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homedaq

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About homedaq

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    http://www.progcon.org
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    Suffolk, UK
  1. If you haven't see the video already, I'd appreciate as many views as possible. I'm trying to get the views on this video higher than those for the official tory one, as perhaps then the press just might write about and bring up the real cause of debt. http://www.youtube.com/watch?v=doZVx9zy110
  2. If you want the well-researched full story on the disproportinately high number of Old Etonians in Cameron's inner circle then check out this article in the Times http://www.timesonline.co.uk/article/0,,20...94030_1,00.html
  3. You're not wrong however, just because something is unpopular within some sections of the population does not mean it should not be addressed if the consequences of ignoring are much worse. It's about time people started saying what they know needs to be done and seek to win people around to their view, rather than just floating on the wind of popular opinion. All I'm trying to achieve with this video is to highlight that credit card debt is a tiny fraction of total debt and it is in large part caused by high house prices, high taxes, and other charges.
  4. http://www.youtube.com/watch?v=doZVx9zy110 I just wanted to point out that Cameron is completely ignoring runaway house prices, the real cause of debt.
  5. These type of competitions are perfectly legal. The element of skill may be extremely low but it is still enough for people to get it wrong so it legal. Contrast that with the Live8 which as far as I am aware, was illegal as it had no question at all as was for all intents and purposes, a lottery. However, with all that said, as discussed before here, house price competitions are a very good signal of a housing market completely up sh1t creek, just as it was in the 90's. Being the intellectual that I am, I also spotted another house competition in my favourite trade journal Nuts, this week. The prize was a 315k house but I was hoping for Katie Downes.
  6. There was a rumour that Blair would propose it as his parting shot to both out-manoeuvre the Tories and leave Brown defending a good idea that he has no interest in implementing. Now that would cause a few ripples.
  7. The Flat Tax has worked well in Hong Kong for over 50 years. The tax returns there are a simple one page 10-15 line affair. It saves billions in admin and accounting costs. With the flat tax there is no longer any 'tax favours' for party donors, no tax avoidance through dividends (corporation and personal tax set at same rate), no non-domiciled resident super-rich loophole, that Labour has kept open for their friends (think a certain steel billionaire etc). Flat Tax should be loaded in the tax free amount to instantly benefit the poor and low earners. The middle to high earners actually should pay more at first to cover any drop in income, but they claw it back with the drop of all the other taxes like on savings, inheritance etc. That means no more stamp duty as well. So, when implemented properly it is the poor not the rich who benefit first, then after time, every one should gain with clawing back from the removal of stealth taxes, and admin savings, and even productivity gains. Also, although perhaps not intuitive, it is still progressive, ie those who earn more don't just pay more in £ terms but also in % take terms. This is thanks to the initial tax free amount which means that everyone pay less than the tax rate as a % of their overall salary, but this amount increases towards the tax rate the more you earn. I have some example in my flat tax flat tax blog on the progcon.org site That said, the Tories are not actually proposing introducing the flat tax, but using it to spark debate on the benefit of flatter, simpler taxes, which imho, is a shame. With a flat tax rate, we would be able to know exactly how much tax the government takes from us overall which is almost impossible at the moment. This clearly works in the favour of the Government. Flat Tax completely removes a government's ability to meddle and really shows up how much tax we are saving or spending. It is not a system for reducing tax, it is a system of clarity to simplify the tax collection process, make avoidance more difficult and empower us to compare different government's tax demands on us properly. There is just the tax-free amount and the tax rate. Each party's plans would be simple to cost and compare.
  8. Forget house prices, it is that time of year to get the oil tank filled up for winter. Brings tears to a glass eye.
  9. With ultimate respect to Southend as someone who grew up there, all these new dacha owners should be warned that thay are not jellyfish being washed up on the stoney beaches but used condoms. Perhaps the journalist has a beach hut to sell on Thorpe Bay beach just along the way.
  10. http://www.contractormoney.com/mortgagecalculator.html I used this calculator which gave a monthly payment of 982.20, making the total repayable £ 176,796 (982.20 *180 months) A slight tangent, but I am too much of a pedant to let it go! ;-) I guess I am being very naive here, but obviously the higher rate is to compensate for increased risk, but the increased payments themselves increase the chance of default. Why not offer the same rate, but require borrowers to take out an insurance premium with decreasing premiums, loaded up front and reducing as risk and outstanding reduces?
  11. Google has an "ethical" policy that prohibits gambling advertising for example. Surely this kind of ad is far from ethical? I know some will say that if someone is desperate enough, but surely IVA is the way forward for those in that situation? (no connection with an IVA company etc)
  12. Welcome Finance This is a top of the page Google advertiser. It is interesting to see the sharks circling the Brits that are up to their eyes in debt. I think this is a good, if indirect measure of the state of the financial health of the country but should such usury* be illegal? I guess they must just throw money at people, but surely an IVA is better than borrowing at these rates? [Edit: *Imho of course, any trawling legal eagles.]
  13. Yes, we bought in 1991 which was being talked up as the bottom of the crash at the time but watched our flat lose 25%of its value over the next 3 years. By 1995, the sentiment was so negative that we thought we would never see our purchase price again, so switched from endowment to repayment to get the loan size down to enable us to sell. Every single uptick will be seized by the press as a sign of the recovery. It would be naive to expect anything else.
  14. So more like circumlocution, circumlocution, circumlocution
  15. stamp duty was suspended for a while I recall - maybe in 91-92?
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