| Why are the Tories making the axing of the bankers bonus cap… on 22:08 - Sep 23 with 764 views | StokieBlue |
| Why are the Tories making the axing of the bankers bonus cap… on 21:59 - Sep 23 by ibbleobble |
What’s an “average” person? From what I can see, lots of ‘average’ people will have benefitted enormously from some of this news ie: first time house buyers, those who own their own business, those working paying basic income tax as well as NI, IR35…
While they’re effectively undoing some previous bad Tory policy, there’s plenty that “average” people can point to as beneficial or be slightly relieved about.
In my view, bankers bonuses are the only real point of contention but even then I understand the logic to remain competitive with other countries. |
Must have took quite some effort to get delusional enough to make that post.
SB |  | |  |
| Why are the Tories making the axing of the bankers bonus cap… on 22:13 - Sep 23 with 749 views | BarcaBlue |
| Why are the Tories making the axing of the bankers bonus cap… on 22:08 - Sep 23 by StokieBlue |
Must have took quite some effort to get delusional enough to make that post.
SB |
Harsh! It was copied and pasted from the Daily Mail 60 billion govt giveaway lead article. |  | | |
| Why are the Tories making the axing of the bankers bonus cap… on 22:22 - Sep 23 with 734 views | jeera |
| Why are the Tories making the axing of the bankers bonus cap… on 22:13 - Sep 23 by BarcaBlue |
Harsh! It was copied and pasted from the Daily Mail 60 billion govt giveaway lead article. |
It is genuinely concerning that some people actually think this way.
No consideration to how the last stamp duty cut encouraged landlords to increase their portfolios and so continued to push prices higher by reducing the stock available to those on lower incomes.
Tax needs to be hiked for second properties, and tiered accordingly so it is no longer viable for the few to own so many bloody homes.
The only way no stamp duty makes any sense is to target first-time buyers only but then with houses in the 200-300 thousands price range the whole thing is beyond insane.
The economy is supported by the public borrowing from the banks and by artificially inflating house prices people need to continually borrow more and more just to have somewhere to live.
The public are held to ransom and no one seems to care. [Post edited 23 Sep 2022 22:27]
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| Why are the Tories making the axing of the bankers bonus cap… on 00:21 - Sep 24 with 685 views | tractordownsouth |
| Why are the Tories making the axing of the bankers bonus cap… on 17:19 - Sep 23 by FrimleyBlue |
I'm just asking a question tbh.
If you've made a successful business. Why should you be penalised just because others haven't?
I agree more should be done elsewhere but don't get the above.. |
Because you need the money to come from somewhere. Maintaining public spending while bringing in sweeping tax cuts is the other side of the Corbyn magic money tree argument with more borrowing and spending. And in fairness to Corbyn, his plans were for capital investment which would at least have generated some long term revenue (probably not quite enough to pay for itself but that’s another debate.)
You need a tax rate that is competitive - nobody is arguing for a return of the 90% tax band - but if you keep cutting tax, the revenue you gain eventually diminishes. That’s what Trump did in the US, corporation tax was slashed from 35% to 20% and the deficit ballooned. Truss is trying something similar and it’s almost never worked. You need a good tax base to pay for public services and borrowing should only be done for long-term benefit not short term handouts, else the debt becomes unmanageable. |  |
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| Why are the Tories making the axing of the bankers bonus cap… on 00:25 - Sep 24 with 684 views | tractordownsouth |
| Why are the Tories making the axing of the bankers bonus cap… on 21:59 - Sep 23 by ibbleobble |
What’s an “average” person? From what I can see, lots of ‘average’ people will have benefitted enormously from some of this news ie: first time house buyers, those who own their own business, those working paying basic income tax as well as NI, IR35…
While they’re effectively undoing some previous bad Tory policy, there’s plenty that “average” people can point to as beneficial or be slightly relieved about.
In my view, bankers bonuses are the only real point of contention but even then I understand the logic to remain competitive with other countries. |
First time house buyers will be absolutely screwed by this budget. Tax cuts for millionaires means rich landlords have even more capital they can spend driving up to deprived areas, taking out buy-to-let mortgages and charging the locals extortionate rent to pay it off. This further crowds first time buyers out of the already impossible market. | |
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| Why are the Tories making the axing of the bankers bonus cap… on 07:53 - Sep 24 with 639 views | ibbleobble |
| Why are the Tories making the axing of the bankers bonus cap… on 22:22 - Sep 23 by jeera |
It is genuinely concerning that some people actually think this way.
No consideration to how the last stamp duty cut encouraged landlords to increase their portfolios and so continued to push prices higher by reducing the stock available to those on lower incomes.
Tax needs to be hiked for second properties, and tiered accordingly so it is no longer viable for the few to own so many bloody homes.
The only way no stamp duty makes any sense is to target first-time buyers only but then with houses in the 200-300 thousands price range the whole thing is beyond insane.
