Your pension fund doesn't get capital gains taxed...
Westminster Politics
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In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
Your pension fund doesn't get capital gains taxed...
Yep and ISAs too, but stuff like crypto and property is ineligible for both.
Good. Crypto is garbage and property shouldn't be able to be amassed by one person easily so that everyone gets a chance to own some. Capitalism only works if everyone can get at least a small share of the capital.
Income is income. Should all be taxed the same no matter how it's been acquired.
Such an obvious loophole that can easily be closed. It's taboo to even question it though.
Such an obvious loophole that can easily be closed. It's taboo to even question it though.
The funny part is that the plutoctrats' excuse for this is that it encourages investments (same exact excuse they use for tax breaks and tax avoidance)
That is not capitalism. That is communism lite. Capitalism is what is currently happening
Not really, regulating capitalism doesn't mean it's not capitalism. I didn't say everybody gets given a small share of the capital (although that's how universal basic income works), I said everybody can have a share. There's no point working if you can't improve your lot by doing so.
A very simplistic way to put it is that capitalism regulates itself through the invisible hand of the market. Any regulation goes against capitalism But pure ideologies like capitalism or communism will never work due to the flawed human nature that is why they never existed a pure form of it and only mix models can thrive. Where capitalism is flawed, government has to intervene like with health care, studies, justice, military and others. the same as socialism/communism with state inefficiencies.
What you are asking, small share of the capital, which I disagree because it should be a bit more than small share of capital, is interventionism so not capitalism. And yes, I agree with you, amassing an stupid amount of capital of any form should be regulated by the government. But the governments are in cahoots with capitalists so it will never happen
Capitalism as you describe it is a mathematically unstable market system that essentially funnels all the resources to "the top", leaving everything else with nothing. So no, the invisible hand of the market doesn't regulate things. It requires intervention or there can be no consumers and so even "the top" becomes worthless. The most obvious form of intervention is redistribution of wealth through taxation and there has been no capitalist system ever that denied taxation was needed. You have to be an entirely uneducated extreme libertarian to think that. Other regulations on industry and society are also needed though, and social housing or free healthcare should be seen as no different in terms of necessity to a stable capitalist economy and society than any other form of intervention (product safety regulations, environmental regulations, policing, transport investment, education etc.)
I work in tax and have been bleating on about this (in this thread as well) for ages. The Tories are never going to raise CGT as a lot of them pay it, as they are rich (see Rishi Sunak's 2022/23 UK tax return). One of the first things I would do if I was in power would be to equalise the rates.
Yeah it feels like this u turn has been a bigger deal than just about every u turn the party in actual power have made. Both the BBC and guardian had live feeds on it.
Oh no you can’t do that! All the rich people will leave the county or use elaborate schemes to avoid paying it because they don’t currently do exactly that.
Our tax laws are not fit for purpose and archaic. We need a wealth tax and that can remove the need for some of these other taxes.
Seems that scumbag cnut Rosindell has gotten away with it. Not a shock.
The cat man has a chance of winning.
According to the comments he was set up and that guy is a regular anti-vaxxer
And this
https://www.dailyrecord.co.uk/news/scottish-news/naked-scots-butler-who-attacked-13422178
Not that I watched that, or ever plan to, but generally Sunak comes across as one of the least inspiring and charismatic politicians I have ever seen. He is someone that should be kept away from public speaking as much as possible
He comes across every bit a Goldman Sachs technocrat. That’s his heritage I suppose but why the Tories think that would be popular with the Red Wall, I have no clue
Who else do they have? Penny Mordaunt is the one who ran against him and she sounds posh as well. They don’t have anyone left who can actually appeal to people because they’re all either tinpot fascists or out of touch millionaires incapable of showing human emotion
The guy is spouting misinformation and looks like he’s seconds from snapping and climbing over people to lamp Sunak. If it weren’t on GB News you could almost have a bit of sympathy for Sunak here, I’m not sure how he’s supposed to deal with that, particularly considering the guy doesn’t even ask a question
Well, that's the Tory party. A cabal of horrible f*cks
No that's the Prime Minister Rishi Sunak.
i wouldn’t be so sure. as a scotch, his benefit money from westminster would enable him to go on up to 17 foreign holidays per year. it could just be a tan. a tan that us hard working englishmen have had to pay for.
