The end of the Labour party

[RonJeremy]

How on earth did you arrive at that?

 

The pension funds invest in businesses. This is the money they pay the pensioners with. The Government encourages this by giving tax breaks to those who provide for their own old age.

I'm very surprised you're not aware of this.

 

---------- Post added 13-09-2016 at 21:37 ----------

 

An awful lot of the privatised utilities and other former state assets are substantially in the hands of pension funds. Pension funds tend to be split between commodities, the safer stocks and government bonds to get a decent return whilst not really gaming with the bulk of the money. That's how it works.

 

Er. Thanks. Much more eloquently and thoroughly put.

[mickw]

An awful lot of the privatised utilities and other former state assets are substantially in the hands of pension funds. Pension funds tend to be split between commodities, the safer stocks and government bonds to get a decent return whilst not really gaming with the bulk of the money. That's how it works.

 

That's all well and good and I did know this

 

I referred to, of course, their personal riches.

 

Of which they are entitled as they have worked for it but it should be distributed more evenly.

[unbeliever]

 

I referred to, of course, their personal riches.

 

Of which they are entitled as they have worked for it but it should be distributed more evenly.

 

The second half of this sentence completely contradicts the first half.

[RonJeremy]

That's all well and good and I did know this

 

I referred to, of course, their personal riches.

 

Of which they are entitled as they have worked for it but it should be distributed more evenly.

 

Whose personal riches?

[mickw]

The second half of this sentence completely contradicts the first half.

 

Not at all.

 

No private individual should be able to acrue such wealth in a fair society.

 

---------- Post added 13-09-2016 at 21:56 ----------

 

Whose personal riches?

 

The aforementioned fat cats.

[unbeliever]

Not at all.

 

No private individual should be able to acrue such wealth in a fair society.

 

But you said they were entitled to it.

[mickw]

But you said they were entitled to it.

 

In a fair society we are entitled to gain reward for our efforts.

[unbeliever]

In a fair society we are entitled to gain reward for our efforts.

 

But then those rewards should be distributed to others. So is our entitlement to watch the money we earn as it goes by into the hands of the state to be distributed?

 

My real point is that it's not simple. History teaches us that heavy redistribution costs us more money than we collect by it. Fair or not, leaving half or more of the money that the super-rich earn in their hands is actually in our enlightened self-interest.

[tinfoilhat]

Couldn't non-corbyn supporters leave this thread alone? I'm all for debate but I'm not learning anything on this thread. Perhaps we'd learn more if we watched rather jumped in? David Attenborough learnt more by watching monkies than skinning them alive!

 

---------- Post added 13-09-2016 at 22:07 ----------

 

In a fair society we are entitled to gain reward for our efforts.

 

So if I lean on a brush at Microsoft I get a load of bill gates money? Awesome!

[mickw]

But then those rewards should be distributed to others. So is our entitlement to watch the money we earn as it goes by into the hands of the state to be distributed?

 

My real point is that it's not simple. History teaches us that heavy redistribution costs us more money than we collect by it. Fair or not, leaving half or more of the money that the super-rich earn in their hands is actually in our enlightened self-interest.

 

I'm not so sure but tbh I'm not a finacial wizard by any means and my veiw maybe rather simplistic.

Quite a bit of my money is paid to the state and I see very little of this back, as is the way.