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Post by Paul Spencer on May 18, 2024 17:27:21 GMT
I'm no fan of Starmer's shadow cabinet Henry but come on, I'm not sure how old you are but the last Labour government only ended fourteen years ago and when talking about what they did for working people, well they ... Introduced the Winter Fuel Allowance Had the shortest NHS waiting times in history Got crime down by a third Introduced the Disability Discrimination Act Delivered peace in Northern Ireland Took 500,000 children out of poverty Took child benefit to record levels Introduced the minimum wage amongst many, many other things. The Labour Party aren't going to come in with the deliberate intention to rob the working man blind and attempt to make the rich richer and the poor poorer. No doubt they're going to get a shit tonne of stuff wrong but they're at least going to ATTEMPT to watch the working man's back. Taking 500,000 kids out poverty by giving them a few quid was nothing other than a number crunching exercise. Okay, for the sake of argument, I'll concede your point. So what about the other stuff I mentioned? |
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Post by bayernoatcake on May 18, 2024 17:50:50 GMT
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Post by iancransonsknees on May 19, 2024 3:20:59 GMT
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Post by 828492 on May 19, 2024 18:46:05 GMT
www.theguardian.com/world/article/2024/may/19/grant-shapps-orders-review-into-plane-shortage-before-80th-d-day-anniversarySo we do not have enough aircraft available to do a symbolic parachute jump 80 (eighty) years on from when it happened? The last 14+ years of that time has been under a Tory (‘the natural party of government’) rule. Did Grant Shaps (aka Michael Green: aka Sebastian Fox: aka Corinne Stockheath) not have a ‘plan’ for this? If not, why not? Richi Sunk keeps saying that he, ‘has a plan’. Mr Sunk, what is that plan? Other than endlessly saying that you have a ‘plan’. And why does your ‘plan’ not have more than one plane?
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Post by Deleted on May 19, 2024 20:57:01 GMT
Hardly shocking that capital gains is taxed at lower than income tax. In fact, that’s exactly the reason why people invest in assets in the first place. If it was taxed at the same rate, why would you invest in a risky adventure? My biggest realization in recent months is that the best thing you can invest in is financial literacy education. You will not change the govt. Instead of complaining about the rich, we should be simply learning how they pay less taxes and finding ways to do that to grow our own assets. Schools don’t teach financial literacy. They can’t. Schools are designed to make workers. Workers pay tax that keeps govt afloat. For the last few years, I’ve moaned about the rich while a number of my friends have just put money in stocks etc. Up until recently, the difference between us now and then is I just sat there moaning while my friends spent evenings reading textbooks and learning the system. Over 90% of the US own a tv, less than 10% own a textbook on financial literacy or business. What I’ve learned is you won’t change the rich - they have knowledge, power and influence. Yet, the world is going to become more and more competitive for workers. You have to put as much effort into insulating yourself from that as you can. |
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Post by wannabee on May 19, 2024 22:53:50 GMT
Hardly shocking that capital gains is taxed at lower than income tax. In fact, that’s exactly the reason why people invest in assets in the first place. If it was taxed at the same rate, why would you invest in a risky adventure? My biggest realization in recent months is that the best thing you can invest in is financial literacy education. You will not change the govt. Instead of complaining about the rich, we should be simply learning how they pay less taxes and finding ways to do that to grow our own assets. Schools don’t teach financial literacy. They can’t. Schools are designed to make workers. Workers pay tax that keeps govt afloat. For the last few years, I’ve moaned about the rich while a number of my friends have just put money in stocks etc. Up until recently, the difference between us now and then is I just sat there moaning while my friends spent evenings reading textbooks and learning the system. Over 90% of the US own a tv, less than 10% own a textbook on financial literacy or business. What I’ve learned is you won’t change the rich - they have knowledge, power and influence. Yet, the world is going to become more and more competitive for workers. You have to put as much effort into insulating yourself