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Another Storm brewing

gleneagles
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Another Storm brewing

Welby call on the more well off in society to pay more tax to help the young and poor.

No question in my mind that large companies such as Amazon Starbucks and the rest pay more but when it comes to individuals what is the definition of 'better off' ? in terms  of money ?

Tax for most of us is likely to rise if the NHS and a few other services are to be properly funded so I cannot see even more tax increases taking place without protest.

We are born into history and history is born into us.
8 REPLIES 8
artmo
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Re: Another Storm brewing

The highest earning 1% in the UK pay an estimated 28% of all income tax. How much would you have them pay?

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Champnet
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Re: Another Storm brewing

There’s a fine line between the high earners paying their due taxes or moving their wealth off shore and paying very little....

Jonpe
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Re: Another Storm brewing

The government could start by changing the law so that Starbucks etc. can't get away with paying so little tax to this country.  MPs have been well aware of this since Labour was in power, and if we can get out of the EU in less than three years, we should be able to make a minor amendment to tax legislation in a much shorter time.

The super rich Church of England is very good at telling its flock to give away their money while the Church continues to rake it in with investments in companies like Camelot.  To paraphrase the good book, let he who is awash with money give first.

 

gleneagles
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Re: Another Storm brewing


@artmo wrote:

The highest earning 1% in the UK pay an estimated 28% of all income tax. How much would you have them pay?

.


Many of the rich spend much of their time thinking about how much more money they can accumulate or ways they can avoid paying their fair share of tax, look at all these off shore accounts and Swiss bank accounts, I accept these have been acted on but it gives a clear idea of how many rich people think.

If you have 10 Million pounds in the bank exactly how much more money do you need ? Adding more to that figure is just greed.

 

We are born into history and history is born into us.
Champnet
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Re: Another Storm brewing

@gleneagles Have you ever met any of these Rich Individuals you seem to loathe ?

 

gleneagles
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Re: Another Storm brewing

@Champnet

No I don't loathe them, indeed I feel a touch sorry for some of them when you read how their lives have turned out.

As for meeting them, well I have no idea, often those who give the outward signs of being wealthy can often be in debt, whilst someone who has millions in the bank is hardly likely to confirm the fact to me.

Think about this......someone with millions buys a famous painting for millions, locks it away for a number of years then sells it again at a big profit, so by doing very little has made a considerable profit whilst some chap working hard each day on or just above the minimum wage is unlikely to earn the same amount of money in his (or her) lifetime.

Hardly seems fair to me.

Sometimes we accept things because, ' it's always been that way' but does that make it right ?

I am unlikely to be around to see it but there will be considerable social unrest if changes to the present system are not made.

We are born into history and history is born into us.
John_Hull
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Re: Another Storm brewing

The late Sir Terry Pratchett hit the nail on the head:

“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.

Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.” 
 Terry Pratchett, Men at Arms
Jonpe
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Re: Another Storm brewing

Is there a parallel here for those of us who sign up with a cheap ISP? Wink