Politics Thread!

[tufty]

Depending on how you've placed your money (and again, this is a win for the rich, who can afford to put money away in longer term investments), savings /should/ outperform the CPI, which is to say that yes, your savings in the bank /should/ be making money for you. This was the case until the turn of the century. That has not been the case recently, however, as inflation has risen faster than bank rates (which, in the UK, are based on the BoE base rate) since then. This coincides with Gordon Brown giving control of the base rate to the Bank of England. Yes, Gordon's big fiscal miracle fucked savers over for decades.

But if you're rich, it doesn't matter. Your placements comfortably outperform such piddly concerns as "inflation".

[snaff]

A millionaire pays the same amount of tax as someone earning the national average, without having to lift a finger.

That would be nice if it were true. Unfortunately, having a million puts you into the bracket where not only do your investments make far more money than you or I if we put our money in the bank, but also it puts you in the bracket where tax on that income can be very easily evaded no avoided no "optimised away".

And mere millionaires are nothing. Billionaires pay far less.

No ordinary saver has to pay much tax on their savings - put your money in a SIPP and you get your income tax back - your 20% tax automatically within about 6 weeks, and your 40% tax you reclaim on your self assessment. It's trivial to do. Then no income or capital gains tax on those investments.

Then on non-pension savings you can put up to 20k per year into an ISA, again with no income or capital gains tax on your investments.

[tufty]

No ordinary saver has to pay much tax on their savings

Nobody was saying they do. What was said was that if you've got a million, you can "earn" the equivalent of an average income simply sitting on your arse watching your money sit in a bank account.

[snaff]

No ordinary saver has to pay much tax on their savings

Nobody was saying they do. What was said was that if you've got a million, you can "earn" the equivalent of an average income simply sitting on your arse watching your money sit in a bank account.

What, they're supposed to lend it to you for free?

[snaff]

No ordinary saver has to pay much tax on their savings

Nobody was saying they do. What was said was that if you've got a million, you can "earn" the equivalent of an average income simply sitting on your arse watching your money sit in a bank account.

You don't need to be a millionaire to earn enough to live on.

Start with nothing, earn average wage take-home £30k per year, live frugally £15k per year. Put £15k into an ISA.

ISA invest simple global index fund averaging inflation + 7% return compounding.

After 10 years you've got £214k earning 7% pays you your £15k to live on and you can quit work and do nothing, or start taking risks with your career or business and your prosperity and life satisfaction really multiplies.

[tufty]

I'll just point out that in most cities in the UK, where you'll need to be to earn 30K, you'll be lucky to pay less than 15K in rent alone.

[zip accident]

https://yro.slashdot.org/story/25/12/10 ... roman-font

Serifs are Republian. san-serif fonts are communist.

[snaff]

I'll just point out that in most cities in the UK, where you'll need to be to earn 30K, you'll be lucky to pay less than 15K in rent alone.

South-east £500/m HMO including bills. Don't live in a luxury mansion while you're building your base.

[tufty]

I'll just point out that in most cities in the UK, where you'll need to be to earn 30K, you'll be lucky to pay less than 15K in rent alone.

South-east £500/m HMO including bills. Don't live in a luxury mansion while you're building your base.

South-east *where*? 25 years ago I was paying over 900/month in London for something which was very far from being a luxury mansion. According to the government, the average rental price in England is over 1400 per month, and for the South East excluding London is still well over 1300. So while I'm not saying your prices are bullshit, I'm saying I can't find anything much in that price range.

[F-ZeroOne]

Well, this will help the US tourism industry, which has been flagging a bit for some completely unknowable reason:

https://www.bbc.co.uk/news/articles/c1dz0g2ykpeo

[snaff]

I'll just point out that in most cities in the UK, where you'll need to be to earn 30K, you'll be lucky to pay less than 15K in rent alone.

South-east £500/m HMO including bills. Don't live in a luxury mansion while you're building your base.

South-east *where*? 25 years ago I was paying over 900/month in London for something which was very far from being a luxury mansion. According to the government, the average rental price in England is over 1400 per month, and for the South East excluding London is still well over 1300. So while I'm not saying your prices are bullshit, I'm saying I can't find anything much in that price range.

25 years ago I was paying £300 per month in a place 1 hour commutable to London.

Rightmove search for Kent rentals £500 to £600 finds plenty HMOs.

https://www.rightmove.co.uk/property-to ... xPrice=600

Don't look at average prices. You live in an average house after you've made your million.

[F-ZeroOne]

The Reiners deaths appear to show that there actually is a line, and Trump crossed it in just about the crassest fashion imaginable:

https://www.bbc.co.uk/news/articles/c7413d9xvkeo

[F-ZeroOne]

Boy, whoever is next is going to have to hire quite the skip:

https://www.theguardian.com/us-news/202 ... lk-of-fame

[PFVA]

There we go again.

All over in the news:

President Donald Trump on Sunday, Dec. 21, announced he is appointing Louisiana Gov. Jeff Landry as the special envoy to Greenland.

"Jeff understands how essential Greenland is to our National Security, and will strongly advance our Country’s Interests for the Safety, Security, and Survival of our Allies, and indeed, the World," Trump wrote in a post on Truth Social.

[F-ZeroOne]

Who will protect us from them, though?!