Bank Of England Says People Need To Accept They Are Poorer

[Mister Gee]

On 02/05/2023 at 20:27, Jack Grey said:

You know what's great about billionaires

 

 

They inspire more people to he billionaires

 

With out billionaires we wouldn't have mortgages, Amazon, Facebook. Instagram, WhatsApp, Oil, SpaceEx, Starlink etc etc 

Are you still with us?

[Mister Gee]

On 02/05/2023 at 20:27, Jack Grey said:

You know what's great about billionaires

 

 

They inspire more people to he billionaires

 

With out billionaires we wouldn't have mortgages, Amazon, Facebook. Instagram, WhatsApp, Oil, SpaceEx, Starlink etc etc 

 

[hackey lad]

10 minutes ago, Mister Gee said:

 

You seem to be itching for a fight . Are you feeling alright ?

[Mister Gee]

Just now, hackey lad said:

You seem to be itching for a fight . Are you feeling alright ?

Really? I was just posting some nice music.

[Mister Gee]

15 minutes ago, hackey lad said:

You seem to be itching for a fight . Are you feeling alright ?

If you’re trying to engage in this culture war stuff hackey it ain’t going to work.

 

Edited May 6, 2023 by Mister Gee

[hackey lad]

1 hour ago, Mister Gee said:

If you’re trying to engage in this culture war stuff hackey it ain’t going to work.

 

Ok . Nice song by the way . You should listen to more upbeat stuff . It would make you less angry .

[El Cid]

On 05/05/2023 at 13:18, Annie Bynnol said:

   Your figures are four years out of date, mine are the latest. 'taxation'  are talking about Income Tax only in reality your '30%' shrinks dramatically when the whole tax burden is considered.

£225bn from Income tax. Varying the rates and thresholds has benefitted the highest earners and cost the low and middle earners.

£161bn VAT at 20% is paid by everybody on nearly everything purchased.

£143bn in NIC at 12% for working people and 2% for billionaires.

Dozens of other taxes have increased for middle earners such as Student Loan, Inheritance Tax, Council Tax(support reduction) etc.

The  disposable income of working people has dropped significantly compared to the top earners. 

An annual cut in wages by the Tories have been the norm for 15 years on the trot for millions.

The wage cuts, Income Tax rise, the VAT rise and the NI rise, have had disproportional effect on low and middle earners l and has a far greater impact on children, retired and those on lower incomes.

   We all know in this country that your '300 000' have benefited while the rest of us shoulder the increasing burden of Tory policies over the last decade. 

 

I was reading that May 2023 government debt payment was over £7 billion, which equates to payments of £90+ billion per year spent on debt interest.

[rogets]

Not sure if I have mentioned this in the past but people seem to forget that in the past interest rates were as high as 15%, and when you have a house that is worth £26,000 and you only earn £12,000 per annum. let me tell you its hard

 

And if you went to the bank and asked for a mortgage more than 3 times your salary, then the bank manager said "no I don't think so sunshine"

[altus]

12 minutes ago, rogets said:

Not sure if I have mentioned this in the past but people seem to forget that in the past interest rates were as high as 15%, and when you have a house that is worth £26,000 and you only earn £12,000 per annum. let me tell you its hard

 

And if you went to the bank and asked for a mortgage more than 3 times your salary, then the bank manager said "no I don't think so sunshine"

The BBC's More or Less programme covered that recently. They concluded that 6% interest with the current relative mortgage sizes (at higher salary multiples) is roughly as hard for people to deal with as 15% interest was with previous mortgage sizes (at lower salary multiples).

[harvey19]

24 minutes ago, rogets said:

Not sure if I have mentioned this in the past but people seem to forget that in the past interest rates were as high as 15%, and when you have a house that is worth £26,000 and you only earn £12,000 per annum. let me tell you its hard

 

And if you went to the bank and asked for a mortgage more than 3 times your salary, then the bank manager said "no I don't think so sunshine"

Wife's earnings not taken into consideration, 10% deposit required.