from that as you can. I have noticed a common theme in your recent posts Cville as you have stepped out from the World of Research into Financial Investments. Good luck to you but with respect you have yet to read all of the textbooks Your first para is entirely wrong, the reason Earned Income - PAYE (Federal/ VA State Tax) versus Unearned Income (Investments) is different is that Unearned Income is derived from Earned Income or Inheritance both of which have already been Taxed It has little to do with the risk factor it depends on your appetite for Risk and Losses can be offset against Gains Another thing to remember is that Tax on Unearned Income only becomes liable when it is Realised. If you sell a stick in VA you will pay between 10%/37% Federal Capital Gains Tax and 5.75% State Gains Tax depending on the size of the Gain. If you buy a Stock for say $10,000 and you get Lucky and the Stock moves to $30,000 valuation, if you don't sell the stock you pay no Tax until you do. At the point you decide to sell there are other mechanisms to shelter the gain once we have moved on from 101 You bemoaned recently your choice of investing in Real Estate versus some of your Peers who invested in Shares. A simple equation is that for every winner there has to be a corresponding loser and the dealer takes a cut, very like Blackjack in Vegas. There are human well being and aforementioned appetite for Risk also involved. If for instance person A decides to buy a Real Estate Property for $500,000 with Mortgage which is suitable for their Family Unit that's a Lifestyle Choice. If person B decides to buy a Real Estate Property for $300,000 it may be adequate but not optimum for their Family Unit but they invest the remaining $200,000 in Stocks in the belief they can "Beat the Market" and turn the $200,000 Investment into a 100% return After Taxes and cash out for $400,000 to buy a $700,000 piece of Real Estate in five years. On the face of it person B may have made the better choice but it presupposes they made the right Stock picks. Also depending on how well person A researched his choice of Real Estate it's feasible that the property they bought could have appreciated by 8% per annum to now be worth $700,000 while enjoying a superior property to live in It's complex and I'm sure you know your peers well but when it comes to gambling which the Stock Market is people tend to discuss the Gains and Omit the Losses The advice I would give us have a Balanced Portfolio with a mix of High, Medium and Low Risk with at least 10% available for emergency liquidity Good Luck |
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Post by Deleted on May 20, 2024 0:06:19 GMT
Hardly shocking that capital gains is taxed at lower than income tax. In fact, that’s exactly the reason why people invest in assets in the first place. If it was taxed at the same rate, why would you invest in a risky adventure? My biggest realization in recent months is that the best thing you can invest in is financial literacy education. You will not change the govt. Instead of complaining about the rich, we should be simply learning how they pay less taxes and finding ways to do that to grow our own assets. Schools don’t teach financial literacy. They can’t. Schools are designed to make workers. Workers pay tax that keeps govt afloat. For the last few years, I’ve moaned about the rich while a number of my friends have just put money in stocks etc. Up until recently, the difference between us now and then is I just sat there moaning while my friends spent evenings reading textbooks and learning the system. Over 90% of the US own a tv, less than 10% own a textbook on financial literacy or business. What I’ve learned is you won’t change the rich - they have knowledge, power and influence. Yet, the world is going to become more and more competitive for workers. You have to put as much effort into insulating yourself from that as you can. I have noticed a common theme in your recent posts Cville as you have stepped out from the World of Research into Financial Investments. Good luck to you but with respect you have yet to read all of the textbooks Your first para is entirely wrong, the reason Earned Income - PAYE (Federal/ VA State Tax) versus Unearned Income (Investments) is different is that Unearned Income is derived from Earned Income or Inheritance both of which have already been Taxed It has little to do with the risk factor it depends on your appetite for Risk and Losses can be offset against Gains Another thing to remember is that Tax on Unearned Income only becomes liable when it is Realised. If you sell a stick in VA you will pay between 10%/37% Federal Capital Gains Tax and 5.75% State Gains Tax depending on the size of the Gain. If you buy a