioners proposed

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Lyons550 Shirley 08 May 18 5.21pm
Originally posted by .TUX. The problem is that we've had over 40yrs of a fiat-currency (forced upon us) and the subsequent inflation, around 1300% since the 70's, that it brings. The more that is printed the more the existing currency is devalued ie it has less worth. This is the real issue that, as far as i'm aware, is never ever mentioned let alone addressed. Very true...heard someone say on teh radio this morning that their wages had pretty much doubled since they started work and yet the ratio of affordability for houses has gone from 2.5/1 up to 5+/1 The Voice of Reason In An Otherwise Mediocre World
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Lyons550

Shirley 08 May 18 5.21pm

Originally posted by .TUX.

The problem is that we've had over 40yrs of a fiat-currency (forced upon us) and the subsequent inflation, around 1300% since the 70's, that it brings.
The more that is printed the more the existing currency is devalued ie it has less worth.

This is the real issue that, as far as i'm aware, is never ever mentioned let alone addressed.

Very true...heard someone say on teh radio this morning that their wages had pretty much doubled since they started work and yet the ratio of affordability for houses has gone from 2.5/1 up to 5+/1

The Voice of Reason In An Otherwise Mediocre World

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.TUX. 08 May 18 5.55pm
Originally posted by Lyons550 Very true...heard someone say on teh radio this morning that their wages had pretty much doubled since they started work and yet the ratio of affordability for houses has gone from 2.5/1 up to 5+/1 Boring but important...... At one point in the 70's the average wage was £30. Had you put half in the bank and bought 1oz of Gold with the other half then your money in the bank would today be worth around £300 (at best!) but the 1oz of Gold would be worth around £1000 (it'd be more but as with everything outside of the financial system it's manipulated down). Yes Gold fluctuates, but in the long term it is always a better store of value than any given fiat-currency. This is why it has been used for over 5000yrs and also the reason every country/govt/central bank hold it. Saving fiat-currency long-term ie for pensions etc is pointless, particularly at this moment in time when fiat is nearing the end..........but the banks/financial system will never tell you that. They'll also never tell you how much they value Gold. Buy Litecoin.
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.TUX.

08 May 18 5.55pm

Originally posted by Lyons550

Very true...heard someone say on teh radio this morning that their wages had pretty much doubled since they started work and yet the ratio of affordability for houses has gone from 2.5/1 up to 5+/1

Boring but important......

At one point in the 70's the average wage was £30.
Had you put half in the bank and bought 1oz of Gold with the other half then your money in the bank would today be worth around £300 (at best!) but the 1oz of Gold would be worth around £1000 (it'd be more but as with everything outside of the financial system it's manipulated down).
Yes Gold fluctuates, but in the long term it is always a better store of value than any given fiat-currency. This is why it has been used for over 5000yrs and also the reason every country/govt/central bank hold it.
Saving fiat-currency long-term ie for pensions etc is pointless, particularly at this moment in time when fiat is nearing the end..........but the banks/financial system will never tell you that.

They'll also never tell you how much they value Gold.

Buy Litecoin.

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Spiderman Horsham 08 May 18 6.32pm
Originally posted by Cucking Funt My point is that, having paid tax all their lives, it seems a ridiculous notion that they should now have to pay more just to stick ten grand in the back pockets of kids, a luxury they themselves were not afforded. I am now retired having worked for 43 years, but do not get my state pension foe another 4 years. I have a Civil Service pension (not gold plated as the Mail would have you believe) I do occasional part-time work. I have 2 children who have just completed University education, £10000 will not help a great deal to get them on the property ladder, however what would have helped was scrapping tuition fees. My daughter completed a masters degree (now working in space industry) and left with over £50000 debt which, from the time she started her course, has been accrueing approx 6% interest. If the Govt are concerned about the youth scrap these fees or at the very least the outrageous interest rate
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Spiderman

Horsham 08 May 18 6.32pm

Originally posted by Cucking Funt

My point is that, having paid tax all their lives, it seems a ridiculous notion that they should now have to pay more just to stick ten grand in the back pockets of kids, a luxury they themselves were not afforded.

