Comments by "Aden Wellsmith" (@adenwellsmith6908) on "Welfare for wealthy people" video.

  1. Correct. They paid in the most. Murphy was a tax man, took the money. He then hid the debt off the books. Now that ponzi is due and he thinks, who else can we target to pay so I get my fat cat pension.
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  2.  @jodders619  Crap. Post your evidence.
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  3.  @johnmulligan912  So post some of these sources. The evidence the other way is too look at tax receipts. Compare income tax against inheritance tax. It shows that inheritance tax is small, compared to earned wealth. The whole of government accounts says you are wrong. Income tax takes £374 bn a year. That's each year for a 50 year working life. You have VAT and other indirect taxes for an entire life at 365.3 bn For an entire life, inheritance tax comes to 7.2 bn a year. It's not inherited wealth. Inheirted wealth is just Murphy and co getting scared that their multi million pound pensions won't be paid.
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  4. Exactly. You have been ripped off. Now along comes a fat cat on a huge final salary pension. We are talking pensions worth in the millions, demanding that someone else pays so he doesn't. He was deep in the system that ripped you and I off, and now he demands more of the same. Ask Mr Accountant Murphy why the socialist pension debts, including his huge pension are not reported in the accounts.
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  5.  @BlueInk912  UK state takes 45-50% and the services are crap. Lithuania takes 20%, and the services aren't. The public sector and the politicians are the problem. More of the problem isn't the solution. So lets start by axing Murphy's pension. Zero. Zilch. 100% taxation on that wealth.
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  6. Correct. Where's the wealth Murphy took as a tax man
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  7.  @julielarge6120  Oh he is. He's talking about his fat cat pension. He's demanding austerity for others so he gets paid.
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  8. Tax and no services. That's austerity. Richard Murphy demands more austerity. How about cancelling your Pension Richard? It's not a debt. It's not owed to you. Check the balance sheet. Civil servants haven't put it on the accounts.
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  9. So lets have a 38,500 minimum tax code on economic migrants. That deals with the cheap employers. The employers who state who will pick our cotton.
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  10.  @AdrianRouse-e1f  It will create price rises. The big one is a minimum tax code on migrants. That massively cuts the welfare bill. It cures the housing crisis. It raises wages for the poor brits. It even raises lots of money for the state and cuts the deficit. What's not to like unless you are of the slave owing mentality. Who will pick our cotton, serve our soy lattes, clean our toilets?
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  11.  @jerryorange6983  Exactly. To be more accurate. Its the very rich. The 0.01%. Even the 1% are screwed.
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  12. Except he leaves off the pension debts because they are a socialist hell.
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  13.  @johnmulligan912  It's not. Post the evidence. Even the Duke of Westminster, made more money than he inherited. The cause of wealth inequality is simple. It's the welfare state. It's taken 20% of people's hard earned income. None of that was invested. It was all redistributed . ie. Socialist policy. Now there's a pension debt and that's just negative wealth. The wealth has been looted by the state.
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  14. How do they grow wealth is the right question. They have to invest their surplus income. Into the stock markets. Long term that returns 6% in capital values and 3.25% in dividends. Over the same period inflation has averaged 6%. So next do they have surplus income and how much do they have? The answer is yes. Around 20% of their income is surplus income. That's their NI contributions. 20% of income. If you look at the NI Fund accounts close to 100% of that goes on the state's pension debts. ie. To someone else. None goes on their services. So they are generating surplus income. So lets have that 20% invested, in a fund, that they own, for their old age. If you throw on 7-8% for work place pensions on top that adds up. The second part. None of that should be taxed. No dividend tax that brown used to loot funds. No stamp duty. No income tax. No VAT. It all accumulates tax free. Then you can draw down in your old age. When you die, what's left goes to your heir's funds, tax free. The poor die younger, so they get to benefit. For Mr Average, retiring at the end of last year, just investing his NI, the fund would have been worth 1,196,925.65. The income from that fund, 38,900.08 and that's just from dividends. The state offers no wealth, a paltry state pension and a share of its debts. the pensions debt along, including Murphy's fat cat pension means he has a 600,000 share of the debts. Borrowing on top. Debt is after all just negative wealth.
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