Why aren't all genius's rich?

[libertas]

most of the debt is inflation linked

I've heard this said before but I can find no evidence to support this anywhere.

According to the UK Debt Management Office the UK Government currently has £1.1trillion of gilts in issue.

Of this £1.1trillion only £242billion is indexed linked. This leaves the vast majority of gilts non-indexed linked.

Whether this statement was put into the public domain as pure government propaganda I don't know. Maybe I've done my sums wrong but I doubt I'm that far out.

Anyone else can check for themselves at: UK Debt Management Office

 

[arabianights]

I've heard this said before but I can find no evidence to support this anywhere.

According to the UK Debt Management Office the UK Government currently has £1.1trillion of gilts in issue.

Of this £1.1trillion only £242billion is indexed linked. This leaves the vast majority of gilts non-indexed linked.

Whether this statement was put into the public domain as pure government propaganda I don't know. Maybe I've done my sums wrong but I doubt I'm that far out.

Anyone else can check for themselves at: UK Debt Management Office

the debt isn't just gilts - a huge part of it is stuff like public sector pensions, which are almost all index linked...

 

[arabianights]

I'm happy to pay my fair share of tax too but some idiots think I should pay more.

I'm popping over to the isle of man in november with a view to moving there a few mponths later - did you know max rate is about 20% and they have a MAX INDIVUDAL TAX PAYMENT of around 150k? Not to mention no speed limit!

Since I don't live there yet I don't know if it's as good an idea as I think it is at the moment, but if it is how I imagine it to be, I can't understand why not everyone moves there...

 

[Atilla]

I'm popping over to the isle of man in november with a view to moving there a few mponths later - did you know max rate is about 20% and they have a MAX INDIVUDAL TAX PAYMENT of around 150k? Not to mention no speed limit!

Since I don't live there yet I don't know if it's as good an idea as I think it is at the moment, but if it is how I imagine it to be, I can't understand why not everyone moves there...

One of my friends used to live there. Not much to do really. He used to fly-in and out every weekend working in London. He was having a fight with his wife who wanted to remain there whilst he couldn't wait to get back out. Superb golf player. Not much else to do I guess. You get the picture.

Unless ofcourse one has ones own LearJet or somefink...

 

[arabianights]

Atilla,

I am a Scottish country dweller at heart (I hesitated to say gentleman). Where others have nothing to do, I shall find something

 

[Atilla]

Atilla,

I am a Scottish country dweller at heart (I hesitated to say gentleman). Where others have nothing to do, I shall find something

Yes I remember. One man and his dog Time to unwind and contemplate.

However, for an intelligent mind like yours and coupled with your youth dear Arabian - I'm not sure it is ideal habitation for you. At least not yet. Why not have a long holiday retreat there to see how the shoe fits.

You need to engage and interact with the crazy world to bring some joy to all those around you imho.

I wouldn't worry about the tax man with your earnings. Remember, you've got to be earning to pay tax. You can always give it away to charity if you don't want the tax man to take it.

 

[libertas]

the debt isn't just gilts - a huge part of it is stuff like public sector pensions, which are almost all index linked...

Oh right, my apologies, I didn't realize you were including unfunded liabilities.

Yes these unfunded liabilities are HUGE problem. I think Trader333 had that right at £4.8trillion. Like new_trader says though by under-estimating inflation these liabilities can be gradually eroded.

It's my personal view though that the amount of inflation needed to make these liabilities 'disappear' is so large that it will be impossible to conceal from the general public. There is a time coming when the public will wake up to the fact that they aren't going to get what they've been promised and they're going to be as mad as hell. This is for both here and the US.

 

[arabianights]

I agree there are some possible issues, hence why I am not jumping in head first.

One point - I am from a rural background... I have countryside in the blood - for a decade of my life ELGIN was the big city... that makes more difference than one would think. What works for my household won't for everyone

Nevertheless, thanks for the thoughts

 

[scose-no-doubt]

I'm popping over to the isle of man in november with a view to moving there a few mponths later - did you know max rate is about 20% and they have a MAX INDIVUDAL TAX PAYMENT of around 150k? Not to mention no speed limit!

Since I don't live there yet I don't know if it's as good an idea as I think it is at the moment, but if it is how I imagine it to be, I can't understand why not everyone moves there...

Gibraltar has a better regime. I think it's 30k max per year for millionaires who purchase a permanent residence or something along those lines. Lower income tax too with tax deductible mortgage interest.

 

[MajorDutch]

Gibraltar has a better regime. I think it's 30k max per year for millionaires who purchase a permanent residence or something along those lines. Lower income tax too with tax deductible mortgage interest.

plus it has better weather, Morrisons and M&S for pre-packed salads.

 

[scose-no-doubt]

I was talking to a millionaire client who's doing the old residency tax dodge the other day and she said it's a sh*thole though.