Stock for say $10,000 and you get Lucky and the Stock moves to $30,000 valuation, if you don't sell the stock you pay no Tax until you do. At the point you decide to sell there are other mechanisms to shelter the gain once we have moved on from 101 You bemoaned recently your choice of investing in Real Estate versus some of your Peers who invested in Shares. A simple equation is that for every winner there has to be a corresponding loser and the dealer takes a cut, very like Blackjack in Vegas. There are human well being and aforementioned appetite for Risk also involved. If for instance person A decides to buy a Real Estate Property for $500,000 with Mortgage which is suitable for their Family Unit that's a Lifestyle Choice. If person B decides to buy a Real Estate Property for $300,000 it may be adequate but not optimum for their Family Unit but they invest the remaining $200,000 in Stocks in the belief they can "Beat the Market" and turn the $200,000 Investment into a 100% return After Taxes and cash out for $400,000 to buy a $700,000 piece of Real Estate in five years. On the face of it person B may have made the better choice but it presupposes they made the right Stock picks. Also depending on how well person A researched his choice of Real Estate it's feasible that the property they bought could have appreciated by 8% per annum to now be worth $700,000 while enjoying a superior property to live in It's complex and I'm sure you know your peers well but when it comes to gambling which the Stock Market is people tend to discuss the Gains and Omit the Losses The advice I would give us have a Balanced Portfolio with a mix of High, Medium and Low Risk with at least 10% available for emergency liquidity Good Luck Oh, I’m not giving up my day job. I’ve just decided to spend more evenings reading more about all of this. I believe that I pay way too much in income tax and I’d like to find a legal way to start sheltering myself and my family’s future. For me, I won’t be getting involved until I’ve finally finished the few textbooks that I’ve picked up from then. Probably about 3 months yet. My wife does a bit but her pre-Med was an economics degree, so she’s a lot more knowledgeable on the topic than I. R.e., wins and losses, maybe it’s just those that I’ve met, but my friends have generally been very open about losing money in stocks, and losing big at times. You don’t learn to ride a bike without falling off, I think is how the saying goes. R.e., property, when you factor in real estate fees on the sale + the astronomical cost of property tax for a big house, 4+% of interest on the mortgage etc, profits soon start to dwindle unless you drop on with something. I do think that we should have got something cheaper but in the end, we were also limited by what was available near the school district that we wanted. So, that’s life. No decision is perfect. Ps, I also don’t believe that you have to “beat the market” in some sort of obscene way. However, the market does increase year on year. Learning enough to make good decisions seems like a better long term strategy to me than putting money into a savings acct at what, 4.60%? I.e., one that barely outpaces inflation. |
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Post by wannabee on May 20, 2024 2:31:19 GMT
I have noticed a common theme in your recent posts Cville as you have stepped out from the World of Research into Financial Investments. Good luck to you but with respect you have yet to read all of the textbooks Your first para is entirely wrong, the reason Earned Income - PAYE (Federal/ VA State Tax) versus Unearned Income (Investments) is different is that Unearned Income is derived from Earned Income or Inheritance both of which have already been Taxed It has little to do with the risk factor it depends on your appetite for Risk and Losses can be offset against Gains Another thing to remember is that Tax on Unearned Income only becomes liable when it is Realised. If you sell a stick in VA you will pay between 10%/37% Federal Capital Gains Tax and 5.75% State Gains Tax depending on the size of the Gain. If you buy a Stock for say $10,000 and you get Lucky and the Stock moves to $30,000 valuation, if you don't sell the stock you pay no Tax until you do. At the point you decide to sell there are other mechanisms to shelter the gain once we have moved on from 101 You bemoaned recently your choice of investing in Real Estate versus some of your Peers who invested in Shares. A simple equation is that for every winner there has to be a corresponding loser and the dealer takes a cut, very like Blackjack in Vegas. There are human well being and aforementioned appetite for Risk also involved. If for instance person A decides to buy a Real Estate Property