Neil Posted February 5 Report Share Posted February 5 5 minutes ago, steviewevie said: yes, but this is the green new deal, an industrial strategy to grow the economy. You borrow to invest, and from that investment comes growth. That is the idea anyway. But, problem is we already have a large debt, nearly 100% of GDP, and the cost of paying back that debt has gone up...so it is a big problem if we don't get any growth, and it is a problem if the fiscal rules restricting everything is to get debt coming down within 5 years (i.e. one term), because that will just make everything a lot harder, especially because, as you say, everything needs money. So, looks like Labour's promise to the country will be they really would like to do lots of nice things but can't, sorry. Of course they could raise loads of money by taxing wealth... Taxing wealth is very difficult to do cos everything would have to be valued to identify the wealth for taxing as a society we can't even keep on top of valuing houses and they're one of the easier wealth stores to put a value on.we need less pie in the sky and more thinking things thru. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 7 minutes ago, fraybentos1 said: Presumably it would come from borrowing and also it isn't throwing money away and lots of jobs would be created too. Also for a guy with a don't fly avatar on his profile I would have thought this would be a very high priority for you Also how is 28 billion 'everything available for spending'- the gov spends like a trillion per year So if you're alternating existing spending what are you going to cut? Link to comment Share on other sites More sharing options...
steviewevie Posted February 5 Report Share Posted February 5 4 minutes ago, Neil said: Taxing wealth is very difficult to do cos everything would have to be valued to identify the wealth for taxing as a society we can't even keep on top of valuing houses and they're one of the easier wealth stores to put a value on.we need less pie in the sky and more thinking things thru. well, some people much cleverer than you and I have come up with ways it can be done...I mean we already have wealth taxes, they just need improving. Link to comment Share on other sites More sharing options...
Skip997 Posted February 5 Report Share Posted February 5 No surprise that Neil is essentially against taxing wealth Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 5 minutes ago, Neil said: So if you're alternating existing spending what are you going to cut? I'm not doing anything other than pointing out that Labour have backtracked. Sorry it's not up to me to cost policy proposals for the opposition. They came up with the idea so they must have had some sort of plan. Also it was to do with borrowing the money to invest so nothing existing would have to be cut anyway. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 13 minutes ago, steviewevie said: well, some people much cleverer than you and I have come up with ways it can be done...I mean we already have wealth taxes, they just need improving. We don't have wealth taxes just income taxes. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 (edited) 18 minutes ago, Skip997 said: No surprise that Neil is essentially against taxing wealth I just can't see how it ca ln be done,vgo on show me how clever you are and say how it can be done. I'm not against wealth taxes I'm against stupidity! No surprise that skippy reckons he can do the impossible. Edited February 5 by Neil Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 11 minutes ago, fraybentos1 said: I'm not doing anything other than pointing out that Labour have backtracked. Sorry it's not up to me to cost policy proposals for the opposition. They came up with the idea so they must have had some sort of plan. Also it was to do with borrowing the money to invest so nothing existing would have to be cut anyway. If you expect them to spend that amount in all circumstances then you have to be prepared to cut other things if there's not enough resources to do it. Link to comment Share on other sites More sharing options...
steviewevie Posted February 5 Report Share Posted February 5 6 minutes ago, Neil said: We don't have wealth taxes just income taxes. inheritance tax? Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 3 minutes ago, Neil said: If you expect them to spend that amount in all circumstances then you have to be prepared to cut other things if there's not enough resources to do it. Why would they need to cut other things if the money is coming from borrowing. Also ask Labour what they were going to cut if you're so sure that is necessary cause it was their policy in the first place Neil Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 9 minutes ago, Neil said: We don't have wealth taxes just income taxes. wrong Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 6 minutes ago, steviewevie said: inheritance tax? That's a tax on the income somone recieves from an estate and is calculated after everything has been valued. So to apply wealth taxes across the living (which is what people mean when they talk about wealth taxes) would require everyone to sell up their possessions to have a cash value that can be taxed.( If there's a mass fire sale everything is worth f**k all) Link to comment Share on other sites More sharing options...
steviewevie Posted February 5 Report Share Posted February 5 2 minutes ago, Neil said: That's a tax on the income somone recieves from an estate and is calculated after everything has been valued. So to apply wealth taxes across the living (which is what people mean when they talk about wealth taxes) would require everyone to sell up their possessions to have a cash value that can be taxed.( If there's a mass fire sale everything is worth f**k all) it's a tax on inherited wealth. (well, it should be). Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 3 minutes ago, steviewevie said: it's a tax on inherited wealth. (well, it should be). It's also a tax levied on the cash value of assets which requires all assets to be valued. Valuing those assets is impossible. Is my house worth the £125k I paid or the £480k that my neighbours sold for? Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 7 minutes ago, steviewevie said: it's a tax on inherited wealth. (well, it should be). If someone is inheriting wealth thsts income to them. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 End of life taxes like inheritance taxes is not what people generally mean when they talk about wealth taxes. It's normally part of a conversationaabout how theres exteme wealth and thats normally sbout the living with extreme wealth. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 47 minutes ago, steviewevie said: inheritance tax? you can't fund day to day spending with a tax that requires someone to die, unless you're going to cause the dying? 1 Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 1 minute ago, Neil said: you can't fund day to day spending with a tax that requires someone to die, unless you're going to cause the dying? now you're just being plain daft Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 2 minutes ago, fraybentos1 said: now you're just being plain daft wealth taxes were being suggested as a way to fund day to day spending. the only wealth tax suggested was inheritance tax. which is needing people to die to fund spending. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 4 minutes ago, fraybentos1 said: now you're just being plain daft less daft than chucking out soundbites that cannot be done. at least i'm thinking. empty soundbites are for the emptyheaded. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 a year on from my mum's death, we have no idea if we'll need to pay inheritance tax - that's how slowly it works. Link to comment Share on other sites More sharing options...
Neil Posted February 5 Report Share Posted February 5 if somone is going to suggest wealth taxes, they need to define what exactkly they mean, else its just guff! Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 11 minutes ago, Neil said: less daft than chucking out soundbites that cannot be done. Dunno why you are quoting me here when all I was talking about was Labour back tracking on their 28bn pledge. How is that me giving soundbites? You have now pivoted to talking about inheritance tax 13 minutes ago, Neil said: at least i'm thinking glad we have identified the source of the issue! Link to comment Share on other sites More sharing options...
fraybentos1 Posted February 5 Report Share Posted February 5 Here's a tax proposal. Reform council tax cause it's daft. I read the other day that a 3 bed house in Blackpool can pay more in council tax than Buckingham Palace. Insane. Any objections? Link to comment Share on other sites More sharing options...
Crazyfool01 Posted February 5 Report Share Posted February 5 just sell off a load of the royal land .... saves us money as taxpayers , more into the pot for spending and more land for social housing Link to comment Share on other sites More sharing options...
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