Squeezing you for EVERYTHING

Added: 2026-05-30

[00:00:00]B, we are being ruled over currently by fiscally [ __ ] morons.

[00:00:08]>> Yeah, I think >> that's fair to say, isn't it really?

[00:00:11]>> Yeah.

[00:00:13]>> What specifically are you referencing?

[00:00:15]Because of course, >> that's true.

[00:00:18]>> In another absolutely blinder of a decision, Rachel Reeves is poised to tax cash held in stocks and shares.

[00:00:29]ISIS. So, >> what?

[00:00:32]>> Yep.

[00:00:33]Yep.

[00:00:34]>> I thought the whole point of an IS go on >> just tax everyone to oblivion. So, we're we're just well and truly in this economic doom loop at the moment. It you have to get these people out. Labor has to get out. The Tories have to get out.

[00:00:53]Reform have to get out. This entire status quo needs to be ripped apart.

[00:01:00]You're taxing people to pay for a a burdened mammoth welfare state, which the pension is part of that. Young people are told to to to save their own money. Now they can't save their own money because they're going to tax their savings as well. It's insane. Do you want people to save for their own retirement or not?

[00:01:25]It's really that simple, isn't it? Do you want to get off the drug that is the welfare state or not?

[00:01:31]>> Apparently not. Apparently, they don't.

[00:01:33]>> And it's just is this type of punitive action because it's really what it is. I mean, is it's really really it's quite petty doing stuff like this because you're not going to make that much money overall. It's this type of punitive action that will just see Brits fleeing in their droves more and more >> and more. And I don't mean the new Brits, okay? I mean the the real Brits, >> right? People that actually, you know, have a stake in this country properly.

[00:02:01]They're just going to abandon it. Why the [ __ ] would you stay here based on stuff like this? You get no future, no money. You can't do anything. The whole place is dangerous. It's if you're really pushed to your limit and you see no hope for a future, this could be the cherry on top that just makes you leave.

[00:02:19]It's, you know, could make you leave.

[00:02:21]I'm not suggesting you should leave, but >> I can, you know, I can just see I can see it. I can see more people leaving.

[00:02:26]So, >> it's insane. Let's get into a little bit of it, right?

[00:02:31]>> Can I say a couple things? Yeah. Yeah.

[00:02:33]completely agree with you uh on like the border point uh and and yeah the thing of do they want you to save for your old age or not? Well well no because they're socialists they want you dependent on the state don't they?

[00:02:48]>> They want an all powerful state that dominates and controls every aspect of human life. And the other thing to say for people who might not know, I don't know if it's going to be in this article, but what an ISA is, some people in foreign countries or even people in this country that have never had enough money to ever save might not even know, >> right? An individual savings account.

[00:03:08]Well, I worked in asset management in my the first half or so of my career pre Loita's career dealt a fair bit with cash is and stocks and shares is mainly stocks and almost entirely stocks and shares is the whole point of an ISER is that you're not taxed on it. That's the whole point of it. That's the entire reason for it because you can only put a certain amount in it. Even if you've got millions of pounds, you can only put certain amount just a few grand.

[00:03:35]>> I can't remember what the limit is at the moment. used to be like 12 grand. I don't it's probably more on that now.

[00:03:39]But you can put a certain amount in it each year and you don't have to pay capital gains tax when it goes up. And if you got if you've got a stocks and shares version of that and you make decent money on it, it's taxree. That's the whole point of it.

[00:03:54]>> Just a little bit. The idea is just it's just a little bit of a release valve from constant constant taxation on everything often more than once.

[00:04:04]>> That's the whole point. Oh, so now, >> so now even an OSA.

[00:04:10]>> Yeah, it's insane. So the money that you that you've got to put that, you know, to to you've earned money, you've been taxed, but you've earned some money, so you put it into an ISA. You're doing smart thinking, right?

[00:04:26]>> Prudent. Okay. A bit of prudence for the future.

[00:04:29]>> Yeah.

[00:04:30]>> And you've already been taxed.

[00:04:34]you're going to get taxed again on money that you've already been taxed. But it's not because really you're being well, you are you're being taxed on the benefit of having money that you'd already been taxed on making some money for you.

[00:04:47]>> Yeah, >> it's insane. Well, I'll just read some of this, right? Rachel Reeves is poised to introduce a 22% charge on interest earned from cash held in a stocks and shares is I presume that's percent unless it's >> Yeah, it would be.

[00:05:02]which is a lot. 22%.

[00:05:05]>> If it was If it was five or 10% I'd be that's a bit of a piss take.

[00:05:10]>> Yeah. 22%.

[00:05:11]>> 22%.

[00:05:13]>> Rachel thieves. Yeah. What aft sponsored theft.

[00:05:20]>> Yeah.

[00:05:22]Um it's a 22% uh charge on interest earned from cash held in a stocks and shares ISA under reforms to take effect next April. Savers under the age of 65 will have their cash ISA limit cut to just £12,000 from April 6, 2027, although they will retain their full 20 grand ISA allowance via a stocks and shares Iser. The Chancellor confirmed the move in her budget last year, which I didn't actually see this to be fair, supposedly in a in a bid to boost UK investment.

[00:05:52]>> What?

[00:05:54]>> Oh, she's such a [ __ ] [ __ ] I don't know.

