DefTrap wrote: ↑Fri Oct 21, 2022 11:29 am
Back to the OP. Of course I want more money in my pocket. I also want stable, thoughtful government that isn't 60% about The Party beating itself to death, 30% going on holiday, and 10% policy making.
Just to be contrarian I'd happily pay more tax and have less in my pocket if
a) I thought the money would be spent making the country a better place to live for this and future generations and not either, siphoned off to make a bunch of spivs richer, or handed out to any oxygen-thieving, bone idle loafers. There are countries with a higher tax burden than ours where people complain less about it because they can see that most of it isn't wasted and
b) Others (individual and business) paid their share according to their means.
A relative who live abroad in a high tax high spend economy would have agreed with you on point a), right up to the moment he earned enough to start paying the higher rate of tax.
What was it Healey said, 'Tax them 'til the pips squeak'.
v8-powered wrote: ↑Fri Oct 21, 2022 9:58 am
Yep - agree.
They do that and I'll put a big family out on the streets and I'll sell the house for a tidy profit. I don't make an awful lot of profit after tax, agent fees etc anyway and have left their rent the same for over 5 years, they'd never get a house like they live in currently.
I'm not a big greedy landlord, just a normal bloke that is fortunate enough to have a nice 2nd home that I choose to rent out - tax me any more on the property and they can do one......
It would be good for them though.
The price of property would drop, it wouldn't be worth you renting it out, you'd sell it and those people that currently line your pockets could buy it and keep it in their family, then their kids would never have to worry about being homeless -
But the kids can't have the family home until the parents die.
If they want to raise a family, they'll need to rent till the parents die.
And if several offspring, who's gonna get to live in the family home?
IMO capitalism is on the cusp. It might ease back and become a bit more inclusive and benign, or spivery could continue to take over the world. Time will tell, but the writing is on the wall. Markets (ie hedge funds and investment bankers chasing mega-bonuses) are more powerful than governments. That has been proved in the last month. Billionaires (eg Elon Musk) are starting to interfere with foreign policy, and all of them can easily avoid any national taxes.
If it carries on heading this way democracy is dead, and the only way to survive will be to subsist on the crumbs from the top table. Or tip over the table by violent means.
If Greta et al are right (and I am not entirely convinced) we have a very small window to do some mahoosive societal changes. The mega-rich won't like that, unless of course they are exempt and it is only us plebs who have to radically change our lifestyle. That itself would be likely to provoke the violent 'tip over the table' reaction. If we don't change, and climate change really bites there will be billions of refugees all heading for high ground, and that won't be pretty. And, of course, if Greta et al are wrong, climate change will probably happen anyway as a natural cyclic thing.
I'm not sure any rational person would accept the PM job at the moment, and anyone who puts themselves up for it should probably be certified.
v8-powered wrote: ↑Fri Oct 21, 2022 9:58 am
Yep - agree.
They do that and I'll put a big family out on the streets and I'll sell the house for a tidy profit. I don't make an awful lot of profit after tax, agent fees etc anyway and have left their rent the same for over 5 years, they'd never get a house like they live in currently.
I'm not a big greedy landlord, just a normal bloke that is fortunate enough to have a nice 2nd home that I choose to rent out - tax me any more on the property and they can do one......
Same here - my current property is let way below market rate (it's not me setting the market rate ffs) and whilst that's costing me, they're good, respectful tenants and they look after my property pretty well. We're not all stacking them in 10 to a room with the cockroaches. I'm considering selling up soon and they will get a bit of a shock unfortunately when they need to rent somewhere else. Yeah I'm making money out of it but I bought well, managed it well and have ensured greater than 96% occupancy over 14 years. There's some graft in there and not a small amount of risk, in general the law could not give one shit about the rights of landlords.
I'm not remotely guilty about making money out of property. It's an investment same as anything else - I'm a small time player in the great scheme of things and if I lost it all tomorrow because government has suddenly decided that actively tanking house prices is a vote winner then yes it would significantly screw up my retirement.
Liza truss is in line for £115k per year for life for doing six weeks work. During that six weeks her and her mates have stuffed the economy for many years to come for thousands maybe millions of family’s for many years to come.
Wscad wrote: ↑Fri Oct 21, 2022 7:54 pm
Liza truss is in line for £115k per year for life for doing six weeks work. During that six weeks her and her mates have stuffed the economy for many years to come for thousands maybe millions of family’s for many years to come.
She has to claim it, with receipts to prove it was spent on public duties where she appears as 'ex-pm'
It's not for personal use, or for investing in private endeavours.
KungFooBob wrote: ↑Fri Oct 21, 2022 7:56 pm
She has to claim it, with receipts to prove it was spent on public duties where she appears as 'ex-pm'
Can't imagine she's gonna be in hot demand as an ex-PM. Her memoirs could be given away with a Happy Meal.
BTW, FWIW - I kinda agree with Iccy on the rental thing and I kinda don't. On the one hand, yeah houses for are living in and I totally see where he's coming from. But on the other, I've lived in rented accommodation myself plenty, I'm sure we all have, at the time I needed somewhere to live and I'm glad there was someone to rent me something. S'one of those "damned if you do" things really IMO. So yeah, pretty fuckin' nothing opinion on the whole matter, sorry to waste your time
Back to the OP though; IMO it's all a bit small fry and 'wet' these days. No-one does mega projects and 'vision' any more*. I DGAS about 1p on income tax** or 45p top raters. Promise me you're gonna make it so everyone gets a free wind turbine, dairy farms are all gonna be nationalised, rotary dial phones are gonna be mandatory. I dunno, something.
