2016 budget thoughts.....

mwpt

kabayiri wrote: »

I'd ask him to look at ways of transferring wealth from the older and wealthier in society to the impoverished younger, by wrapping it up in some pretend pension credit reforms.

(Of course, he'd have to be ratfaced to listen!)

The biggest transfer of wealth in decades has gone the other way in the form of credit expansion inflating house prices.

Generali

mwpt wrote: »

Raiding working people's pension contributions while the triple lock for retired people with existing pensions is in place. We're all in this together.

Well presumably the tax rise would be raiding MP's pensions, albeit those they earn outside the Parliamentary pension. So on that basis, Mr Cameron is in it together with you.

kabayiri

mwpt wrote: »

The biggest transfer of wealth in decades has gone the other way in the form of credit expansion inflating house prices.

People don't like property taxes. I don't know why.

mwpt

Generali wrote: »

Well presumably the tax rise would be raiding MP's pensions, albeit those they earn outside the Parliamentary pension. So on that basis, Mr Cameron is in it together with you.

Please Sire Generali, do not put me in the same category as a politician.

I don't mind tax increases but call a spade a spade, a raid on current pension contributions while locking retired payouts would all be down to voting demographics and nothing to do with fairness.

mwpt

kabayiri wrote: »

People don't like property taxes. I don't know why.

Well, we have council tax.

I looked into houses in the US once, when there was a possibility of moving there for work. I believe their form of property tax is more akin to a land value tax than here. At least in the state I looked into.

A land value tax, replacing some portion of income tax (on active and passive income) would be a better taxation in my opinion. It means people can make a decision to be more productive but live more frugally if they choose. Or they can be more productive and buy a bigger house and pay more taxes.

It'll never happen in the UK because we rely on mortgage debt to drive money supply and GDP growth.

Generali

mwpt wrote: »

Please Sire Generali, do not put me in the same category as a politician.

I don't mind tax increases but call a spade a spade, a raid on current pension contributions while locking retired payouts would all be down to voting demographics and nothing to do with fairness.

I'm not sure what all this 'Sire' thing is about. Aren't we just debating things? We are allowed to disagree. I mean !!!!!!, if I change my signature I get a bunch of people telling me I'm wrong. There were two threads devoted to the last one!

Fair point about the demographic group. I suppose it's much the same as the ruinous tax credits: Mr Blair's government trying to target C1s and C2s to vote for them because Ds and Es don't vote.

mwpt

Generali wrote: »

I'm not sure what all this 'Sire' thing is about. Aren't we just debating things? We are allowed to disagree. I mean !!!!!!, if I change my signature I get a bunch of people telling me I'm wrong. There were two threads devoted to the last one!

Fair point about the demographic group. I suppose it's much the same as the ruinous tax credits: Mr Blair's government trying to target C1s and C2s to vote for them because Ds and Es don't vote.

Whoah, it was just my attempt to lighten the tone. Misfired badly, you took it the opposite way. Let's step back

EDIT: I love your sig btw.

Generali

mwpt wrote: »

Whoah, it was just my attempt to lighten the tone. Misfired badly, you took it the opposite way. Let's step back

Oops. Sorry. I just got a bit of bad news so am quite grumpy (au pair quit, pretty much on the spot). All I can say is, "Bloody French @#$#".

mwpt wrote: »

EDIT: I love your sig btw.

Thank you.:)

I like the FACT one. And the double something mouthfeel.

Bluebirdman_of_Alcathays

Abolish Private Residence Relief for CGT, and use it to fund a reduction in Income Tax and NI. People getting rich via a gamed property market, entirely unearned, is something to discourage.

Thrugelmir

kabayiri wrote: »

Companies aren't going to pay more tax.

Higher wage costs. More employers national insurance.