Comments by "Aden Wellsmith" (@adenwellsmith6908) on "You have to tax wealth to grow an economy" video.

Lets look at unproductive wealth. One of the biggest is Richard Murphy's pension. Massive debt = massive wealth for him. It's not doing anything. Lets tax it now. Richard has to find the cash, pay a 30% tax on that couple of million that is his pension. We can then piss it up the wall by spending it. Most other people of course put their money into funds that actually grow the wealth so you need to leave that alone.
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@stephfoxwell4620 The wealth of Richard, is pilled up, one of the things it does is produce austerity. It's completely unproductive. It's in fact negative. But Richard wants to tax the productive wealth. Lets take one example Dyson. [Not that he's in the UK anymore]. Lots of wealth, but its productive wealth producing jobs sales and other taxes. Richards pension does none of that. Why not a 30% tax on it? He pays that tax now. He can borrow it. That money raised can now be spent by the state on anything.
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@gio-oz8gf So come on. The civil service pension. I've said no assets. You say that's wrong. That's easy for you to show by posting a reference to the assets that they hold. Notice Civil Servants not LGAs. That's another ball game which if you want we can move onto after you post the asset reference. Of course you won't. It's an unfunded pension scheme. Zero assets, just debts.
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Richard is after your house, because its an "unproductive asset".
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@gio-oz8gf Which pension fund do you know of that doesn't invest its funds ======== The civil service pension "fund" for starters. Notice that he has no cap on his pension. He's immune from tax relief on his pension contributions. Why do you think he's proposing more tax for other people, not him? So his pension is an asset. It's unproductive. Lets tax it 30% now.
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Instead of redistributing 20% of the workers income, have them invest it, and own it. They then accumulate the wealth.
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A far better approach, instead of asset stripping the workers of 20% of their income, get that 20% into a fund, owned by the worker. Those investments then grow the economy, fix wealth inequality. But there's a problem. Those hidden debts, that consume 30% of all taxes.
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@jamesjefferies3762 Can you pay £600,000 of debt rising at £60,000 a year? If you and all other taxpayer's don't hand over that money, Granny gets no pension. So austerity, he's caused it. Lack of investment, he's caused it. Pensioner poverty, low take home pay, he's cause it. It's his policies that have created the mess. So in this case, his wealth, that pension. It's unproductive. It generates no income, no growth. It does the opposite. So why not tax his pension? That money can then be spent by the state. Won't be productive, but its in the economy,
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@keithparker1346 Do you think austerity is good thing? I think its bad. Wealth inequality. I think that's bad too. Lack of investment. That's bad. Pensioner poverty. Bad again Fraud. That's a crime. Not a good thing. Look take home pay. Bad Cost of living crisis. Bad. Why are you a fan of those things? You find it strange I don't like it.
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@gio-oz8gf I've give you a challenge. In 25 mins the BoE and the DMO opens their doors. The amount that's been borrowed by the government will be £2,480.83 billion at the start of the day. That's what they had on the books, close of business yesterday. If you want to check, its the Gilts in Issue report on the DMO website, if you know who they are. So that's part of the debt. How big are those unproductive debts, Richard's pension. I'm sure he says its an asset and he's owed the pension. That's what I think too. His asset, the tax payers are liable. How big are the civil service pension liabilities? Prove me wrong. Post the current number and a reference to check. Like I've' done above.
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@detritiv0re144 Contribute? No cash. He provides accountancy for the state. That's his side of the deal.
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@abody499 You're talking capitalist pensions. Shares, assets are the two big categories. The other is lent to the state. So unless you are claiming that the government is unproductive, its all productive. But I'm taking about Richard's Civil Service pension. For him that's a massive asset. But since there's no assets to back it, that asset is completely unproductive. Zilch. So lets follow his logic, we take the trillions that are those unproductive assets. 30%. Civil servants have to pay that tax now. For some reason I suspect he objects when his policies target him.
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@abody499 Richard is an ex HMRC employee. Civil service pension is that big asset of his that is completely unproductive. Not invested in the economy. So lets tax that 30%. You asked which fund didn't invest. You seem to be struggling to say, OK the civil service pension scheme has no assets. The state pension scheme has no assets. Any reason why you can't admit it?
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@abody499 Come on. How big are those pension debts and why are they hidden? Richard won't say and neither will you.
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@abody499 On the bad faith. I've repeated pointed out why its not bad faith. here are the debts 1. Borrowing 2. Civil service pension 3. State pension 4. Nuclear clean up 5. Losses on insurance contracts 6. The EU 7. Unpaid wages 8. Unpaid invoices 9. Expected payouts - eg post office, NHS damages. The consequences of those debts are really evil Pensioner poverty Lack of investment Low take home pay Austerity Wealth inequality Lack of growth. Now the question of bad faith. It's very clear that the big debts, pensions causes the mess. Even 9, publicly owned organisations have caused the mess You want more of the policies that have created the mess. So you have a problem. What do you do? You won't discuss the problems and their causes. Those policies are the ones that Richard demands. Tax his pension 100%. Lets see if he likes his policies when they target him. He has to stump up the money now.
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@abody499 Does the civil service pension scheme have assets? Does the state pension scheme have real assets?
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@abody499 So I'm asking you a simple question. Where are the trillions of pounds of wealth the workers have given the welfare state? On Richard, I have major concerns about his students. Liabilites are lesson 101 in accounting Richard for some reason won't discuss why those debts are hidden off the books. The left won't because they, like you, know its a disaster.
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So where is the 20% the workers have paid the socialist welfare state? In reality the workers are subsidising the cheap servants of the elite because migrants aren't earning enough to cover the costs.
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@WarrenPeaceOG Correct on the tax [and fines] give value to fiat currency. Wrong on the second. Those investments have to produce a return. That means cuts in spending or produce an income to pay the borrowing . Which government investments do that? The problem is debts. Debts work in the opposite way to a true investment. How big are the pension debts for example? They are inflation linked so you have to tax your way out. See your first point. That means for inflation linked debts its just like a household.
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@WarrenPeaceOG It's spending. I know that. Lets look at investment in education. The average product of the state education system is a liability. They don't generate the money to fund the state. I know what the game is. Claim its an investment not spending. That spins it as good. So back to the basics, that the left can't answer. Investment good means debt is bad. How big are the pension debts? Since richard's asset, his pension, generates no income. Is not invested. It's an unused 'asset'. Why not tax it 30% now? That's his argument. Will he apply it to himself.
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@WarrenPeaceOG So in the 'investment side'. We know what the contaminated blood has done to people. A small number, 30,000. Lots killed. Even more maimed. If you do your research, the BMJ puts the annual death toll, just in acute hospitals, at 20,000 a year for avoidable deaths. Where does that appear on your analysis?
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