[00:05:56]>> That doesn't make any sense. Sorry. Go on. Yeah, but little little has been known about the details of how the new regime would operate as part of the anti-ircumvention rules. Basically, don't earn any money without us taxing it rules.

[00:06:10]>> Yeah, >> that's all that is, right? That's that's that is literally what that is.

[00:06:15]>> Set to be announced imminently.

[00:06:16]investors, normal people, will face a 22% charge on interest earned from cash held in stocks and shares ISIS from April 2027. Sources familiar with discussions told the Telegraph. Uh the charge is reminiscent of the pre204 ISA regime when cash interest earned in stocks and shares ISIS was subject to a 20% levy.

[00:06:38]Shouldn't be subject to any levy. It shouldn't. We've got the highest tax burden in history.

[00:06:45]>> Yeah. And it's not going to go up. It's not going to help. All right, we're at we're at that curve already, right? It's the the laugher curve. It's been hit.

[00:06:53]It's all going to go down from here. I bet you anything. Uh the new charge would align with the rate of savings interest tax, which will increase to 22% in April 2027. So, just again, more tax.

[00:07:04]By the way, HMRC had previously said that anyone holding cash in stocks and shares accounts from this date would face a charge on interest, but had not confirmed the rate at which this would apply.

[00:07:18]You know, the broader point is like is this really where socialists think even if you're not a wealthy person, right?

[00:07:27]So I I'll just quickly say I'm not a financial adviser. I would have to say that hundreds of times in my life. I'm not a financial adviser. So uh don't take me to court if you follow my advice. I am not a registered chartered financial adviser.

[00:07:40]But if you've got a little bit of money to save, put it in an ISER, a cash or stocks and shares iser. Why not?

[00:07:47]>> Why not? There's literally no reason why not. It's a little bit of haven. A little bit of haven for your money if you're ever lucky enough to find yourself with like money to spare, which most people aren't. Um but this right the broader point is this is that socialists think they think that you whoever you are everyone don't you dare hold wealth don't you dare have any money right all the money should by rights belong to the state will let you have money if anything will dole out a little bit of money to you and you be grateful about it don't you dare think about calling wealth, you filthy capitalist, you goddamn koolak.

[00:08:36]That's how they think, right? So someone like is so someone like Rachel Reeves, this is fine. This is absolutely fine.

[00:08:43]>> Yeah. Yeah. Well, so that point's actually per that that that is a point well made quite literally by the Treasury spokesperson.

[00:08:51]Quote, we are reforming the cash iser to encourage more people to invest in stocks and shares. May not. We have historically performed better than cash savings which have historically performed better than cash savings and we have retained the generous £20,000 taxfree limit. Oh, it's generous, is it?

[00:09:10]You're not going to tax me on my [ __ ] money >> that you've already taxed me on. [ __ ] off.

[00:09:15]>> Yeah. Yeah.

[00:09:15]>> It's not generous of you to not take my money, you [ __ ] >> Yeah. Yeah.

[00:09:21]>> That's not generous. Oh, sorry. You're not being evil. Oh. Oh, thank you. Thank you so much for not being morally reprehensible douchebags. Oh, thank you.

[00:09:30]Oh, I do. I was so generous of you to not steal my money.

[00:09:35]>> Yeah. Yeah. Good point. Yeah. What an insane statement.

[00:09:39]>> Thank you for allowing me to save up to 20 grand a year without it being robbed out of my pocket to a large degree. Oh, yeah. That's so good. That's so kind and generous of you. One other thing there, one other thing there. Can I just say in that statement where it says historically stocks and shares uh isers uh you get a better return or they're better investment than a cash one. No, that's not how that works. Sorry. No, I know quite a lot about ISIS.

[00:10:02]Specifically stocks to shares is that's not how that works at all. No super risky.

[00:10:08]>> Yeah. Yeah, if you invest in a stock to shares, there's a myriad of different things that will be invested in for you or you can choose often you can choose >> at different levels and they may or may not perform well.

[00:10:21]>> If you put your money in a stock to shares iser and it and it's it's a bearish market and there's a massive collapse, then your stock to shares iser will lose money.

[00:10:31]There's no guarantee past performance is no guarantee of of future profits or whatever. So that doesn't that's [ __ ] as well. H >> Oh, they're insane.

[00:10:42]>> They're absolutely insane.

[00:10:44]>> Yeah. So, I mean, I don't have much else really to say to this to be honest. We are in the economic doom loop as I have said before. I mean, I said we're on the precipice of it before or we were or something along those lines. I kind of lose track a little bit of the dumb decisions they're making. But you know broader step back from this and look at every other instance of taxation that is coming in every other instance uh of the government interfering in your day-to-day life. We're [ __ ] basically to to be completely frank. You know you had Rachel Reeves trying to ask the government uh trying to ask supermarket bosses to bring in a price cap. That's mental. Whilst now it also was revealed over the last few days that they're also now going to be taxing supermarket chains a little bit more as well. Well, sorry. So, you're going to be taxing them more. You're bringing in another tax whilst you're asking them to do a price cap which will collapse a a chain supply. Brilliant. You're [ __ ] was flooding the country with third worlders and putting them up at my expense.

[00:11:54]>> Mental economic doom loop.

[00:11:56]>> It really is.

[00:11:57]>> And and this will only lead to more people on welfare.

[00:12:02]All of this will right every single step of the way.

[00:12:08]More people on welfare, more taxation, a huge welfare bill, state handouts, awful