Teddybare Posted June 1, 2012 Share Posted June 1, 2012 They are taxed. Just like any other businesses profits. They also pay: Tax on purchasing the property, search fees (+VAT), land registry fees (+VAT), estate agency fees/management agency fees (+VAT), legal fees (+VAT) for each property they buy, stamp duty on each property they buy, VAT on the furnishings and decoration they buy for each property, VAT on the white goods for each property they buy, VAT on the fuel and utilities for each property they own VAT on insurance ....... Do I really need to go on All the while, buying up all the affordable houses. It's immoral. I said taxed into submission. As landlords are still making between 10-20% return on their investments, that is not being taxed into submission. If taxing them to make the investment worthless does not work them a law should be passed where you have to live in the house you own. House prices would drop to affordable levels. People on low incomes could afford to buy. Link to comment Share on other sites More sharing options...
ECCOnoob Posted June 1, 2012 Share Posted June 1, 2012 Quick one found via google. (2005 FTR) similar today too/ Crack is. Our economy is based on debt, and some of these ratios remain pretty constant. But we now at crazy point. Houses worth too much, production too low. Money effectively worthless. New value system to aid trade required. Let me remind you a bit from your own quoted article The level of savings people hold has doubled during the past decade to be worth £960 billion at the end of last year, and Halifax predicts cash holdings will breach the £1 trillion barrier by the end of this year. Total financial savings, including cash, shares and pensions, are expected to be worth more than £4 trillion by the end of the 2007, three times more than the level of household debt. The value of these financial savings has risen by 84% during the past decade to be worth £3.846 trillion last year. Halifax said money held in savings accounts currently accounted for around a quarter of all financial savings. But it said the amount of financial wealth people held in deposit accounts was likely to increase due to the recent volatility in share prices. Read more: http://www.metro.co.uk/news/68053-house-prices-driving-british-wealth#ixzz1waWK7utG How is that "based on debt". Interestingly the article states that all this financial harmony in the households was all seemingly happening before and up to the end on 2007. Guess who took over as PM in 2007 and got us into the s*it we are in now. Yep you guessed it.... the wonderful Gordon Brown. hmmmm. Thanks Chem1st you have for once accidently discovered a point that's interesting. Shame for you its nothing to do with housing.... as usual Link to comment Share on other sites More sharing options...
ECCOnoob Posted June 1, 2012 Share Posted June 1, 2012 All the while, buying up all the affordable houses. It's immoral. I said taxed into submission. As landlords are still making between 10-20% return on their investments, that is not being taxed into submission. If taxing them to make the investment worthless does not work them a law should be passed where you have to live in the house you own. House prices would drop to affordable levels. People on low incomes could afford to buy. If they are so affordable why aren't people on low incomes already buying them then? hmmm? Go on....? Link to comment Share on other sites More sharing options...
chem1st Posted June 1, 2012 Share Posted June 1, 2012 OK OK. Im getting bored and tired. Let me try and cut through your mathematical equations from Planet Neptune and general BS. Are you basically saying that because young folk see minimum wage jobs as not enough to earn a deposit or live in a flat on their own two feet they simply arn't interested. Or...... in other words "im not getting out of bed for that" Aye, they have been priced out of making an honest living, having a few children and dying an honest death. They stopped working. But they won't lay down and die. The thing is though. They would be happy to work if they could have but a few of the fruits of their labour. (Technological advance means we can provide houses and food with but a few percent of the workforce). (The video I was encouraging cyclone to watch). If you have heard of the laffer curve, you will realise we can tax people up to 70%, yet today we attempt to do so at 100% and above! They receive no fruits for their labour. And they stop working en masse. Depression cometh. And the ensuing chaos leads to war, because people don't realise the problem is a LACK OF TRADE! Link to comment Share on other sites More sharing options...
