We don't 'give' them these benefits they 'take them because they set the rules!

It’s a stark fact that the common good is not considered.

@Ramit16

3 ай бұрын

Greed , the more the better, they just don't understand life beyond their electric gates

@oldishandwoke-ish1181

3 ай бұрын

... and indeed is actively resisted.

And yet they now call social security payments benefits which gives a false view about the social security system as a safety net.

I agree with Robert Martin. These short videos are terrific and make a point at a time. The cumulative effect of them all is extremely potent and hard to counter.

Richard I’m loving these short videos, highlighting points made in the Taxing Wealth Report 2024 which you’ve published and which I fully support. The videos make the points very well and I’m sharing as many as I can in the hope more people understand, and more importantly, how it should affect their votes.

Also, do not overlook the fact that you could be on benefits: Claimant: "Here's £330 for your entire budget this month - food, electricity, gas, phone etc. Remember you can eat for 30p a day." Landlord: "Here's £800, you've worked for it and deserve it. Bless you wealth creators. Vote conservative." Please note, I'm not just bashing landlords - it is the system.

Excellent idea, well presented. Rachael Reeves should be listening.

@woofpet

3 ай бұрын

Haha - fingers firmly in her ears and singing la la la.

It makes a lot of sense to the wealthy. We need a revision of the system as you describe.

An excellent presentation of facts, Sir. Like and Subscribe ❤

The answer is if you pay in you should get out. If you don't you don't get out simples

I am 74 years old and still work full time. I do take my state pension which the government give to me with one hand and take most if it back with the other hand. I did defer it for a few years but as I don’t know how long I will live, I could see it was not a realistic proposition, so started drawing it.

This is a really interesting series of short videos.

Mr. Starmer? Ms. Rayner? (without much hope).

Great video! Just found you today and instantly subscribed. Hoping you’ve got more content like this

I was a financial adviser for 40 years and I could never justify to myself why higher earners received higher rate tax relief on pension contributions. Advice would be given to people on lower wages who were saving probably just enough into a private pension pot to disqualify them from council tax support or pension credit in retirement. I'd go even further and impose capital gains tax on main residences. I'm fed up hearing from people who want the best public services but don't want to pay for them.

They’re more deserving than the poor. Keep the poor,poor and keep the rich rich. Simple.

Hi, another great video. Well done! Have you done one one UBI?

Why not consider that the better-off people with disposable income who are landlords are often renting to people on benefits... these well-off people are essentially receiving benefits. It's not right.

But they don't get sanctioned or suffer benefit cuts ever

Shouldn't the government fix the imbalance between those who get the state pension before and after 2016 first?

In a 'just' society all benefits should be universal, rich and poor alike taking benefits from our collective contributions to a just social structure. Our problem is that we have abandoned all hope of a just society in favour of 'neoliberal' individuality, greed is good, screw the next guy and cheat your neighbour is the social paradigm from 1980's on ,created by the Tories for the Tories because they had a massive advantage, they built the system and T.H.E.Y built it to protect their hierarchy.

"Give pensioners more money and they spend it in the community and we all benefit" But that argument collapses if they up sticks and retire to the Med.

@declanmcardle

2 ай бұрын

Can't any more - no freedom of movement to ES/PT/FR - Schengen 90 day rule...

@DoodlesMusic

10 күн бұрын

Richard is talking about people on low incomes? How many people do you know that could afford to 'up sticks and retire to the Med'? Or would even want to? It's a myth.

@tombartram7384

9 күн бұрын

@@DoodlesMusic bargain loving brits in the sun.

It's all about class war.

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life.

@josehenry7205

3 ай бұрын

Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?

@adamdouglas9888

3 ай бұрын

As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken

@raphfelimax2713

3 ай бұрын

Wow, I'm supprised Stacey Macken is being mention here. I started off with 5K.... Now with massive portfolio highly recommended...

@tryleraaron9244

3 ай бұрын

This Woman has really change the life of many people from different countries and am a testimony of her trading platform

@FranklyHunt

3 ай бұрын

I met Stacey Macken at a conference in 2018 and we have been working together ever since.

Whilst I agree about the pension tax relief, I think this is missing the major problem we have with taxation in this country. Higher earners do at least pay a reasonable proportion of their income in tax, somebody can inherit £500,000 and pay no tax. The Duke of Westminster inherited £16B and paid no tax. Taxing wealth is the key to better equality, not going after the middle class.

You tell me.

Isn’t it an incentive to save for our future so as we’re not a burden to other taxpayers in the future?

"Give pensioners more money and they spend it in the community and we all benefit" - well, they will spend it, yes, but who benefits? Sainsbury/Tesco/Shell/BP shareholders....

@DoodlesMusic

10 күн бұрын

And these companies then pay tax, employ people, if they're the lucky, employees may get a pay rise, etc etc. Whereas the wealthy squirrel away their tax breaks and wealth, often abroad, and pay no tax on it at all.

It's hard to bother to engage Richard because you never enter into any discussion.. what's the point in commenting

State Pension is a Contributory Benefit. As long as they have contributed to the scheme enough to qualify the wealthy are as entitled as anyone else to claim it. Taxing the wealthy is the way forward. Reducing tax relief to 20% on pension contributions is one way. Taxing dividend income at the same rate as earned income is another way, and has the additional benefit of being inherently fairer on the less wealthy who are more likely to earn all their income. Attacking giving Contributory Benefits to the wealthy opens the door to means testing and is to be avoided as in the longer term this harms those with a modest income and savings the most. Remember, State Pension has been purchased through Contributions, often paid for over 40 years. National Insurance includes the old Graduated Pension contributions. People bought their State Pension. It's not charity, and should be paid irrespective of wealth as any other paid benefit would be. At the end of the day, the Government promised a Pension in return for contributions.