I am now retired having worked for 43 years, but do not get my state pension foe another 4 years. I have a Civil Service pension (not gold plated as the Mail would have you believe) I do occasional part-time work.
I have 2 children who have just completed University education, £10000 will not help a great deal to get them on the property ladder, however what would have helped was scrapping tuition fees. My daughter completed a masters degree (now working in space industry) and left with over £50000 debt which, from the time she started her course, has been accrueing approx 6% interest. If the Govt are concerned about the youth scrap these fees or at the very least the outrageous interest rate

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EverybodyDannsNow SE19 08 May 18 6.43pm
Originally posted by Spiderman I am now retired having worked for 43 years, but do not get my state pension foe another 4 years. I have a Civil Service pension (not gold plated as the Mail would have you believe) I do occasional part-time work. I have 2 children who have just completed University education, £10000 will not help a great deal to get them on the property ladder, however what would have helped was scrapping tuition fees. My daughter completed a masters degree (now working in space industry) and left with over £50000 debt which, from the time she started her course, has been accrueing approx 6% interest. If the Govt are concerned about the youth scrap these fees or at the very least the outrageous interest rate Sounds to me like she just needs to roll her sleeves up and work a bit harder. (Tongue very firmly in cheek).
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EverybodyDannsNow

SE19 08 May 18 6.43pm

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Originally posted by Spiderman

Sounds to me like she just needs to roll her sleeves up and work a bit harder.

(Tongue very firmly in cheek).

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Bobtail Crowborough 08 May 18 10.02pm
As a pensioner, and not a very well off one, I don't see how paying more tax would help anyone. More tax = less income = less expenditure = less jobs = more unemployment = less tax. Open your eyes, look up to the skies and see
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Bobtail

Crowborough 08 May 18 10.02pm

As a pensioner, and not a very well off one, I don't see how paying more tax would help anyone.

More tax = less income = less expenditure = less jobs = more unemployment = less tax.

Open your eyes, look up to the skies and see

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the.universal 08 May 18 10.12pm
Originally posted by Cucking Funt Why should they pay more? They've been paying all their lives. We all pay all our lives. That’s the way taxes work. Many pensioners are very well of due largely to the booming post-war economy and final salary pensions. They are more well off than many of the younger generation, which is why they should pay more. Are you a pensioner yourself? I don’t expect turkeys to vote for Christmas, but the answer to that question is very important. Fairness in taxation must be looked at unemotionally. Incidentally, my taxes went up recently due to my circumstances, a move which I wholeheartedly supported. Vive le Roy!
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the.universal 08 May 18 10.12pm

Originally posted by Cucking Funt

Why should they pay more? They've been paying all their lives.

We all pay all our lives. That’s the way taxes work. Many pensioners are very well of due largely to the booming post-war economy and final salary pensions. They are more well off than many of the younger generation, which is why they should pay more.

Are you a pensioner yourself? I don’t expect turkeys to vote for Christmas, but the answer to that question is very important. Fairness in taxation must be looked at unemotionally.

Incidentally, my taxes went up recently due to my circumstances, a move which I wholeheartedly supported.

Vive le Roy!

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the.universal 08 May 18 10.22pm
Originally posted by Midlands Eagle I guess that I come within your idea of a wealthy pensioner but a huge chunk of my income already goes to HMRC in the form of income tax. Do you expect me to pay even more? Tax increases are never an easy decision, but the fact remains that the baby boomer generation will be the first in history to earn more than their children. So who should be taxed more if not wealthy pensioners? Vive le Roy!
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the.universal 08 May 18 10.22pm

Originally posted by Midlands Eagle

I guess that I come within your idea of a wealthy pensioner but a huge chunk of my income already goes to HMRC in the form of income tax. Do you expect me to pay even more?

Tax increases are never an easy decision, but the fact remains that the baby boomer generation will be the first in history to earn more than their children. So who should be taxed more if not wealthy pensioners?

Vive le Roy!

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the.universal 08 May 18 10.25pm
Originally posted by Rudi Hedman After removing rent or mortgage housing costs, £20 a week better off. Wow. It’s ok to admit you were wrong. Vive le Roy!
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the.universal 08 May 18 10.25pm

Originally posted by Rudi Hedman
After removing rent or mortgage housing costs, £20 a week better off. Wow.

It’s ok to admit you were wrong.

Vive le Roy!

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HeathMan Purley 08 May 18 10.28pm
While I have not read every post, I recognise that many pensioners do have more spare money than younger people. We are all paying foo much for property with only the bank of mum and dad making property purchase possible for some. The upward pressure on house purchase and rental prices needs to be curtailed - giving young people £10,000.00 would contribute to the pressure, student loan debt, and making the passing of funds from the bank of mum and dad a money laundering offence would reduce the pressure. Older peoples' surplus (to daily needs) money when spent does stimulate the economy in many ways that Government control (taking funds away from them) would not. rthe young w w
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HeathMan

Purley 08 May 18 10.28pm

While I have not read every post, I recognise that many pensioners do have more spare money than younger people.

