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Finance thread 2022.


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31 minutes ago, Stive Pesley said:

That's the spirit!

*and also coincidentally exactly what the super rich want the ordinary man to keep thinking...

Nothing to do with the super rich it’s just a historical fact which for some bizarre reason people choose to ignore.
Rich land owners in Zimbabwe had land redistributed to the poor now they are producing gold coins because their economy has collapsed due to hyper inflation.

Be careful what you wish for because your dreams could become a nightmare.

https://www.aljazeera.com/amp/news/2022/7/26/zimbabwe-launches-gold-coins-to-stem-inflation

Edited by cstand
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2 minutes ago, GboroRam said:

Can I just check, then, that those people who are opposed to taxing those earning over £150k are happy that our train drivers can be on a mere £60-65k per year? I mean, it's not even a high pay rate. Nowhere near the top tax band.

£60 to £65 k seems a pretty good wage for sitting on your bum all day .. you don't even have to steer the train or anything. 

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15 minutes ago, PistoldPete said:

£60 to £65 k seems a pretty good wage for sitting on your bum all day .. you don't even have to steer the train or anything. 

I'll let you into a little secret - the people on more than £150k per year aren't lifting hods of bricks all day long.

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21 minutes ago, GboroRam said:

I'll let you into a little secret - the people on more than £150k per year aren't lifting hods of bricks all day long.

I know a few of them.. City lawyers , bankers, they work long hours and have stressful jobs. i don't envy them tbh. 

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3 minutes ago, PistoldPete said:

I know a few of them.. City lawyers , bankers, they work long hours and have stressful jobs. i don't envy them tbh. 

Can you please explain how allowing them to retain more of their salary/bonus is going to benefit someone on a low wage?

Trickle-down economics was discredited 30 years ago, yet some deluded people still defend it.

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49 minutes ago, cstand said:

Nothing to do with the super rich it’s just a historical fact which for some bizarre reason people choose to ignore.
Rich land owners in Zimbabwe had land redistributed to the poor now they are producing gold coins because their economy has collapsed due to hyper inflation.

Be careful what you wish for because your dreams could become a nightmare.

https://www.aljazeera.com/amp/news/2022/7/26/zimbabwe-launches-gold-coins-to-stem-inflation

Goodness me, you're right

It's a good job we haven't done anything to address inequality in this country.

The last thing we want is an unstable currency, rampant inflation, and a corrupt government that no one trusts, with a central bank having to take draconian measures to prop up the economy to prevent collapse

 ?

 

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33 minutes ago, Stive Pesley said:

Goodness me, you're right

It's a good job we haven't done anything to address inequality in this country.

The last thing we want is an unstable currency, rampant inflation, and a corrupt government that no one trusts, with a central bank having to take draconian measures to prop up the economy to prevent collapse

 ?

 

All fiat currencies eventually fail because people believe it will never fail and by the time the reality hits home nothing will stop the inevitable.

Look how many people believe in MMT!

Ok the video is about the USA but same applies here.

Inflation is here to stay unless we take drastic action but this will never happen it will only get worse.

Invest in gold whilst it still cheap.

Edited by cstand
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2 hours ago, PistoldPete said:

£60 to £65 k seems a pretty good wage for sitting on your bum all day .. you don't even have to steer the train or anything. 

Don't have to steer a plane either but there's no calling pilots overpaid when in some cases they're responsible for less lives.

Anyway my money saving tip is:

Tinned sardines. Man they're so good and cost like 30p a can. Stick em on toast, rice, pasta...

Excellent poor man's lunch.

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20 minutes ago, JoetheRam said:

Don't have to steer a plane either but there's no calling pilots overpaid when in some cases they're responsible for less lives.

Anyway my money saving tip is:

Tinned sardines. Man they're so good and cost like 30p a can. Stick em on toast, rice, pasta...

Excellent poor man's lunch.

Sardines are good for you too, although not so sure about the tinned variety.

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2 hours ago, Eddie said:

Can you please explain how allowing them to retain more of their salary/bonus is going to benefit someone on a low wage?

Trickle-down economics was discredited 30 years ago, yet some deluded people still defend it.

I didn't mention trickle down economics that's a strawman argument from you Eddie. I suggest you reread my posts, and you will see all I have said is having a higher marginal rate of tax is counterproductive as ultimately it doesn't capture any additional tax.   You simply reduce the incentives for people to work, leading to lower growth in the economy... so you are getting a higher rate, but  applied to a lower base figure.      

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2 minutes ago, PistoldPete said:

They are working  very short hours at the moment and even when not on strike they work shorter hours than I normally do and I am a lazy barsteward.  

And can end up finishing work far from home. 

I find the cognitive dissonance hard to understand. If you get a good manual job, with a strong union defending your working conditions, people take exception to a good but not outrageous pay rate. If you become a spiv stock market speculator you can fill your boots and its just jealousy if anyone suggests that you pay a slightly raised tax on the pay you receive waay way above the usual person's income level.

That's not "half your income" no matter what people say on this thread. 

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Just now, GboroRam said:

And can end up finishing work far from home. 

I find the cognitive dissonance hard to understand. If you get a good manual job, with a strong union defending your working conditions, people take exception to a good but not outrageous pay rate. If you become a spiv stock market speculator you can fill your boots and its just jealousy if anyone suggests that you pay a slightly raised tax on the pay you receive waay way above the usual person's income level.

That's not "half your income" no matter what people say on this thread. 

Train drivers also have to keep updated on rules and regs , complex exam to get the job. 
Have to know the routes like the back of their hands. 
If I recall correctly there was a train driver on the Popside forum who had someone commit suicide by jumping in front of his train. 
That must be horrendous ? worth every penny they are paid imho 

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