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leicestersq

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Everything posted by leicestersq

  1. I have always believed that it was because proper IHT didnt last long enough. It needs to be in place for a whole generation before it bites properly. You dont hear many cases of the landed gentry being wiped out by it anymore, just upper middle class squealing in the Daily Mail. Perhaps they worked out how to get around it after the initial shock of it. I still like to believe IHT can be implemented properly.
  2. Foreigners are likely to be the ones squeezed for taxes in Greece when they are forced to balance their budget. The price might be cheap, but the cost wont be.
  3. What happens to the people that have deposits in the banks left holding the devalued debts of the various PIIGS? And what about those pension schemes? Show us that mushroom cloud again please Ruffles.
  4. Annuties have been bad value because the insurance knows that some people had to buy them, (is this still true?), nothing like a forced buyer to force up prices. Lots of pretty good value shares around now though. Tesco yielding 4.5% plus I think, or maybe Aviva yielding over 7%. Other shares of similar values too, so you could have a portfolio you could put into a SIPP and it would provide a pretty good income. No guarantees of course, but life wouldnt be bad. I still think that as a principle, a tax at the point of death is a fair one. It forces each generation to build up their own wealth, whilst at the same time enabling them to do so as the burden of tax upon income would fall. I acknowledge that the practical implementation of this principle hasnt worked well in the case of the ultra rich.
  5. CC, I stand corrected as well, thanks for putting me right. Obliging people to spend benefits in certain areas is misguided in my view, but it appears others have a different view. Bring on the citizen's income, let people choose how to spend that benefit.
  6. Even that amount seems a mighty high threshold to me. That is a fearsome amount of money, you could probably live a decent quality of life without working with that sort of sum behind you. A tax on the poor it is not.
  7. Au Contraire. As soon as this guy gets in they will have no choice but austerity, the markets will see to that.
  8. I will let you break the news to the 1% of deserving cases that are going to be denied it then.
  9. The stats also failed to mention assets. I care not about the size of my debt, as long as my assets are double the size of my debts.
  10. Of course moral hazard for the Germans. They won't be repaid on billions. Why did you think otherwise?
  11. True, but if you are investing, where would you do so? The cheaper it is to get out when things go wrong, the more likely it will get the investment.
  12. It is more than possible the process has been corrupted in more than a few instances.
  13. I dont see how you can view it as such. The Greeks are finally going to get some moral hazard. Nothing wrong with making that happen, it was a shame it hasnt happened earlier. The threat of a refusal of the bond markets to finance your deficits hangs over all nations. It is a balance to the insane promises that politicians make so that we will vote for them. I just hope the people in the UK learn from Greece, and call for our political leaders to eliminate our deficit, or the same will happen here. It wont be pretty if it does happen, many many pension schemes in the UK could be wiped out as just one consequence of a bond crisis. To say nothing of what will happen to housing.
  14. I may be wrong on this, but I suspect that the elites drafted IHT laws so that the same elites could avoid paying it and perpetuate their wealth. There was a time though, when IHT really did hurt the elites, and stately homes were sold to pay death duties. I dont think that happens anymore, but I think it did for a while after the 2WW. Therefore I believe it can happen again, though electing a government to actually do this might be a little tricky.
  15. I thought that the cash had already flown. Isnt what is left there is money put in by the EU and the ECB and the IMF to prop the whole thing up? Those fools left holding the baby have no one left to give the baby to.
  16. Steed, for once some sort of agreement between us. Whilst I favour a citizens income over a universal credit, what it does give you is freedom of choice over how to spend the money. I dont know if the UC benefit is cutback if you save too much, a citizens income would remain whatever your level of savings. Then if you get this payment, and decide to live in a tent or rough, I dont see how anyone else can complain. Save now so you can consume more later is a decent enough strategy, and I dont see why our tax and benefits system should discourage it so much as it currently does. You cant beat choice.
  17. HUH? Proper IHT would take away the wealth of the landed gentry, reducing taxes on the working man. I want to see an end to intergenerational privilege. I think you want the same, so why the attack?
  18. Seems right to me. If the council has failed and promised what it cannot pay, something has to change. Don't we have similar rules if a council fails in the UK?
  19. I will vote UKIP, cos there policies are closest to mine. I don't think they will win anything though. Too many are scared to do the right thing. Not many women will vote for them either, and women decide the election.
  20. Ned, Agreed, it was bankers as well, and without whom this scam could not have come to pass. I think we only disagree on the extent of the responsibility. I find fault with those who took the benefits on offer without questioning the origin of the money and without demanding honesty from their government. You say the ordinary people are blameless in this affair.
  21. I take it your plan also includes tough regulation, particularly with respect to the marking of the value of mortgages on the balance sheet where there is little equity? In other words, regulators will search hard for balance sheet frand, and prosecute the perpetrators should it occur?
  22. http://www.bbc.co.uk/news/world-europe-17040616 Greek finance minister saying that there are many now who want Greece out of the Eurozone. I dont think anyone other can Greece can stop Greece using the Euro as its prime currency, but there must be certain Eurozone agreements between the central banks that would presumably no longer apply. Looks like their is now an acceptance of the fact that everyone is in a hole, and it is time to stop digging. If that is the case it wont make a fig of difference what the Greeks promise, as they will just be ignored. My advice to the Greek finance minister, is prepare to balance your budget.
  23. Then do you consider, borrowing 200 billion euros plus, without any plan in place to start collecting taxes properly, an honest act?
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