Should billionaires and multinationals pay fair tax?

[noseall]

you've been sniffing glue again.

Yacht varnish.

 

[festive]

Yes they should pay tax but only the same as everyone else, no they shouldn't pay a higher rate why should they?
There should be one tier of tax say 15%. The clue is in the 'percent' bit. The more you earn the more you will naturally pay as a percentage.
Current taxes of 45% and higher for upper tier earners is an absolute **** take disincentivising hard work.

Company tax rules are also a ****take, the term 'benefit in kind' and 'solely used for' etc are all terms that should be abolished, the taxman should just let live a little, so what if a car is used to allow someone who can barely afford a company car only then be penalised to take his/her kids to school with it etc.

 

[motorbiking]

Yacht varnish.

It’s not 1970.

 

[motorbiking]

show me your imaginary predictions that you hallucinated in your chemical-induced delirium.

were they in one of your fictional press releases?

I’m not a glue sniffer or a drug user, alcoholic or smoker. You are a liar

 

[Brigadier]

Current taxes of 45 and higher for upper tier earners is an absolute **** take disincentivising hard work

At least two issues with this.

1.hard work doesn't necessarily nor directly equate to high earning.

2. (relatively) high tax rates don't generally disincentivise people from striving to be in that bracket.

 

[JohnD]

I’m not a glue sniffer or a drug user, alcoholic or smoker.

But you agree that you post things that aren't true, don't you?

Like your repeated claims of a non-existent Press Release to justify your vendetta against a woman who is not a Tory?

Or your false claim that I published predictions of the last general election?

 

[JohnD]

Who said this?

your prediction that Jeremy Corbyn would win the last General Election.

 

[JohnD]

liar

Yes, it was him.

 

[Notch7]

I’m not a glue sniffer or a drug user, alcoholic or smoker. You are a liar

Your ex wife must’ve driven you to at least one of those

 

[noseall]

It’s not 1970.

Really? Some women hating chauvinists are still stuck there.

 

[motorbiking]

At least two issues with this.

1.hard work doesn't necessarily nor directly equate to high earning.

2. (relatively) high tax rates don't generally disincentivise people from striving to be in that bracket.

1. The impact of your hard work is not always physical. Plenty of the fund managers and fat cats that people here like to despise burn out.
2. It does incentivise them to find efficient ways to earn the income. For example: receiving bonuses as stock and being able to treat it as capital gain rather than income. That could mean a person on £100k + £200k bonus would have significantly less tax and NI. I know CEOs who take it to the extreme earning millions and still retaining their personal allowance.

 

[Brigadier]

1. The impact of your hard work is not always physical. Plenty of the fund managers and fat cats that people here like to despise burn out.
2. It does incentivise them to find efficient ways to earn the income. For example: receiving bonuses as stock and being able to treat it as capital gain rather than income. That could mean a person on £100k + £200k bonus would have significantly less tax and NI. I know CEOs who take it to the extreme earning millions and still retaining their personal allowance.

I already was aware of this: I was just sending a simple response to the post.

But I still stand by "hard work" does not directly equate to high income.
And I do not equate "hard work" to "sweat emitted" either.

 

[diy_fun_uk]

Using the thread title for reference, yes of course billionaires and multinationals should pay fair tax, we all should. It's the definition of 'fair' that folk have differing views on

 

[carmanmemoranda]

Most billionaires and multi nationals have very good tax specialists that know how to limit their taxes.

I woul prefer the tax system was overhauled and simplified and more tax collected.

Whether we like it or not, we need taxes, and the more that is (legally) avoided means more the rest have to pay

Nothing wrong with a higher tax rate on income over a certain figure. The debate is at what figure, and at what rate.

 

[motorbiking]

What about a lower tax rate for income over a certain figure on the basis that they have already paid 100 times more tax than the averge person? Can you really expect someone earning 2M to pay 1.1M in tax and not try to find a way to reduce it?

Perhaps it should start tapering back at say 300k. There are only something like 1/2 a million people who earn more than 200k. It would attract people living in other countries to bring their wealth to the UK.