The economy is supported by the public borrowing from the banks and by artificially inflating house prices people need to continually borrow more and more just to have somewhere to live.
The public are held to ransom and no one seems to care. [Post edited 23 Sep 2022 22:27]
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You mean you just didn’t benefit from it so you’d rather focus on negatives for some rather than positives for others / and by this, I don’t mean the super wealthy (as you’re all so fixated by), I mean large swathes of people neither ‘rich’ nor ‘poor’.
Yes the stamp duty freeze encouraged wealthier people to increase their portfolio. Why ignore the fact it enabled lots of first time buyers to make large savings? House prices increased as a result of many factors, not just stamp duty freezing ie: Covid, working from home, inflation so to position it just because of stamp duty is a very one sided and inaccurate argument.
Agree with your point about borrowing but the housing market has been appreciating since inception and will never change. Putting large taxes on those who own second homes is counter intuitive. Any threat to a very buoyant and necessary letting market would be very problematic.
“It is genuinely concerning that some people actually think this way.” What you’re actually saying is that it’d be less concerning if people thought more like you. Now that’s concerning.
[Post edited 24 Sep 2022 8:14]
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| Why are the Tories making the axing of the bankers bonus cap… on 07:55 - Sep 24 with 636 views | ibbleobble |
| Why are the Tories making the axing of the bankers bonus cap… on 22:08 - Sep 23 by StokieBlue |
Must have took quite some effort to get delusional enough to make that post.
SB |
You must be below average then given the grammatical issues with that sentence structure. | | | |
| Why are the Tories making the axing of the bankers bonus cap… on 08:09 - Sep 24 with 624 views | ibbleobble |
| Why are the Tories making the axing of the bankers bonus cap… on 00:25 - Sep 24 by tractordownsouth |
First time house buyers will be absolutely screwed by this budget. Tax cuts for millionaires means rich landlords have even more capital they can spend driving up to deprived areas, taking out buy-to-let mortgages and charging the locals extortionate rent to pay it off. This further crowds first time buyers out of the already impossible market. |
It’s not just tax cuts for millionaires is it? It’s tax cuts for people who earn £150k + who are most definitely not millionaires. It’s also a corporation tax freeze for 5.4 million SMEs in the UK as well as getting rid of the IR35 handicap, which was just farcical.
Im no Tory and Kwasi is just undoing lots of deplorable Boris policy but there’s lots of people benefitting from their back tracking, which I’ll gladly take, for now. | | | |
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| Why are the Tories making the axing of the bankers bonus cap… on 08:28 - Sep 24 with 602 views | StokieBlue |
| Why are the Tories making the axing of the bankers bonus cap… on 08:09 - Sep 24 by ibbleobble |
It’s not just tax cuts for millionaires is it? It’s tax cuts for people who earn £150k + who are most definitely not millionaires. It’s also a corporation tax freeze for 5.4 million SMEs in the UK as well as getting rid of the IR35 handicap, which was just farcical.
Im no Tory and Kwasi is just undoing lots of deplorable Boris policy but there’s lots of people benefitting from their back tracking, which I’ll gladly take, for now. |
"You must be below average then given the grammatical issues with that sentence structure."
Lovely that you posted this just before your latest post which isn't a glowing example of the English language.
But rather than focus on that lets look at the content which is disingenuous rubbish.
- The people who earn 150k+ are not the people who needed help from this budget, citing that they aren't millionaires doesn't change the fact that it's a budget which helps the people who need the least help.
- The budget does very little for SMEs. A number of SME owners were on the radio yesterday stating that the corporation tax would make very little difference as would the VAT changes and that both were insignificant when compared to energy and resource costs.
- The IR35 changes will allow many people on high-level contracts to go back to paying themselves through a limited company and then just paying dividends. Good for them but not for the income of the treasury and thus the rest of the country.
- The markets don't agree with you, borrowing costs are up and the pound is down. It's going to cost more to borrow and pay for this now. More debt lumbered on everyone for the better of a few.
You like to point out you're not a Tory but you seem to spend quite a bit of time defending policies which are clearly rubbish. Could be self-interest, perhaps they benefit you directly but they don't benefit the country as a whole.
SB | | | |
| Why are the Tories making the axing of the bankers bonus cap… on 08:45 - Sep 24 with 571 views | Mullet |
| Why are the Tories making the axing of the bankers bonus cap… on 08:09 - Sep 24 by ibbleobble |
It’s not just tax cuts for millionaires is it? It’s tax cuts for people who earn £150k + who are most definitely not millionaires. It’s also a corporation tax freeze for 5.4 million SMEs in the UK as well as getting rid of the IR35 handicap, which was just farcical.
Im no Tory and Kwasi is just undoing lots of deplorable Boris policy but there’s lots of people benefitting from their back tracking, which I’ll gladly take, for now. |
£150k per year puts you in the top 10% roughly (let's round it up generously to 11%) that literally excludes 89% of the population off the bat.
