Should billionaires and multinationals pay fair tax?

[carmanmemoranda]

I'm not making anything up. It mostly comes from the same place (conscious or subconscious jealousy.)

It's not though.

It's 1 thing to say high earners are too heavily taxed. But where is that tax going to come from?.

It's not jealousy, it's just the obvious. Somebody else, that earns less, will have to pay more, to allow the big earners not to.

 

[carmanmemoranda]

All earners should pay a fair amount.

Has it ever occurred to you that much of the tax take is p1ssed against the proverbial wall by incompetent government and local councils.

That's a separate discussion.

And yes fairness is the thing. What's your proposal?

I'd like to see some loopholes tightened up

 

[diy_fun_uk]

It's not though.

It's 1 thing to say high earners are too heavily taxed. But where is that tax going to come from?.

It's not jealousy, it's just the obvious. Somebody else, that earns less, will have to pay more, to allow the big earners not to.

How much more than 45% should the rich contribute in tax?

 

[carmanmemoranda]

How much more than 45% should the rich contribute in tax?

Where did I say it should be increased?

I'm saying it's fair to have a higher rate of tax over a certain income. As it is, now.

 

[denso13]

Has it ever occurred to you that much of the tax take is p1ssed against the proverbial wall by incompetent government and local councils.

That's a wild exaggeration with no basis in fact.

 

[Brigadier]

I'm not making anything up.

(Continues to make stuff up).

It mostly comes from the same place (conscious or subconscious jealousy

 

[diy_fun_uk]

That's a wild exaggeration with no basis in fact.

Ha Ha Haaaaaaaaaaaaaaaaaaaaaa

 

[Brigadier]

That's a wild exaggeration with no basis in fact.

You must be new here.......

 

[diy_fun_uk]

(Continues to make stuff up).

Of course you're going to say I'm making it up, because the masses don't want to admit this is often the basis for their stance.

 

[motorbiking]

"Assuming" is doing a huge amount of heavy lifting, right there: pretty much everyone I know, as an example, who has their own business has their partner as a director (even if they spend all of their time shopping, golfing, or in the hairdressers), and their RRs and Porsches "through the company"............

SO, your back-of-a-fag-packet sums are likely way out, before you even start.




Bother with what? Your point is not at all clear.



Just saying it is a "fact" doesn't make it so.

A basic rate payer has little-to-no opportunity to reduce their tax obligation.
Someone on £300k has a lot of avenues to do so; you acknowledge this yourself, in the same paragraph:



Which is all perfectly legal.


And, all of your points are moot anyway, as the title of the thread was about fair tax.
The people you're advocating for are the same people you have repeatedly said will sling their hook if they don't like it.
And yet, they're still here...........

No you are getting confused with the source, which is not unreasonable since I didn't post it again. The numbers are based on actual Tax Stats, which are published. So these are people who "Earn" £300k for example as PAYE. Not business owners who "Earn" 50k and channel 300k efficiently.

There are plenty of industries where 200k+ PAYE is the norm for mid level jobs.

Someone on 25K PAYE is paying £2,5k income tax, someone on 250k is paying 100k income tax. 40 X more.

There are 2.7M ex-pats working in Dubai and that is just one place. There are at least 1/4 Million. British Expats working in Dubai for tax reasons.

It is for this reason the strategy of a global tax agreement - is going nowhere. The UAE will never agree for a start.

 

[diy_fun_uk]

Someone on 25K PAYE is paying £2,5k income tax, someone on 250k is paying 100k income tax. 40 X more.

Don't type something like that, it doesn't align with the 'pay more!' mob ...

 

[motorbiking]

I've always found that receiving lots of money, and paying some tax on it

is greatly preferable

to getting very little money, and paying little tax. Motorbiking pretends to disagree

He prefers the notion of getting lots of money, and paying very little tax.

The person receiving lots of money is paying more tax and proportionally more tax and the person earning little money is paying very little tax and proportionately very little tax.

So your argued is toast.

I prefer the notion that its better to be attractive to higher earners who lets face it pay all the taxes, rather than seeing it lost to places like the UAE.

 

[motorbiking]

It's not though.

It's 1 thing to say high earners are too heavily taxed. But where is that tax going to come from?.

It's not jealousy, it's just the obvious. Somebody else, that earns less, will have to pay more, to allow the big earners not to.

think outside the box. Millions is lost to brits working in the UK economy living in tax heavens or lower tax countries. £19Bn in lost taxes for British ex-pats living in Dubai. That is just one example.

When Labour get in, we will be back to 55% tax and a whole raft of employee rights that mean the UK will no longer be one of the best places in Europe to hire. taxes will go up - receipts will come down.

 

[JohnD]

The person receiving lots of money is paying more tax and proportionally more tax and the person earning little money is paying very little tax and proportionately very little tax.

A person with very little income may have hardly enough to live on, possibly even less. He is incapable of paying much tax and may in fact qualify for assistance.

The person who receives or gains millions will not be reduced to poverty by paying some tax.

For Council Tax, the person with a modest house pays a higher proportion of its value, than the person with a multimillion pound house.

 

[JohnD]

When Labour get in, we will be back to 55% tax

Wrong.