that's a lot of extrapolation you did there.JR8 wrote:What on earth does that mean?stuckmojo wrote: The accumulation of wealth at the top has now gotten to a stage where there is no opportunity for those at the bottom of the pyramid, as they start off with a disadvantage too big to bridge.
It sounds as if you are suggesting that there is a fixed supply of money/wealth in the world.
Rockerfeller's, Carnegie's etc, Gates, Bloomberg, Corzine, Jobs ... heaven's even King Solomon, he 'of the gold-mines', and Croesus .... which one of these do you think marked the end point for the wealth-stakes of 'little people'? Or are you going to try and pin it on that pleasant looking Mark Zuckerberg?
I've no idea how the achievement of wealth by some might 'disadvantage' those starting out: In fact isn't that precisely the reverse of 'The American Dream'*? So you're saying Zuckerberg killed the American Dream?
* 'The American Dream is a national ethos of the United States, a set of ideals in which freedom includes the opportunity for prosperity and success, and an upward social mobility achieved through hard work. In the definition of the American Dream by James Truslow Adams in 1931, "life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement" regardless of social class or circumstances of birth.
http://en.wikipedia.org/wiki/American_dream
You're right PH. Get your wealth away from the UK if possible and park it in Singapore. At least here you're not going to be wiped out with a super rich tax or 21% VAT or a death tax as is likely in Australia/UK.Primrose Hill wrote:ISAs etc in UK has a limit.
We pay tax on our pension pot and there's a maximum that one can contribute to the pension pot.
If you work 2years or else, all our pension that's tied to the company will be return to you when you leave the company, minus your taxes, of course.
If you are on defined contributions as most of us are on, there's still the 2.5-3% admin cost to administration cost to pay.
Middle classes are now being sucked dry. Lets tax the people that actually pay their taxes. Lets tax the people that actually bother to work and try to take care of themselves and their families.
You don't need to 'wait for the next crash', not least as, in such terms it will never come. Or rather, even if it does, you won't then suddenly see it, and accept it. Rather your response will be 'Oh F*** I'm not investing NOW, it might crash like that again tomorrow/next month'. Hence you sit and wait until you have comfort that it looks ok, and miss out, and away goes any imagined advantage.PNGMK wrote:I haven't worked out where to go except perhaps to wait for the next stock market crash and then buy some good dividend stocks (i.e. low payout ratio, consecutive dividend growth etc).
What's 'envelope taxing' I can't say I've heard it it, and Googling it came back to this very topic!Primrose Hill wrote:I am toying with the idea of a SG Pte but I wonder how envelope taxing will then affect it. Mr Osborne is lowering the entry requirement for envelope tax starting at GBP500k by April 2015.
Self-managed SOF.... been there done that, and you're right it's a flipping nightmare. Vested interests, partisanship, chaos, 'in/out groups' of residents, and so on...Primrose Hill wrote: The other problem for me is that one of the flats is share of freehold and the block manages itself and of course, you are likely to get a deranged leader that wants to put up a penthouse on a grade2 listed building or basement parking etc. All fun and games
I am almost at lost now on trying to figure out the assets in UK, other than selling it.
Thanks for that!Primrose Hill wrote:
http://www.pwc.co.uk/private-business-p ... -you.jhtml
here's the envelope tax thingy
And that's precisely why, when you visit a chemist/pharmacy/apothecary in Germany a pack of 10 Aspirin will cost you maybe euro 6 (S$10).aster wrote:Can't afford to pay honest, liveable wages, yet miraculously making billions in profits each year isn't a problem, then shut down and p*** off.
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