the problem with this idea, like any other woolly "let's trust people" idea, is people
people suck. you'd end up with some people saving it or putting it to good use, and some people spunking it up the wall. basically people would do exactly the same as they do now, just £71 more of it.

people suck.
( rachelswipe with a fork, Wed 20 Aug 2014, 13:13, 4 replies, latest was 10 years ago)

thats irrelevant to the idea though
if you spunk it up the wall then so be it, the money would still be in circulation and therefore creating further wealth through jobs in shops etc.
(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 13:15, Reply)

OK, I've spunked up the wall
Now what?
( sporters I’m sincerely gratitude to you, Wed 20 Aug 2014, 13:17, Reply)

Lick it off.

( Je suis un vagabond is an unfunny, up your own arse middle class knob, Wed 20 Aug 2014, 13:18, Reply)

stick up your posters

(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 13:19, Reply)

not if you spunk it on massive drugs

( rachelswipe with a fork, Wed 20 Aug 2014, 13:26, Reply)

THE MONEY IS STILL IN CIRCULATION
At some point down the line it will be used whether directly or not, There was talk a while back of adding illegal trade into the national statistics as it was something like 7 billion added to the economy
(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 13:29, Reply)

i was joking
i am not exactly down with the massive drugs kids, but i suspect you'd be mainlining on lemsip and aspirin if you only had £71 to spend.
( rachelswipe with a fork, Wed 20 Aug 2014, 13:30, Reply)

Ralgex and Whethers
is where its at now
(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 13:37, Reply)

or not

( sporters I’m sincerely gratitude to you, Wed 20 Aug 2014, 13:38, Reply)

zkly

( Je suis un vagabond is an unfunny, up your own arse middle class knob, Wed 20 Aug 2014, 13:17, Reply)

It's the people who would save it that are part of the problem.

( tangledupinblue hairy badge with moving eyes, Wed 20 Aug 2014, 13:21, Reply)

Then tax savings.

( Windy Pig I'm naturally quite suspicious about the moon., Wed 20 Aug 2014, 13:22, Reply)

savings and investments are taxed

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 13:44, Reply)

why would anyone have savings or investments?
that's so selfish.
( rachelswipe with a fork, Wed 20 Aug 2014, 13:46, Reply)

investments very often pay for vital infrastructure, commercial property and medical research

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 13:47, Reply)

shush, i'm tasting lentils here

( rachelswipe with a fork, Wed 20 Aug 2014, 13:52, Reply)

Yeah you'd love to taste my lentils, wouldn't you?

( tangledupinblue hairy badge with moving eyes, Wed 20 Aug 2014, 13:56, Reply)

i'd rather smell your mung beans
no, wait...
( rachelswipe with a fork, Wed 20 Aug 2014, 14:01, Reply)

Is it because not everyone has a loaded daddy that pays for everything?

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 13:50, Reply)

no, it's because saving it for yourself or your family is SELFISH
you should give it all to SOCIETY
( rachelswipe with a fork, Wed 20 Aug 2014, 13:51, Reply)

Fuck those cunts.

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:04, Reply)

don't make me agree with you
neither of us enjoy that
( rachelswipe with a fork, Wed 20 Aug 2014, 14:18, Reply)

How positively vulgar.

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:22, Reply)

Proportially to how much it would be taxed if being spent? Rather than hoarded?
I'm only asking, I've personally no real problem with reasonable levels of savings and I think investment is key, I'm just not as econosmart as I could be.
( Windy Pig I'm naturally quite suspicious about the moon., Wed 20 Aug 2014, 13:59, Reply)

interest is taxed at 20%, with an additional 20 or 25% payable by higher and additional rate payers.
Cash NISAs pay gross interest, but with such feeble rates of interest that they're only really suitable for emergency funds.

Even S&S NISAs aren't entirely tax free. The 10% tax credit on dividends can't be reclaimed.Having said that, it's very easy to get 5% from a stocks and shares NISA, if you want real returns rather than erosion from inflation then that's what you need to do.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:19, Reply)

What's your views on AESOPs and SAYE schemes?
I pay £30 a month into an AESOP and my employer matches it. £60 of company shares per month, for £30. BOOM.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:26, Reply)

any deal where you get free money is a good one
Total no brainer. You have a DB pension, right?
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:28, Reply)

Long story. Started off as final salary, non-contributory, when I joined 20 years ago.
Then they capped the pensionable salary increases to 2% p.a. Now they've fucked that altogether and my final pensionable salary will be what I'm on NOW.

As a half-arsed apology for that, they're giving us a 3% bonus in Nov which I can either put in as an AVC or take as cash. Obviously I'm doing the former.

Cunts.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:32, Reply)

still, DB schemes are extremely generous.
Most annuity clients don't take escalation as an option because the starting income is so low. Your pension will have automatic increases, that's where the value is.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:34, Reply)

Does it? I haven't a fucking clue to be honest.
Will probably look at setting up some AVCs as well I think.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:38, Reply)

very likely will.
Usually RPI.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:39, Reply)

That's something at least.
But it pisses me off immensely that in my remaining career my salary could potentially double and it would have 0 impact on my pension.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:44, Reply)

Plus I work from home, so stealing office stationary to supplement my income isn't really much of an option.

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:45, Reply)

then start saving to a separate private pension.

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:45, Reply)

Would that be better than putting AVCs into my current one?

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:47, Reply)

depends, I don't know the scheme details

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:48, Reply)

They are fabled for their returns

(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 14:43, Reply)

I've got a SAYE scheme on the go at the moment
I can buy company shares at 40p in 2016, which are currently worth nearly twice that.

If the price was to plummet in the meantime, I can just take the money back out, with a bonus. Can't lose.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:46, Reply)

depends on the funds mate, if you stuck everything in a single fund and it underperformed then tough shit.
At my last place, our balanced aggressive portfolio had done 66% over the previous 5 years and 17% over the previous 12 months.

If yours has done badly then you had a shit adviser.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:47, Reply)

You really are a tortoise

(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 14:53, Reply)

as if we didn't all feel sorry enough for your yurt spunk kids

( rachelswipe with a fork, Wed 20 Aug 2014, 13:27, Reply)

I got no doubts that Ladbrook's profits would go up

( G/PP 💩💩💩💩💩&#128, Wed 20 Aug 2014, 13:22, Reply)

I bet you a fiver they wouldn't

( sporters I’m sincerely gratitude to you, Wed 20 Aug 2014, 13:38, Reply)

You gotta know when to hold 'em, know when to fold em. Know when to walk away, know when to run.
You don't ever, count your money at the table - they'll be time enough for counting, when the dealings done.

#LifeLesson
( G/PP 💩💩💩💩💩&#128, Wed 20 Aug 2014, 13:40, Reply)