Tory Leadership Race

[motorbiking]

LOL Your were not supposed to read hat.

Plenty of links in the article and plenty of other sources for you to ignore.

 

[motorbiking]

However it is highly relevant to the significance of inheritance tax.

The average person will not receive a million-pound inheritance. Those who do have usually inherited a house, and it is very common for tax to be deferred until it is sold.

The person who inherits a multi-million pound business is the person you are talking about.

He will not gather much agreement if he claims that his windfall has made him poorer.

Different words, same argument.

The fact is, no matter how much you hate the idea. The rich will leave if you over tax them. Many have already voted with their feet. Some don’t see the impact it has on everyone else, because they like to pretend the wealthy make no contribution to the wealth of the country, just their own pockets.

Of course it’s left wing nonsense. Britain has been attracting millionaires for decades and benefits hugely.

 

[Odds]

Different words, same argument.

The fact is, no matter how much you hate the idea. The rich will leave if you over tax them. Many have already voted with their feet. Some don’t see the impact it has on everyone else, because they like to pretend the wealthy make no contribution to the wealth of the country, just their own pockets.

Of course it’s left wing nonsense. Britain has been attracting millionaires for decades and benefits hugely.

The LSE published the final Wealth Tax Commission report in December 2020, with the recommendation that, if the government chooses to raise taxes as part of its response to the COVID-19 crisis, it should implement a one-off wealth tax in preference to increasing taxes on work or spending.
A one-off wealth tax on millionaire couples paid at one per cent a year for five years, we found, would raise £260 billion.

The richest 1% of Britons hold more wealth than 70 per cent of Britons

The richest 1% have pocketed $26 trillion (£21 trillion) in new wealth since 2020, nearly twice as much as the other 99 per cent of the world’s population, an OXFAM report reveals today.

Wealth taxes have huge popular support: 78% of people in the UK support higher taxes on those who own assets worth over £10 million.
Tax Justice.uk

 

[motorbiking]

It’s a nice piece along the same lines as JohnDs chipping in.

Of course people think those richer than them should pay for the things they need but those paying don’t need. We can all justify why we can’t afford more taxes but the wealthier can. It ignores the fact that wealthy people are highly mobile.

Our new government do appear to be listening to feedback that their tax proposals will cause lasting damage.

 

[Odds]

It’s a nice piece along the same lines as JohnDs chipping in.

Of course people think those richer than them should pay for the things they need but those paying don’t need. We can all justify why we can’t afford more taxes but the wealthier can. It ignores the fact that wealthy people are highly mobile.

Our new government do appear to be listening to feedback that their tax proposals will cause lasting damage.

Piffle.

A charity set up by the billionaire boss of Bet365, Denise Coates, may have saved her online gambling empire more in tax than the foundation has yet given to good causes, Guardian analysis suggests.

Sums up the Tory creed in a nutshell. None of the four candidates would do a damn sight better with the economy, either. Their 'Labour will ruin the economy' mantra was buried 'neath the Kamikwaze insanity of the Truss tenure in D. street.

 

[motorbiking]

Says the Labour fanboy

 

[Odds]

Says the Labour fanboy

Guess agin Cap'n Clueless.

 

[JohnD]

The rich will leave if you over tax them.

Motorbiking thinks that is a threat that frightens us.

Maybe remove the word "over"

The very rich like being given an easy ride, so their acolytes try to gush out some stories to influence public policy.

 

[JohnD]

There is nothing more ludicrous than motorbiking's silly assertion than receiving a multi-million inheritance makes a person poorer.

 

[Odds]

Studies have shown that most wealth holders who live in the UK have ties here, want to be here, and want to contribute as citizens. Tax levels are a minor factor in their decision to relocate in comparison to factors such as family and social ties, schooling, and overall economic stability.

Existing evidence on reform of the non-dom status showed that increasing taxes on the super-rich led to a minimal number of individuals leaving the UK. Reforms in 2017, which restricted access to the non-dom regime, led to just 2% of those who had been in the UK for fewer than 3 years leaving, the number was significantly lower for those with longer- term ties to the UK.

Tax Justice.uk

 

[motorbiking]

Tax justice. I wonder what they are about.

 

[JohnD]

Studies have shown that most wealth holders who live in the UK have ties here, want to be here, and want to contribute as citizens.

We can do without the others.

On your bike, motorbiking.

 

[Odds]

Tax justice. I wonder what they are about.

I get the impression you're not a fan of justice for the poor or the dispossessed.

 

[JohnD]

He's a terrific fan of handouts to the rich.

 

[Odds]

Mind you, the Grauniad reports bad news for West Ham: David Sullivan has cut the asking price of his London house by £10m (to £65m) and has blamed the promised crackdown on non-doms for rich people leaving the country.

It's a hard life...although i doubt he's off to Lisbon.