msi

"I fought the law and the law won..." 😃

Saw a few guys with placards protesting at the 'unfairness' of it at London Bridge. Warmed my heart seeing everyone ignore them.

Fair play, I got my dates wrong. What I was hamfistedly trying to capture was elegantly done by Ah-so.

No. When the Icelandic banks went under the government tried that then realised the London riots would be a tea party compared to the rage it would unleash. Metro bank might be smaller in terms of deposits, but the precedent otherwise is too dangerous.

It's a standoff between disinterested sellers, who think any house is immediately worth more then 25% against stretched buyers who either are restricted by MMR or are clever enough to wait it out. An empty house will rot, leading to more work. I've seen 2 houses where even the EA wont publish internal pictures and is asking for 'proceedable cash buyers'. There is appetite for a punitive council tax charge as empty houses puts more pressure on social housing. The days of Mad Gainz are over. The adjustment to the new reality (either stable prices or a drop) will take many by surprise

What is middle class? The ability to grow beyond your background? The ability to create some capital to apply beyond your own needs? The ability to show how to get up the ladder and give back to those still climbing? That needs a meritocratic education system, especially in further and higher education. It needs a financial system geared to protecting and explaining risk. It needs a culture where we see renting as an option, not an income stream. All of that is being attacked. No culture survives without a middle class. In 2007 I didn't want HPC at the cost of a financial crash. Now i want it all to burn. If it gets to beans and bullets, I know I'll be gone, but I'm gonna take a few ****s with me.

You've mixed up the idea of inheritance tax with the 'good' use of tax money. I said nothing about that so don't bring it into the topic. If money moves in a transaction it is taxed, so should an inheritance. Where it goes, whether HTB, Foreign Aid, NHS, is not the topic here.

You are right. A progressive society then overlays the need to have National services (Defense, Education etc) and funds it with an agreed tax levy - not pure capitalism but progressive capitalism. (Don't get the words Progressive or Liberal to be soy eating bleeding heart, I'm talking about the original meaning) You answer your own question. Someone has amassed a decent wedge - that is theirs. They pass it on to someone by no other transaction than they popped out of their loins - that was never earned by them so it is taxed. Big business is an easy stick to beat - but they generate value. It's when they try and play the people off each other and use offshore holdings then they should be taxed and punished.

Ah the multi tax argument. By that same argument wages shouldn't be taxed because companies paid tax on earnings. Earnings shouldn't be taxed because customers paid PAYE. Tax is paid per role and transaction. Did you receive money then pay tax - nice and simple. Abolishing offshore trusts removes complexit Money spent is naturally taxed as transactions occur. So the argument stands. Strange how private schools don't pay tax as they are 'charities'

In a true capitalist system. You earn the reward of your work, be it directly or through investing. There is nothing capitalist about receiving money because you were squeezed out of the lucky uterus. You might as well say you should keep all your mad gainz from HPI because you were in the right place to by a house when they were reasonably priced. Tax the recipient, enable tax free charitable giving, abolish offshore trusts.

Bit easy mate

Internet trolls😁

So you don't expect a state pension after paying a lifetime of NI? Great, just hand your refund back to the DWP. Whilst you're there, don't bother working and expecting to get on in life. Don't bother trying to give back to communities and help out the young. Stay bitter in your own little bubble. I help those who want to help up The social contract isn't crap made to be 'entitled' to benefits. Its the thread that binds the young who learn, with the working who earn, to the elderly that have so much to share.

Natural result of breaking the social contract. Why bother upholding your end of the deal (to work hard, contribute in) when the reward (a f**cking roof over your head, not a maserati!) is taken away from you. Financialisation and the global elites that support it need to be hung out to dry.

BBC link https://www.bbc.co.uk/news/business-47387630