The government don't pay for old age care homes. If you have more than 23k assets (including your home) you have to pay for it yourself. If you have more that 14k you still have to pay some of it. Its only when you're <14k you'll get it "for free" but you'll still be handing over all of your pensions.
DefTrap wrote: ↑Sat Oct 22, 2022 8:57 am
It's easy to have a clear head about taxation and benefits if you're not disadvantaged / disabled / old / thick I suppose.
If you are any of those things and your family have abandoned you then it says more about the society you live in than it does about taxation.
Pump your kids out and throw them at the government to deal with, and while you're at it throw them your old and disabled as well.
Then blame the government for not raising enough money to cope.
Western society is morally bankrupt, stealing 40% of my family home from my kids won't fix it for you.
It's either taxation or the threat of divine retribution. Relying on goodwill doesn't really cut it. Like all of these things, unless you have a house full of the disabled, orphans or the elderly that you're looking after, then you can do one with the social studies essay
Of course in the old days it was both taxation and divine retribution and they used the taxation to smash up the files with the wrong religions.
Jody wrote: ↑Fri Oct 21, 2022 5:08 am
Shake up of the personal property system:
All searches etc are performed by the estate agent BEFORE they are allowed to list the house. Costs of the fees to form part of the cost to the seller (buyer doesn't pay any). All Sales of private property must complete in 5 working days.
And to help that happen
Guaranteed acceptance of mortgage with payments at 80% of your current rent payment if you have made 36 consecutive payments on time. To balance that, if you do default in the first 10 years you lose everything. However if you are struggling, mortgage terms can be extended to reduce payments.
Taxes on 2nd homes to be huge.
Taxes on BTL and rental property income to be huge.
Those last two will free up properties for all those people now able to buy!
I say all this as someone who has had a BTL property for the last 15ish years!
Will that not just drive the price of renting sky high so many people can't afford it?
Yes and then landlords who find that no-one wants to rent thier property will sell it instead!
Jody wrote: ↑Fri Oct 21, 2022 5:08 am
Shake up of the personal property system:
All searches etc are performed by the estate agent BEFORE they are allowed to list the house. Costs of the fees to form part of the cost to the seller (buyer doesn't pay any). All Sales of private property must complete in 5 working days.
And to help that happen
Guaranteed acceptance of mortgage with payments at 80% of your current rent payment if you have made 36 consecutive payments on time. To balance that, if you do default in the first 10 years you lose everything. However if you are struggling, mortgage terms can be extended to reduce payments.
Taxes on 2nd homes to be huge.
Taxes on BTL and rental property income to be huge.
Those last two will free up properties for all those people now able to buy!
I say all this as someone who has had a BTL property for the last 15ish years!
Will that not just drive the price of renting sky high so many people can't afford it?
Yep - agree.
They do that and I'll put a big family out on the streets and I'll sell the house for a tidy profit. I don't make an awful lot of profit after tax, agent fees etc anyway and have left their rent the same for over 5 years, they'd never get a house like they live in currently.
I'm not a big greedy landlord, just a normal bloke that is fortunate enough to have a nice 2nd home that I choose to rent out - tax me any more on the property and they can do one......
But with my idea making mortgages easily available for thiae that can afford it, they'd buy the house of you instead!
v8-powered wrote: ↑Fri Oct 21, 2022 9:58 am
Yep - agree.
They do that and I'll put a big family out on the streets and I'll sell the house for a tidy profit. I don't make an awful lot of profit after tax, agent fees etc anyway and have left their rent the same for over 5 years, they'd never get a house like they live in currently.
I'm not a big greedy landlord, just a normal bloke that is fortunate enough to have a nice 2nd home that I choose to rent out - tax me any more on the property and they can do one......
It would be good for them though.
The price of property would drop, it wouldn't be worth you renting it out, you'd sell it and those people that currently line your pockets could buy it and keep it in their family, then their kids would never have to worry about being homeless - well until the socialists got their way and then they'd have to sell it to pay the tax burden on it.
I try to be a realist, money has to move around, that's how the world works, and if you put money into a business, the markets, financial investments, etc - then I'll compete with you and try to steer some of it in my direction, in fact I might try and clear the table and take it all, that's business, but I'll only try to win what you put on the table, I won't come after your family home via taxation or a portion your kids inheritance.
Trust me, I've told the agent that if they ever want to buy it at below market rate then I'd sell it to them however they are not able to get the mortgage for it.
If they ever find they can, it's theirs.....
Did you completely miss the part about automatic mortgage acceptance??
I’m not sure mortgage acceptance is the issue, for a lot of rental tenants getting together the 20% deposit while paying rent is the largest stumbling block.
What about the people who don't want to buy? If you're only staying somewhere for a year or two do you have to buy a house then? Or just pay the inflated rents brought about by a tax which is trying to solve a problem that doesn't actually affect you?
I'd happily pay more tax and have less in my pocket if
