1st Labour Tory blow up

Mottie said:
No trawling required. JohnD's bragging at his prowess with his European investments are legendary. I’m surprised you couldn’t remember them from when you were on here as….who was it at the time?
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I can't remember. :giggle:

Did you have to back to 2021 to find a suitable post to respond to JohnD?
It's just as well I am banned so many times, it prevents you from looking back into the past for examples of my comments. :giggle:
 
motorbiking said:
they will be telling us that trickle down economics doesn't work
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It depends what you mean by "work". Most of the evidence and research shows that it leads to lower growth and greater inequality. But the rich do get richer.
 
JonathanM said:
Most of the evidence and research shows that it leads to lower growth and greater inequality. But the rich do get richer.
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Really - the rich are needed. More important is what they choose to do with it. Company economics are not just a little bit different to the ones applied to a country. There is a total difference. The main being the views of share holders.
 
ajohn said:
Really - the rich are needed. More important is what they choose to do with it. Company economics are not just a little bit different to the ones applied to a country. There is a total difference. The main being the views of share holders.
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Most of the macro economic evidence is that it doesn't make the economy grow any faster but that it does increase inequality.
 
"CGT is payable by individuals, but also self-employed sole traders, partners in business partnerships and company owners, among others.

It starts at a rate of 10% (or 18% on residential property) on profits above £3,000. It then rises to 20% on any amount above the basic tax rate, or 24% on residential property.

Critics point out that CGT rates are substantially lower than income tax. They say this can benefit wealthier people and Ms Reeves could opt to level the playing field or cut some CGT tax breaks for businesses."

BBC.com

That's a good point.

Why should the person who pulls in £100,000 from capital gains pay less tax than a person who pulls in £100,000 from paid employment?
 
"When people or their employers pay into private pension pots,, external they receive a tax relief on these contributions, up to set limits.

The relief allows some of a person's earnings that may have been taken by government in tax to go into their savings for retirement instead.

Under the current system, savers receive tax relief at the same rate as their income tax - meaning basic rate taxpayers receive relief at 20% and higher rate taxpayers at 40 or 45%"

BBC.com

That's a good point. The tax relief incentive was justified as preventing poverty in old age and encouraging people to save for the future.

Does a person pulling in over £125,140 need the rest of us to chip in and help him avoid poverty?

Biking (see pic) was bragging earlier that he is one such. I don't feel impelled to give him a 45% tax rebate to subsidise his yachting.

There are plenty of more worthy causes.

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It's all about how much other people pay. You're welcome to de-ISA your investments and make a larger contribution.
 
The difference is that I am willing to help the nation, and you aren't.
 
I've already helped and I will be helping a whole dollop more.

You? not so much.

Your generous offer of 1% of almost nothing at all, is still almost nothing at all.
 
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