Comments by "Aden Wellsmith" (@adenwellsmith6908) on "We don’t need a wealth tax, yet" video.

Still waiting Richard for why Civil service pension debts, like other state pension debts are off the books? You're an accountant. Why are they not on the balance sheet?
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@Redf322 Lets take that one example. The socialist welfare state. All the contributions redistributed. None invested. So its a socialist not a capiltalist issue. So what issues does that cause? 1. 30 Gross Profit margin, by the state. That's correct. That's the profit the state makes on services. It has to in order to pay the debts. 2. Wealth inequality. Mr Average loses over 2 million compared to what he would have had, if his wealth had been invested. That's his life time loss. Mr 38.5K a year has lost. 3. Lack of investment. There is none 4. Poverty. The state pension is being destroyed pushing more into poverty. But remember, Richard, an accountant, won't tell you how big those pension debts are. Strange one that.
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The Kier Starmer QC tax avoidance law. Not ever Sunak had a personalised tax evasion law.
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Tax the public sector. Tax solves everything Like Stamer and his personal tax avoidace law.
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@Vroomfondle1066 The reason that Richard won't answer is becaue £16 trillion of debt is a disaster. People would go after socialists for the mess. They would go after the accountants. ===== The state can create money to cover pension liabilities - whether that causes inflation ===== MMT for you. So you print to pay. Prices double. What happens to teh £16 trillion debt? It's now £32 trillion. Infllation linked debt doesn't work the same way as fixed rate debts.
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@Vroomfondle1066 So lets put the other angle on it. If people had invested their NI, what would have happened? For Mr Avearge, 1.2 million in a fund. 35K income, fund not touched. So why don't we have a full audit, and everyone gets told what they have now, and what they could have had? Transparency and openness.
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@tancreddehauteville764 , they are liabilities that become payable when the individuals retire Liabilities are debts. Debts are liabilties. The reason is they are things that they owe. The borrowing, just like the pensions and other debts/liabilties are only paid when the conditions in the law/contract say they are paid. IFRS state that pensions are liabilities or debts. They appear on the balance sheet. Why would the state hide its liabilities off the balance sheet? I know. I'm interested as to why you think they do it? For example, gilts are a contract, civil service pensions a contract. Why omit one? They aren't going to pay the pensions.
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@tancreddehauteville764 There's always a test. Cancel the civil service pension. They aren't owed, its not a debt. Do you think that those with no pensions, will state they are owed a pension?
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@tancreddehauteville764 Do you have a definition of a debt and a liability? Not examples, the rules. IFRS has the rule that the state says it uses, but doesn't. If you want examples of debts/liabilities. 1. Borrowing 2. State pension 3. Civil service pension 4. Unpaid wages 5. Unpaid invoices 6. The EU 7. Expected losses on insurance contracts 8. Expected damages (Post office, NHS etc) 9. Nuclear clean up (paid up front, state pays for the work) 10. Expected losses on guarantees. Any reason why its just the bankers that are creditors?
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Where are the trillions the workers have paid the socialist welfare state for their old age?
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@stephfoxwell4620 So how big are the socialist welfare state's pension debts? Lets get the problems out there. How do the socialist pay the £16 trillion debt with no assets that they have created?
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@stephfoxwell4620 Socialism is just predation on a small number of people and the masses to enrich the socialist elite. Some animals are more equal than others
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@Redf322 For Mr Average a) 1.2 million in a fund, 35K a year in retirement, fund not touched. No share of the state's pension debts. b) 12K a year as a pension, no fund and a £600,000 share of state pension debts. Other debts on top. Do you go with the capitalist option a, or the socialist option b? Silly question, you're a peasant, you get b
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@tancreddehauteville764 They take home 800K. They are rich. They will end up wealthy. However, back to the basics. 1. Why has multimillionaire Starmer got a law just so he can evade tax? 2. This tax weatlh idea as the solution. How big are the pension debts run up by the DWP? You need to know that number because its one of the problems. Then you can see if your solution is a fix.
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@tancreddehauteville764 Also, isn't it very patriachal, that the left say that his wife's money is his money.
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