Off Topic The Politics Thread
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Tories taking £20 a week from the poorest people in the country is very much the old order.
They're removing the uplift that came in to deal with the pandemic. If more is needed for the poor, deal with it in a different way once demonstrated. We've all been floating on a financial cloud during the pandemic, trying to stay well and dealing with those who couldn't - now the economic pigeons are coming home to roost and there's going to be hardship for all but the very rich.
The very rich pay a pretty hefty slice of tax now. If you crucify them, they'll leave the country for a tax haven. It happened to Labour in the 1970's when Dennis Healey said he'd tax the rich until their pips squeaked. Most of the left.
There's a case for taxing the Amazons and other multinationals though. Boris went to Jeff Bezos last week and asked him to agree to pay more tax. Bezos said he's not going to pay like a charity - it's up to government to tax his company legally. That should happen now.
Ah yes, you can't the rich because they don't like it. Much easier to take money off the poor.
Yes it should happen now. It should be relatively easy via the Digital Services Tax.
I agree with Stroller.
The argument about the rich leaving if they get taxed more is always one made by the rich themselves.
Time to call their bluff
The argument about the rich leaving if they get taxed more is always one made by the rich themselves.
Time to call their bluff
Labour killed the golden goose in the 1970's. The rich will do a Phillip Green or Lewis Hamilton, and you get less tax not more.
I think that's right, given the pandemic. Quite a few operate out of a low tax jurisdiction like Ireland. And the US tends to get difficult if it feels US companies are being put upon. There's a balance needed.
With respect we are not now in the 70’s. It’s a chance I’d be willing to take…..like the people who were gonna leave the country if we voted for Brexit….the vast swaves of industry that were gonna leave…..they didn’t. Nor, in my opinion, will the rich.
The very rich are different. They aren't some mouthy journalist that speaks from frustration. They run their lives by their accountants. They already have homes in other countries. They can move away, and their paper assets, for as long as punitive taxes last. That's what happened to Labour. In many ways, with the internet and zoom, it's easier for them to work outside the country.
Fair enough. But you don't have to win an election or preserve a party's reputation for financial competence!
In general the psyche of people, and specifically the Uber rich, is wrong. I mean, people should feel proud to pay tax and proud that the money they pay should be ploughed into schemes and public systems that benefit everyone and not just the individual.
When I was working in my previous job and earning very good money (through overtime), it didn’t bother me that I paid a higher rate of tax…didn’t bother me that I lost child benefit payments……’cos in my opinion it’s the right thing to do…..it’s how we help those less well off.
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Well, yes, but most people try to avoid tax if they can. Haven't you ever had an ISA or claimed some tax relief on your annual income tax return? The top 1% of earners currently pay about one third of all income tax.
https://www.theguardian.com/busines...-income-tax-revenues-institute-fiscal-studies
Increase rates at the top too high, and these people will either leave these shores, work less or find clever ways of not paying.
In the 1970's, the top rate of tax was something like 85%. When Thatcher got in, she reduced it and the tax take went up.
But that’s not the point I was making……and once again I’ll say it’s a chance I and many others would be willing to take.
Its a social duty for everyone to pay their fair share in tax, so that everyone benefits, including themselves, and it’s disgusting that so many of the very rich go out of their way to avoid paying such.