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jjeffery worboys
Garys Economics
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Comments by "jjeffery worboys" (@jjefferyworboys8138) on "Interest Rates u0026 House Prices - What's Going to Happen?" video.
Does it mean individuals or companies or both ? Most very rich rich hold their assets in companies for obvious reasons.
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Simple, he's more clever than you.
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It's a myth created by the left which appeals to the working class.
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Buying a home should never be seen as a short term commitment. It's a home first, investment second. Don't loose sight of the fact that there is a shortage of housing stock in the UK. Do you think house builders will be doing much in an uncertain market ?
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Net assets is very different from assets.
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The top 1% of earners pay @ one third of all income tax, the top 50% of earners pay 90% of all income tax. Guess who pays the least ?
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The very rich have the luxury of being able to live anywhere they choose. If the UK becomes unattractive because of high taxes they will simply go elsewhere and then the UK gets nothing. It's a very difficult balance to strike.
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You can't tax a rich person who decides it time to leave the UK and go to Monaco, Thats why it's easy to say tax the rich and very hard to do. The risk is that you will shoot yourself in the foot !
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I bet if you ask ten friends to define what makes someone rich you would get ten different answers and the disparities will be huge.
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The so called working class will hate that, they love It !
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Wealth is a very subjective term, easy to say very hard to quantify. Using your £100m figure, if a person owns property valued at £500m , but has borrowings of £410m, they are exempt. Whereas a person with unencumbered assets of £110m would be taxed ?
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Start by making Solicitors and Accountants illegal professions. Practically its almost impossible when you can afford to buy the very best professionals to protect your interests.
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There is this strange notion that working people can't also be rich, however you choose to define it ? The top 1% of earners pay @ one third of all income tax, the top 50% pay a massive 90% of all income tax !
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World peace would be far easier to achieve.
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Set at what level. £100m ? Most very rich people don't hold assets personally but in companies.
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Very rich people don't hold assets personally, but in companies, surely you know this ?
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Hardly surprising when it doesn't effect them ???????????????
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It's a myth created by the left to appeal to the working class. Asset prices, like property, have increased in value, but unless sold you haven't made an actual money just a paper profit.
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@schumanhuman Doesn't Stamp Duty do that very simply ?
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The availability of house will decrease over time. Only those that need to sell will, others won't move and house builders will just sit on the land until things improve. We all know what happens when demand exceeds supply !
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How do you tax someone who decides to move to another country? You can't !
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How does it makes you feel ? Im guessing its given you peace of mind and a very secure feeling. Well done, its absolutely the right thing for you and your family, sod anyone else.
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