Greedy boomers

[Lance]

But don't forget a good proportion of the younger populace expect inheritances from their boomer parents, and they will be (correctly) thinking exactly that about Corbyn & co.

So it's far from a foregone conclusion that everyone aged under, say, 50 will be rooting for Labour so they can get their hands on largesse redistributed from old timers if they have to share this with everyone else and in practice barely see a penny of it!

Which is why May will be gone before the next GE. She is an open goal for Corbyn.

I think it's fair to say though that my Mum/Dads generation suffered poverty that is rarely seen in the UK. So, perhaps it's good that society is giving them something back.

Quite.
It's not their fault.
And they vote. So the Tories keep rewarding them with winter fuel, generous pension increase, higher income tax allowance. However, If Corbyn can dress the wealth tax as something to not threaten the boomers' progeny then he might get in.

[fullyautomatix]

Have no fear, Corbyn is coming and he will be redistributing the "Boomers" wealth.

Erm, nope. He won't do anything like that. Have you got something to back that up ?

[BlasterBates]

Erm, nope. He won't do anything like that. Have you got something to back that up ?

"Land value tax" is just one example. Generally taxes will be going up.

[Lance]

"Land value tax" is just one example. Generally taxes will be going up.

The land value tax is an interesting idea. Not how Corbyn/McDonnel would do it though.

The idea being that capital outgrows labour (read Thomas Piketty). So rather than tax labour (income tax) you tax Capital. The simplest way to do this is taxing land.
But not on the value of the land as that would be horribly disruptive, but the unimproved value of the land. That would encourage landowners to make more money from it.
And free of income tax the whole economy benefits.

[BR14]

Which is why May will be gone before the next GE. She is an open goal for Corbyn.



Quite.
It's not their fault.
And they vote. So the Tories keep rewarding them with winter fuel, generous pension increase, higher income tax allowance. However, If Corbyn can dress the wealth tax as something to not threaten the boomers' progeny then he might get in.

so you can live on £159.55 per week then??

[Lance]

so you can live on £159.55 per week then??

I said the increase was generous.

[tarbera]

not counting

https://uk.finance.yahoo.com/news/ba...000100980.html

Baby boomers born between 1946 and 1966 are set to receive over 20% more in support than they will have contributed in taxes over the course of their lives, the report said.

not counting the Profits they have taken out buy buying up millions of council houses for buttons and selling for millions

** told the story before about the old chap in the pub that got his council house for £35K and sold for £1.4Million last year

[NotAllThere]

greedy...

Yes. Thank-you for defining the word. 2 marks for that. Now try to complete the argument.

• Explain why it applies to folk who have just happened to benefit from the policies of successive governments of all political persuasions. (3 marks).
• Explain what, if your greed hypothesis is true, those "greedy" people should have done instead. (5 marks).

Pass mark is 50%. Good luck.

[xoggoth]

Will things be better in 30 years time when these youngsters reach retirement age? I very much doubt it.

Maybe there is a problem with state funded support generally. Society is going in the wrong direction, too generous welfare, too much reliance on low cost unskilled employees who never pay their share of state expenditure. We need a low population, technology-based economy where only those who do what they reasonably can for themselves get help.

Unfortunately, there are no easy solutions. In a democracy governments are going to try and win support with expensive promises. If we didn't have a democracy the government would just be spending the money on themselves.

[PurpleGorilla]

Yes. Thank-you for defining the word. 2 marks for that. Now try to complete the argument.

• Explain why it applies to folk who have just happened to benefit from the policies of successive governments of all political persuasions. (3 marks).
• Explain what, if your greed hypothesis is true, those "greedy" people should have done instead. (5 marks).

Pass mark is 50%. Good luck.

Windfall tax