14stFlyer
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Posts posted by 14stFlyer
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11 hours ago, winkie said:
Someone must be supporting them, it is not always the state......millions more young 18 to 24 year olds still live at home in their parents up to million pound or more London houses and elsewhere....many over 24 are still at home also......when homes have been making more money than work does can you blame them?
Absolutely right Winkie. It is not necessarily just the individuals making the unearned income that are less productive. It is their children too…
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15 hours ago, onlooker said:
would high taxation of “unearned” income lead to more or less investment?
I believe it would lead to better investment decisions and less misallocation of wealth. It would limit people living off rent and interest and encourage them to be more productive with both their time and their money.
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15 hours ago, onlooker said:
Investment involves risk. If it is taxed heavily there will be less. If it is taxed less, there will be more investment. The UK currently needs much more investment.
I agree. Any method we can employ to stop people “investing” in property or in money-making-money, and instead investing in businesses, infrastructure and skills should be encouraged.
I have no idea if Labour will be better at doing this than other options (I personally will not be voting for them). However, I do think they are likely to provide fewer perverse incentives than we have seen from the last 14 years.
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1 minute ago, onlooker said:2 hours ago, 14stFlyer said:
Any income not directly associated with work. This would include rent, share dividends, interest, capital gains, inheritance etc.
would high taxation of “unearned” income lead to more or less investment?
I believe taxing income less, and taxing rent, crypto, share dividends, interest, inheritance and every other form of income at an equal level with it will both make our economy more productive and boost investment.
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16 hours ago, nome said:
A life on benefits, particularly for those who choose to be on benefits and know how to fully exploit the system, is far from a subsistence level of existence.
And I am afraid it needs to be at a subsistence level if we are to provide the needed incentives to work. However, just as significant for our economy are the needed skilled workers who are currently living off unearned income rather than doing a day’s work. We need to encourage these people back in to the workforce with carrot and stick too.
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17 hours ago, cdd said:
Why should a poor person pay a 50% tax rate on savings?
They won’t. A high tax rate on savings (or indeed any source of income) will only occur for those earning in the highest tax bracket.
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17 hours ago, Lagarde's Drift said:
Tax everyone who has more than me. Don't tax me.
I would certainly be affected by a blanket tax on unearned income.
17 hours ago, Lagarde's Drift said:It would be easy to apply 50% or 100% tax to lots of things. That doesn't mean anyone will sell up and doesn't mean a higher tax income for the govt. We could try taxing windows, there are plenty of those. Or we could try taxing individual people just for breathing in this country. Novel ideas.
The suggestion is that ALL income is taxed at the same rate, regardless of source. There is no suggestion of taxing anything at 100%. There is no suggestion of taxing windows. There is no suggestion of taxing breathing.
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19 hours ago, Lagarde's Drift said:
what do you define as unearned income?
Any income not directly associated with work. This would include rent, share dividends, interest, capital gains, inheritance etc.
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13 minutes ago, Orb said:43 minutes ago, hughjass said:
This is only the start. The floodgates will soon be open.
The shit has been flowing into our rivers and canals for years so it’s about time it finally hit the fan.
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4 minutes ago, clarkey said:
People are living longer and the boomer cohort is a big group. I think the Tories desire to scrap NI is more about trying to share the tax burden around to people “not working” ie this lot
Next stage will be taxing unearned income at the same rate as earned income. Finally, add a wealth tax and we may get that illusive fairer society.
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1 hour ago, Stewy said:
The so-called fundamentals won't last forever and when unleashed we will see another wave of buoyancy with prices up another £50k-£100k overnight.
When what is unleashed?
The whole idea of something “fundamental” is that it would be a basic and essential part of whatever is being discussed. Therefore long lasting.
For me, my generation has found it harder to finance a house than previous generations, and generations younger than me are finding it even harder. That is a fundamental control on house prices.
Also, the rapid increase in population that the U.K. has seen in the last few decades has been driven by a combination of both natural growth (more births than deaths) and large scale net inward migration. We know the natural growth has already stopped (and data from round the world suggests it is difficult to restart it, even with government incentives to have children). And the public anger about large scale net inward migration is growing, not receding.These are the fundamentals I see Stewy. And they point me in the direction of house price decline relative to earning gs over generations to come.
