CGT on “non-business assets”, including second homes, buy-to-let properties and shares, could rise from the current 18 per cent flat rate to a top rate of 40 or even 50 per cent, to fall in line with the higher rates of income tax.
The move could double tax bills for hundreds of thousands of investors and has been denounced as “legalised theft”. There has been speculation that the changes may be backdated to stop a “fire sale” of second homes and other assets.
The Liberal Democrats also want the tax to kick in below the current starting level of a £10,100 profit on any investment income. A threshold of £2,000 has been suggested. Deloitte, the accountancy firm, has estimated that that would mean the number of investors forced to pay CGT each year quadrupling to about a million.
It is estimated that 250,000 families own a second home and that there are one million buy-to-let properties. One in six families, a total of 3.75 million people, also own shares.
50% tax....hell that's nothing. The Democrats are out for 100% plus every drop of your blood.
ReplyDeleteDems would be disappointed to only get 50%.
No capital gains tax on gold and silver....That is, gold & silver you keep at home..
ReplyDeleteLove that Gold and Silver as much as the banksters hate it.
ReplyDeletehell we would not need so much tax if the republicans did not start two wars that cost trillions
ReplyDeleteTwo headed, one party system. Sock puppet Obama carries forth the same war/occupation agenda. GOP vs Dems is just a smokescreen. Illusion.
ReplyDeleteAll answer to and do the bidding for the Oligarch owners of this country.
An American President hasn't made an independent decision for 50 years. They are powerless, meaningless, actor-speakers. Drones only.
ReplyDeletegot gold?
ReplyDeleteits cheap.
soon will be 2000 ounce
sock puppet w bush was the worst president ever, he caused all of this, that is now happening. Just be Prepared for anything!
ReplyDeleteSock puppets don't cause anything, the puppeteers do. The Bush boys were in office only because of their lineage to the bloodline Euro elite families. Bush, Obama, Captain Kangaroo. It doesn't matter. They don't DO or cause anything.
ReplyDeleteFYI, voter turnout today hit an all time low. People are starting to wake up to the fact that their voices mean -0-.
Rand Paul has a big lead in Kentucky, THROW OUT ALL INCUMBANTS IN ALL ELECTIONS, Looks like Blanche Lincoln will be going down in Arkansas as well, Hopefully they throw out that Bum Spector in Pennsylvania as well, THROW OUT ALL TRAITORS!!
ReplyDeleteI have 2000 ounces of gold some cash and silver.can someone give me a true answer please . What happens when we have hyperinflation and gold and silver confiscation at the same time . should I buy 10 000 cans of beans and 50 gallon drums of water with my wealth instead
ReplyDeleteSo much for fish and chips, who will be able to afford them, mates?
ReplyDelete6:48PM 2000 ozs of gold? Rrrriiiggghhhttt... Your eyes aren't brown because of yo mama. LOL
ReplyDeleteThe article is about the U.K. (That includes
ReplyDeleteEngland for Americans who can not read maps ) and the developing worldwide economic crisis.
But the self centered American comments here on this website are only concerned about their individualist survival in their own backyards ,and boasts of how many silver bars they have and the profits they are making ,guns to protect their hoards and attacking and blaming “Hispanics” for americas problems .
As well as petty in fighting trying to find small differences Between factions in a one party Dumbocrat state after a financial coup in treasury.
That’s why individualism obsessed America has no future.
Not a word of socially organising against the elites to take back and re-build a productive america for your children .
Just save your own skin and I am all right jack boasts.
All that America that was once seemingly solid turns into hot air.
Including the dollar.
Bankrupt /kaput.
America deserves its individualist future under the jackboot of its Elite Class and with
more taxes paying for the militarism and wars that it voted for and that bankrupted the country.
Say Goodnight America !
Bury your silver bars in your backyard so that like a dog burying a bone you may have something to eat in the future!
11:16 there is no other option than looking after #1 at this point. The Empire is toast. The time for trying to stop our criminal government, reform things, is way past. Tyranny and self-preservation awaits.
ReplyDeleteHats off to the 2% that tried, but the lemming crowd cannot be stopped from walking off the cliff.
Why should capital gains be taxed at a lower rate than wages? It's inherently unfair. Don't give me that BS about how lower capital gains rates increases investment which promotes job growth. Bullshit. Explain how someone buying stock on the secondary market provides a benefit to that company. Fine then have lower rates for IPOs, accelerate depreciation or more s. 179 writeoffs. If we want investment in PPE than target tax cuts for those areas. Buying some financial instrument and holding it for a year and a day than getting to pay less taxes than someone that wakes up to the sounds of an alarm clock everyday, that ain't right.
ReplyDeleteAnd because rates are 15% it's caused the mess we are in with the deficit and short investment horizons. A year ain't squat.
If you want more of the same then keep doing whacha doin if you want things to change, well that's gonna take some change.
But 11:16, you can't eat silver bars!
ReplyDeleteI agree with you that Hispanics are scapegoated. People hire illegals for short-term savings to avoid paying benefits such as healthcare. But it eventually gets paid for with public healthcare. People that don't like Hispanics should hire Americans and be willing to shell out for insurance. Single-payor would eliminate the expensive middleman called the insurance company.
What employer would hire an illegal if they could hire an American that came with their own single-payer insurance? It would naturally curb illegals.
Socialist countries such as Sweden have surpassed the USA for business climate so the old conservative talking points don't work anymore.
Well, this is an unusual depression. Socialist and capitalist countries all have fiat currency and are all in this depression.