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Balls on Pensions
Comments
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Basket case or not this approach has been in place for decades and that country hasn't collapsed.
No it simply keeps adding to ists debt much as the Uk does. At some point it will not be sustained."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The last time I looked Italy had a trade surplus and was close to a taxation surplus. It has a lot of government debt which is largely historical and is partially mitigated by the worlds 4th largest gold bullion reserves.0
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The last time I looked Italy had a trade surplus and was close to a taxation surplus. It has a lot of government debt which is largely historical and is partially mitigated by the worlds 4th largest gold bullion reserves.
That surplus in 2012/13 does look positive. Be nice if we had it.
Debt forecast to grow to 132% GDP in 2014 highest ever, up from 116% in 2010."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
There are taxes other than income tax, as you well know.
It would be a simple means test based on the private pension income. The alternative is simply to introduce a high rate of income tax for pensioners above a certain income level, eg. 40% rate for all those with a pension income above say £30k a year. Seems harsh, but given that they don't pay NI contributions it's not that bad really. And the poorest pensioners would be protected by the higher state pension.
Rubbish. Saving for a retirement sounds all well and good but exposes the saver to huge risks and uncertainty. Under my system people could still save for higher pensions, they wouldn't be stopped. One other alternative would be to have a flexible state pension that would be based on how much NI you wish to contribute. So, if you want to get more state pension, simply pay more NI. Upon retirement age your pension entitlement would be based on how big your NI 'pot' is.
Yeah rubbish isn't it. So the cut off is pension income above £30k. How many pensioners do you think earn more than £30k?
Maybe 1%? Cloud cuckoo land, keep believing though.0 -
The last time I looked Italy had a trade surplus and was close to a taxation surplus. It has a lot of government debt which is largely historical and is partially mitigated by the worlds 4th largest gold bullion reserves.
Yep - I'm sure the interest they earn on their gold goes a long way to offsetting what they pay on their bonds....I think....0
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