@stuartregan1627

3 ай бұрын

Absolutely. Imagine taking pensions off people because they worked too much & saved too much. Ludicrous . Means testing would just stop people working & saving. Take pensions off people for not working is a much better plan .

There are lots of places where the wealthy are given oppotunities to benefit at the cost to society. My personal interest is land, and although well studied with clear answers (Land Value Taxation) the vast majority of people just don't want to know. This will bite them in the end.

@malcolm8564

7 күн бұрын

They would only be able to pay that tax from earnings received from the use of the land and that is taxed already.

@loc4725

7 күн бұрын

@@malcolm8564 You replace or reduce other taxes with LTV, the idea being that under or non-utilisation (hoarding) of land is discouraged. There's a video by BritMonkey on this subject and he uses the example of a building in London which was diverted from it's intended use and instead left dormant as an investment. If proper LVT was implemented then this speculative hoarding wouldn't be viable and society would not only get the tax raised but also the benefits from the business operated there.

@malcolm8564

7 күн бұрын

@@loc4725 so you're just saying that council tax should be applied to empty properties.

@loc4725

7 күн бұрын

@@malcolm8564 I'm saying that a Land Value Tax should apply to _all land_ but with improvements to that land, such as housing, being ignored.

Because it’s the Tory way….

What is the definition of rich? I've paid of my mortgage over 30 years, I took a % of my pension as cash and have it in the bank,, my state pension and private pension are very slightly above the average earnings and I receive no 'benefits',,,, however with my small bank account and private pension, some people even want to means test the state pension,,, makes you wonder why I worked and occasionally saved a bit for retirement for over 50 years. Maybe people nowadays are not so stupid!!!

@stuartregan1627

3 ай бұрын

No point in saving & working if the state takes your life savings when you retire. Means testing is economic suicide. Work & save too much then no pension. OK people will not save & a lot won't bother working either.

You've been a supporter of rthe bank of englands rock bottom interest rates for years. The poor are poorer precisely due to that policy.

Do you mean that they receive tax relief and get to keep more of their own earnings? If so , saying that they receive benefits is misleading. I’m not a higher rate tax payer by the way.

As a non-left-winger, I've been finding Richard's videos stressful, as he hasn't until now said anything I could disagree with. But I have a smidgeon of hope for this one. Can he explain how he will create fairness between public and private sector with this proposal? Will doctors have to pay tax on the value of their pension contributions, to ensure they are only getting the equivalent of basic-rate relief? And bearing in mind the reasons the lifetime allowance was abolished, has he factored in how much doctors pay will have to be raised consequently, to avoid them all getting pissed off and retiring, when he was calculating how much more money the government will have to spend? Also, just to make sure that public sector pension accruals are being valued fairly, will he support a change that allows any UK citizen to buy pension provision from the government at exactly the same cost public sector workers are claimed to be getting it?

@DoodlesMusic

10 күн бұрын

Fairness is redistributing the cost of the higher rate tax relief to lower earners in the form of higher state pensions, for example, or using it to increase child benefit? Or to use the money saved to benefit public services, which benefits all of us, does it not? Doctors would have to get on board with the 'we're all in this together' attitude, and remember they work for the NHS, the cornerstone of the welfare state. I remember, as a financial adviser, visiting a hospital doctor who was livid about Blair's huge increase in doctor's salaries as she pointed out that all of the increase in her salary would be taxed at 40% and the hospital could've recruited a much needed extra nurse for the equivalent amount.

The country will be better off without so many dependant on the state for their retirement and pension saving should be encouraged That is why there is tax relief. Politics of hate here. Tax the f out of everyone to an equal level of poverty. Why not just print the money to give to those in poverty eh Mr Murphy? Thats how your beloved MMT works is it not?

Totally biased and skewed vlog. They pay and have paid vastly more in tax and ni!

Because taxes (40% income tax) are too high, the rest of money after tax is not enough to live in the UK. The pension tax relief is the only mitigation for high(!) earners.

@iwantagoodnameplease

3 ай бұрын

Two completely separate issues. If you can't afford to live on your income, after income tax, then how could pension contributions possibly help? You'll starve before you get to cash them out.

@aturan-fo1qt

3 ай бұрын

@@iwantagoodnameplease Even you cannot touch that pension relief part until 58, at least you know it will be yours and now you can invest that money whatever you want.

@WarrenPeaceOG

3 ай бұрын

I spent my pension to get thru the pandemic and start a new business. It's not a big deal tho, because it didn't amount to much - you really need millions for it to support you for any length of time. And no point worrying about pensions during WW3. Now is a good time to do things differently. I suggest actual democracy and a mixed economy, but I'm "far Left"😹

@kanedNunable

3 ай бұрын

tory simp alert. its only 40% after 80+k ya melt.

@aturan-fo1qt

3 ай бұрын

@@kanedNunable nope, because of fiscal drag/frozen tax bands even teachers/nurses started to enter 40% tax band at 50k. They will be lost their dividend or marriage allowances if they don't use pension tax relief.