Taxing the elderly proposal

Presumably my DC and DGC will not be eligible for this £10,000 as none of them are 25.

Rather like the shingles vaccination lottery then.

Having an expensive house is not the same as having a large income. Many of us have the seen the value of our houses increase while our incomes stay static.

The answer, and I say this tongue in cheek, is to increase mortgage interest to the rates we paid, lets be conservative and start at 10%. House prices will plummet. Quite a lot of people will find themselves in negative equity, but this happened to many of us in the 1980s and 90s.

How happy the younger generation will be, much cheaper house prices - but they still will not be able to afford them because the cost of mortgages will soar and they will then understand why we were able to buy our houses so cheaply.

I mean 300,000
as in owning a home of that value..for example!

how would this even work?

would it be regionalised? Because a "wealthy home owner" in one region is not so peachy in another!

eg £300 will get a fancy detached multi bed/bath home in one region (with great scope to comfortably downsize if needed) or a pokey terrace in a bad area in another, so people there are not "sitting pretty" at all!!

Eglantine, you're right that it's not just the young (or rather some of them) who expect everything handed to them. I know one oldie who, despite having a huge amount of money in the bank, expected to have mobility modifications to his house 50% paid for by the council.

And no, he hadn't paid loads of tax over the years, since he'd spent most of his working life overseas, enjoying tax free salaries.

More than once he also stockpiled dozens and dozens of free prescription items, all of which were eventually thrown away.

Would they have to save this £10,000 towards the future purchase of a property?

If there were no restrictions on the use of the money then many would just spend it all in a very short time.
And before anyone jumps on me and says that I am guilty of ageism - I know many younger people who would have done that, along with plenty who would not.

I’m more than happy to continue paying National Insurance. If they took 10% of my income it would not cover the benefit I have had from the National Health Service n the last 12 months.

If they took all of my income for the rest the of my life it would not cover the cost for f treating my husband in the last 10 years of his life.

The young are not the only ones who expect everything to be handed to them. Somebody has to pay!

Bloody hell - the ageism on here is truly mind blowing.

They seem to want everything handed to them today, have three or four children and expect the childcare etc to be paid for, fed at school, tax credits.
We never had any of those things and had to work to keep our family. Both of us worked, I still am, and have always paid our way - if we couldn't afford something we went without.
I don't know why it's said we are supposed to be so well off, a small minority may be but the vast majority of pensioners struggle to pay the bills the same as these young people.

We also took 4 years to save enough for a deposit. also postponed children until we had a house. My main gripe is though because of the Equitable Pensions scandal my family have lost a lot of pension. We have contributed enough.

We had second hand furniture for a few years and also we were married at least 4 years before we could afford a holiday. Our honeymoon was in Kent, not the Maldives. It was all that we could afford. Our first car before we acquired a company car cost around £25. We had to save and wait.

We're sitting ducks! I don't think it fair at all.
Things have changed 'since our day'.
In the 'olden' days we were perhaps more prepared to wait for things rather than get into debt. We were also perhaps more prepared to make use of non fashionable items - today it's called 'vintage'.
There's also an expectation that everyone should own a property. It took us ages to buy our first house - we were rent payers for quite a while. I don't see anything wrong with that either and it's the norm - or it was? - in Germany.
Is it me or can't young people 'wait' for things these days
We saved for what we wanted
Also society has changed / evolved but our services have stayed fairly still which means we're trying to fit into something that no longer works for us
When I was working we had something called 'long term planning'!!!!
Taxing older people is an easy option!!!

www.gransnet.com/forums/news_and_politics/1247686-Redistributing-wealth-between-the-generations

There’s a thread on this already