How do you explain the hair? HOW DO YOU EXPLAIN THE HAIR
and what about the coke addiction? Oh no wait, that makes sense
probably went to turkey on one of his holidays.
What a shame... 
If you ever compare me to a Glaswegian again I'll fecking kick down your fecking door and chib yer heid tae fok ye wee cun-
.......Shit, maybe that is me?
You could mitigate that somewhat.
If I were Labour, I’d put a policy in the manifesto that tied MP’s pay rises to positive economic and social uplift.
“These guys wrecked the economy. They’re going to spend the next four years blaming us for it. They’ll almost certainly going to promise tax cuts at the next election. The country cannot afford to cut taxes now. That’s the adult answer, and we trust you with it
To this end, no Labour MP’s will take a pay rise unless we are doing what we promised.
This journey is going to be long, but we are in it with you”
It’s awful, but Labour will be playing offence and defence for the next five years. Do a good job. Call a snap election when the going is good. Repeat your messaging, really go all in on just how much the Tories have fecked shit up. Constantly release facts, figures, financial breakdowns once they’ve looked at the books.
I mean, they won’t. Exactly what you say will happen, will play out. But it needn’t be that open/shut.
Agreed.
Did Sunak not know that GBNews regularly gives airtime to those anti-vax cranks?
Is he oblivious to the fact that conspiracy theorist groups like TogetherDec (look them up at your own risk) lobby some of his MPs like Jenkyns and Fletcher?
Is he oblivious to the fact that conspiracy theorist groups like TogetherDec (look them up at your own risk) lobby some of his MPs like Jenkyns and Fletcher?
My late Father, a Labour voter all his life he told me, also said that what happens is this. The Tories are in Government for too long and become complacent, greedy and corrupt and get voted out. Labour come along with all their socialist dogma and good intentions but don't have the depth of talent or knowledge to get stuff done. They then use the 'We didn't know it was this bad' mantra to explain the lack of progress, then to Tories get back in for ten years'. Rinse, spin and repeat. He was pretty close to the truth. My view is that running the Country is now too complicated and important to be left to a bunch of amateurs. Having said that, Kwarteng had a degree in economics and look what a bollocks he made of it. Starmer is the weak link for Labour, the nodding dog repeating what his spin doctors tell him to say. Doesn't come over as sincere to me, neither does Sunak. We're f*****.
And this is exactly what will happen if/when Labour get in unfortunately and continue to offer nothing new. The very least they could do is set up PR but it won't benefit them any more than it would the Tories so they won't. The best we can hope for is that they don't steal as much of our taxes as the current organized crime syndicate currently in power and what a sad realization that is as a voter, that the best you can hope for is your money goes to where it should be going. I despair.
Well, my father always said that the ones that stay in power are corrupt but the ones that they come in new power after an election are equally corrupt but have empty pockets and they want to fill them up. So buckle up
To me, if I would be British, I would have 0 hopes that Labour would be less corrupt but while they are stealing the same I would hope they can pass some sensitive legislation that benefits the middle to low income population
Not really. He has a doctorate in economic history, with his specific specialism being the English recoinage of 1696. You need a basic aptitude in economics to pursue post grad economic history, but by no means do you need to be a trained economist.
His BA was in classics and history. He was good at that!
Obvious how disastrous it was, the innumerable briefings of labour infighting and scandals today show the media have been given the directive of taking the attention away from this absolute car crash.
That's not how the media works (as someone who works in it). This car crash was seen by hardly anybody and nobody wants to give GB News any promo/legitimacy except the Mail. It will be mentioned as and when but the fact the most interesting that came from this talk was some conspiracy theorist shouting at Sunak isn't really newsworthy