chem1st Posted June 1, 2012 Share Posted June 1, 2012 Let me remind you a bit from your own quoted article The level of savings people hold has doubled during the past decade to be worth £960 billion at the end of last year, and Halifax predicts cash holdings will breach the £1 trillion barrier by the end of this year. Total financial savings, including cash, shares and pensions, are expected to be worth more than £4 trillion by the end of the 2007, three times more than the level of household debt. The value of these financial savings has risen by 84% during the past decade to be worth £3.846 trillion last year. Halifax said money held in savings accounts currently accounted for around a quarter of all financial savings. But it said the amount of financial wealth people held in deposit accounts was likely to increase due to the recent volatility in share prices. Read more: http://www.metro.co.uk/news/68053-house-prices-driving-british-wealth#ixzz1waWK7utG How is that "based on debt". Interestingly the article states that all this financial harmony in the households was all seemingly happening before and up to the end on 2007. Guess who took over as PM in 2007 and got us into the s*it we are in now. Yep you guessed it.... the wonderful Gordon Brown. hmmmm. Thanks Chem1st you have for once accidently discovered a point that's interesting. Shame for you its nothing to do with housing.... as usual and the money supply has risen even further in that time scale, and more QE cometh. 200% inflatin over a period of 7-15 years is priced in. But the housing market rose to a greater degree than the money supply! Link to comment Share on other sites More sharing options...
ECCOnoob Posted June 1, 2012 Share Posted June 1, 2012 If that were true there would be no young people in any generation who have worked hard and earned a roof over their head. They would all just sit there and think what's the point. BUT that's not how things are is it....... How come we have young people who do have a home with a mortgage, getting by and paying the bills. They didn't all have rich parents and they dont all work as bankers on six figure salaries. How come we have young people working, renting a property and getting by, some even manage to drive a car What are these miricle young people doing so different? Is it perhaps they realise you cant have everything straight away. Is it perhaps they realise you need to start at the bottom and work your way up to earn things. Is it because they realise that sometimes you need to spend very little (even perhaps struggle to get by for a for a few months) to save up to get something you want. That's what people do in the real world. Its hard. Its sometimes depressing but the ones who actually pull their finger out eventually get what they earn. They ones who cant be arsed and expect everything on a plate quite rightly dont. Link to comment Share on other sites More sharing options...
chem1st Posted June 2, 2012 Share Posted June 2, 2012 The collapse is happening before you eyes. Acknowledge it in due course, then consider the root of the problem. It can be averted. We need not descend into war. Link to comment Share on other sites More sharing options...
ECCOnoob Posted June 2, 2012 Share Posted June 2, 2012 *ding* *ding* Its button moon time. No more sensible conversation with Chem1st tonight. No more answers to your questions. Just stupid irrelevant comments. The smokes have hit his brain. End of conversation. Night night. Link to comment Share on other sites More sharing options...
bigsexydoug Posted June 2, 2012 Share Posted June 2, 2012 They are taxed. Just like any other businesses profits. They also pay: Tax on purchasing the property, search fees (+VAT), land registry fees (+VAT), estate agency fees/management agency fees (+VAT), legal fees (+VAT) for each property they buy, stamp duty on each property they buy, VAT on the furnishings and decoration they buy for each property, VAT on the white goods for each property they buy, VAT on the fuel and utilities for each property they own VAT on insurance ....... Do I really need to go on actually ecconoob who is paying all those taxes and vat ??? the landlords name "MAY" be on the actual bill but its the person that rents the property thats paying it ! unless of course your telling me there are now landlords going round losing money on purpose on the buy to let merry-go-round. Link to comment Share on other sites More sharing options...
bigjoker Posted June 2, 2012 Share Posted June 2, 2012 They are taxed. Just like any other businesses profits. They also pay: Tax on purchasing the property, search fees (+VAT), land registry fees (+VAT), estate agency fees/management agency fees (+VAT), legal fees (+VAT) for each property they buy, stamp duty on each property they buy, VAT on the furnishings and decoration they buy for each property, VAT on the white goods for each property they buy, VAT on the fuel and utilities for each property they own VAT on insurance ....... Do I really need to go on You seem to forget that a business can claim a refund of vat back. Link to comment Share on other sites More sharing options...
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