Originally posted by NoddY
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Reply to: Gordon secretly loves inflation
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Previously on "Gordon secretly loves inflation"
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Originally posted by wendigo100Inflation also had the opposite effect (the reverse of a tax) - it used to erode one's mortgage, the biggest purchase of many people's lives.
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Money has been too cheap for far too long. Realistically interest rates should be 8-10% by now
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Originally posted by milanbenesnot a lot of people know what I am about to tell you,
inflation is tax
Milan.
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Inflation also had the opposite effect (the reverse of a tax) - it used to erode one's mortgage, the biggest purchase of many people's lives.
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Originally posted by milanbenesinflation is tax
Milan.
I leave it as an exercise for the reader to determine which of these are more important for el Gordo.
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not a lot of people know what I am about to tell you,
inflation is tax
Milan.
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Gordon secretly loves inflation
"Gordon Brown has given savers the green-light to shelter more of their money from the taxman."
ISA limit up £200 to £7200, an increase of a whopping 2.8% since 1999.
If you use up the full £3600 cash ISA allowance then it means you can only invest £3600 in a stocks and shares ISA rather than £4000 as previously.
What a load of rubbish, it should have been raised to at least £8000 in total with a 4000 limit for cash, if not 9 or 10k in total with 5k in cash.
Its a common theme for all his policies, using inflation, especially house price inflation, to gradually erode peoples tax allowances in real terms.
It seems pointless to save anything much over the limits apart from your "lean times fund", anything else may as well go on mortgage overpayments rather than sitting in a taxed account being eaten away by inflation.Tags: None
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