Its not about everyone becoming rich though, its about (almost) everyone becoming poor(er). Wealth, and I mean real wealth not a £500k house is being concentrated into fewer and fewer hands all the time. That doesnt end well usually.
Mortgage Rate Rises
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The meme is genuinely a thing I learnt a few months back.Could be another temporarily embarrassed billionaire...
Even poor people vote for policies that benefit the wealthy as they see themselves there at some point.
A lof of people believe they contribute because they work. But in reality many are the very "spongers" they like to hate on.
But the end game of this is very very few super rich. And everyone else as slaves. Back to the past.
Without government intervention this is likely how it will tend towards.
If you genuinely want "every man for himself" it would be a very grim world for 99.999pc of the world.
It’s going to be important to get the threshold right. France really messed up with theirs and are still paying for it today even though they removed it in 2018.
It is every man for himself otherwise everyone would be on the same financial level from day one.
The government won't intervene with anything if they are not going to financial benefit from it. Everytime the rates rises most people are poorer, the government doesn't care or do anything to help. Then again, why should they?!??
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This is going completely off topic now, but the whole system is setup by default to keep you working, paying taxes and fuelling the economy/country.
No matter how rich or how much you get paid, governments takes a cross selection of your cake and the rest is for you to divide according to your bills and spending which also gets taxed.
Why do you think they are moaning about all the people who exit the rat race and took early retirement?
There's a big difference between being rich, how large of a cashflow tunnel you have to being wealthy, how much cash/assests someone accumulates.
The only way to become wealthy is to know the system well enough and find loop holes in it that won't get you hit by a fine or in jail.
No matter how rich or how much you get paid, governments takes a cross selection of your cake and the rest is for you to divide according to your bills and spending which also gets taxed.
Why do you think they are moaning about all the people who exit the rat race and took early retirement?
There's a big difference between being rich, how large of a cashflow tunnel you have to being wealthy, how much cash/assests someone accumulates.
The only way to become wealthy is to know the system well enough and find loop holes in it that won't get you hit by a fine or in jail.
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Soldato
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Because its theft and communism, its also negative feedback loop.
If you watch that tv show with bear Grylls where some group of men are on an island for 7 weeks.
One man has experience fishing and he catches a lot of fish, everyone else, mostly sitting about doing **** all.
He gets annoyed and decides to sit around and not fish, so they dont eat.
The solution to being poor is to realize you do not give enough value, thus you need to learn more skills, and work harder.
The same arguments used by the socialists are also used by the incels. The socialists say the rich should give them money, the incels say the women should give them sex.
This is hilarious. The idea that peoples lot in life is always a result of their own choices and input. Even if you ignore the massive inequalities in your childhood environment, education opportunities, health, intellect and luck, you really have to be wilfully ignorant to think that people earning millions a year deserve that amount of money vs someone else working just as hard.
No one is arguing for communism. No one thinks that a teacher or a binman should be earning the same as a professional tennis player or an aerospace engineer. What most rational people do think though is that with the vast amounts of wealth we have in first world nations, everything should be far better for those at the lower levels of the system. That people shouldn't be struggling to get by with both parents working full time simply because they decided to have children or have the audacity to want to own their own home.
Probably the most stupid thing of all though is that pretty much all of the best countries to live in follow this ethos and they are better for it. You will be a more prosperous country if you don't have a sub-class of people who never contribute anything to society apart from badly raised children. Unfortunately, that requires massive investment to make the school system and social safety net better.
Its not the politics of envy, its the politics of unbridled green by a tiny proportion of the population.
No one is arguing for communism. No one thinks that a teacher or a binman should be earning the same as a professional tennis player or an aerospace engineer. What most rational people do think though is that with the vast amounts of wealth we have in first world nations, everything should be far better for those at the lower levels of the system. That people shouldn't be struggling to get by with both parents working full time simply because they decided to have children or have the audacity to want to own their own home.
Probably the most stupid thing of all though is that pretty much all of the best countries to live in follow this ethos and they are better for it. You will be a more prosperous country if you don't have a sub-class of people who never contribute anything to society apart from badly raised children. Unfortunately, that requires massive investment to make the school system and social safety net better.
Its not the politics of envy, its the politics of unbridled green by a tiny proportion of the population.
Spoken by a person who has likely never been poor in his/her life.
Theft lol. How about they just pay the same % of tax as the rest of us.
And I don't have an objection with billionaires hiding their money offshore being taxed more.
But a slightly above average Joe living in London with a reasonable job that has assets of a couple of million due to inherited property etc from his parents working hard their whole lives shouldn't be penalised for that. They paid tax their whole lives. Then you charged inheritance tax at 40% on what the kid got. And now because he's got assets in his name he should be taxed again? Nonsense.
Universal tax is the fairest way.
Not gonna happen ever.
Since the day 0 of taxation the people in charge or have money, have always sought to siphon money from the people beneath them while trying to keep their money untouched.
I think I've found your problem, if you have a reasonable job in London and a couple of millions in property, you are not "slightly above average".
Absolutely. I was lucky to be born into a stable family, in a rich country, with lots of opportunity and have decent intelligence
I certainly haven't got where I am through hard work etc etc, tory tory blah blah.
Apparently there's a growing awareness around millennials where, for the first time, a generation might not vote tory as they become more asset rich as they see how they got there as luck more than skill.
I Would be disgusted if IHT was cut. As its a huge wealth inequality driver. Even modest inheritance can be life changing. I think it should be increased.
Just because you're grandad worked hard or whatever I don't see why you should get a free ride and be able to claim it's morally right.
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Soldato
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Tax is theft.
Not true, but right now i am not rich either, im not in the higher tax bracket. Additionally, my level of frugality is pretty extreme.
Spoken by a person who cannot be infected with the disease of socialism.
But its already 40% and again the richest just dont pay it anyway.
If 98% of your wealth is all tied up in the property you live in like 95% of the population, it doesn’t mean they have wads of cash on hand to pay additional tax no matter the value of the property. A pretty average job doesn’t actually pay that well in the U.K. even in London.
It would simply push normal people away from the community they grew up in.
When they die, IHT will be due on something of that much value. The property would probably have to be sold anyway to fund the tax bill. The government is getting the tax one way or another.
Wealth at that level only lasts for 1-2 generations. It’s only once you get up to the mega rich where they have enough available capital to generate more capital and it is carefully managed and protected where intergenerational wealth prevails.
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Yeah i wish it was inescapable
I'll never understand this. It's like the mindset of people who think they're born to serve.
You talk about disease, you seem fully infected with "I know my place"
Soldato
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I dont know how you've come up with the whole born to serve, i know my place idea?
Its the exact reverse, you are born to pay tax, that is serving??
I want to earn for myself, and in theory my family, and, everyone else does the same, and i dont want anyone elses money, ever, for any reason possible.
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