Should billionaires and multinationals pay fair tax?

[carmanmemoranda]

Those poor 1%

Households, where the head was retired, are the wealthiest group, with a median average wealth of £489,300. To be one of the richest 1% in Great Britain, your household wealth needs to be at least £3.6m. The 10% least wealthy households in Great Britain have a household wealth of £15,400 or less.

 

[JohnD]

Motorbiking would have you believe that the ultra rich are treated harshly.

 

[carmanmemoranda]

Motorbiking would have you believe that the ultra rich are treated harshly.

Just to get the real figures into perspective.


Latest figures from Credit Suisse in 2021 show there are approximately 685,500 Britons in the richest 1%, with a total wealth of $3.4 trillion (£2.8 trillion). In comparison, approximately 48 million Britons, 70 per cent of the population, have a total wealth of $2.9 trillion (£2.4 billion). The four richest Britons - from the Forbes real-time billionaire list, as of 30th November 2022 - are.... They have a total wealth of $51.3 billion (£42.2 billion) compared with a total wealth of $46 billion (£38 billion) held by 20 million Britons.


ive removed the names. Who they are doesnt matter. The figures speak for themselves.

What would be interesting is to see how much (little) tax they paid. But according to those figures they should have paid around 50 of total tax income. But mbk admits a lot less than that was paid by a lot more than just 4

 

[JohnD]

Motorbiking will be disappointed that his attempts to sow confusion and doubt have not succeeded.

 

[Justin Passing]

Those poor 1%

Households, where the head was retired, are the wealthiest group, with a median average wealth of £489,300. To be one of the richest 1% in Great Britain, your household wealth needs to be at least £3.6m. The 10% least wealthy households in Great Britain have a household wealth of £15,400 or less.

That's not what I remember, but I can't challenge your source as I can't remember that one I saw!

 

[Justin Passing]

Motorbiking would have you believe that the ultra rich are treated harshly.

Motorbiking will be disappointed that his attempts to sow confusion and doubt have not succeeded.

Please do us a favour, shut up and go away. Find facts to challenge by all means, but your tiresome rule-breaking rhetoric is poor trolling.

 

[motorbiking]

Do they?

Others, like myself, want to see some of the loopholes plugged, and countries acting in co-operation to prevent assets being moved around to dodge tax.

Taxes are the price of admission to a civilised society.

I'm pleased to see you admit that every pound a billionaire doesn't pay, is a pound that poorer people have to chip in.

Loopholes. Like ISAs you mean?

And of course your assertion that every pound a billionaire doesn’t pay is a pound that poorer people pay is completely nonsense.

 

[motorbiking]

Seems to be the 1% is increasing too. Or the figure has gone up

Official government data has revealed there are 830 British people receiving more than a million a year, while over 15,000 are earning more than £150,000. Before the pandemic those figures stood at 650 and 13,400 respectively.25 Mar 2024

See wealthier people paying more tax under the conservatives. Who’d have thought.

 

[motorbiking]

Just to get the real figures into perspective.


Latest figures from Credit Suisse in 2021 show there are approximately 685,500 Britons in the richest 1%, with a total wealth of $3.4 trillion (£2.8 trillion). In comparison, approximately 48 million Britons, 70 per cent of the population, have a total wealth of $2.9 trillion (£2.4 billion). The four richest Britons - from the Forbes real-time billionaire list, as of 30th November 2022 - are.... They have a total wealth of $51.3 billion (£42.2 billion) compared with a total wealth of $46 billion (£38 billion) held by 20 million Britons.


ive removed the names. Who they are doesnt matter. The figures speak for themselves.

What would be interesting is to see how much (little) tax they paid. But according to those figures they should have paid around 50 of total tax income. But mbk admits a lot less than that was paid by a lot more than just 4

Irrelevant diversion. How does wealth equate to income tax. Keep up the good job you’re doing of being the forum idiot.

 

[motorbiking]

Just a reminder those with the lowest incomes pay hardly any income tax and the majority of income tax is paid by those earning £60k or more with 28% of all income tax paid by the 1% who earn £180k or more.

Hardly billionaires.

 

[carmanmemoranda]

Irrelevant diversion. How does wealth equate to income tax. Keep up the good job you’re doing of being the forum idiot.

Insults starting?

I wonder why. No. I know why

 

[JohnD]

Just a reminder those with the lowest incomes pay hardly any income tax and the majority of income tax is paid by those earning £60k or more with 28% of all income tax paid by the 1% who earn £180k or more.

Hardly billionaires.

Here's a funny thing.

People with the smallest incomes pay the least income tax.

Who could have seen that coming?

 

[diy_fun_uk]

Even if we taxed the rich more to raise another x billion, due to government incompetence, bureaucracy etc the actual socioeconomic benefits would hardly be noticed if at all.

Tax the rich more!! GRRrrrrrr!!! They have more than me!!!! Not fair!!!!!

 

[Notch7]

See wealthier people paying more tax under the conservatives. Who’d have thought.

wealthier people have got considerably wealthier under the Conservatives

poor people have got poorer under the Conservatives

 

[Notch7]

Even if we taxed the rich more to raise another x billion, due to government incompetence, bureaucracy etc the actual socioeconomic benefits would hardly be noticed if at all.

So does that mean we shouldnt tax the poor then, or squeeze benefit payments?

Tax the rich more!! GRRrrrrrr!!! They have more than me!!!! Not fair!!!!!

nobody is saying that

you seem to be desperately trying to close down the debate
why?

you still havent acknowledged that UK has much worse levels of wealth inequality compared to many Western economies, we have worse standards of living and terrible public services



do you not think we should be talking about why that is, or how we go about reducing it?


I have no problem with the very wealthy being very wealthy, I do have a problem with the fact that there are millions of people who work very hard but can barely afford to live.......a situation that has got much much worse in recent years and a situation that is much much worse than many other countries