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Increased taxation for the older generation?
NoMoreKickingCans
Posted: 24 January 2024 15:47:53(UTC)

Joined: 26/02/2012(UTC)
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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+.


No doubt in another couple of decades I will be able like you to say... I was born into a rented flat and grew up in houses with a small black & white CRT TV with 576 lines of resolution, you lit the gas stove with a match, the walls and loft were uninsulated and everyone wore jumpers. People walked to the supermarket and back carrying bags with their food shopping and peeled potatoes at home. Cars didn’t start in cold wet weather when you had to open the bonnet to clean the distributor and spray the HT leads and get up 20 minutes earlier to clock into the office/factory on time. No internet, no digital still or movie cameras, no youtube videos of how to do maths, no automated spelling correction, no email, no mobile phones. Teachers threw books, chalk and if really lucky wooden board erasers at you, perhaps pulled your hair and for some wielded a cane on your backside or hands. We had droughts, and strikes, and cold wars, polished our own shoes, darned socks, shouted directions from a paper map to the car driver etc. Nobody screened our health or cured cancers or took selfies or brought pop stars back as holograms.

We live in a world of remarkable technological progress. You don’t miss what doesn’t yet exist and it doesn’t make much sense to tell the current generation thay never had it so good - but people do it anyway.
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Vince. on 24/01/2024(UTC), You have to change your life on 24/01/2024(UTC), Guest on 25/01/2024(UTC), Dexi on 25/01/2024(UTC), MBA MBA on 25/01/2024(UTC)
Keith Cobby
Posted: 24 January 2024 16:22:24(UTC)

Joined: 07/03/2012(UTC)
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You have to play the hand you're dealt. One thing is certain, life in 2024 is better for more people than it was in 1924 (or 1824).
8 users thanked Keith Cobby for this post.
You have to change your life on 24/01/2024(UTC), Thrugelmir on 24/01/2024(UTC), Wave Action on 24/01/2024(UTC), Tim D on 24/01/2024(UTC), what me worry? on 24/01/2024(UTC), NoMoreKickingCans on 24/01/2024(UTC), MBA MBA on 25/01/2024(UTC), jeffian on 12/02/2024(UTC)
what me worry?
Posted: 24 January 2024 17:43:01(UTC)

Joined: 20/11/2007(UTC)
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Keith Cobby;293682 wrote:
You have to play the hand you're dealt. One thing is certain, life in 2024 is better for more people than it was in 1924 (or 1824).


Or even the 1960's. we still had outside toilets in london along with unheated houses, ice on the inside of the windows in the winter, warming your clothes under the blankets before getting dressed in the morning.
etc etc

And don't get me started on the `1980's, 18% mortgage interest rates, basic rate tax at 39% etc etc

Well at least we did our bit to pay off the ww1 and 2 debts, eh? Still mustn't grumble......................
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MBA MBA on 25/01/2024(UTC)
Dexi
Posted: 25 January 2024 15:08:05(UTC)

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Don`t forget IHT @ 40 % , then there`s care home fees , some people paying £ 200 k + for care in their later years . Maybe the best plan is to give it away / spend it before the b*****ds take it all .
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Guest on 25/01/2024(UTC), Newbie on 25/01/2024(UTC), Martina on 25/01/2024(UTC), Wave Action on 26/01/2024(UTC), Neminem Laedit on 04/04/2024(UTC)
Tim D
Posted: 12 February 2024 12:19:03(UTC)

Joined: 07/06/2017(UTC)
Posts: 8,883

Resolution Foundation held some event on the dire state of UK savings today
https://twitter.com/resf...tus/1756972596061470986

Proposals include increasing auto-enrolment amounts, but with some of it going into a "rainy day"/"resilience"/"safety net" account ("sidecar savings"), and also allowing folks to borrow up to £20K from their pension pots "to cope with pre-retirement financial challenges".
MBA MBA
Posted: 12 February 2024 19:48:17(UTC)

Joined: 16/12/2012(UTC)
Posts: 1,725

Tim D;295948 wrote:
Resolution Foundation held some event on the dire state of UK savings today
https://twitter.com/resf...tus/1756972596061470986

Proposals include increasing auto-enrolment amounts, but with some of it going into a "rainy day"/"resilience"/"safety net" account ("sidecar savings"), and also allowing folks to borrow up to £20K from their pension pots "to cope with pre-retirement financial challenges".


In Oz the govt allowed access to their pensions during covid. Suprised the Tories haven’t done something like this as a easy way to give a few quid to their supporters (I’d be grateful, still wouldn’t vote for them)
ANDREW FOSTER
Posted: 12 February 2024 20:36:37(UTC)

Joined: 23/07/2019(UTC)
Posts: 8,124

MBA MBA;296004 wrote:
Tim D;295948 wrote:
Resolution Foundation held some event on the dire state of UK savings today
https://twitter.com/resf...tus/1756972596061470986

Proposals include increasing auto-enrolment amounts, but with some of it going into a "rainy day"/"resilience"/"safety net" account ("sidecar savings"), and also allowing folks to borrow up to £20K from their pension pots "to cope with pre-retirement financial challenges".


In Oz the govt allowed access to their pensions during covid. Suprised the Tories haven’t done something like this as a easy way to give a few quid to their supporters (I’d be grateful, still wouldn’t vote for them)


How does it give them money...?

It would still be taxed.

The rest is their money anyway 🤷
Tim D
Posted: 12 February 2024 21:15:07(UTC)

Joined: 07/06/2017(UTC)
Posts: 8,883

Didn't know about the Oz COVID pension access thing. Some review of how it went at
https://aifs.gov.au/rese...ion-through-family-lens
or summary at
https://aifs.gov.au/medi...nnuation-make-ends-meet
Seems there were a couple of chances to withdraw 10,000 AUD (~£5000?).

Ended up watching the Resolution Foundation's video of their event (quite interesting).
One of the slides showed what other countries allow in terms of early access
Pension access
Tim D
Posted: 04 April 2024 21:18:06(UTC)

Joined: 07/06/2017(UTC)
Posts: 8,883

Alarmist Tele piece on how the "Starmtroopers" - young Labour MPs also likely to be renters - are coming for pensioners' and homeowners' wealth!
https://www.telegraph.co...n-tax-pensioner-wealth/
https://archive.is/fcQVP
3 users thanked Tim D for this post.
Helen L on 05/04/2024(UTC), New Simon T on 05/04/2024(UTC), Martina on 05/04/2024(UTC)
Neminem Laedit
Posted: 04 April 2024 22:21:00(UTC)

Joined: 17/09/2018(UTC)
Posts: 1,473

Pretty much all tax, except VAT, Council Tax and Road Fund Licence, is voluntary in this country, if you know what you're doing. And are not on the killer...PAYE.

One of the great tax-havens of the world - especially for its own [clued-up] citizens !
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