Pensions, ISAs and Houses

[JohnD]

Theresa has promised more money to the NHS.

Social Services costs are escalating due to the aging population.

Older people have much more money tucked away than young people.

The government is unwilling to prevent the very rich from dodging tax.



I wonder where it will come from?

 

[Notch7]

Theresa has promised more money to the NHS.

Social Services costs are escalating due to the aging population.

Older people have much more money tucked away than young people.

The government is unwilling to prevent the very rich from dodging tax.



I wonder where it will come from?

Old McDonnell has a massive money tree....he has £300B at least for all his 'ambitions' in his conference speech, so praps the Tories should ask him

 

[noseall]

the Tories should ask him

The Tories never bother to ask, they just steal Labours' ideas.

 

[Notch7]

The Tories never bother to ask, they just steal Labours' ideas

I have admit: a very good answer!

 

[Notch7]

Older people have much more money tucked away than young people.

The Tories suggested a tax, which was roundly criticised by labour as a dementia tax. So they did try.....

 

[JohnD]

The Tories suggested a tax, which was roundly criticised by CONSERVATIVES as a dementia tax.


https://www.ft.com/content/82ff3a76-3c98-11e7-ac89-b01cc67cfeec

"Theresa May is facing a growing Conservative backlash against her plans to reform funding for social care, with critics claiming she is introducing a “dementia tax” that could amount to a 100 per cent inheritance tax rate for core Tory voters.
Conservative MPs voiced concern about the proposal, a flagship element of the Tory election manifesto, while the Bow Group rightwing think-tank warned that “the anger will be horrendous” once middle-class voters grasped what it meant."

http://www.dailymail.co.uk/news/article-4598772/Dementia-Tax-set-SCRAPPED-Tories.html

https://www.express.co.uk/comment/e...esa-May-dementia-tax-policy-social-care-chaos

https://www.telegraph.co.uk/news/20...t-drop-dementia-tax-social-care-system-needs/

https://www.thesun.co.uk/money/3619...ay-social-care-funding-plan-general-election/

Theresa dropped it out of pity for the terrible effect it was having on her voter support.

 

[Brigadier]

Older people have much more money tucked away than young people.

Seems fair enough, given they've almost certainly worked and saved for it to be that way.

 

[Notch7]

I wonder where it will come from?

You need to look on the side of a red bus.....

 

[IWalkLikeHimaMartian]

You need to look on the side of a red bus.....

Eeyore is continuing with his pernicious comments because he lacks the intelligence for any other sort of comment.

 

[JohnD]

Seems fair enough, given they've almost certainly worked and saved for it to be that way.

Perhaps you're right, and people on minimum wage and zero-hours contracts don't work as hard as people used to in the eighties. And perhaps you're wrong.

well, you don't get much if you try to tax people who haven't got much.

So the way to raise tax revenue is to take money off people who've got some.

I wonder if the owners of buy-to-let houses will rest easy?

 

[Ihavenojob]

How about an extra 10% tax on football transfer fees.

 

[motorbiking]

Should we make people who've planned for their retirement subsidise those who haven't?

I do agree that the old should pay more taxes, but don't think they are some sort of untapped fat cats

 

[EFLImpudence]

Is there a belief, for some unknown reason - other than typical GD nonsense, that old people are exempt from tax?

 

[JohnD]

not that I know of. It's poor people (and very rich ones) that don't pay much tax.

Although, of course, people with a million pounds in an ISA (and there are many of them) don't pay income tax or capital gains tax on it. Yet.

The point is, that if Theresa wants to raise some tax revenue, she will go after people who've got some wealth.

You will recall that the "pay no tax on dividends up to £5,000 a year" tory votewinner was reduced this year to "pay no tax on dividends up to £1,000 a year"

Bear in mind that to be pulling in £5,000 a year in dividends, you probably have about £200,000 invested in shares, on top of your ISA holdings, so it was generous to the better-off. To be pulling in £1,000 a year in dividends, you probably have about £40,000 in shares, on top of your ISA, so even a moderately successful plumber may be around that figure especially if he is using a dodge to avoid NI.

 

[Ihavenojob]

people with a million pounds in an ISA (and there are many of them)

Is that possible?