Surely we must pay more taxes!?

a small group of people hoard money they don’t really need

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

👏👏👏

Barleyfields

Starmer has just announced on PMQ that the additional funding to take the defence budget to 2.5% of GDP will be taken from the overseas development budget. For the time being anyway, until more than 2.5% is required as is predicted, that seems to me a satisfactory solution. Doubtless others will disagree, but we must put our country’s needs first.

I don't like it as a long term solution, but don't see an alternative as in needing very rapidly.

What a sad world.

Wyllow3

Barleyfields

Starmer has just announced on PMQ that the additional funding to take the defence budget to 2.5% of GDP will be taken from the overseas development budget. For the time being anyway, until more than 2.5% is required as is predicted, that seems to me a satisfactory solution. Doubtless others will disagree, but we must put our country’s needs first.

I don't like it as a long term solution, but don't see an alternative as in needing very rapidly.

What a sad world.

As the extra money is going into defence and the likelihood of deploying our armed forces in Ukraine (which is overseas) as peace keepers in my opinion it’s the right decision

GrannyGravy13

^a small group of people hoard money they don’t really need^

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

No, I don't ... and I'm not even commenting on the choices people have about how they spend their money ... that's up to them.

Nevertheless, I find it quite disturbing that people really don't seem to know the difference between "want" and "need" Isn't that we tell toddlers?)

Need is about what you require to stay alive. Anything else is want. Unless people have specific medical needs what people actually need is more or less the same.

I actually find it quite amusing that people can't see their own hypocrisy.

The sad thing is that overseas aid/development helps prevent the sort of thing that results in us needing to arm ourselves. It’s a viscous circle.

GrannyGravy13

^a small group of people hoard money they don’t really need^

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

They don't need it. They want it - to give them security.

Maybe Man City player Erling Haaland needs £500,000 a week for the next nine and half years, for all I know.

However, I wouldn't mind betting that there are a fair few who don't think he needs it.

It really makes me wonder how people in Gaza and other hell holes survive without the things which so many people seem to think they need. Or homeless people on the street, for that matter.

growstuff

GrannyGravy13

a small group of people hoard money they don’t really need

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

They don't need it. They want it - to give them security.

Is there something wrong with having security? A home that won’t be taken away from you, the knowledge that you can pay your bills and replace a domestic appliance or car which packs up, and, if need be, pay for private healthcare rather than going onto, and perhaps dying on, an NHS waiting list and pay for care?

I do disagree. Robbing Peter to pay Paul is not a good look when there are plenty of opportunities available to tax the seriously wealthy (and by seriously wealthy I mean a level of wealth that I doubt that anyone on this forum enjoys) who are, in effect, being taxed at *less than the ordinary citizen.

Also, didn’t the tories cut the international aid budget? Has Labour even restored it to its previous level?

It’s one of those contributions to the UK’s ‘soft power’ that I think is foolish to curtail. Particularly with the US pulling out of overseas aid and development.

oh, my last was in response to *Barleyfield’ WRT to cutting foreign aid to pay for defence.

growstuff

GrannyGravy13

a small group of people hoard money they don’t really need

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

No, I don't ... and I'm not even commenting on the choices people have about how they spend their money ... that's up to them.

Nevertheless, I find it quite disturbing that people really don't seem to know the difference between "want" and "need" Isn't that we tell toddlers?)

Need is about what you require to stay alive. Anything else is want. Unless people have specific medical needs what people actually need is more or less the same.

I actually find it quite amusing that people can't see their own hypocrisy.

I don't think it is up to anyone else to decide people's needs and wants. Who are you to decide for them.
Therein lies Communism.

Barleyfields

growstuff

GrannyGravy13

a small group of people hoard money they don’t really need

growstuff I am quoting you.

I will repeat my answer to you, you might call it hoarding, I and many others call it saving.

How on earth do you know what other people really need , you have no idea of other people’s, outgoings or financial commitments…

They don't need it. They want it - to give them security.

Is there something wrong with having security? A home that won’t be taken away from you, the knowledge that you can pay your bills and replace a domestic appliance or car which packs up, and, if need be, pay for private healthcare rather than going onto, and perhaps dying on, an NHS waiting list and pay for care?

