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Post by Clinton Cool on Dec 18, 2016 10:06:04 GMT
There are savings to be made if any government has the balls. Free prescriptions for the over 60's - I think this is ridiculous for anyone in full time work. Free bus travel for over 60's - As above Winter fuel allowance - As above All of the above should only be available to people retired and on state pension or otherwise means tested. The easiest way to do this would be to only make these benefits available to those claiming pension credit. This would be quite easy to administer. It would also be fairer. I can see it coming, soon.
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Post by peterboat on Dec 18, 2016 10:26:05 GMT
In the early 70s tax for the highest earners was something like 99 percent, as a result a lot of the rich people took their money and moved to countries that had a better tax policy for them.
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Post by Gone on Dec 18, 2016 10:27:48 GMT
Means tested benefits are expensive to manage and suffer fraud etc. Far better to keep free prescriptions, winter fuel and bus passes (the rich would never go on a bus anyway) and then get the money back through the tax system. Being just a few years away from drawing my pension, I don't like my idea from a personal viewpoint, but I have to accept there is justification for an extra tax on pensions that were built up on tax free contributions.
However to reward those that have managed to save a bit, I wouldn't hit most of us oldies, so those with tiny to modest top up pensions would pay nothing, those on more than (say) £20k should pay more tax, over and above the normal PAYE rates. Not popular, but fair.
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Post by peterboat on Dec 18, 2016 10:45:03 GMT
Means tested benefits are expensive to manage and suffer fraud etc. Far better to keep free prescriptions, winter fuel and bus passes (the rich would never go on a bus anyway) and then get the money back through the tax system. Being just a few years away from drawing my pension, I don't like my idea from a personal viewpoint, but I have to accept there is justification for an extra tax on pensions that were built up on tax free contributions. However to reward those that have managed to save a bit, I wouldn't hit most of us oldies, so those with tiny to modest top up pensions would pay nothing, those on more than (say) £20k should pay more tax, over and above the normal PAYE rates. Not popular, but fair. Its difficult to find a really fair system as what is fair for one is a disaster for another so maybe your idea is the easiest to administer and make work
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Post by lollygagger on Dec 18, 2016 16:34:06 GMT
There are savings to be made if any government has the balls. Free prescriptions for the over 60's - I think this is ridiculous for anyone in full time work. Free bus travel for over 60's - As above Winter fuel allowance - As above All of the above should only be available to people retired and on state pension or otherwise means tested. A few years ago, due to young not paying, old not paying and tending to have more prescriptions, anyone receiving benifits not paying, only 10% of prescriptions are actually paid for. Might as well make them free for all and give the likes of me break.
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Post by kris on Dec 18, 2016 16:34:42 GMT
I think a universal income would create an internal economy which is what we need in a post Europe economy.
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Post by peterboat on Dec 18, 2016 16:48:32 GMT
I think a universal income would create an internal economy which is what we need in a post Europe economy. I think their will a lot of job vacancies after brexit so we might find full employment and no benefits at all ........................
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Post by bodger on Dec 18, 2016 17:05:09 GMT
In the early 70s tax for the highest earners was something like 99 percent, as a result a lot of the rich people took their money and moved to countries that had a better tax policy for them. 19/6 in the pound, as I recall. Not that I was in that bracket. as an aside, we often meet a dog walker who owns several houses with rooms rented out to DHSS folk and drives a new Range Rover. unsurprisingly she knows all the tricks. when her (uninsured) dog needed treatment she imposed on a tenant (on benefits) to take the dog to the PDSA where she could get free treatment. she also has a disabled blue badge issued to her late husband, which she displays in the council car park before setting off for a brisk 2 mile walk. scrounging bitch.
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Post by Clinton Cool on Dec 18, 2016 21:13:31 GMT
I'm very much right wing in thinking but agree with the following, very much left wing idea:
Inheritance tax should be increased. Cue outrage from those due to inherit from rich parents one day. Incidentally, I'm one of them, but no outrage here.