for $500,000 with Mortgage which is suitable for their Family Unit that's a Lifestyle Choice. If person B decides to buy a Real Estate Property for $300,000 it may be adequate but not optimum for their Family Unit but they invest the remaining $200,000 in Stocks in the belief they can "Beat the Market" and turn the $200,000 Investment into a 100% return After Taxes and cash out for $400,000 to buy a $700,000 piece of Real Estate in five years. On the face of it person B may have made the better choice but it presupposes they made the right Stock picks. Also depending on how well person A researched his choice of Real Estate it's feasible that the property they bought could have appreciated by 8% per annum to now be worth $700,000 while enjoying a superior property to live in It's complex and I'm sure you know your peers well but when it comes to gambling which the Stock Market is people tend to discuss the Gains and Omit the Losses The advice I would give us have a Balanced Portfolio with a mix of High, Medium and Low Risk with at least 10% available for emergency liquidity Good Luck Oh, I’m not giving up my day job. I’ve just decided to spend more evenings reading more about all of this. I believe that I pay way too much in income tax and I’d like to find a legal way to start sheltering myself and my family’s future. For me, I won’t be getting involved until I’ve finally finished the few textbooks that I’ve picked up from then. Probably about 3 months yet. My wife does a bit but her pre-Med was an economics degree, so she’s a lot more knowledgeable on the topic than I. R.e., wins and losses, maybe it’s just those that I’ve met, but my friends have generally been very open about losing money in stocks, and losing big at times. You don’t learn to ride a bike without falling off, I think is how the saying goes. R.e., property, when you factor in real estate fees on the sale + the astronomical cost of property tax for a big house, 4+% of interest on the mortgage etc, profits soon start to dwindle unless you drop on with something. I do think that we should have got something cheaper but in the end, we were also limited by what was available near the school district that we wanted. So, that’s life. No decision is perfect. Ps, I also don’t believe that you have to “beat the market” in some sort of obscene way. However, the market does increase year on year. Learning enough to make good decisions seems like a better long term strategy to me than putting money into a savings acct at what, 4.60%? I.e., one that barely outpaces inflation. Good and refreshing answer it's just I noticed a different slant to your posts of late. Regarding the highlighted A. The simple approach, increase the Deductables on your 1040 B. The slightly more complicated, become an employee of your own Corporation and take advantage of the multiplier of your Turnover (Contract Income) to increase income available via R&D Tax Credits. Slight disadvantage in Virginia is that they impose a 6% Gross Receipts Tax. This assumes your employer is willing to change your Contractural Arrangement Factor Heath Care but there should be a quid pro quo Salaried Employee with Benefits/ Contractor Without Benefits As they say in the US - Do the Math (sic) no variables |
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Post by Huddysleftfoot on May 20, 2024 8:47:49 GMT
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Post by wannabee on May 20, 2024 9:13:44 GMT
Brilliant, and a hundred percent accurate assessment of the mess we're in. If it's too raw currently to rejoin EU don't be to proud to admit it wasn't all Sunlit Uplands and just for the sake of Brexit Ideology Purity cut your nose off to spite your face |
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Post by henry on May 20, 2024 9:31:55 GMT
Taking 500,000 kids out poverty by giving them a few quid was nothing other than a number crunching exercise. Okay, for the sake of argument, I'll concede your point. So what about the other stuff I mentioned? The fuel duty escalator that lead to protests, road blockades and a country wide shortage of petrol, businesses closing and an increase in petrol theft from parked cars. That was good. |
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Post by Huddysleftfoot on May 20, 2024 10:23:55 GMT
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Post by Huddysleftfoot on May 20, 2024 12:33:36 GMT
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Post by Paul Spencer on May 20, 2024 15:10:29 GMT
This is an extraordinarily candid interview with Kwasi Kwarteng, where he openly admits the naivety of himself and Truss in delivering their catastrophic mini budget, it's 50 mins long but it really is a riveting listen.
Highly recommended ...
