Row as Starmer suggests landlords and shareholders are not ‘working people’
Row as Starmer suggests landlords and shareholders are not ‘working people’
It comes as the Treasury minister refused to say whether those who rent out properties would be covered by Labour’s manifesto promise
That is correct. They might work, but in context they are not “working people”
Here “working people” is synonymous with “working class”. Thus, not landlords and shareholders obviously
I’m curious about your definition of shareholder; what if I owe £80 worth of fractional shares in an app-based investment service? Does that make me a shareholder?
It’s not my definition. It is the definition that is being used in context in the article. Read it before commenting
The definition being used is proper and common in modern usage.
It certainly doesn't make you a worker.
Then your income wouldn't be affected in any real way by raising taxes on those shares and getting cross that Starmer taxing unearned income is affecting you badly is bothincorrect and missing the point.
Starmer is raising tax on unearned income instead of working people's taxes, which is very fair for a change, and you're splitting hairs over definitions of who counts as workers. You're so missing the point.
Based from Starmer there.
Landlords and shareholders aren't working people.
This might be my favourite thing he's said yet
In a country like UK... He just pissed off a lot of parasites.
And thats a good thing! They got too comfortable over last 40 years.
UK is fucking gutted from within, and peasants accept it lol
Okay, so (hypothetically) I can be working for 50 hours a week to make ends meet. If I put any little savings I have from time to time into stock, I am not working people anymore? Just because I want to be financially responsible?
This isn't hard to understand.
Owning stock doesn't make you a worker. Being a landlord doesn't make you a worker.
If you work on top of the above, you are a worker. If you do not, you aren't.
There's a big difference between "a landlord isn't a worker" and "a landlord cannot be a worker."
An absolutely based comment from Starmer.
Truth hurts I guess.
Comrade Starmer lmao
He's right though. I'd very much like a PM to take a hard line on these chuckle fucks.
Nothing "comrade" about it. It's just sense.
He definitely is. It's refreshing to finally even hear this sentiment from our government. However it's just words, hopefully we start seeing some positive changes in the rental and housing market.
I'm super dubious because Starmer has done very little to earn my trust, but I would be very keen to be surprised, or even proven wrong
That may be the first thing he said that I agree with him on ever.
I mean, he's right. The whole point of my mother leveraging her home to become a landlord back then was because she had a stroke and literally could-not-work. Landlords aren't working class. They're just investors.
Of course they're not working people. They are leveraging capital to give them an income. That is not the same as chopping wood and carrying water.
Or filing accounts.
Yeah you may be younger, but let's remember many folks my grandfathers age did not consider white collar work, to be work.
That idea is as far from correct as this article. Anything that is taxed under PAYE is working taxes. As the Labour Party manifesto and Starmer called it.
Shares growth of property and renting is taxed as capital gains.
Owning a business is the one that depends on how you choose to do it. Most sole traders are by definition covered under Income tax if self filled rather than PAYE.
If you have registered an LTD, you have a little more choice. And most accountants will advise you do not pay yourself as income tax. So you will be treating your labour as an investment. And here we see why the wealthy want false claims like thi in the right wing media. Because there is a possibility, that advice may change in the future and business owners will lose some tax advantages to a pay lower tax % than their employees.
As a landlord (I own two properties) and as someone who also works full time I agree with him.
It may take up some time but ultimately it's an investment.
Landlords like myself aren't (typically) struggling, so we should pay more tax, especially now as the country needs it. I am proud to say I don't tax dodge and pay what I owe. But unfortunately there are many loopholes that can be exploited to avoid paying tax. Just a few weeks ago someone was telling me how I should put my properties under a LTD company to avoid paying tax (I didn't and won't). I hope the Labour government does more to close these loopholes for tax dodgers.
Thank you.
Because he is correct
And, as everyone here says. He is correct. It is an investment. Not work. Yes you are taking a risk, that is the point. If you work, you should not be taking a risk. But instead paid for your labour.
Unfortunately, saying it here doesn't matter. Papers like the telegraph and other Tory press are not going to care about the facts. They only care about creating division.
More importantly, Starmer et al. Are also not going to make the effort to argue this case. No effort is going to be made to push forward the true difference between working class income and actual investment income.
Anyone watching saw this argument starting during the election. It was clear then when labour started talking about working taxes. The Tories instantly started arguing that the Tories were talking about not raising taxers at all. Anyone watching saw this discussion forming.
And Starmer et al. intentionally ignored it rather than draw attention to the difference. They will not bother to fight the terminology now either.
They do no labor, they create no good, they accomplish no service. Literal rent-seeking.
Well I remember when I used to rent I don't remember my landlord ever doing anything. He owns the property but he certainly didn't maintain it.
Owning shit isn't working. Why is this controversial?
Because the right wing media wants it to be. The answer is simple.
Cool if owning property is work. Let's abolish capital gains tax and charge it as income.
Because at the end of it. That is what the telegraph etc is saying. They are trying to argue Starmer agreed to hold all taxes when the manifesto clearly stated working taxes.
Cool call their bluff all capital gains is now charged as income tax.
Yeah, Starmer is right though...
By definition if you make all the money you need to live from investments like stocks, bonds, or leasing out homes then you aren't working class. If you work a regular job, but have some additional income from investment savings you are working class, but the Labour government isn't having to focus on those investments going up as much as making your working life more comfortable.
Yer, I totally trust the Telegraph on what Starmer says on the lines in a class war. Completely trustable source on the subject. Not at all trying to put that line with as many people on its side not Starmers.....
I’m sure he’ll acknowledge his mistake, apologise profusely and make amends with a round of capital-gains tax cuts.
As that one song goes
"But we can
You know we can
We can
You know we can
..."
Are you a landlord if you let a room to help you pay bills at the end of a month? Are you a shareholder if you have a pension?
Judging by the answers here, the answer is no. But then we’re talking about millions of people who work everyday factory jobs, retail jobs, or low level office jobs.
Yes if you own rather then sublet and yes now final salary etc pensions are close to non existant.
Dose not mean it is wrong. But just like the others doing it it is not worked for income but investment income.
Judging from the answers here everyone has a pretty clear idea of the difference between investment and work.
Right, but I hope we’re able to see the difference between a working person who has investments and someone who earns the bulk of their income from investments. Similarly for real estate.
Because calling someone who works and has investment savings for retirement (such as a pension) “not a working person” is not just plain wrong, it’s extremely offensive, especially coming from a career politician like Starmer.
You make valid points in a logical sense but issue of class is the issue of class, not descriptor of economic activity.
This man has never had renters
Oh do go get fucked.
My last renter texted me and told me the toilet wouldn't flush. She said she "took it apart" but couldn't fix it so it needed to be snaked out. I go there and a neighbor told me she set a can of cat food on the tank for her kitten to eat and it knocked the can into the bowl. She tried to flush it down. Her boyfriend shows up and tells me the same story. She only took the tank off (nowhere near where a clog would be) and she replaced it without replacing the gasket so it had been leaking water. Once I knew what the problem was I fixed it in 30 minutes. Her keeping the truth from me made it take a lot longer and cost more. I charged her $300 less rent than the property next door in a trendy neighborhood because I didn't want to be "part of the problem ". Long story short, not everyone is cut out to be a home owner.
Could you imagine a world where the word rent never existed. I bet it would be awesome.