Billionaires pay "0% - 0.5% tax" report finds - Suggests 2% minimum tax.

Mason- said:
It’s created plenty of jobs. Booksellers and game shops are outdated. Consumers vote with their feet and want convenience, see butchers, bakers etc vs supermarkets.
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I don't think bookshops are outdated at all. People love them. They've just had to evolve and adapt, there are fewer, for sure. But the better ones in the right areas are fine. I can recall when people also said "Books are outdated?" when Kindle's arrived, that proved to be totally false as well. Again, same thing with vinyl, which would die off and CD's would reign supreme, what happened? Vinyl very much alive and kicking - CD's - completely dead.

Both vinyl and books offer intrinsic value as objects, they are evocative. CD's in the little olastic cases and the scrap of paper for a sleeve, can't compete with a record and real cover art and a gatefold sleeve, neither can a Kinder replicate the feeling of having a book. It's the same thing with bookshops vs Amazon.

Amazon offers a cheap and convenient way to buy books, it does not offer a quality browsing experience, it does not offer somewhere to meet friends and have a coffee.

People value different things, that's why bookshops, books and vinyl remain. As for Bakers, I'll got to my traditional family run local every time, and pay a bnit more rather than subject myself to Greggs and their disgusting baked goods.

Why do you think there are so many independent coffee shops and cafe's? Because are willing to pay a little more for a better experience than the Corpo run chains like Starbucks etc
 
Wealthy people who take out loans instead of selling assets, do it because they believe their assets will return more than the interest rate on the loans, which until now were at or below inflation.

People who assumed it is to avoid tax, have thought that way due to a lack of common sense.

That's what communist/parasite ideology does to your brain, among other things.
 
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I'm slightly surprised at the general support for the super rich in the forum.
I know there are quite a few rich members So I'm not totally surprised. But it shows how we get the tories in again and again.

I'm not sure if it's people who earn over average, seeing themselves getting to that status, or that if it hurts billionaires it might hurt them, or that capitalism is so embedded we should celebrate the billionaire's success and thus punish the poor.. But it's obvious there's more support for the mega rich than I expected.

Especially due to the (apparent) hate against tories in most threads.


This thread has been particularly interesting gathering together of opinions
 
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2% tax on wealth is a sound idea.

Tho we are know what will happen is that they will simply hide their wealth amongst a web of shell companies.

The rich people get rich and they don’t want to share. That’s the hard truth and the only way to make it fair maybe is hard reset.

Viva Le Revolution.
 
plasmahal said:
Please explain why multiple Labour governments have not sorted the tax system?
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I agree. I'm not a Labour supporter either. They are tory lite.

Tbh. I don't really have anyone I support in our parties.

But it would be hard to tax rich people as a sole country due to how international rules work. Unless its global.. Or we make fundamental changes to the monetary system, it won't work.

Charge too much wealth or Corp tax and they just leave.


No one needs billions. No one. Not when billions of people have nothing.
 
Its really not that hard to tax people or companies properly. Companies won't leave the UK as a result. Unless you tax them to the point its not worth being here then they won't move. The reason they would move is if they were still allowed to operate as they wish here, make the same amount of money and pay even less tax by moving part of the business abroad.

Companies worth billions don't cut off their noses to spite their faces. Amazon wouldn't leave the UK if they were forced to pay more tax.
 
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Caracus2k said:
Yet again people don't seem to get the difference between 'wealth' taxes and taxes on earnings.

Taxing unrealised and often quite volatile 'wealth' is an extremely stupid idea.
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Whats your financial training in order to be able to make statements like that.
As an accountant I fully support wealth taxation and believe a combination of wealth and income creates a far better environment

Some element of wealth is transient and volatile sure. So the tax on the wealth would also follow the same path.
 
413x said:
No one needs billions. No one. Not when billions of people have nothing.
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But they don't have billions! That's the point. That's just the theoretical value of their stake in a company. If they sold the lot to get actual billions in cash, the value would plummet and they wouldn't actually receive anywhere near the amount.

So are you saying no-one should be allowed to own that amount of shares in a company ? Why should someone be forced to sell their stake in their own company ?
 
413x said:
I'm slightly surprised at the general support for the super rich in the forum.
I know there are quite a few rich members So I'm not totally surprised. But it shows how we get the tories in again and again.

I'm not sure if it's people who earn over average, seeing themselves getting to that status, or that if it hurts billionaires it might hurt them, or that capitalism is so embedded we should celebrate the billionaire's success and thus punish the poor.. But it's obvious there's more support for the mega rich than I expected.

Especially due to the (apparent) hate against tories in most threads.


This thread has been particularly interesting gathering together of opinions
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There's always plenty of *****, where there's plenty of brainwashing, if you're quite weatlhy I can understand you defending your interests but the people earning 40K who think they're Elon Musk always make me laugh.
 
Apex said:
There's always plenty of *****, where there's plenty of brainwashing, if you're quite weatlhy I can understand you defending your interests but the people earning 40K who think they're Elon Musk always make me laugh.
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And there’s also plenty of ignorance!
 
Nutty667 said:
But they don't have billions! That's the point. That's just the theoretical value of their stake in a company. If they sold the lot to get actual billions in cash, the value would plummet and they wouldn't actually receive anywhere near the amount.

So are you saying no-one should be allowed to own that amount of shares in a company ? Why should someone be forced to sell their stake in their own company ?
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Anyone who has billions in any capacity is fantastically wealthy. It doesn't matter if its largely tied up in a company. They can release huge sums of money from that without tanking the company's value.
 
fez said:
Anyone who has billions in any capacity is fantastically wealthy. It doesn't matter if its largely tied up in a company. They can release huge sums of money from that without tanking the company's value.
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Of course, and at the point they do, they end up paying huge amounts of tax on it.
 
Nutty667 said:
So are you saying no-one should be allowed to own that amount of shares in a company ? Why should someone be forced to sell their stake in their own company ?
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No?

Amazing all these billionaires who don't actually have any cash yet manage to fund extremely lavish lifestyles.
 
Mercenary Keyboard Warrior said:
Whats your financial training in order to be able to make statements like that.
As an accountant I fully support wealth taxation and believe a combination of wealth and income creates a far better environment

Some element of wealth is transient and volatile sure. So the tax on the wealth would also follow the same path.
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I would thought that as an accountant your customers would expect you to steadfastly try and minimise their taxation liabilities within the law, not be aspiring to tax the wealthier ones further. I think some of them might be rather horrified by your views unless they are a very niche bunch :)

I have always tried to fraternise with the wealthy and try and learn some of their ways to success. Whilst money doesn't necessarily make one happy, it sure as hell makes misery much easier to bear!
 
200sols said:
No?

Amazing all these billionaires who don't actually have any cash yet manage to fund extremely lavish lifestyles.
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They have some cash yes. That's what they live on, instead of an income.

Musk for example has about $4bn in cash, yet his wealth is around $250bn. So only about 1.5% of his wealth is actual money. If he's force to pay 2% each year on the wealth, he will have to continually sell his shares to meet that, to the point in which he no longer will be able to run his companies. That's just daft.
 
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