Rachel Reeves to tax pensioners by pretending their hard was just luck | Personal Finance | Finance

Hosts and families also need to worry. The Labor Party plans to shoot them with new deck taxes and they will not have to be super rich to pay. The worst is that the attack is based on a lie.

Working for decades, saving and mortgage payment for decades is no longer important on the left. Instead, while the Labor Party houses, pensions and security are not the result of strict work, millions of people will be punished for this on November 26th. Completely dependent on the chance.

Chancellor Rachel Reeves is under pressure to collect extra tax from £ 30 to 40 billion to finance expenditures. On the left there are calls to raid the reserve to finance the Workers’ Plans of the Labor Party.

Today, the left -wing Thinking Corporation is at the Solution Foundation, which is an institution established in the Treasury.

Torsten Bell, who runs the Foundation for ten years, is currently writing the budget for the Labor Party’s retirement minister and Reeves. The other two former solution foundations employees will also give direct advice to Prime Minister Keir Starmer about his content.

The Solution Foundation has somehow survived Bell’s departure and continues to meet tax requests before the budget. Today’s report should scare everyone who has a little wealth.

He warns that the gap between rich and poor households has expanded in the last 15 years, which is a real concern. However, he then reached some very dangerous consequences.

The exact solution will be better education, more houses, to put young people work and to promote investment to gain richness.

But this is not the approach of the Labor Party. Instead, the left plans to receive taxes from those who do good work, as if this is going to raise others in a magic way. Will not.

Molly Brroome, the Senior Economist of the Solution Foundation, claims that increasing pension and home prices constitute the majority of the authority deficit. Is his result? British need new and higher dey taxes that “retirees, southern landlords or their families will ride”.

Now it’s a lie. Broome claims that the increase in the household’s reserve is “caused by passive gains such as increasing house prices rather than the active behavior of the household.”

The message is that decades of savings and property ownership are not considered an effort. People did not work for their wealth. Actually, it is something that has not been won.

This means that if the Labor Party taxes, they have no right to complain. Difficult.

In the meantime, do not be fooled by conversations about taxes on “wealth”. Reeves’s no super -rich British enough to close the budget deficit, and if he tries it, he will escape to most overseas countries.

Instead, the burden will fall on the shoulders of ordinary pensioners, families and homeowners who have saved reasonable throughout their lives.

And don’t believe the nonsense about “passive” gains. Yes, retirees took advantage of increasing home prices.

However, as my simple accounts show, it is difficult to save for deposit, pay mortgage and manage a house for decades.

Imagine a house of £ 250,000, purchased with an £ 200,000 with a 5 %interest rate of 30 years. Now imagine that this is worth £ 500,000 today.

Is the owner sitting with £ 250,000 snow? Of course not. During this period, they will have paid an interest worth £ 186.512. When you add deposit and capital, the total invoice reaches £ 436,500.

This deduction shows that net earnings are only 63,500 £, but even this is misleading. Once they have been adjusted according to decades of inflation for decades, they will have made a real loss.

And this was before the release of years of repair, maintenance, upgrade, municipal tax, VAT and other costs. This is nothing but passive. It’s a very difficult job.

The same applies to pensions. Each pound comes from the taxation income that has been accumulated for decades and the real value is eroded due to inflation. This is a solid leftist political deflection that has taken on the guise of economy.

When Reeves hit the retirees once again, they will pay for decades of efforts under the guise of justice. Wealth will not close the gap. This will do nothing to improve the chances of life of those who are left behind as they make ordinary people even more impoverished. And that’s gonna withdraw a lie.