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Increased taxation for the older generation?
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Tug Boat
Posted: 23 January 2024 18:53:25(UTC)
#824

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There is no generation advantaged by the tax regime.

Everyone is penalised, and it is over the top.

Let people take charge of what they earn.

Tax receipts will go up, money will move around the economy.
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4 users thanked Tug Boat for this post.
Arnoldy on 23/01/2024(UTC), Jay P on 23/01/2024(UTC), Newbie on 23/01/2024(UTC), Guest on 24/01/2024(UTC)
You have to change your life
Posted: 23 January 2024 19:06:50(UTC)
#825

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Tug Boat;293585 wrote:
There is no generation advantaged by the tax regime.



Cannot agree with that, Tug Boat. No idea how old you are but when I was a kid, pensioners were society's poor:- as testified today by legacy concessions around public transport, prescriptions et al .

Uniquely, my generation has enjoyed a lifetime of peace and prosperity, our path paved by our forbears. In my case, I have made more money from investing than I ever did by working and that chiefly in a tax-free protected environment; and I'm sure I'm not an outlier.
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2 users thanked You have to change your life for this post.
Busy doing nothing on 23/01/2024(UTC), Tim D on 24/01/2024(UTC)
MBA MBA
Posted: 23 January 2024 20:09:49(UTC)
#829

Joined: 16/12/2012(UTC)
Posts: 1,725
Having thought about it, if i were a Tory strategist I would just abolish IHT for the first £2m in the March Bugdet. It’s fairly cheap, Lab would definitely oppose it so it can be the wedge issue the Tories need. Yes I’d take a ht from the BBC, Guardian and FT and the social media activitists but it may help to shore up the Tory vote.
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SSJ
Posted: 23 January 2024 21:34:46(UTC)
#828

Joined: 13/09/2010(UTC)
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You have to change your life;293587 wrote:

Uniquely, my generation has enjoyed a lifetime of peace and prosperity, our path paved by our forbears. In my case, I have made more money from investing than I ever did by working and that chiefly in a tax-free protected environment; and I'm sure I'm not an outlier.

Here you go, assuage your guilt :) ...

https://www.gov.uk/guida...donations-to-government
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3 users thanked SSJ for this post.
Newbie on 23/01/2024(UTC), Jay P on 23/01/2024(UTC), Guest on 24/01/2024(UTC)
philip gosling
Posted: 23 January 2024 21:46:33(UTC)
#826

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You have to change your life;293587 wrote:
[quote=Tug Boat;293585]There is no generation advantaged by the tax regime.



Cannot agree with that, Tug Boat. No idea how old you are but when I was a kid, pensioners were society's poor:- as testified today by legacy concessions around public transport, prescriptions et al .

Uniquely, my generation has enjoyed a lifetime of peace and prosperity, our path paved by our forbears. In
.........
Quote

I was born after WWII into a house with no kitchen just a scullery and fireplace in living room, no inside toilet or bathroom, no central heating, no car, no phones, no double glazing no washing machine , no refrigerator or freezer, no car, no electric blankets and we walked to and from school and had classes of 40+. My mortgage rate in the 1970s was 15%.

So please don't tell me my generation had it easy - rubbish.

One thing older folk do is vote and they certainly gave Mrs May a good electoral lesson and all the Remoaners who abused those who wanted BREXIT and for sure the Tories are heading for a hiding even if it puts Starmer in - pity there isn't a Conservative "Farage" as none of the present Government seem to have principles or leadership qualities.
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1 user thanked philip gosling for this post.
Jay P on 23/01/2024(UTC)
Thrugelmir
Posted: 23 January 2024 23:35:00(UTC)
#831

Joined: 01/06/2012(UTC)
Posts: 5,330
MBA MBA;293594 wrote:
Having thought about it, if i were a Tory strategist I would just abolish IHT for the first £2m in the March Bugdet. It’s fairly cheap, Lab would definitely oppose it so it can be the wedge issue the Tories need. Yes I’d take a ht from the BBC, Guardian and FT and the social media activitists but it may help to shore up the Tory vote.


