How to fix the economy

[phantominvestor]

Hello all, I am back

Thought I'd start off by posting my thoughts on fixing the economy.

How to fix the economy

1. Tax unearned property income as income at 40%
2. Abolish all benefits
3. Pay everyone £10,000 a year = ~£600,000,000,000
4. Tax at 50%
5. Government funded business incubator umbrella companies so companies can startup and have payroll, accounting, contracts handled on their behalf.

[Locke]

Cut taxes

Cut regulations

Cut benefits

Done.

[Andy T]

Fix it with respect to what?

Fix the issues pre-coronavirus?

Fix post coronavirus? -  we don't yet know how broken it's going to be.

[jonb2]

1 minute ago, Locke said:

Cut taxes

Cut regulations

Cut benefits

Done.

Paving the way to your commie nightmare.

Permanent social unrest.

Billionaires and their families hung from lampposts and bled slowly with crowing crowds.

Full revolution with 'men of the people' in charge.

Done.

[Big Orange]

2 minutes ago, jonb2 said:

Paving the way to your commie nightmare.

Permanent social unrest.

Billionaires and their families hung from lampposts and bled slowly with crowing crowds.

Full revolution with 'men of the people' in charge.

Done.

^What he says.

[regprentice]

21 minutes ago, jonb2 said:

Full revolution with 'men of the people' in charge.

Politicians serve no purpose. 

What's the point of  putting men of the people in charge, why not simply put the people themselves in charge via an app or terminal that would allow people to sit down for an hour once a week and vote themselves on that weeks parliamentary business.

1-2-1 representation, one vote per person, no more voting in Eton schoolboys who vote for the party whip instead of the local electorate 

Edited April 2, 2020 by regprentice

[jonb2]

1 minute ago, regprentice said:

Politicians serve no purpose. 

What's the point of  putting men of the people in charge, why not simply put the people themselves in charge via an app or terminal that would allow people to sit down for an hour once a week and vote themselves on that weeks parliamentary business. 

I agree with you. But I fear we are a small voice against the tumult of monied control systems. Self-interest powers IOW.

The majority always want leaders. A totem to believe in. History is proof that they rarely get what they need though.

[winkie]

30 minutes ago, jonb2 said:

Paving the way to your commie nightmare.

Permanent social unrest.

Billionaires and their families hung from lampposts and bled slowly with crowing crowds.

Full revolution with 'men of the people' in charge.

Done.

Nobody would want that.....perhaps only one or two.

[Gigantic Purple Slug]

Bail out/inflate away the debt of those living hand to mouth.

Take the money from those with savings (because by definition saving is a want and not a need) and give it to those that don't have it.

Retrospectively tax pension funds (because those taxes can't be avoided).

 

[jonb2]

2 minutes ago, winkie said:

Nobody would want that.....perhaps only one or two.

One in ten I reckon Winkie ?

[regprentice]

1 hour ago, phantominvestor said:

How to fix the economy

... Abolish all benefits.

 

40 minutes ago, Locke said:

Cut benefits

I can't see a scenario where the current government's allow benefits to be cut.... In Scotland where I am social security (benefits) is now recognised as a human right and I don't think a UBI would meet the requirements of that. 

https://www.theguardian.com/uk-news/2018/apr/25/scotland-recognises-social-security-as-a-human-right

[Gigantic Purple Slug]

Ah I see step 1 already starts :

https://www.bbc.co.uk/news/business-52132329

This will be paid for by reducing the return on savings. Or maybe even negative interest rates.

[GregBowman]

14 minutes ago, Gigantic Purple Slug said:

Bail out/inflate away the debt of those living hand to mouth.

Take the money from those with savings (because by definition saving is a want and not a need) and give it to those that don't have it.

Retrospectively tax pension funds (because those taxes can't be avoided).

 

They are taxed anyway as they come out - a lot of people will not start up again and start using these funds.

I can see a savings draw tax which would have the same effect as the tax you pay on your pension when you draw it

Tend to agree with Reg - benefits won't be cut to avoid the hanging people from a lampost scenario (in essence that is what they are for anyway once past pure need)

 

Edited April 2, 2020 by GregBowman

[winkie]

2 minutes ago, jonb2 said:

One in ten I reckon Winkie ?

Only hope you are wrong.....they will/are trying to put measures into practice to feed and give hope to the worried and anxious who might believe the future is unknown.....where one persons work and the effort put into society is as valued as much as the next, where a sense of fairness prevails ........where technology has opened up a closed world to many. 

[Gigantic Purple Slug]

1 minute ago, GregBowman said:

They are taxed anyway as they come out - a lot of people will not start up again and start using these funds.

I can see a savings draw tax which would have the same effect as the tax you pay on your pension when you draw it

Tend to agree with Reg - benefits won't be cut to avoid the hanging people from a lampost scenario (in essence thatis  what they are for anyway once past pure need)

 

Yes but they were given generous tax relief on the way in.

This will be paid for via middle class savings one way or another. They are the only people with money. So the government will transfer that money from them to the destitute.

On the bright side, in doing that it might stop the destitute smashing down the doors of the middle class and nicking all their stuff.

