[Politics] Are baby boomers taxed enough?

[A1X]

Isn’t this just an elaborate poll asking “are you a boomer”?

 

[Questions]

Baby Boomers is now in my search history

 

[Harry Wilson's tackle]

Damn. I forgot the holidays abroad. I didn't catch my first plane till I was 35!

23. When I flew to Canada to do my PhD. Didn't fly again for another 2 years. No facetime with family then, either.

I think it may be time for this:

 

[Deportivo Seagull]

I strongly believe you are entitled to your opinion. I agree that there are, in some parts of the country a number of elderly people whose views I do not share.

You seem to say you are not significantly different to the majority of us so-called boomers, but then say the majority are "twats". Doesn't make a lot of sense unless you're saying you're a "twat"....which I dont think you are.

And whatever role you played inthe "Services", I personally thank you for giving the comfort of protection in an ever changing and by some people...a more violent world.

Me a Twat? Yeah most probably.

 

[Weststander]

That's not really fair though, is it.

Surely the young people who work hard deserve the opportunities that boomers regard as normal - such as home ownership, or decent pensions - rather than just those lucky enough to have parents who are well off.

Countless millions already retired have zero pension beyond the state pension, huge numbers rent privately or from a LA/housing provider or own very modest homes up and down the land with equity release.

You’ve fallen into the propaganda trap created by malevolent stirrers in picturing over 55’s as having fantastic pensions and equity, whilst those under 40 have no hope. I know many folk chiselling an existence on the state pension.

 

[Barnet Seagull]

Everyone should pay less tax. BUT, the tax base should be a lot larger. I think there is a massive argument for an automated payment transcation tax but there is very little chance it'll ever happen in this country unfortunately so long as the ultra wealthy protect their wealth. The more volume you transact, the more tax you pay - seems inherently simple, fair and no one is taking anything of "yours" away.

Automated Payment Transaction tax - Wikipedia

en.wikipedia.org

Now if you then use that tax to provide a universal basic income in addition to services, life would be better for everyone.

I would genuinely love to see that in my lifetime.

 

[Colonel Mustard]

This post is the epitome of the insufferable boomer generation that has absolutely no sympathy for the struggles of younger people.

Not only do you want to hoard your wealth from the young who are so desperate - you would love to take away their freedom of speech speaking up about the issue as well.

"The pitchforks are coming" is a term originated by a tech billionaire when describing how the unfair distribution of wealth will result in civil unrest - I'm not literally encouraging people to come to your home with pitchforks you absolute GOON.

Oh FFS. Are you for real? Or just pissed?

 

[Harry Wilson's tackle]

Everyone should pay less tax. BUT, the tax base should be a lot larger. I think there is a massive argument for an automated payment transcation tax but there is very little chance it'll ever happen in this country unfortunately so long as the ultra wealthy protect their wealth. The more volume you transact, the more tax you pay - seems inherently simple, fair and no one is taking anything of "yours" away.

Automated Payment Transaction tax - Wikipedia

en.wikipedia.org

Now if you then use that tax to provide a universal basic income in addition to services, life would be better for everyone.

I would genuinely love to see that in my lifetime.

I have said it before....income tax, flat rate (%) for all. Easy to collect, adjust and fair.

The objection is that if you earn £100 and pay £10 in tax you keep £90, whereas if you earn £1000 and pay £100 in tax you keep £900. And that ain't fair.

But it is. BEACAUSE YOU EARNED IT!

And if you earn more you pay more tax (in £) IN PROPORTION TO WHAT YOU EARN.

Never will I ever back down over this when people proffer false mathematics at me. Fake numbers. Bullshit. Far Cough!

(There is some wriggle room over tax start threshold, but a lot of that would become a non issue if the lower paid were paid more. And they should be)

 

[Wardy's twin]

Boomer here. I have no issue paying more tax as long as the money is spent on improving the NHS or similar. I do think the blunt instrument of just increasing interest rates should have been accompanied by tax increases. A lot of families squeezed horrendously but a lot of people with lots of money who don't have to borrow and indeed with more money to spend as interest rate income has increased.

 

[DavidinSouthampton]

From each according to his means, to each accord to his needs….. ( or her in both instances.)

I’m a baby boomer and I could afford to pay more. I/we are old but not rich.

there are plenty of people around who could easily afford to pay a lot more tax than me, some of them politicians who want to keep taxes low……. mentioning no names…….

 

[Coldeanseagull]

Not quite sure I've got this right.
I s'pose I'm a boomer, left school at 16, worked non stop for nigh on 50 years...often with two or three shit jobs at a time to pay my bills/mortgage/leisure activities. Now I'm all paid up and not working, it's being intimated I should give some of my hard earned readies to the great unwashed?
Jog on Bambi

 

[nicko31]

Countless millions already retired have zero pension beyond the state pension, huge numbers rent privately or from a LA/housing provider or own very modest homes up and down the land with equity release.

