The Labour Government

[Chippy_boy]

Tax these selfish bastards until the pips squeak.

As a matter of interest, do you think that should extend to footballers? And club owners?

Moving on, I do question why the likes of Elon Musk or Jeff Bezos feel the need to amass and retain billions. But I have no such animosity against anyone whose amassed a few million.

It’s really none of my business. I rarely give them any thought and if I do, I usually think, well done, good on you. (Unless it’s Morrissey or Russell Brand). You see I am not a bitter or envious person who resents others better off than me. I feel no need to key someone’s Porsche. If they want to give to charity that’s great. If not, well it’s their money. I think we need to tax people fairly, not call them selfish bastards and rob them “until the pips squeak”. The well off in the vast majority, already pay more than their fare share IMO. It’s not like we have a linear taxation system. The top earners already pay 45% tax on their income whilst the least well off pay 20% on a smaller amount to start with, and get benefits as well sometimes. The top earners pay 10x, 20x, 50x more tax and get fuck all back in return but of course in many eyes on here, no amount is “enough”.

 

[johnnytapia]

Completely agree. The sustained increase in property values has created enormous wealth among a certain class of people who have had little to do with that outcome. That metric has created an egregiously unfair inbalance in our society between the generations that desperately needs tackling - and the only feasible way that can happen is to tax those assets in a way that isn’t currently in force.

Taxing those assets will make a gossamer-thin difference.
Building affordable housing (by the millions) would be much more efficient. And effective. IMHO.

 

[The Future’s Blue!]

Completely agree. The sustained increase in property values has created enormous wealth among a certain class of people who have had little to do with that outcome. That metric has created an egregiously unfair inbalance in our society between the generations that desperately needs tackling - and the only feasible way that can happen is to tax those assets in a way that isn’t currently in force.

As an example, a few years ago I worked out that I’d paid approx 90 grand in mortgage payments over 14 years and still had about 70 grand left on my mortgage. That’s 160 grand and with a predicted sale price of 280 grand I was quids in to the tune of 120 grand.

Reality being that it was a huge saving plan where my 90 grand outlay made me 120 grand, meaning I basically paid fuck all for my accommodation over that period, taking inflation into account.

 

[Postman Pep]

 

[Churchlawtonblue]

Google is your friend.
It’s probably enough to say that Adam Smith was probably Margaret Thatcher’s favourite philosopher and economist.

Its the friend of many on here for sure. But I think the statement is nonsense and irrelevant.

 

[gordondaviesmoustache]

View attachment 129777View attachment 129778

Why is Richard Briers stood near a dystopian looking Big Ben?

 

[gordondaviesmoustache]

Taxing those assets will make a gossamer-thin difference.

Depends how, and how much.

 

[Postman Pep]

Why is Richard Briers stood near a dystopian looking Big Ben?

The Good Life in ever decreasing circles?

 

[Chippy_boy]

Depends how, and how much.

No, not really. There are not enough super rich and anyways the super rich are extremely mobile and have huge flexibility in how they can manage their affairs to minimise their taxes. If taxation becomes too penal, they bugger off, leaving those of us on moderate incomes left behind having to pay even more.

From CNN: “The continuing exodus from the UK — 16,500 millionaires left between 2017 and 2023 — is part of a global mass migration of the rich that appears to be accelerating. The Henley Private Wealth Migration report found that 128,000 millionaires are set to relocate this year, beating last year’s record by 8,000.”

“Of the 15 places with most resident millionaires, the UK is suffering more than most — only China will lose more HNWIs (15,200) in 2024”

 

[johnnytapia]

Depends how, and how much.

I think you could raise inheritance tax to “eye-watering” levels and it would barely shift the needle in terms of revenue.
We all seemingly want Nordic standards of healthcare etc with US income tax rates. Alas East is East, and West is West, and never the twain shall meet'.