Rory Bluelow
Well-Known Member
- Joined
- 4 May 2014
- Messages
- 3,505
By the way, should any billionaires be reading this stout defence of their privilege, donations or gifts are always welcome.Billionaires are pretty few and far between (especially these days) - to listen to the far left you’d think there’s a billionaire on every street corner fucking people over ! It’s “billionaires this” and “billionaires that”.
Apparently the UK had 55 in 2024 (US$ billions) according to the Scotsman newspaper - left wing think-tank put the number at 156 but I always suspect data from dedicated activist organisations.
The reason they pay little tax is simple - our taxation system is designed around taxing earnings from employment, property, investments and capital gains. Companies can offset their taxation by investing in their business so a fast growing business pays often zero tax. Billionaires or the very wealthy pay themselves a notional salary (I think Bezos pays himself $80,000pa), they leverage their wealth by borrowing against assets and avoid selling assets which would crystallise CGT liabilities. Unfortunately I can’t speak from personal experience. I do agree with your point about nurses etc. Our taxation levels are ridiculously high but billionaires are not the cause nor the solution.
Please DM me to learn more :)