Ten reasons - Why the Mansion Tax is a great idea !!

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Post by TRUSSMAN66 on Sun 23 Nov 2014, 12:44 pm

1. Whilst good accountants can hide money..........Very hard to hide a house.....

2. Gets money off people who can afford it at the top end of the Market (Sorry Daddy!! Very Happy ) ......I'm all for tax cuts for the middle but not for millionnaires..

3. Will no doubt keep Mansion prices down in price. So it would be nice to see at least some houses dropping in price !!

4. My house is estimated at £400-450,000 so it won't affect me... Cool

5. Stops hardworking people and the weakest in society from being penalised for a change.......

6. As a Labour voter it buys into the notion that Labour are going after the right people and may re-establish it's firewall...and it's disappearing core vote..........Desperately needs policies to motivate it's wavering support.

7. The Daily Mail and Telegraph are moaning about it !

8. Toppy is moaning about it !!

9. If you have a £2 million house and are short of money then downscale.....Plenty of nice garages around for £1.5 million..

10. The money is going into the NHS which can only be a good thing......

Anyway as one of the few left leaning types on here I don't expect many will agree.......Can't even get agreement in my own house !!............But that's where I'm at.....and I'm a stubborn old Fa*t....

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Post by Duty281 on Sun 23 Nov 2014, 5:17 pm

One reason why it is an awful idea: the clueless, inept Ed Miliband is a champion of the idea.

And that pretty much curtails any hope of it being a decent policy.

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Post by TRUSSMAN66 on Sun 23 Nov 2014, 8:54 pm

Good job Miliband didn't discover penicillin..

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Post by Duty281 on Sun 23 Nov 2014, 9:25 pm

As Labour will not get elected in 2015, we need not worry about the mansion tax. 

I hear four in ten oppose this tax, and a great more oppose Miliband's leadership.

But given how the great Ed feels "respect" when he sees a white van, and that he thinks of the "Battle of Cable Street" when England comes to mind, perhaps he has far greater problems?

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Post by TRUSSMAN66 on Sun 23 Nov 2014, 10:27 pm

That means 6 out 10 support it.

You amuse me..

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Post by Duty281 on Sun 23 Nov 2014, 10:45 pm

Not if one in ten tick the "don't know" box, as they did.

Still voting Labour, Truss? It is like getting a lucky dip on the lottery: you do not know what you shall end up with, and you will most likely lose.

I amuse myself even more, I assure you.

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Post by TRUSSMAN66 on Sun 23 Nov 2014, 10:59 pm

I know what I'm getting now Mate....and it can't be any worse !!

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Post by TopHat24/7 on Mon 24 Nov 2014, 9:33 am

1. Shows you don't know what you're talking about, money & houses are both financial assets and rich people can find ways to mitigate their tax liabilities accordingly.

2. Wrong, because as per above, the actively rich will find ways round it and those who'll get screwed are people that have lived in the same place 20-30 years with no active income - how are they going to pay? SDLT already taxes the hell out of the currently high-earners each time they transact.

3. Not really, it'll just create a chasm between high £1m's and c.£3m+. Plus, again, it's not a transaction cost it's a hold cost therefore it's impact on prices will be lessoned. None of the country outside London will notice a modicum of change.

4. Will never effect me either, doesn't mean I can't see through it as a ludicrous, pernicious and ill thought-out policy.

5. How? I'll answer, it doesn't. Won't make a shred of difference for 95% of society.

6. A policy that won't benefit the working classes or the majority of the middle-classes. Only a vote-winner for the naive and idealistic.

7. DM nobody should take seriously, on any level, DT is a top respectable & relatively balanced/independent paper - better than that sycophantic chattering class hate-filled muck the Guardian.

8. Play the ball, not the man. I'm not moaning, as it will never affect me, but social housing policy changes didn't affect you either but you still kicked off...?

9. Why should someone who's earnt the right to live somewhere, paid for out of their own pocket & endeavour, be forced to downscale?? Height of absurdity, bitter communistic viewpoint. If there's any forced downscaling, it should be where there are ACTUAL pressures on housing supply - social housing.

10. No, it's not. It's going into a pot. Goverment finance legislation prevents 1 tax been collected specifically to be allocated to one area. Labour have simply said increasing funding to the NHS is one of the things they'll do with increased tax revenues. Regardless, to quote the fine and wonderful Mylene Klass - that isn't solving the problem, or showing you understand what's wrong, it's called just chucking good money after bad.

You know what happened last time we had 12 years of doing that - The Great Recession.

Hands up who wants another massive recession??

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Post by TRUSSMAN66 on Mon 24 Nov 2014, 12:38 pm

Have to hand it to Attila that certainly is rebuttal...

But it doesn't hurt my faith in the policy..I regard myself as pretty well of and my house is worth 4 1/2 times less....

£2 million is a lot of money...If it's a problem downsize...

The middle and working classes have been hit enough.

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Post by TopHat24/7 on Mon 24 Nov 2014, 12:44 pm

Attila??! Lol

If your house was in London it would be worth 4 1/2 times more - and be hit. My flat isn't in a great area and still worth £350k.

And I reiterate my downsizing commnents, nobody has the right to tax someone out of the home they have bought & paid for themselves - especially when there's no other market pressure for them to do so.

Don't see how the working classes have been hit. The middle classes, yes, and welfare-dependent underclass, yes, but can't think of any policy charges that have specifically targeted low & semi-skilled labour, tradesmen/women etc.