So the middle class are going to pay for it one way or another. It's just a matter of how.

[Social Justice League]

Cut all non jobs and zombie companies.

Cut all state benefits and pensions

Give everyone a citizens income

[Gigantic Purple Slug]

Just now, Ghostly said:

Is that you UK government?

That is what will happen. It has to happen, because it is the only thing that can happen.

The poor/leveraged have nothing to give or lose.

Savings by definition are not necessary to survive. Therefore they will be swiped and given to people so that they can survive.

This isn't rocket science, its totally obvious.

 

[msi]

Schoolboy dreams aside, fix house prices and a lot will follow naturally:

 

1. Make having empty 2nd home socially unacceptable.  Double council tax surcharge after 6 months, then increase every 12months.

2. Create a Land Value Tax - add it to council tax so local authorities are now incentivised to accurately value land and its usage.  Add zero relief for public usage - avoids land barons with massive private estates.

3. Remove all tax reliefs for BTL.  Encourage Build to Let, but as a commercial interest with commercial rates.

4. Streamline House buying. Sellers to provide valuation packs, acceptable to all mortgage providers (not the crappy homebuyers pack) and pay upfront for it (to prevent kite flying). Buyers to have evidence of proceedability (to avoid phantom offers).  Offers made are contractually binding with standard get out clauses to prevent Gazumping and Gazundering.

5. Evictions only in cases of non payment of rent, criminal activity, or property damage.  Landlords to offer payments to tenants if they need them to leave early. 

6. Banks to publish open figures on their mortgage book showing levels of distress and writedowns. 

7. Estate agents to be legally required to act as independent brokers to bring sellers and buyers together.  Fees to be charged to sell a house or to register as a buyer upfront (see point 4).  Selling of houses by other means (raffles etc) become illegal.

8.Land Registry figures to become open data and allow public analysis. Figures to include how much is mortgage and the name of the mortgage provider

9. Property left more than 5 years unoccupied deemed 'released' to the state

10. AirBnb / sub letting etc income to be taxed. Sub letters to have right to obtain contract direct with landlords after a fixed period unless it can be proven that a short term let is present.

 

[longgone]

1 hour ago, Gigantic Purple Slug said:

That is what will happen. It has to happen, because it is the only thing that can happen.

The poor/leveraged have nothing to give or lose.

Savings by definition are not necessary to survive. Therefore they will be swiped and given to people so that they can survive.

This isn't rocket science, its totally obvious.

 

i have weapons in the garage to stop this or revenge this at the very least. 

[byron78]

2 hours ago, Locke said:

Cut taxes

Cut regulations

Cut benefits

Done.

This is precisely why we're in this mess.

40 years of that.

 

[LetsBuild]

8 minutes ago, longgone said:

i have weapons in the garage to stop this or revenge this at the very least. 

I was thinking this myself, would take a very brave self sacrificing politician to do this - and they don’t exist.

[Locke]

12 minutes ago, byron78 said:

This is precisely why we're in this mess.

40 years of that.

 

Lol, wrong.

1 hour ago, Ghostly said:

Place significant curbs on the amount of credit available for borrowing against housing.

Yes, it is called a free market, where banks don't get bailed out by people robbed at gunpoint and so have an incentive not to lend out at 7 x your wage.

1 hour ago, regprentice said:

 

I can't see a scenario where the current government's allow benefits to be cut

I agree, but the question was how to fix the economy, which is by massive reduction in violence aka cutting back the size and power of the State.

What will actually happen is that control freaks like jonb2 will get their commie paradise.

2 hours ago, regprentice said:

Politicians serve no purpose. 

They are the figurehead which helps maintain the illusion that the government actually exists.

The sole purpose of the government is to extract on behalf of the politically well-connected the maximum amount of resources from the populace, while minimising the chance that they will successfully rebel.

[longgone]

1 hour ago, Locke said:

 

The sole purpose of the government is to extract on behalf of the politically well-connected the maximum amount of resources from the populace, while minimising the chance that they will successfully rebel.

Mother nature will do it for us 

Covid19 

[longgone]

1 hour ago, LetsBuild said:

I was thinking this myself, would take a very brave self sacrificing politician to do this - and they don’t exist.

well if you take everything from someone there is nothing left to lose may as well revenge it for peace of mind.  

[jonb2]

1 hour ago, Locke said:

Lol, wrong.

Yes, it is called a free market, where banks don't get bailed out by people robbed at gunpoint and so have an incentive not to lend out at 7 x your wage.

I agree, but the question was how to fix the economy, which is by massive reduction in violence aka cutting back the size and power of the State.

What will actually happen is that control freaks like jonb2 will get their commie paradise.

They are the figurehead which helps maintain the illusion that the government actually exists.

The sole purpose of the government is to extract on behalf of the politically well-connected the maximum amount of resources from the populace, while minimising the chance that they will successfully rebel.

Fascism and communism are two sides of the same coin. Both of them suffer huge corruption when in control. People that love money will do anything for it. Always will. The more money they have, the more corrupt they become.

It's the reason why your Ayn Rand wet dream cannot ever work. It doesn't take into account greed. It ignores the behaviour of mammon love.