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Post by wannabee on May 21, 2024 13:02:21 GMT
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Post by Veritas on May 21, 2024 13:05:15 GMT
The party of law and order!!! |
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Post by Gawa on May 21, 2024 13:20:37 GMT
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Post by essexstokey on May 21, 2024 15:31:29 GMT
Just looked on election predictor on 2 local seats both strong tory Upminster only a 3 % lead and romford only 01 %lead so 2 mega torie seats on a knife edge
Get these parasites out now vote anti tory
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Post by thehartshillbadger on May 21, 2024 19:29:06 GMT
Crikey this thread is dying a death, 4 posts in 28 hours. Must be a good day for the tories😉 or mere apathy?
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Post by knype on May 21, 2024 20:11:26 GMT
Crikey this thread is dying a death, 4 posts in 28 hours. Must be a good day for the tories😉 or mere apathy? Or Huddy is banned from Twitter |
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Post by roylandstoke on May 21, 2024 20:41:15 GMT
Hardly shocking that capital gains is taxed at lower than income tax. In fact, that’s exactly the reason why people invest in assets in the first place. If it was taxed at the same rate, why would you invest in a risky adventure? My biggest realization in recent months is that the best thing you can invest in is financial literacy education. You will not change the govt. Instead of complaining about the rich, we should be simply learning how they pay less taxes and finding ways to do that to grow our own assets. Schools don’t teach financial literacy. They can’t. Schools are designed to make workers. Workers pay tax that keeps govt afloat. For the last few years, I’ve moaned about the rich while a number of my friends have just put money in stocks etc. Up until recently, the difference between us now and then is I just sat there moaning while my friends spent evenings reading textbooks and learning the system. Over 90% of the US own a tv, less than 10% own a textbook on financial literacy or business. What I’ve learned is you won’t change the rich - they have knowledge, power and influence. Yet, the world is going to become more and more competitive for workers. You have to put as much effort into insulating yourself from that as you can. If everyone finds ways of avoiding paying tax, who pays for law enforcement and defence? I realise private health and education is a popular choice for the wealthy but surely rather than all of working to cheat the tax system wouldn’t it be more ethical and efficient to close up loopholes and ensure everyone pays their fair share. |
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Post by elystokie on May 21, 2024 21:01:17 GMT
Just been reading about Viscount Rothermere, owner of the Daily Mail group of newspapers. I wonder how many of his readers know that despite having a seat in the House of Lords he actually has 'non dom status' 🤔 How the friggitty fuck does that work then? 😡 'He has non-domicile (non-dom) tax status and owns his media businesses through a complex structure of offshore holdings and trusts.' Another 'man of the people' no doubt 😂 en.m.wikipedia.org/wiki/Jonathan_Harmsworth,_4th_Viscount_Rothermere |
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Post by Deleted on May 21, 2024 21:02:56 GMT
Hardly shocking that capital gains is taxed at lower than income tax. In fact, that’s exactly the reason why people invest in assets in the first place. If it was taxed at the same rate, why would you invest in a risky adventure? My biggest realization in recent months is that the best thing you can invest in is financial literacy education. You will not change the govt. Instead of complaining about the rich, we should be simply learning how they pay less taxes and finding ways to do that to grow our own assets. Schools don’t teach financial literacy. They can’t. Schools are designed to make workers. Workers pay tax that keeps govt afloat. For the last few years, I’ve moaned about the rich while a number of my friends have just put money in stocks etc. Up until recently, the difference between us now and then is I just sat there moaning while my friends spent evenings reading textbooks and learning the system. Over 90% of the US own a tv, less than 10% own a textbook on financial literacy or business. What I’ve learned is you won’t change the rich - they have knowledge, power and influence. Yet, the world is going to become more and more competitive for workers. You have to put as much effort into insulating yourself from that as you can. If everyone finds ways of avoiding paying tax, who pays for law enforcement and defence? I realise private health and education is a popular choice for the wealthy but surely rather than all of working to cheat the tax system wouldn’t it be more ethical and efficient to close up