Wednesday, Jun 05, 2013

Why on earth do we spend £144bn on pensions and at least half the NHS budget on these spongers?

Torygraph: Pensioners' property 'worth almost £770bn'

Pensioners own property worth almost £770bn, with 4.7 million retired householders owning their homes outright, research has shown.

Posted by mombers @ 01:43 PM (1980 views)
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6 Comments

1. mark wadsworth said...

Mombers, I'll tell you why, it's because they bother to go out and vote and they have simple, focussed and selfish demands (all dressed up in a nice self-righteous sheen of "we have worked hard and saved hard and are blessed and noble therefore we should be given even more money") which the politicians can easily understand and satisfy (by helping themselves to the contents of the youngest generation's wallets) without the vested interests losing any of their wealth and power (control over land and banking).

Wednesday, June 5, 2013 02:35PM Report Comment
 

2. Wobbilycol said...

There is no party worth voting for for young people, and I don't even consider myself in young any more.

Wednesday, June 5, 2013 03:08PM Report Comment
 

3. alan said...

@ Mombers,
It's because when the pensioners were younger, they worked for it or were left it in an estate where their parents had worked for it and paid tax on it.

Over the years, houses were exploited by various governments in "boom and bust" cycles. The same politicians pushed ahead with inflation in the UK, so the prices of their houses rose. More cynical tricks allowed borrowing on property to reach crazy levels and when the crash happened it was decided to underpin banks by keeping Interest Rates low. A by product was to avoid the housing crash that the USA and Spain suffered in 2008-11.

If someone comes up with a better way of taxation, I'll vote for it (it isn't hard). In the meantime we will continue to live beyond our means till bond rates fry, houses prices crash, inflation rips and we take a recessionary plunge.

I may have missed a few steps......

I disagree with MW over part of his analysis of property owners' voting intentions. I, for one was voting for a society where greater honesty prevailed, we balanced our books and family values were encouraged (that includes young people). I was tricked! Cameron is a cynical politician.

Wednesday, June 5, 2013 03:55PM Report Comment
 

4. dill said...

"Pensioners own property worth almost £770bn"

My other half receives a magazine on subs. This month there was a free gift with it. Normal cover price for the mag is £4 (On subs it's £2).

On the packaging (of the free gift) it stated 'Worth £7.99'

Did make me chortle that.

Wednesday, June 5, 2013 04:31PM Report Comment
 

5. stillthinking said...

The pensioners have so many assets, when they inevitably slip off this mortal coil, the generation following will never have to work again!

Thursday, June 6, 2013 04:44AM Report Comment
 

6. stillthinking said...

The pensioners have so many assets, when they inevitably slip off this mortal coil, the generation following will never have to work again!

Thursday, June 6, 2013 04:45AM Report Comment
 

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