Planning for a Corbyn Government

[sidicks]

drainbrain said:

These new Workplace Pensions are just a sad joke.

I agree - compulsory contributions at such low levels are loss leading for most product providers and will provide negligible benefits.

[964Cup]

Why is anyone bothering to talk about Corbyn? Corbyn is not the problem, he's just the cuddly figurehead. Worry about McDonnell. He's a dyed-in-the-wool entryist. Once in power, he is committed to using that power to subvert democracy and introduce "genuine" socialism. This is not a man who will fiddle about in the margins with small tax increases or anti-avoidance measures. He will just take whatever he wants and give it to whomever he chooses, as every bolshevik who has ever gained power has immediately done. Stop comparing us to the 70s, and start worrying about Venezuela, because that's what we're in for if Momentum get in.

https://www.newstatesman.com/politics/uk/2016/03/e...
https://medium.com/@JRogan3000/corbyn-the-lrc-and-...
https://www.thetimes.co.uk/article/mcdonnell-i-joi...

Be afraid. If you're even marginally more successful than the next person, however much of that is down to your effort, energy, sacrifice, risk-acceptance or talent, McDonnell will take it away. The new politics of social media, with our ubiquitous two-minute hates, preference for 140-character platitudes and simplistic memes over any kind of reasoned debate and vitriolic envy of success - unless, oddly, it's the product of celebrity - will make it easy for him.

[sidicks]

964Cup said:

Why is anyone bothering to talk about Corbyn? Corbyn is not the problem, he's just the cuddly figurehead. Worry about McDonnell. He's a dyed-in-the-wool entryist. Once in power, he is committed to using that power to subvert democracy and introduce "genuine" socialism. This is not a man who will fiddle about in the margins with small tax increases or anti-avoidance measures. He will just take whatever he wants and give it to whomever he chooses, as every bolshevik who has ever gained power has immediately done. Stop comparing us to the 70s, and start worrying about Venezuela, because that's what we're in for if Momentum get in.

https://www.newstatesman.com/politics/uk/2016/03/e...
https://medium.com/@JRogan3000/corbyn-the-lrc-and-...
https://www.thetimes.co.uk/article/mcdonnell-i-joi...

Be afraid. If you're even marginally more successful than the next person, however much of that is down to your effort, energy, sacrifice, risk-acceptance or talent, McDonnell will take it away. The new politics of social media, with our ubiquitous two-minute hates, preference for 140-character platitudes and simplistic memes over any kind of reasoned debate and vitriolic envy of success - unless, oddly, it's the product of celebrity - will make it easy for him.

Agreed.

[Jockman]

sidicks said:

drainbrain said:

These new Workplace Pensions are just a sad joke.

I agree - compulsory contributions at such low levels are loss leading for most product providers and will provide negligible benefits.

I'm going to have to disagree with you both

They are a necessary first step along the path of getting people to embrace the concept of saving for their own future.

Remember the debacle of stakeholder pensions under Labour? Now we have a system with teeth, albeit baby teeth. I agree the the levels are low but in the next 15 months we will be at a level of 9% IIRC. Future govts will no doubt tinker with this level. It's what they do.

[xeny]

Jockman said:

I agree the the levels are low but in the next 15 months we will be at a level of 9% IIRC.

8% by the look of it (https://www.nowpensions.com/help-centre/faqs/contributions/what-are-auto-enrolment-contribution-rates), including a 5% staff contribution. Given the discussion earlier in the thread about the fraction of the population that has little to no financial slack, I wonder how people will cope with what will effectively be a pay cut?

[Jockman]

xeny said:

Jockman said:

I agree the the levels are low but in the next 15 months we will be at a level of 9% IIRC.

8% by the look of it (https://www.nowpensions.com/help-centre/faqs/contributions/what-are-auto-enrolment-contribution-rates), including a 5% staff contribution. Given the discussion earlier in the thread about the fraction of the population that has little to no financial slack, I wonder how people will cope with what will effectively be a pay cut?

Thanks. Yes, it's certainly going to test the commitment of some employees. Their net input will be 4% but perhaps many will stay the course when they see the employer commitment too? Fingers crossed.

[James_B]

jimmybell said:

Soooooo... dare i say it - back to the topic...

How does one 'do well' in Corbyn's utopia vision?

By being one of the party, the insiders.

Once ability in your job, innovation, or even extra hours worked can’t make you much better off than the next man then the only way to allocate the desirable properties, jobs, etc. is by having the state choose them for you.

I know that people will claim that Corbyn, McDonnell et al do ‘t Want to stop people getting wealthy, but I just don’t believe it. Again and again I’ve had hard left people ask me how it can be right that I can have a nicer car, house, holiday or food than them “just because” I earn more. They seem to think that so long as I have a penny more than them that I can “afford” to pay more tax, to equalise things.