A property wealth tax is the only fair way to pay for the Covid-19 crisis

[Unmoderated]

https://www.cityam.com/a-property-wealth-tax-is-the-only-fair-way-to-pay-for-the-covid-19-crisis/

"So how’s this for a proposal: we should scrap principal private residence relief which means people are not liable for capital gains tax if they are selling their home, and introduce a 10 per cent property capital gains tax on all homes. It would be payable when cash is available (unlike, for example, an annual mansion tax), at the time of sale or settling an estate following the death of the last living owner."

Edited August 14, 2020 by Unmoderated

[Simhadri]

Please tax UNEARNED gains in stock market first.

They should pay their fair share.

[zugzwang]

4 minutes ago, Simhadri said:

Please tax UNEARNED gains in stock market first.

They should pay their fair share.

Marxism! And furthermore... Communism!

[Simhadri]

4 minutes ago, zugzwang said:

Marxism! And furthermore... Communism!

More tax please from all possible ways to fund those who are jealous of those who plan and invest in housing

So that should include NEW taxes on stock market gains and pension too. Why not  Let's tax everything ?

[Unmoderated]

11 minutes ago, Simhadri said:

Please tax UNEARNED gains in stock market first.

They should pay their fair share.

You mean increase the tax they already pay? Let's not forget that shareholders own the company and have their profits taxed at corporation tax rates, they also pay Ers NI, have to top up employees pensions AND generally pay enormous sums to local authorities for business rates. Then there's the VAT.... second largest contribution to the HMRC after income tax. 

[zugzwang]

1 minute ago, Simhadri said:

More tax please from all possible ways to fund those who are jealous of those who plan and invest in housing

So that should include NEW taxes on stock market gains and pension too. Why not  Let's tax everything ?

And Land Value Tax would be more appropriate. A Tobin Tax on financial speculation would be very welcome too.

[Unmoderated]

2 minutes ago, Simhadri said:

More tax please from all possible ways to fund those who are jealous of those who plan and invest in housing

So that should include NEW taxes on stock market gains and pension too. Why not  Let's tax everything ?

I'm not sure the HMRC is particularly jealous of anyone?

'Invest' in housing, that's a good one. 

[Unmoderated]

Just now, zugzwang said:

And Land Value Tax would be more appropriate. A Tobin Tax on financial speculation would be very welcome too.

Yep, I'd happily apply a fairly large inheritance tax too. After all the people receiving it did nothing to earn it.

I'd quite happily take that over increases in income tax. 

[Chunketh]

21 minutes ago, Simhadri said:

More tax please from all possible ways to fund those who are jealous of those who plan and invest in housing

So that should include NEW taxes on stock market gains and pension too. Why not  Let's tax everything ?

Pensions are already taxed

Stock market gains are already taxed

[Chunketh]

54 minutes ago, Unmoderated said:

https://www.cityam.com/a-property-wealth-tax-is-the-only-fair-way-to-pay-for-the-covid-19-crisis/

"So how’s this for a proposal: we should scrap principal private residence relief which means people are not liable for capital gains tax if they are selling their home, and introduce a 10 per cent property capital gains tax on all homes. It would be payable when cash is available (unlike, for example, an annual mansion tax), at the time of sale or settling an estate following the death of the last living owner."

Sounds like a good idea

[Chunketh]

38 minutes ago, Simhadri said:

Please tax UNEARNED gains in stock market first.

They should pay their fair share.

Well if you make a profit, you are liable for capital gains tax on the profit, if you get a dividend you are liable for tax on that at your normal rate of income tax.

Now yes, there are two vehicles for avoiding some of these taxes. An ISA and a pension. 

The pension pays tax as it pays out, so that is already covered. Although I suspect you want to tax it on the way in, on the way out and while its in there.

Do you think the ISA allowance is too high, or should it simply not exist?

[Simhadri]

29 minutes ago, Unmoderated said:

Yep, I'd happily apply a fairly large inheritance tax too. After all the people receiving it did nothing to earn it.

Yeah lets apply that on stock market gains wrapped in ltd company shares too ?