My thinking? Dead people don't miss taxes taken from their wealth or earnings whereas live people do. Better to 'impoverish' someone who is no longer breathing rather than someone struggling to make ends meet.
My second idea is to do away completely with trusts. These instruments enable very rich people to pass on all their possessions without paying any tax at all. This is unfair, as someone with more modest wealth may be liable for inheritance tax.
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Post by Deleted on Dec 18, 2016 21:46:40 GMT
I'm very much right wing in thinking but agree with the following, very much left wing idea: Inheritance tax should be increased. Cue outrage from those due to inherit from rich parents one day. Incidentally, I'm one of them, but no outrage here. My thinking? Dead people don't miss taxes taken from their wealth or earnings whereas live people do. Better to 'impoverish' someone who is no longer breathing rather than someone struggling to make ends meet. My second idea is to do away completely with trusts. These instruments enable very rich people to pass on all their possessions without paying any tax at all. This is unfair, as someone with more modest wealth may be liable for inheritance tax. Here we agree. I keep telling my parents to spend what they have. Dad is 70, mother 62, neither are likely to make their 80's for various reasons (that will make sure they do.... ) by then I will have at least 10-15 years work ahead of me, I'm not relying on anything they may leave based on the assumption I've always worked for what I've got and don't need to start adding anything they have in to the equation. I'd rather they enjoyed the fruits of their labour rather than saving it for a rainy day that never comes and then giving a good portion up to HMRC.
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Post by jam on Dec 18, 2016 21:49:34 GMT
Means tested benefits are expensive to manage and suffer fraud etc. Far better to keep free prescriptions, winter fuel and bus passes (the rich would never go on a bus anyway) and then get the money back through the tax system. Being just a few years away from drawing my pension, I don't like my idea from a personal viewpoint, but I have to accept there is justification for an extra tax on pensions that were built up on tax free contributions. However to reward those that have managed to save a bit, I wouldn't hit most of us oldies, so those with tiny to modest top up pensions would pay nothing, those on more than (say) £20k should pay more tax, over and above the normal PAYE rates. Not popular, but fair. My original point is that such benefits should not be available for working persons until the state pension is drawn. I received such benefits until I retired and I felt that it was unfair as at the time I had a reasonable salary. On the subject of additional taxation for persons with a decent pension, I would find this abhorrent if forced to pay tax over and above the basic rate that was originally tax free at the basic rate. All taxation levels already apply to all pensions including the state pension despite the way the DWP word it.
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Post by pearley on Dec 31, 2016 16:00:20 GMT
There are savings to be made if any government has the balls. Free prescriptions for the over 60's - I think this is ridiculous for anyone in full time work. Free bus travel for over 60's - As above Winter fuel allowance - As above All of the above should only be available to people retired and on state pension or otherwise means tested. You've forgotten the £10 Christmas bonus that many pensioners don't even realise they get.
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Post by twbm2 on Dec 31, 2016 18:15:05 GMT
Genuine question .. I'm 61, my kids are in their 30's, both working but with bugger all chance of buying a house ... how is the Universal Income funded?
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Post by Deleted on Dec 31, 2016 18:30:56 GMT
Genuine question .. I'm 61, my kids are in their 30's, both working but with bugger all chance of buying a house ... how is the Universal Income funded? In short - No one really knows. Universal income is more of a suggestion as to what might be the future, think of it as a merging of socialism and capitalism (economies). It's not going to happen in the next decade or two (in any meaningful way), but is an idea for the future - we either address the imbalance of the 'haves' and 'have nots' through wars or revolution or find some other way. Even some of the very rich and powerful are beginning to consider it as an option, so there is some hope.
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Post by jam on Jan 1, 2017 19:41:43 GMT
There are savings to be made if any government has the balls. Free prescriptions for the over 60's - I think this is ridiculous for anyone in full time work. Free bus travel for over 60's - As above Winter fuel allowance - As above All of the above should only be available to people retired and on state pension or otherwise means tested. You've forgotten the £10 Christmas bonus that many pensioners don't even realise they get. Ah yes. Thanks for reminding me about that, I was able to have a few more mince pies
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