Chippy_boy
Well-Known Member
For me the issue is not so much whether the super rich pay their taxes or not. The big issue is whether they spend enough of their money.
If you redistributed all Branson's money to the poorest million in the country they would probably spend all of it. In pubs, shops, restaurants etc
This is good for the economy. Branson has so much money he can't spend even a fraction of it. The super rich stockpiling money is not good for the economy and this is why the sort of inequality we are seeing now is counterproductive.
Inheritance tax is 40%. Which is why the National Trust owns most of the stately homes in the country. Eventually no-one can afford the inheritance tax bill and they have to sell their homes.
You can hoard your money all your life, but in the end the state gets its 40%, and than 30 years later when your kids diem they get 40% of what they have. etc. Seems about right to me.
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