[msi]

Squeal Little BTL piggies....  Rishi is sharpening his axe for you

[Simhadri]

Just now, msi said:

Squeal Little BTL piggies....  Rishi is sharpening his axe for you

Yeah hearing lot of jealous squeals from those who want 2007 prices in 2020 ???

[Switch625]

Decrying the impoverishment of a generation of younger people in this country by a select group that have manipulated a basic human need to further their own ends isn't jealousy.

Laughing at those that have been unfairly disadvantaged by the unscrupulous actions of others is however fustian and conceited.

[AAA]

The capital gain tax on primary residence should have been introduced long time ago.

However why they are proposing tax at just 10% if capital gain tax on other assets is 28%? Primary residency should be taxed at the same rate as any other asset.

Plus, we need to review concil tax and remove any caps applicable to it as it benefits only riches at the moment.

[nome]

A furlough tax code makes sense to me, even if it only goes a small way to repaying the cost at least it will be a constant reminder for all the piss takers who have spent the last 4 months sat in their Argos inflatable hot tubs watching netflix and boredom shopping on Amazon.

[Trump Invective]

40 minutes ago, Switch625 said:

Decrying the impoverishment of a generation of younger people in this country by a select group that have manipulated a basic human need to further their own ends isn't jealousy.

Laughing at those that have been unfairly disadvantaged by the unscrupulous actions of others is however fustian and conceited.

Yeah I love the jealousy argument. I don't think most people on here would rather be Fergus. Or a bankster. I think being rich at the expense of others is what they would least like to be. All most people ask for is fairness. Speaking for most others, of course. 

 

I've seen rich people and they have terrible style. There's a reason bootcut jeans still appear in shops

Edited August 14, 2020 by Trump Invective

[AAA]

 

15 minutes ago, nome said:

A furlough tax code makes sense to me, even if it only goes a small way to repaying the cost at least it will be a constant reminder for all the piss takers who have spent the last 4 months sat in their Argos inflatable hot tubs watching netflix and boredom shopping on Amazon.

All this furlough nonsense was done mainly to prevent house prices from falling. So taxing capital gain on houses would be a fair way to repay furlough costs.

[Switch625]

18 minutes ago, Trump Invective said:

Yeah I love the jealousy argument.

It's a remarkably childish argument, always reminds me of badly behaved kids in a playground .... tragic.

[NoHPCinTheUK]

If they need to raise money quickly and without giving too much headaches to HMRC, I think they will look at VAT and Income tax. People on PAYE are going to be squeezed to the last drop. Trust me. 
 

Anyone here happy to get a 20% pay cut to get HPC? 

[NoHPCinTheUK]

20 minutes ago, AAA said:

 

All this furlough nonsense was done mainly to prevent house prices from falling. So taxing capital gain on houses would be a fair way to repay furlough costs.

These people need to keep themselves in power, that’s their first concern. Are they going to piss the largest share of their voters off?

[longgone]

7 minutes ago, NoHPCinTheUK said:

These people need to keep themselves in power, that’s their first concern. Are they going to piss the largest share of their voters off?

I keep hearing this krap who else are the plebs  going to vote for ??? It's the same evil bitch in fancy dress.

Next time your voting card turns up, save it for scrapping Up dog chit.

[AAA]

14 minutes ago, NoHPCinTheUK said:

These people need to keep themselves in power, that’s their first concern. Are they going to piss the largest share of their voters off?

They probably wouldn't because they are millionaires and billionaires with lots of wealth in a housing market. Their relatives and mates will be unhappy too if they are required to pay tax on their wealth. It is a corrupt system existing for the benefit of riches.

[Chunketh]

3 hours ago, Simhadri said:

Yeah hearing lot of jealous squeals from those who want 2007 prices in 2020 ???

I am hearing a lot of squeals from you about pensions. Seems that you want everyone but you to pay tax.

As one has already stated, the axe is being sharpened, and yeah I expect it to hit pensions, but I also expect it to hit the people farmers a lot harder. About ****ing time too.