You’ve fallen into the propaganda trap created by malevolent stirrers in picturing over 55’s as having fantastic pensions and equity, whilst those under 40 have no hope. I know many folk chiselling an existence on the state pension.

Generation Xers are going to be a lot worse off than boomers in retirement, in the private sector you need to stashing away 20 percent plus of your salary to have a reasonable retirement. Very few can do that.

Boomers generally have had so many things good. But it wasn’t good enough so in 2016 they gambled it all on their kids and grandkids futures. Mostly a pretty selfish bunch

 

[The Antikythera Mechanism]

What the twats that start these threads fail to take account of is the absolute hell that the parents and families of these so called boomers had to go through in WW2. None of these Gen A to Z whatever’s have any conception of what it’s like to be at war and have family members dying as a result, not to mention living under the constant and real threat of nuclear annihilation.

 

[beorhthelm]

The results of this poll are indicative of why young people are in this hopeless mess.

Simply, the boomers vote, and will never give up their undeserved acquired wealth if they can help it.

The pitchforks are coming though. It's worth finding a solution democratically before things start to get ugly.

that aquired wealth is savings, pensions and property. you want to steal that? what gets me is the naive assumption they didn't go through any sort of hardships, as if there weren't high inflation, recessions, high salary multiple mortgages. many simply have some savings, or bought a good house because they didn't spend every penny earnt on fancy coffee and multiple weekend breaks a year. f***'em though eh, because you want that and the cheap house

Do you really think most of Gen Z will have any kind of wealth in 30 years time?

of course they will, because they'll work, have savings, build pensions and have property. and they'll be inheriting all the boomer savings and property.

 

[Mustafa II]

What the twats that start these threads fail to take account of is the absolute hell that the parents and families of these so called boomers had to go through in WW2. None of these Gen A to Z whatever’s have any conception of what it’s like to be at war and have family members dying as a result, not to mention living under the constant and real threat of nuclear annihilation.

Yep, OK boomer.

Boomer parents had WW2. Therefore deserve much wealth.

Young people has boomers as parents. Therefore deserve f*** all.

 

[Weststander]

I have said it before....income tax, flat rate (%) for all. Easy to collect, adjust and fair.

The objection is that if you earn £100 and pay £10 in tax you keep £90, whereas if you earn £1000 and pay £100 in tax you keep £900. And that ain't fair.

But it is. BEACAUSE YOU EARNED IT!

And if you earn more you pay more tax (in £) IN PROPORTION TO WHAT YOU EARN.

Never will I ever back down over this when people proffer false mathematics at me. Fake numbers. Bullshit. Far Cough!

(There is some wriggle room over tax start threshold, but a lot of that would become a non issue if the lower paid were paid more. And they should be)

I’ve always agreed with you on this. No national insurance too, greatly simplifying things …. it’s never gone into a separate fund. Income tax would become the record for benefits and state pension.

A personal allowance of say £15k, then just one income tax rate significantly higher than 20%.

Overnight it would end all the tax planning/avoidance/evasion that is driven by key tax band thresholds eg £50,270 and £100,000. Hard work or enterprise wouldn’t be disincentivised by going over a punitive threshold. Other forms of income such as from BTL’s which currently avoid national insurance, would face the same higher income tax rate.

 

[beorhthelm]

I’d like to see inheritance tax loopholes closed, just too many ways around it for the rich to avoid

just get rid of it, tax recipients a flat 20% as income. loopholes are there to avoid obvious unfairness or detremental outcomes - you want a farm or business to be sold off or closed to cover inheritance, leading to loss of jobs and so on? if we treated as income at a modest rate, most wouldnt go to any lengths to avoid.

 

[cjd]

Yep, OK boomer.

Parent had WW2. Therefore deserve much wealth.

Young people has boomers as parents. Therefore deserve f*** all.

Look...you appear to be one of lifes failures. I don't know if that is your fault...or maybe your parents fault...?

But I'm quite certain that your constant noseyness and thread starting o this forum wont help you. Not a bit..!

I think for your own sake, it would be better if members ignored your nosey polls ( which always have an ulterior motive ), and you spent less time on NSC and maybe a bit more time being productive , instead of veiled threats of horrific violence to many in the community.

 

[Cheshire Cat]

Yep, OK boomer.

Boomer parents had WW2. Therefore deserve much wealth.

Young people has boomers as parents. Therefore deserve f*** all.

Too right.

Bloody children - always complaining and sponging off their parents.

 

[Iggle Piggle]

It's not even a debate that the next generations are getting a worse deal. Tuition fees, grants, prescription fees, house prices, final salary pensions, NHS dentists. Poor sods will probably never retire. The population is ageing and its a massive problem.

I've no malice against anyone that was lucky enough to have those advantages I've listed above - I've had some and more myself - but the inability of some to even recognise that a typical Gen Z will never have the luxuries in old age is a bugbear of mine. Even on this thread people talk about "saving for a deposit" as if 30 grand and rent at the same time is a piece of piss if you cancel Netflix.