loopholes and ensure everyone pays their fair share. Sounds great in truth. However, until those loopholes are closed, why set yourself on an unequal footing, then get frustrated when others just continue to get ahead? It’s not like tax money is efficiently spent. There are so many stories of wasted money in publicly funded systems and local govt. Then you have crap like Truss’ catastrophic policy, one that not one person was able to actually vote on. You think that throwing more and more money at these people is moral? How many systems are continually getting worse? Isn’t that coinciding with steep tax increases over the last couple of years as well? For those starting out their careers now, do you think that the govt will be looking after them with healthcare and pensions in 40 (ha!), sorry, in 60 odd years? |
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Post by Huddysleftfoot on May 21, 2024 21:20:03 GMT
Crikey this thread is dying a death, 4 posts in 28 hours. Must be a good day for the tories😉 or mere apathy? Or Huddy is banned from Twitter Funny that....  |
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Post by roylandstoke on May 21, 2024 23:05:17 GMT
If everyone finds ways of avoiding paying tax, who pays for law enforcement and defence? I realise private health and education is a popular choice for the wealthy but surely rather than all of working to cheat the tax system wouldn’t it be more ethical and efficient to close up loopholes and ensure everyone pays their fair share. Sounds great in truth. However, until those loopholes are closed, why set yourself on an unequal footing, then get frustrated when others just continue to get ahead? It’s not like tax money is efficiently spent. There are so many stories of wasted money in publicly funded systems and local govt. Then you have crap like Truss’ catastrophic policy, one that not one person was able to actually vote on. You think that throwing more and more money at these people is moral? How many systems are continually getting worse? Isn’t that coinciding with steep tax increases over the last couple of years as well? For those starting out their careers now, do you think that the govt will be looking after them with healthcare and pensions in 40 (ha!), sorry, in 60 odd years? The governments we have don’t do a good job. We need to elect honest politicians who care about the world and the welfare of all of the people who live on it, not just themselves and their mates. There is enough for all of us. If we all looked out for each other, looking after ourselves wouldn’t be so difficult |
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Post by Deleted on May 22, 2024 0:04:44 GMT
Sounds great in truth. However, until those loopholes are closed, why set yourself on an unequal footing, then get frustrated when others just continue to get ahead? It’s not like tax money is efficiently spent. There are so many stories of wasted money in publicly funded systems and local govt. Then you have crap like Truss’ catastrophic policy, one that not one person was able to actually vote on. You think that throwing more and more money at these people is moral? How many systems are continually getting worse? Isn’t that coinciding with steep tax increases over the last couple of years as well? For those starting out their careers now, do you think that the govt will be looking after them with healthcare and pensions in 40 (ha!), sorry, in 60 odd years? The governments we have don’t do a good job. We need to elect honest politicians who care about the world and the welfare of all of the people who live on it, not just themselves and their mates. There is enough for all of us. If we all looked out for each other, looking after ourselves wouldn’t be so difficult Perfectly fair comment. However, where are these honest politicians who care about the world and the welfare of all the people who live on it? Are any running in the next election? Have any won in any election you’ve ever voted in? Fundamentally, that is the problem with politicians. They are NOT all as bad as each other. However, any politician that gets to power does so by greasing a few wheels and owing favors to people. Which wheels do they need to grease? I doubt they correspond to the average joe on the street, that’s for sure. |
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Post by crouchpotato1 on May 22, 2024 11:16:15 GMT
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Post by Huddysleftfoot on May 22, 2024 12:17:02 GMT
GE imminent.....
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Post by essexstokey on May 22, 2024 13:40:26 GMT
Rumour at lunch on BBC was July election |
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Post by Veritas on May 22, 2024 13:44:53 GMT
Rumour at lunch on BBC was July election Bring it on. If Sunak thinks July is his best chance to go to the country his advisors must feel things are only going to get worse! |
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