Nothing is ever free. 'Give with one hand, take with the other'
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Robert D
Posted: 24 January 2024 01:39:47(UTC)
#830

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MBA MBA;293594 wrote:
Having thought about it, if i were a Tory strategist I would just abolish IHT for the first £2m in the March Bugdet. It’s fairly cheap, Lab would definitely oppose it so it can be the wedge issue the Tories need. Yes I’d take a ht from the BBC, Guardian and FT and the social media activitists but it may help to shore up the Tory vote.


Even this hopeless and tone-deaf government realises that abolishing IHT in the midst of a cost of living crisis and figures this week showing record numbers of people below the poverty line isn't a good look with an election coming up.
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Tim D on 24/01/2024(UTC)
MBA MBA
Posted: 24 January 2024 05:09:17(UTC)
#832

Joined: 16/12/2012(UTC)
Posts: 1,725
Many counties have no IHT at all, and even more have much lower levels of IHT. Aus and New Zealand have no IJT>
I’m not saying its tight,
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You have to change your life
Posted: 24 January 2024 07:54:56(UTC)
#827

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philip gosling;293601 wrote:
You have to change your life;293587 wrote:
[quote=Tug Boat;293585]There is no generation advantaged by the tax regime.



Cannot agree with that, Tug Boat. No idea how old you are but when I was a kid, pensioners were society's poor:- as testified today by legacy concessions around public transport, prescriptions et al .

Uniquely, my generation has enjoyed a lifetime of peace and prosperity, our path paved by our forbears. In
.........
Quote

I was born after WWII into a house with no kitchen just a scullery and fireplace in living room, no inside toilet or bathroom, no central heating, no car, no phones, no double glazing no washing machine , no refrigerator or freezer, no car, no electric blankets and we walked to and from school and had classes of 40+. My mortgage rate in the 1970s was 15%.

So please don't tell me my generation had it easy - rubbish.

One thing older folk do is vote and they certainly gave Mrs May a good electoral lesson and all the Remoaners who abused those who wanted BREXIT and for sure the Tories are heading for a hiding even if it puts Starmer in - pity there isn't a Conservative "Farage" as none of the present Government seem to have principles or leadership qualities.


Your parents and grand-parents bore the brunt of the situation you describe, after fighting two world wars. Paying 15% on your mortgage doesn't really compare, plus you did that for self-interest, not sacrifice.

So be thankful you have lived through peaceful times in relative prosperity, inside a broadly healthy population; even if it has corresponded with a period of relative decline for the UK.
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2 users thanked You have to change your life for this post.
Tim D on 24/01/2024(UTC), NoMoreKickingCans on 24/01/2024(UTC)
Wave Action
Posted: 24 January 2024 14:13:45(UTC)
#833

Joined: 30/11/2023(UTC)
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Haven't we already got increased taxation for the older generation ? State pension age is soon to be 67yo and up from 65yo . Doesn't mean we all live another 2 years especially when most hope to reach 80 ish ?
Women's OAP 60 yo just a few years ago. Bus passes were also 60 yo . Free prescriptions maybe but it's the elderly who need them . Imagine a few items at £9.65p a go every month.

Government are trying to encourage saving especially into pension plans . Good idea basically but 8 million homes are either private or social rented. The figure is only going to go up as there's not enough new homes being built. That second pension either DB or a DC pot will be swallowed up paying the rent in many cases ? A DC pot with £200K withdrawing 4% PA mightn't pay the rent. Not all DB pensions are huge sums and again many are way less than £10k a year. Anyway they're fading away these days.

https://www.statista.com...vate-rented-households/

Back to the state pension. Not everybody gets the new state pension as millions of workers were contracted out . In my case I've paid extra NI stamps for 7 years and I'm still short of the new figure. It'll take until 70 yo to break even with the extra NI contributions. Personal allowance frozen so more tax.

It's all split all of this. Some are well off and others still struggling. I can't see much change with both Tory and Labour. You can only do your best with the situation.
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3 users thanked Wave Action for this post.
Keith Cobby on 24/01/2024(UTC), Guest on 24/01/2024(UTC), You have to change your life on 24/01/2024(UTC)
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