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@linmeitalks Literally this Lin, politics has become too tribal like political parties are football teams or something. With an electorate unable to be open minded when the facts change.

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@SteveBakerFRSA FFS @SteveBakerFRSA this is who they chose to replace you with? Well you get the politicians you deserve I guess 🤷‍♂️

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@JeremyVineOn5 @albieamankona @Tessadunlop @PeterMcCormack check this one out @Tessadunlop doesn’t even know whether corporation tax is paid on revenue or profit lol. These people & their ideals are insufferable. Another economically illiterate lefty pushing narrative & ideology over facts & reality.

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And what part of this leading to fewer homes being available because landlords quit are you not understanding? The demand from renters doesn’t suddenly go down, that’s why you will never get a cap that is fixed. Or else you’ll have thousands of homeless renters, who go where in you scenario council housing?…… oh wait no the councils already rely on the private landlords themselves loooool

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@DanNeidle why is the answer always ban straight to jail, such a knee jerk reaction. There are more types of these transactions that occur for genuine property investment reasons than not. E.G I buy a block of six flats to let or maybe a row of 7 cottages as one transaction to put in my investment portfolio, these are two legitimate reasons this 5% rule applies. So because a billionaire exploits it your answer is BAN? What nonsense.

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@Smneabkr @linmeitalks Dumb take & What history? the Afro-Caribbeans didn’t inhabit the land prior to forcefully being taken their. So whose land does she actually refer to being compulsory taken and given too whom?

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@TheUsefulldiots @linmeitalks No not at all they just enslaved them on the sugar producing estates in Egypt 🙄

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@moving_charlie @TMarxx Exactly this if you also had people that understand economics heading up these parties we’d be in a different place economically as a country. The salary of prime minister needs to be at least £500k PA to incentivise the actual competent people into politics.

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@themarketsniper I ran a similar comparison for UK property as I was tired of people claiming uk property is expensive/overvalued one thing that’s telling vs your mars bar example is UK broad money has expanded at roughly 7.4% per annum compounded since the beginning of the consistent M4 series in 1982.

The average UK property 5.7% price growth calculated over roughly the same period so in fact the average price of a uk house has underperformed vs the increase in the money supply.

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@Andrew94482941 @afneil Yes on a much smaller population, the UK equivalent would be £13k per uk person because the UK has 12x larger population, major detail your overlooking.

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@AaronBastani @AaronBastani it’s strange how you put the 70% economically illiterate publics opinion over those who actually know what they are talking about backed by facts and figures. Ideology what a wonderful thing ey

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@K_Niemietz This is what I was expecting you to explain and point out on @PiersUncensored yesterday, love your work but a missed opportunity to really put him in his place on where his theory goes wrong. I actually thought @piersmorgan did a better job at calling his absurd narrative out than the economists did.

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@JakeJK666 You’ve just described leverage, not untaxed wealth. Furthermore the largest source of UK capital gains is private business equity and shares.

A loan isn’t income or wealth it’s a liability that has to be repaid with interest. Banks don’t hand out £1m because you’ve magically created untaxed purchasing power; they lend against collateral, affordability or existing assets, all of which generally originate from capital that’s already passed through the tax system mate.

More importantly, you’ve drifted away from the original point. The debate was whether capital gains should be taxed like employment income. Borrowing money to buy an asset doesn’t make capital gains equivalent to wages, nor does it remove the fact that the investor bears the downside risk while remaining liable for the debt.

Also you didn’t answer my q which bank will lend me a million £ without collateral I want to take them up on it?

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Show me a bank that will lend me £1million without having to provide them collateral? Which carries risk of losing value while the loan is outstanding (Margin call risk now introduced). Also I owe interest on said loan, back to my incentive comment before. I can do this all day @JakeJK666 because the math doesn’t math in the left wing ideology.

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Well unless you believe the majority of money used to invest came from a tax free gift Mr Farage style, then it’s pretty obvious it has at some point already been taxed. Either via income, capital gain, inheritance etc what part of that are you not comprehending. Where did the money you say you’ve made large investments come from and was it tax free?

If not yet again you’re proving my point for me.

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@JakeJK666 You’ve rather proved my point. The overwhelming majority of investment capital originates from income that has already been taxed in one form or another. But that’s not even the main issue.

The point @rorysutherland proposal ignores is that invested capital carries downside risk in a way earned income doesn’t. Hence my employment example I see you failed to have an answer too.

People will do as they are incentivised and If you tax returns on risk capital the same as guaranteed earnings from labour, you reduce the incentive to invest. Less investment means less capital flowing into businesses, housing and innovation. That’s hardly a recipe for economic growth. Not that we need growth and innovation in this country though ey 🙄

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@HenryPryor Yes and yet the main capital that is used to make the gain carries down side risk that income doesn’t, your focusing on the gain ignoring the overall capital risk.
Are you suggesting in order for me to pay higher tax on my gain the government protects my down side then?

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@HenryPryor You’re missing the point. I’m not saying the gain has already been taxed. I’m saying the capital used to buy the asset almost always came from income that has already been taxed, and unlike a salary, that capital is fully at risk. An investment can lose 30% just as easily as it can gain 30%. Your employer doesn’t ring you at month end and say your salary is now worth 30% less. That’s why capital gains and earned income aren’t economically equivalent.