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Debate House Prices
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Property tax mulled over
Comments
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No one is forcing anyone to leave their home. I suspect just like most she is making excuses as to why people should pay more just not her.
Really? Can you justify your implication that she is lying?
It seems self-evident that retired people could be forced to leave their homes if such a tax were introduced.
Picking the pockets of the elderly. What a fine country this has become.0 -
...Picking the pockets of the elderly. What a fine country this has become.
slightly less emotional & more accurate to describe it as picking the pockets of only those people, regardless of age, who have in excess of 80* times the national average pretax wage tied up in a single property.
it's seriously, seriously witless to refuse to even debate the merits of this as opposed to taxing the income of wage-earners living in rabbit hutches.
forget the elderly TBH, who to a man will have tiny mortgages on their £2m properties - the people who'd have a half-credible case for squealing are the [relatively young] ones who've got taken on north of a million quid of debt to buy their mansion & would be having their debt, rather than assets, taxed. although of course such people woudl almost always be £150k p.a. earners so there'd be swings & roundabouts.
* - maths innit, £2m divided by £25k p.a.FACT.0 -
I'm going to be interested to see how Cable & Co. think this can work.
Leaving aside the people mentioned who are asset rich but cash poor, what happens if (as is going on in many places now) prices fall & a property suddenly becomes valued at less than £2m?
The market can go up & down fairly quickly so some people would be going in & out of the mansion tax bracket like the bird in a cuckoo clock.
How often would they be having to revalue properties?
I foresee lots of problems.0 -
the_flying_pig wrote: »slightly less emotional & more accurate to describe it as picking the pockets of only those people, regardless of age, who have in excess of 80* times the national average pretax wage tied up in a single property.
But might still be living on catfood due to any number of circumstances.the_flying_pig wrote: »it's seriously, seriously witless to refuse to even debate the merits of this as opposed to taxing the income of wage-earners living in rabbit hutches.
No, what is 'seriously, seriously witless' is the envy-driven determination to tax people who may have no income whatsoever, because they own assets purchased many years ago from income on which income tax was paid.
Why not just be honest and call it the jealousy tax?0 -
Really? Can you justify your implication that she is lying?
It seems self-evident that retired people could be forced to leave their homes if such a tax were introduced.
Picking the pockets of the elderly. What a fine country this has become.
There is nothing in the article to suggest that she can't afford the suggested tax. She does not say how much her pension or income.
To be honest we are living in a time when services and income for the disabled are being cut. In my area childrens mental health services have been cut by 40% the budget at special needs school my wife teachs at cut by close 60% in the last couple of years and you want me to be really bothered about the fact that a wealthy pensioner may or may not have to leave a pad worth 2 million quid to move into something worth maybe 1m.
People need to live in the real world.0 -
God, do I hate this sanctimonious 'we're all in it together' claptrap. This isn't the Blitz and pat little phrases aren't much more than a tissue thin disguise for raw envy.
I can't stand Joan Bakewell (thanks for the laugh, the commenter earlier who described her career as 'illustrious') but even I'm not so bleak-hearted and impoverished of spirit that I would force the old fraud her to sell her home. It's her home! Have people in this country gone stark, staring mad?
This is the thing though...
Would she really have to sell her home?
If she had to sell her home to pay this tax, how on earth is she ever going to ever replace the windows or a boiler for instance? In these cases...according to her, she'd have to sell up....
I think the sell the house is an emotional over reaction.0 -
As I say we are all in this together. If you can afford to live in a 2m house you are doing pretty well whennever you bought it. I doubt there is anyone struggling to pay the bills in these types of property and if there are then maybe downsizing to 1m property maybe a thought.
I've met people with disabled children uping sticks and moving to the other end of the country to try and find work and make ends meet and I'm not sure why the wealthy shouldn't be affected by the cuts going on.
Struggling to pay the bills.... no, probably not.
Would struggle to cough up an extra £5k a year... yes probably some of them.
I've said that I personally prefer "taxing the rich" to mean "taxing the income-rich" rather than "taxing the asset-rich" - I didn't say anything about increasing taxes for people who are struggling to make ends meet or cutting services for disabled children. If people want to support the "mansion tax" because they hope it will force some people to downsize, then I can respect their opinion. I continue to disagree, though, with the statement that anybody who can afford to live in a £2m house must obviously be able to pay an extra £5k a year in tax quite easily. It may well be true for a lot of them, but it ain't necessarily so for them all.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
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Struggling to pay the bills.... no, probably not.
Would struggle to cough up an extra £5k a year... yes probably some of them.
I've said that I personally prefer "taxing the rich" to mean "taxing the income-rich" rather than "taxing the asset-rich" - I didn't say anything about increasing taxes for people who are struggling to make ends meet or cutting services for disabled children. If people want to support the "mansion tax" because they hope it will force some people to downsize, then I can respect their opinion. I continue to disagree, though, with the statement that anybody who can afford to live in a £2m house must obviously be able to pay an extra £5k a year in tax quite easily. It may well be true for a lot of them, but it ain't necessarily so for them all.
House prices won't fall as a result of a tax like this. Even if a women like this downsizes the house will be bought by someone rich who isn't going to be worried about paying 5k a year in etc taxes. if you can afford to pay 2m for a house you arent going to be bothered if its going to cost you 5k etc a year and therefore prices wont be affected.
Personally I don't care how get the super rich to pay but we are told most will live the country if you tax them more or find ways to avoid paying more and therefore if the mansion tax is the way ti get them to pay more then so be it.
Once the country is back on its feet you can always stop it.0 -
House prices won't fall as a result of a tax like this. Even if a women like this downsizes the house will be bought by someone rich who isn't going to be worried about paying 5k a year in etc taxes. if you can afford to pay 2m for a house you arent going to be bothered if its going to cost you 5k etc a year and therefore prices wont be affected.
If that's in reply to me then I'm puzzled. I never said I thought it would affect house prices. But maybe you were introducing a new aspect to the discussion, in which case fine.Once the country is back on its feet you can always stop it.
:rotfl:
I can't see that happening. It's far more likely that Hamish is right. It'll start as a tax on the super-rich, and in 30-50 years' time half the population will be paying it.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
Graham_Devon wrote: »
I think the sell the house is an emotional over reaction.
How old are you?
This is not a trick question.0
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