If you’re dumb enough to purchase a house you can’t afford, that’s your shoddy investment decision. If you purchase five of the fucking things as your retirement plan, you deserve to crash and burn. I’m ecstatic.
They’ve been expecting bailouts since negative equity became a thing since – guess what, you can’t just borrow off your house three times and expect the market to account for your mistake like shaking an Etch a Sketch. They’ve been deliberately screwing over the young poor with ridiculous renting charges, plus additional charges like the airports, even being as mean as to keep deposits every single time knowing tenants can’t afford to contest it in court and pumping up demand higher because of the immigration policies they voted in. 150% is actually too low for these fuckers, who want Communism – but to cost somebody else. Somebody younger. Not them.
All higher-rate taxpayers who own buy‑to‑let properties on which there is a large mortgage will pay substantially more tax. Some current basic-rate taxpayers will also be hit, because the change will push them into the higher-rate tax bracket.
They said the rich needed to pay their fair share.
They didn’t know they were the Rich.
Those who are worst affected will see:
● the actual tax they pay on their investment rising twofold or more;
● the tax rate payable rising above 100pc, meaning that more than all of their profit is paid in tax;
● a degree of tax that pushes them into loss, making their investment financially unviable and forcing them to increase rents sharply – or sell.
It was never viable from the moment they signed and they knew it. The markets won’t take further increase, that’s how much they’ve bled us dry. It’s actually impossible. Even in London.
They have to sell.
What is also becoming clear is that worst hit will be those modest, middle-class savers who have prudently chosen to invest in buy‑to‑let, often alongside pensions and Isas, as a means to supplement their income.
Bullshit. Utter bullshit. Here’s what they actually did.
They manipulated the market to get free tuition, high wages, cheap mortgages and buy when it wasn’t feasible for them and they knew it. They bought up the markets deliberately cutting out Gen Y to charge us ridiculous prices as a monopoly and this is the correction.
The Government is bigger than you, Boomers.
The Government is treating them like adults for the first time in their lives.