Planning for a Corbyn Government
Discussion
Scottish Labour, Taxy McTaxFace...
“The richest 1% in Scotland today already own more personal wealth than the poorest 50% put together,” Leonard told a party event in Glasgow. “This is unjust. This needs to change.”
"He is expected to stick to Scottish Labour’s existing policy, supporting reintroduction of the 50p top rate for those earning over £150,000 along with a 1p rise in all other bands."
Yes, that's taxing poor people more.
And add a 1% windfall tax to the top 10% of Scotlands wealthy. Who won't be the top 10%, they'll have better advisors. Unreal.
https://www.theguardian.com/uk-news/2017/nov/27/sc...
“The richest 1% in Scotland today already own more personal wealth than the poorest 50% put together,” Leonard told a party event in Glasgow. “This is unjust. This needs to change.”
"He is expected to stick to Scottish Labour’s existing policy, supporting reintroduction of the 50p top rate for those earning over £150,000 along with a 1p rise in all other bands."
Yes, that's taxing poor people more.
And add a 1% windfall tax to the top 10% of Scotlands wealthy. Who won't be the top 10%, they'll have better advisors. Unreal.
https://www.theguardian.com/uk-news/2017/nov/27/sc...
Croutons said:
Scottish Labour, Taxy McTaxFace...
“The richest 1% in Scotland today already own more personal wealth than the poorest 50% put together,” Leonard told a party event in Glasgow. “This is unjust. This needs to change.”
"He is expected to stick to Scottish Labour’s existing policy, supporting reintroduction of the 50p top rate for those earning over £150,000 along with a 1p rise in all other bands."
Yes, that's taxing poor people more.
And add a 1% windfall tax to the top 10% of Scotlands wealthy. Who won't be the top 10%, they'll have better advisors. Unreal.
https://www.theguardian.com/uk-news/2017/nov/27/sc...
Addressing wealth inequality by taxing income? No flaws in the strategy!“The richest 1% in Scotland today already own more personal wealth than the poorest 50% put together,” Leonard told a party event in Glasgow. “This is unjust. This needs to change.”
"He is expected to stick to Scottish Labour’s existing policy, supporting reintroduction of the 50p top rate for those earning over £150,000 along with a 1p rise in all other bands."
Yes, that's taxing poor people more.
And add a 1% windfall tax to the top 10% of Scotlands wealthy. Who won't be the top 10%, they'll have better advisors. Unreal.
https://www.theguardian.com/uk-news/2017/nov/27/sc...
CaptainSensib1e said:
I wouldn't worry too much, there's still a large part of the Labour party which is central leftist, so JC won't actually be able to pass anything too radical through parliament without huge swathes of his party rebelling and not backing key votes.
In terms of investment strategy, first and foremost use as much as your ISA allowance as you can each year, which you shoukd be doing anyway. Secondly, stick with internationally diversifed businesses, they aren't going to be particulalry effected by what happens in the UK.
You see given the anti tax avoidance I’d say an attack on ISAs could well be on the cards. Why not? Pension investment is gross but they want to change that or reduce the max you can invest. In terms of investment strategy, first and foremost use as much as your ISA allowance as you can each year, which you shoukd be doing anyway. Secondly, stick with internationally diversifed businesses, they aren't going to be particulalry effected by what happens in the UK.
Actually I can see any party startingvto look into removing ISA max pots or for those earning over £x reduce the income tax allowance to zero or add a supplementary tax rate into the wealthy.
Heck it might be £20k annual ISA allowance is a rich persons tax cut no poor person can do that /to most its greater than their whole gross salary.
jimmybell said:
Soooooo... dare i say it - back to the topic...
How does one 'do well' in Corbyn's utopia vision?
Buy classic cars. How does one 'do well' in Corbyn's utopia vision?
How do you tax something which has no record of purchase price - and let’s say a very easy way of moving funds from one generation to the next for a “nominal” purchase price.
Say sell an F40 to your children for £1k - then buy them groceries for a few weeks to give he £1k back too.
PurpleTurtle said:
In those days they had a continent on their doorstep that they could relocate to and work in without too much trouble.