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Post by superflyweight on Mon 24 Nov 2014, 12:49 pm

Would consider myself to be relatively left-leaning, Truss, but not sure about the mansion tax at all. Seems to be an attempt to profiteer from an over-inflated housing market rather than try to address the problem. It's probably well intentioned but it's indicative of the small, half-assed policies that this Labour leadership seems to specialize in.

They need go back to basics and identify real problems and propose how they're going to address them.

Toppy - Labour didn't cause the last recession and it wouldn't have been any different under any other government so attempts at political point scoring seem to be redundant.

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Post by TRUSSMAN66 on Mon 24 Nov 2014, 12:54 pm

Do you mean there was a World recession ??

It's either raising the higher band tax or this...


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Post by TopHat24/7 on Mon 24 Nov 2014, 1:15 pm

TRUSSMAN66 wrote:Do you mean there was a World recession ??

It's either raising the higher band tax  or this...


That's presuming that increasing tax revenues is the only solution.

With smaller more efficient government, greater devolvement etc there wouldn't been a need for more money in the pot. Could also take a look at how what's there already is allocated, e.g. the foreign aid budget.

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Post by TopHat24/7 on Mon 24 Nov 2014, 1:19 pm

superflyweight wrote:
Toppy - Labour didn't cause the last recession and it wouldn't have been any different under any other government so attempts at political point scoring seem to be redundant.  

There was an element of flippancy to my point, however that's not to say Labour didn't make some major errors in its handling of the public finances which did indeed exascerbate the problems faced. A lot of which had to with tax & spend policy, in particular the tactic of just throwing money at any and every problem rather than trying to actually solve said problem - resulting in structural difficulties that couldn't be rectified overnight when the sh!t hit the fan. As the great Warren Buffet said "Only when the tide goes out do you discover who's been swimming naked." - that tide was the Recession and it exposed Labour's failings (10s of thousands of 'degree educated' unemployed youngsters being a continuing example).

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Post by TRUSSMAN66 on Mon 24 Nov 2014, 2:36 pm

I remember Northern rock............I remember the Tories not wanting them bailed out..

I also remember the 2012 budget.......... Laugh

The gift that keeps on giving..

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Post by TopHat24/7 on Mon 24 Nov 2014, 3:01 pm

Labour's welfare & immigration policies are the ones that keep giving, or should it be taking away.

I would have thought must people would have preferred a stance AGAINST 'too big to fail' actually.

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Post by TRUSSMAN66 on Mon 24 Nov 2014, 3:03 pm

We won't agree and it's fairplay..

You think Labour benefit from ditching Mili and replacing him maybe with a Burnham ?

Or you think it's too late ??

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Post by TopHat24/7 on Mon 24 Nov 2014, 3:45 pm

Tbh, I think Tories' image is so toxic it almost doesn't matter (sadly) who the Labour leader is! Would've backed David M to take it at a canter.

There was rumour of a push for Alan Johnson to replace Ed, could work. I'd like to see Labour make more use of both Lammy & Umunna, though don't see either carrying a leadership challenge.

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Post by TRUSSMAN66 on Mon 24 Nov 2014, 3:53 pm

Umunna is pretty toxic to the membership apparently........They think he's a chancer like Blair....But I like him he's more in the center and that's where Labour need to be.....

Thinking the Tories may snatch a majority myself or just fall short..........

If it's the latter Cameron will be gone by 2017............No patience on the Tory right for another coalition.

Stella Creasy and De Piero need promoting...............Cooper is just awful !

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Post by Derbymanc on Wed 26 Nov 2014, 4:49 am

WTF is going on??? have I awakened in some kind of alternative 606 universe where you 2 are best buddies Hug

Just kidding btw it's good to see everyone getting along.

I fear a lot of policies seem to be knee jerk reactions these days and noone thinks things through properly (extra room tax being a prime example, good idea on paper, implementation was/is absolute pants.)

You both make good points regarding the mansion tax but I do feel that the very high earners need to be helping out a bit more to balance the scales. I'd also be in favour of certain benefits being taken off high earners and distributed between the poorer of our society (particulatly looking at the older generations heating rebate.)

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Post by TopHat24/7 on Wed 26 Nov 2014, 9:34 am

Hahaha nah, we still disagree, a lot, but I think we'd all prefer to keep off topic/N&CA going so we're making a concerted effort not to get to heated.... Smile

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Post by TopHat24/7 on Wed 26 Nov 2014, 10:22 am

Good points though, Derby.

Agree with taking benefits away from higher earners (providing they are redistributed). I supported Torie's removal of child benefit from top rater tax payers. Would like to see heating allowance etc means tested too - assume both my folks get it despite being 66 & 63 and both on pretty solid public sector pensions.

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Post by TRUSSMAN66 on Wed 26 Nov 2014, 1:09 pm

I think any kind of means testing is deplorable...

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Post by TopHat24/7 on Wed 26 Nov 2014, 1:43 pm

So you think a rich kid should get the same student loan as a poor kid?

That a millionaire should get a discount on their heating bill just because they're 65??

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Post by Derbymanc on Wed 26 Nov 2014, 2:40 pm

I don't really understand Means testing to be honest, as far as I can gather it's an average wage thing which I don't mind. If someone is earning well over the average then I don't see why certain benefits can't be redistributed better.


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Post by TRUSSMAN66 on Wed 26 Nov 2014, 3:16 pm

TopHat24/7 wrote:So you think a rich kid should get the same student loan as a poor kid?

That's not why I said.......Now is it ???

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