We are all paying foo much for property with only the bank of mum and dad making property purchase possible for some.

The upward pressure on house purchase and rental prices needs to be curtailed - giving young people £10,000.00 would contribute to the pressure, student loan debt, and making the passing of funds from the bank of mum and dad a money laundering offence would reduce the pressure.

Older peoples' surplus (to daily needs) money when spent does stimulate the economy in many ways that Government control (taking funds away from them) would not.

rthe young w w

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SW19 CPFC Addiscombe West 08 May 18 10.36pm
Originally posted by Stirlingsays I detect this idea in several of these posts that.....If someone has lived their life responsibly and done all the right things....that the state should reward them....you know, their people and all that. I have some sympathy for this view but it's not really a sustainable nor healthy way to run a country. The fact is the country is called Great Britain and it's about the British.....not just Mr or Mrs/Ms/Miss Sensible....you run the country for the brightest and thickest, most able and least able. Mr and Mrs Sensible didn't live their lives responsibly for the benefit of the state. They lived it sensibly purely for the benefit of themselves....like sensible people do. If they also had decent luck they received the rewards that came from that. Agreed Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 08 May 18 10.36pm

Originally posted by Stirlingsays

I detect this idea in several of these posts that.....If someone has lived their life responsibly and done all the right things....that the state should reward them....you know, their people and all that.

I have some sympathy for this view but it's not really a sustainable nor healthy way to run a country.

The fact is the country is called Great Britain and it's about the British.....not just Mr or Mrs/Ms/Miss Sensible....you run the country for the brightest and thickest, most able and least able.

Mr and Mrs Sensible didn't live their lives responsibly for the benefit of the state. They lived it sensibly purely for the benefit of themselves....like sensible people do. If they also had decent luck they received the rewards that came from that.

Agreed

Did you know? 98.0000001% of people are morons.

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Penge Eagle Beckenham 08 May 18 10.51pm
The average Millennial complains about house prices... When I ask them how much property deposit have they built up so far, they answer "zero"! (They also insist on living in zones 1-2). Baby boomers and Generation X actually saved money, didn't go away on fancy holidays and didn't eat at expensive restaurants which they post on Instagram. It's easy to blame the market and the government, but what are YOU doing about your financial future? I'm planning for retirement now. The elderly have by and large been responsible with their finances and should not be punished. The government STEAL enough money as it is... Edited by Penge Eagle (08 May 2018 11.02pm)
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Penge Eagle

Beckenham 08 May 18 10.51pm

The average Millennial complains about house prices... When I ask them how much property deposit have they built up so far, they answer "zero"! (They also insist on living in zones 1-2). Baby boomers and Generation X actually saved money, didn't go away on fancy holidays and didn't eat at expensive restaurants which they post on Instagram. It's easy to blame the market and the government, but what are YOU doing about your financial future? I'm planning for retirement now. The elderly have by and large been responsible with their finances and should not be punished. The government STEAL enough money as it is...

Edited by Penge Eagle (08 May 2018 11.02pm)

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YT Oxford 08 May 18 10.54pm
Originally posted by HeathMan While I have not read every post, I recognise that many pensioners do have more spare money than younger people. We are all paying foo much for property with only the bank of mum and dad making property purchase possible for some. The upward pressure on house purchase and rental prices needs to be curtailed - giving young people £10,000.00 would contribute to the pressure, student loan debt, and making the passing of funds from the bank of mum and dad a money laundering offence would reduce the pressure. Older peoples' surplus (to daily needs) money when spent does stimulate the economy in many ways that Government control (taking funds away from them) would not. rthe young w w If 'Mum and Dad' have all this spare money to inflate the property market, then maybe the Resolution Foundation should be recommending extra taxes on parents, not on pensioners. Edited by YT (08 May 2018 10.58pm) Palace since 19 August 1972. Palace 1 (Tony Taylor) Liverpool 1 (Emlyn Hughes)
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Oxford 08 May 18 10.54pm

Originally posted by HeathMan

While I have not read every post, I recognise that many pensioners do have more spare money than younger people.

We are all paying foo much for property with only the bank of mum and dad making property purchase possible for some.

Older peoples' surplus (to daily needs) money when spent does stimulate the economy in many ways that Government control (taking funds away from them) would not.

rthe young w w

If 'Mum and Dad' have all this spare money to inflate the property market, then maybe the Resolution Foundation should be recommending extra taxes on parents, not on pensioners.

Edited by YT (08 May 2018 10.58pm)

Palace since 19 August 1972. Palace 1 (Tony Taylor) Liverpool 1 (Emlyn Hughes)

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