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10 hours ago, Social Justice League said:
EV's are for women and simps.
Yep. And we are loving them!
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1 hour ago, Stewy said:
But not for several months, which could stoke a mini-boom while people rush to complete.
And by then...interest rates will be being savaged 🤔
Or the election will be taking place…
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27 minutes ago, pig said:
What a peculiar period
Dangerous rather than peculiar I think. Both Russia and EU getting more “brazen” about their objectives and next moves and not seeking to care if the other side knows.
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11 minutes ago, hotblack42 said:
Is that the case if you have to rely on public charging?
You are completely correct in my view Mr Hotblack. The vast difference between expensive public charging (especially on motorways) and cheap home overnight charging, or free leccy from solar panels, is problematic and unfair. I expect the issue to be less divisive in the future as our grid normalises away from Russian, American and Middle Eastern gas supplies, but for now it is a huge problem.
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1 hour ago, Goat said:
If you're interested, it's because they have vast amounts of stored hydroelectric, which makes it virtually free to generate, sadly we can't copy that due to geography.
Not true. There are parts of Scotland, England and Wales ideal for hydro. However, they are also our most beautiful countryside and we are, at least at present, not prepared to sacrifice most of them.
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On 2/29/2024 at 8:21 AM, MonsieurCopperCrutch said:
The clown car pushback continues at pace. Soon only the clowns will be left being seen in their clown cars as the gullible fools slowly wake up to the con.
Well, if I am going to “wake up” to being gullible for my model 3 then I am going to have to do so pretty quickly. Three years in and it is still, for me, the best, fastest, smoothest, lowest maintenance car I have ever had.
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14 hours ago, Trampa501 said:
1. Where is the money going to come from to pay big increases to nhs staff?
Pay less useful members of society less perhaps?
By less useful members of society, I mean (for example) Estate agents, BTL Landlords, recruitment consultants, influencers, professional golfers, stockbrokers, and many, many more people that do not actually contribute to our society in a meaningful way.
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14 hours ago, Trampa501 said:
1) The jobs that no one here really wants to do eg care work, or seasonal crop-picking. Not only will the anti-migrant voices here never do that work, it's also the case none of you want that type of work to be your kids' future
Pay people more and British people will do these jobs.
14 hours ago, Trampa501 said:2) More skilled desirable jobs such as doctor/nurse/dentist. We already train up "our own" (I have relatives myself in the nhs), but unfortunately people leave - either to work private, or to go to better paid countries eg the US, Oz, the Gulf
Pay people more/improve their working conditions and British people will stay in the U.K. for these jobs.
The large-scale net immigration solution is not the only one to these problems. And in my view it is not the best one.
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5 minutes ago, onlooker said:
But their cost to the NHS skyrockets. I should know, I am one of them.
So inflation in drug prices, nurses pay, care costs and nappies then. But legoland will get a bit cheaper…
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1 hour ago, fellow said:
Unless I'm missing something?
Do old people really consume that much? For the last 20 years of my grandparents’ lives they essentially did not buy anything new. They did less, ate less, and bought less.
So, in my simplistic mind, an aging population with an increased number of low consuming pensioners will lead to demand destruction. There will be diminished demand for food, energy, entertainment services and manufactured products. This should limit any inflationary pressures.
Unless I’m missing something?
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On 2/24/2024 at 6:05 AM, Field of Nightmares said:
Anyone who is remotely interested in the environment would see population reduction as a must-have.
Already baked in globally (the mothers of 25 years time have simply not been born). However, if you believe the ONS the population of U.K. will keep increasing due to high levels of net inward migration. Personally I do not believe this will happen and our population will be shown to be falling by the 2031.
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1 hour ago, Stewy said:
Yes, it's just a post-Covid post-energy-spike blip. Well be returning to normal very soon.
Could be. But only if we make friends with Russia again, and convince Israelis and Palestinians to get along.
Simples.
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On 2/24/2024 at 10:46 AM, zugzwang said:
A few angstrom units across? You have better eyesight than I do Zugz!
5th of UK adults not looking for work
in House prices and the economy
Posted · Edited by 14stFlyer
Not sure why you are responding to my post with this cdd. I want to tax all income at the same rate regardless of source. I want this to be at worst the same, and preferably lower than the current rales of income tax. Not at a level that would discourage investment such as 50%