That won't be the case in post-Brexit Britain.
Unless you mean in coal & steel, not really the case. You think finding a job, relocating and gaining right to work was easier in 1978 and it will be in 2020?That won't be the case in post-Brexit Britain.
Ian350 said:
I could be wrong but I think that the top rate of income tax was 73% and then there was the lovely 15% investment income surcharge to add. So top rate of tax on investment income was 98% or thereabouts.
errrmmmm wouldn't that be 88%? Not that that is exactly something that'd have people jumping for joy!PurpleTurtle said:
In those days they had a continent on their doorstep that they could relocate to and work in without too much trouble.
That won't be the case in post-Brexit Britain.
and yet people managed to work/live abroad before 1973, indeed they still do so now in other non-EU parts of the worldThat won't be the case in post-Brexit Britain.
irocfan said:
Ian350 said:
I could be wrong but I think that the top rate of income tax was 73% and then there was the lovely 15% investment income surcharge to add. So top rate of tax on investment income was 98% or thereabouts.
errrmmmm wouldn't that be 88%? Not that that is exactly something that'd have people jumping for joy!PurpleTurtle said:
In those days they had a continent on their doorstep that they could relocate to and work in without too much trouble.
That won't be the case in post-Brexit Britain.
and yet people managed to work/live abroad before 1973, indeed they still do so now in other non-EU parts of the worldThat won't be the case in post-Brexit Britain.
Sean Connery
And countless others upped out of the U.K. at that point - to avoid the tax. Worse they have not returned and therefore we have lost 40+ years of tax from these high net worth individuals for some lunatic pet policy of labour.
Push someone too hard guess what happens - they give you the bird.
PurpleTurtle said:
In those days they had a continent on their doorstep that they could relocate to and work in without too much trouble.
That won't be the case in post-Brexit Britain.
No, you are right, of course. It is only thanks to the EU that people can manage to work abroad, it will be entirely impossible to do so post Brexit.That won't be the case in post-Brexit Britain.
Oh, wait...
Edited by sidicks on Saturday 2nd December 17:12
spyker138 said:
Mr Sidicks I notice you are the same with everyone on here, so I now don't take it personally.
However I came here for an argument ("an argument is a connected series of statements intended to establish a definite proposition") rather than just be contradicted (or hit over the head, be complained to or insulted).
If you don't want to be contradicted, don't post nonsense that doesn't stand up to basic scrutiny!!However I came here for an argument ("an argument is a connected series of statements intended to establish a definite proposition") rather than just be contradicted (or hit over the head, be complained to or insulted).
sidicks said:
FredClogs said:
Dude, only the rich have ISAs anyway!
Blatantly not true.http://www.telegraph.co.uk/personal-banking/saving...
FredClogs said:
It would appear you have a very strange definition of 'rich'.FredClogs said:
Thanks for the link Fred.I hate titles that are compromised by their first line !!!
sidicks said:
FredClogs said:
It would appear you have a very strange definition of 'rich'.FredClogs said:
We'll its all relative, if 40% of the working population have less than a week or two contingency and a large proportion of the rest a few months i think its fair to say the average man is NOT gifted the tax advantages of an ISA or even a private pension
I think it's fair to say you are wrong, given the compulsory workplace pensions that have existed for a few years.FredClogs said:
... It's probably their own fault though Sidicks, don't loose sleep... They're just every day folk making the economy work with their pennies, paying their VAT etc... Etc..
I've said no such thing. Rather than admit you're wrong you are now seeking to deflect from your nonsense claims and trying to suggest I've said something entirely different to what I've actually said.How predictably dull.
FredClogs said:
We'll its all relative, if 40% of the working population have less than a week or two contingency and a large proportion of the rest a few months i think its fair to say the average man is NOT gifted the tax advantages of an ISA or even a private pension... It's probably their own fault though Sidicks, don't loose sleep... They're just every day folk making the economy work with their pennies, paying their VAT etc... Etc..
You're just goading for a reaction. If you get one, I like mine salted please :,popcorn: Gassing Station | Finance | Top of Page | What's New | My Stuff