Truth hurts I guess.
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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
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.
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.
I dont often agree with this Tory in disguise, but in this case he’s right.
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.
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.
I’m sure he’ll acknowledge his mistake, apologise profusely and make amends with a round of capital-gains tax cuts.
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…
As that one song goes
"But we can
You know we can
We can
You know we can
…"
