Goring Gull
New member
Anyone remeber theses, anyone on NSC join in?
Stumpy Tim said:Do you think Labour will really lose the next election?? I just can't see the British people voting in IDS who is an utter goon
dave the gaffer said:they used to say that about Hove being bluer than a deep blue , blue thing, painted blue.
Popkins...this is getting very scary, we agree again. I thought the Poll Tax was a fair way of local taxation, but the "poor " students wouldn't have it because they needed money for sex, drugs and beer. The poll tax riots was again another anarchist excuse/way of smashing up public property but having a "cause" to hang the vandalism on. It was Poll Tax then, Globalisation now, Iraq last week, fox hunting a year ago......what do you recon next?
Lord Bracknell said:Surely the best form of taxation is one that takes money from people who have done nothing to earn it?
These days that should mean taxing the windfall profits that house owners are making.
If you bought a house for £70,000 ten years ago, it would be worth £170,000 now.
In 1993, a £70,000 house was "affordable" - with a mortgage - if your earnings were £23,333 a year (assuming "affordable" houses cost about three times annual earnings - the traditional ceiling used by building societies).
Anyone earning £23,333 a year in 1993 would now be earning £34,724 (assuming earnings have gone up in line with the Average Earnings Index).
Someone earning £34,724 today can "afford" a house costing three times as much ... ie £104,000.
But the owner of what was an affordable house in 1992 will only sell it now for £170,000 - a real profit of £66,000 in ten years.
That profit (£6,600 a year) should be taxed.
Of course, there are big regional differences - it's worse in Brighton, as we all know.
But something needs to be done or home ownership will become impossible for anyone who can't inherit wealth.
If nothing is done... look forward to housing riots in ten years or so.
Highfields Seagull said:I could never get my head round why local taxation can't also be based on levels of income - a sort of local income tax.
Well why not? - Anyone?
Precisely, dave. It's relative to the perceptions of the people who are likely to be rioting.dave the gaffer said:but LB, its all relative
Stumpy Tim said:Do you think Labour will really lose the next election?? I just can't see the British people voting in IDS who is an utter goon
Lord Bracknell said:Surely the best form of taxation is one that takes money from people who have done nothing to earn it?
These days that should mean taxing the windfall profits that house owners are making.
If you bought a house for £70,000 ten years ago, it would be worth £170,000 now.
In 1993, a £70,000 house was "affordable" - with a mortgage - if your earnings were £23,333 a year (assuming "affordable" houses cost about three times annual earnings - the traditional ceiling used by building societies).
Anyone earning £23,333 a year in 1993 would now be earning £34,724 (assuming earnings have gone up in line with the Average Earnings Index).
Someone earning £34,724 today can "afford" a house costing three times as much ... ie £104,000.
But the owner of what was an affordable house in 1992 will only sell it now for £170,000 - a real profit of £66,000 in ten years.
That profit (£6,600 a year) should be taxed.
Of course, there are big regional differences - it's worse in Brighton, as we all know.
But something needs to be done or home ownership will become impossible for anyone who can't inherit wealth.
If nothing is done... look forward to housing riots in ten years or so.