Yeah, I'm really looking forward to AI and machines taking all our jobs and peoples shocked pikachu faces when all that does is funnel absolutely obscene amounts of money to the companies that can sack their humans. Its OK though because pension funds. Amirite?
Mortgage Rate Rises
- Thread starter glenimp617
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Yeah, I'm really looking forward to AI and machines taking all our jobs and peoples shocked pikachu faces when all that does is funnel absolutely obscene amounts of money to the companies that can sack their humans. Its OK though because pension funds. Amirite?
Thats if you are wealthy, and depends what you call wealthy, plus the wealthy don't really pay IHT, only the working and lower middle class pay IHT.
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Very much. I also think it’s good in terms of levelling the playing field in terms of own performance.
Your parents / grand parents may have built a successful business and been rewarded for it, doesn’t mean that 5 generations later are still going to be contributing the same.
bad? so is pushing economy into recession.
Even by the current monetary policy it is not the base interest rate that is fixing inflation, its the inevitable rise in unemployment that follows
Politicians are making some people unemployed and lower pay for rest to pay for their stupid decisions. For many that is a death sentense. THAT is bad.
Why don't we take money from corporations for a change? They are more than happy to raise prices "in these volatile times". Wasn't there a need to "cool down economy"? Aren't there record profits across the board for companies?
Lets start there and see what happens.
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That's a separate issue. The loop holes need closing. But tories for sure wouldn't want to do that. Probably same for a lot of labour too.
If you're getting hit hard by IHT you're certainly wealthy!
Its brutal. It's same argument people have against immigration. It's just luck you were born here vs some war torn country. Or some wealthy person vs someone poor.
Even seeing people get inheritance early. It's life changing. All Of a sudden you have no financial worries. You can work a 3-4 day week and still out earn someone slaving away 9-5 in a decent job.
I'm all for IHT and reducing the get outs.
Person A has a home in the south ( value outside IHT threshold) person B has a home in the North (inside IHT). The Person B does not need to sell and can live in it, Person A will have to sell or make of the difference if they want to live in it. Person A needs to get some type of loan if rates are high they may not afford it, which means additional pressure than the person up north does not have.
Of course this is simplified.
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IMO this doesn't matter. And you can argue it both ways. The person in the south still has much more wealth. Thus they are getting hit.
I certainly do not think we should be changing IHT based on post code.
Person A can move if things get that bad. Person B cannot.
Besides. You only pay IHT when you die. If person living in south pays no IHT when they die, but thier kids live somewhere cheap.. This isn't fair.
There are countless issues with unequal IHT
anyway you cut it, the UK worker is less productive than his french/german colleague - all have access to tech.
V , 20% more efficient so they could take friday off. France has less income inequality rich vs poor, too, so it's not going into ceo's pockets
Table 1: Annual output per hour worked (component method), whole economy, current price (CP) in GBP
| 2018 | 39.25 | 50.40 | 50.80 | 41.00 | 32.15 | 43.29 | 51.22 |
|---|---|---|---|---|---|---|---|
| 2019 | 38.89 | 52.49 | 51.21 | 41.81 | 32.66 | 44.41 | 52.80 |
| 2020 | 42.15 | 55.14 | 53.63 | 44.76 | 33.57 | 47.58 | 55.38 |
| 2021 | 42.94 | 55.50 | 55.83 | 45.33 | - | 46.92 | 58.88 |
| Year | Canada | France | Germany | Italy | Japan | UK | US |
|---|
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lets see ai do something in a kitchen ?? cook 250 breakfast or 200 dinners and stay in budget i'm good for a while yet .. tho i only earn 30k a yr .. but live up north
surprising how cheap it is ...lets see ai do something in a kitchen ?? cook 250 breakfast or 200 dinners and stay in budget i'm good for a while yet .. tho i only earn 30k a yr .. but live up north
Thats kind of the point. Humans will end up doing manual skilled jobs that aren't that well paid now and will have huge amounts of competition in the future. The reason certain trades can charge so much for their work isn't because its so skilled, its supply and demand. If that supply sky rockets then pay will decrease.
And cooking will 100% be something that technology eventually comes for.
Some niche ideas zooming around ignoring the core problem. These relief schemes skirt around the core issues
Build more homes
Increase Taxation for public services aimed at the top, aka those who earn significant sums outside of income(corp and capital gains increases). the entities that hoovered up all that COVID QE money need to give some of it back. The money's there just need the political will
Build more homes
Increase Taxation for public services aimed at the top, aka those who earn significant sums outside of income(corp and capital gains increases). the entities that hoovered up all that COVID QE money need to give some of it back. The money's there just need the political will
Soldato
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Always, and you know why we paid around £6000. Tax free rent a room
Corrected that mistake
What a joke that tax free allowance is.
5 years ago tax free allowance is the same as it is today, and it's the same for those who live up north in a village as it is for those who live down south.
Imo the allowance should be put up significantly, let those with spare rooms, rent them out. More rooms for rent mean more competition, and keeps rent prices down.
This also means more income for those with mortgages. We currently have 2 people renting rooms in our house, have for 5 years since we took the mortgage, however we often kick one of them out for 6 months of the year as it's just not worth losing loads of it to tax, so better to have less disturbance during the winter months when we are home more.
It is however stupid, we get good decent tenant that we tell to go, who ends up finding a more expensive room, just because of the out dated tax allowance amount.
Imo it should be at least 9k per year
I don't see any negatives of doing this.
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for a good tenant you could charge them less and keep a roof over there head .. ?? there still helping you pay your mortgage
I'm completely guessing here, but I wouldn't have thought it's that common for people to rent out 2 rooms in their main home? So we wouldn't really tailor tax thresholds/rates on outliers.
But I still don't understand why you would remove a good tenant just to not pay tax on any extra above the rent a room relief limit - you're still better off keeping the tenant in and paying the tax!
Soldato
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Its already there, but right now it only makes sense on a production line type basis due to the cost.
Where humans are great is dealing with variation. Where machines are great is dealing with repetition.
Making machines more able to deal with variation costs more money and exponentially generally as you add more and more variation.
This is where AI is likely to move the machine balance closer to the human.
Oddly in even some skilled trades some people are being trained to be more like robots!
Was talking to a sparky the other week and he said the guys doing electrics in new builds are now starting to work in teams, with the guys at the bottom not being trained sparks, just trained on how to do certain aspects of the job such as pulling cables.
So those guys go in, pull the cables and move on. The real sparks then do the bit that requires the skill and training.
Similar is happening in some coding environments for example, but the AI is the equivalent of the cable puller.
The AI repeats the big chunks of common and simple stuff, such as annotation etc, then a good coder links it together, reviews the code. OR potentially scraps the whole thing and asks to regenerate the code slightly differently.
Luckily for most of us, the barriers to entry are still quite high so whilst its coming its not going to be instant.
Soldato
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Its certainly unusual.
I guess it may become less so.
There must be a chance that 2 tenants should make the house an HMO. (HMO is defined a 3 different families renting the same property, IMO three different unrelated households should be the metric)
Most people don't want others living in their home, its disruptive.
I can't imagine many people having two spare rooms that would be suitable having had enough money to put themselves into that position.