When the Great British Class Survey came out around 2011 the elites were the top 6% of the population and earnings were billed in the high £80k's from memory so the reality is more likely to be targeting that demographic with a bit of overlap for those aspiring to meet that classification.
Surely any civilised society, let alone a notionally rich one like ours should look to benefit the reverse of these figures? |  |
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| Why are the Tories making the axing of the bankers bonus cap… on 08:58 - Sep 24 with 557 views | Dubtractor |
| Why are the Tories making the axing of the bankers bonus cap… on 07:53 - Sep 24 by ibbleobble |
You mean you just didn’t benefit from it so you’d rather focus on negatives for some rather than positives for others / and by this, I don’t mean the super wealthy (as you’re all so fixated by), I mean large swathes of people neither ‘rich’ nor ‘poor’.
Yes the stamp duty freeze encouraged wealthier people to increase their portfolio. Why ignore the fact it enabled lots of first time buyers to make large savings? House prices increased as a result of many factors, not just stamp duty freezing ie: Covid, working from home, inflation so to position it just because of stamp duty is a very one sided and inaccurate argument.
Agree with your point about borrowing but the housing market has been appreciating since inception and will never change. Putting large taxes on those who own second homes is counter intuitive. Any threat to a very buoyant and necessary letting market would be very problematic.
“It is genuinely concerning that some people actually think this way.” What you’re actually saying is that it’d be less concerning if people thought more like you. Now that’s concerning.
[Post edited 24 Sep 2022 8:14]
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"Why ignore the fact it enabled lots of first time buyers to make large savings?"
That didn't happen though did it? The stamp duty freeze saw house prices increase massively! |  |
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| Why are the Tories making the axing of the bankers bonus cap… on 09:01 - Sep 24 with 538 views | NthQldITFC |
| Why are the Tories making the axing of the bankers bonus cap… on 10:53 - Sep 23 by J2BLUE |
They know they are done for so now it's just open piss take time for as long as they can cling to power. |
The surely incontrovertible fact that they are putting Party and profit before country in expectation of handing a disaster over to Labour and running away, pockets bulging, makes them actual Traitors.
There needs to be meaningful and severe sanction against the individuals responsible down the line in order to stop this becoming the norm in the future. It's either try to recover decency or face revolution and anarchy. |  |
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| Why are the Tories making the axing of the bankers bonus cap… on 09:34 - Sep 24 with 491 views | Swansea_Blue |
| Why are the Tories making the axing of the bankers bonus cap… on 07:53 - Sep 24 by ibbleobble |
You mean you just didn’t benefit from it so you’d rather focus on negatives for some rather than positives for others / and by this, I don’t mean the super wealthy (as you’re all so fixated by), I mean large swathes of people neither ‘rich’ nor ‘poor’.
Yes the stamp duty freeze encouraged wealthier people to increase their portfolio. Why ignore the fact it enabled lots of first time buyers to make large savings? House prices increased as a result of many factors, not just stamp duty freezing ie: Covid, working from home, inflation so to position it just because of stamp duty is a very one sided and inaccurate argument.
Agree with your point about borrowing but the housing market has been appreciating since inception and will never change. Putting large taxes on those who own second homes is counter intuitive. Any threat to a very buoyant and necessary letting market would be very problematic.
“It is genuinely concerning that some people actually think this way.” What you’re actually saying is that it’d be less concerning if people thought more like you. Now that’s concerning.
[Post edited 24 Sep 2022 8:14]
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That a bit of a strange way to look at it. I’d have thought the letting market is partly necessary because people can’t afford homes. Shoring up landlords exacerbates that problem. |  |
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| Why are the Tories making the axing of the bankers bonus cap… on 12:13 - Sep 24 with 437 views | tractordownsouth |
| Why are the Tories making the axing of the bankers bonus cap… on 08:09 - Sep 24 by ibbleobble |
It’s not just tax cuts for millionaires is it? It’s tax cuts for people who earn £150k + who are most definitely not millionaires. It’s also a corporation tax freeze for 5.4 million SMEs in the UK as well as getting rid of the IR35 handicap, which was just farcical.
Im no Tory and Kwasi is just undoing lots of deplorable Boris policy but there’s lots of people benefitting from their back tracking, which I’ll gladly take, for now. |
People who earn 150k aren't millionaires but they're also very far down the list of people who need help at the moment, and they're getting much more than everyone else.
As for corporation tax, there's very little correlation between the rate that is charged and the performance of the economy - we have the lowest in the G7 and our economy is one of the worst. Of all the supply-side reforms, it's one of the least effective - instead the money would have been better spent on reducing employers' NI contributions more than they have because it encourages them to take on more workers. And those employees' wages could have been offset to reduce corporation tax payments for firms anyway.
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