Indeed.

As a point of interest I would ask if one doesn't want security, why not rent? Why not taxi? Why not wait long years for NHS care?

growstuff everyone needs a goal, something to aim for.

If we all only worked for our needs, there wouldn’t be entrepreneurs, startups, etc.

I didn’t and still do not need the hassle of owning a SME, I wanted to.

My want employs people which enables them to fulfil their needs and wants.

My wants keep other people employed in other professions. I do not need to go to the hairdresser, I and others do and thereby a hairdresser has a job, I could carry on but I hope you understand.

Having savings is not a want it’s a need in the current global economy.

We are never going to agree on this, but hey ho that’s life.

Barleyfields. How tight you are about personal security. And implying to spend your savings as you wish. A few. Years ago there was a thread about private medicine. I wrote that I should be able to spend my savings how I wanted. Preferring to have two new hips rather than a new car which I would be unable to drive. When GSM was on GN she said if I put my head above the parapet I would get shot down. And how right she was. People seem more tolerant now to private health care. And me I can get round without difficulty, can drive my car and don’t need any social care or support. Without it I would have been totally dependent

nanna8

We have some friends who are extremely wealthy by anyone’s standards. They are very,very tight with money to the extent it is just laughable. They certainly would and do avoid any tax they can. I guess that is why they are so rich! They pay professionals to tell them how to get round tax laws - and,sadly, it seems to work. I don’t b know if that happens in the UK but I suspect it might.

Did you think the very wealthy sat down with a calculator/ paper and paper once a year. 🤷‍♀️

I’m glad to hear that Gwyllt. We surely save to have a cushion against bad times if we can achieve it - needing hip replacements and being dependent on the NHS means years of pain and restrictions, of existing rather than living, and if that’s not a bad time I don’t know what is.

Gwyllt good to hear you are able to get out and about.

Years ago there was a thread about private medicine. I wrote that I should be able to spend my savings how I wanted. Preferring to have two new hips rather than a new car which I would be unable to drive. When GSM was on GN she said if I put my head above the parapet I would get shot down. And how right she was. People seem more tolerant now to private health care. And me I can get round without difficulty, can drive my car and don’t need any social care or support. Without it I would have been totally dependent.

We've 4 TkR between us - private health care. We drive, we ski, we walk miles a day. Yes, people are more tolerant to private health care.

Thank you grannyGravy and Barleyfields

GrannyGravy13

growstuff

GrannyGravy13

growstuff hoarding? I disagree, I call it saving for retirement or a so called rainy day, we never know what is round the corner.

Gggrrrr! Good for you! I was describing the most efficient use of money for a whole society on a macro scale.

(But I guess some people don't care about the big picture.)

Are you saying that you are against people saving?

If nobody had a rainy day fund how many more do you think would be reliant on the state for their needs in later life?

I am sorry but I really do not understand the mindset of

^some people cannot afford to save, so no one should be allowed to save^

I dont understand this mindset either, it comes across as bitterness towards those with money.

A Michael Jackson song comes to mind
'I'm starting with the man in the mirror'

I'm seriously decluttering in anticipation of moving and
the stuff I don't 'need' is shamefull

M0nica

^If we are to maintain, pensions, benefits, services, those that have plenty either have got to be taxed more, or have those benefits etc, reduced or removed. How can anyone defend using public spending to subsidize those that already have enough^

I have no problems with your argument just with your cliched representation of better off pensioners^

Older people have quite enough trouble fighting off the ageist lazy stereotypes of what we are and hpw we live. To find people in the older age group accepting them as well is really depressing.

I’m not talking about those wealth is under £1m. There are a lot with mortgage paid off and large pensions who have a very good lifestyle and aim to hand everything over to the next generation, without any taxation.

There is nothing wrong with saving for a rainy day everyone should do it, £1m will pay for a lot of rainy days

Are you talking about £1m in liquid assets, or £1m in total, including house David? I found your post rather confusing. Would you expect someone to sell their home to pay for a rainy day?