To think the world should have a 100% tax rate

Then the question is moot.
We all know a few people with too much money is not a good thing. Now we need practical solutions.

Ever heard the saying ‘truth is stranger than fiction’?

You're not making any sense. A 100% tax rate is a policy proposal. It's neither fiction nor non-fiction because it doesn't exist in either form yet. (Well, maybe someone's written a novel about it, I don't know.)

Fiction doesn't mean "barking mad", it means invented from the author's imagination rather than describing something that exists. Hence the original point - that you can't cite a work of fiction as evidence of what real world outcomes would be.

And so is the idea of 100% taxation! Barking mad.

You know it's a work of fiction, right?

Got to be £200% at least.

I'm sick of the ultra rich avoiding tax.

@Bluedenimdoglover

How do you think they could me made to pay it?

Which companies are those by name though?

It's more important that everyone who is taxable pays what's due. No tax havens for the ultra rich. Large multinationals pay taxes in the countries where they operate and have a physical presence. I pay mine and don't begrudge it. I'm sick of the ultra rich avoiding tax.

'The needs of the many, outweigh the needs of THE FEW' words of Wisdom there.
While a few billionaires do give away substantial portions of their wealth, it's too few of them.
Unfortunately they way some of the ruthless bastards - or the previous generations of their families - made their money means they'll hang on to it in a death grip.
Plus 'who's the richest' seems to be a massive cock waving contest ... with little fairness and compassion along the way ...

Ever read Atlas Shrugged? Make life impossible for the inventors and entrepreneurs and they will give up. Then who drives the economy?

In 1960 our pop was around 50 million - it is now approaching 20 million higher and prob more as there is no count of who is/has been coming in

so we needed say 7 million houses/flats to accommodate that -and mostly around London.

Thats the problem - poor governments in denial about negative effects of immigration and sticking fingers in ears

They aren't 'hoarding' their money, they are spending it - lavishly. This means that other people are earning it.

I am talking about the super-wealthy. Scotland is similar to Scandinavia in many ways and so they buy large estates and take advantages of the lower tax rates.

I will however admit that the attractiveness of the UK has diminished since the changes to the non-dom tax law - prior to that, the UK was a magnet for internationally high-taxed entrepreneurs selling up in their own countries.

It is not a new phenomena either, back in the 1970s I knew many top doctors from Sweden that moved out of the country to escape the tax system.

The tax on lower and middle earners is much higher than the UK, not just on the higher earners.

Just to add, the limited braincells comment was not directed at you, I just think some on his thread are taking the public for fools.

I was adding context as that seems to matter so much to you when commenting on other people’s posts.

Well it is relevant as context is everything!

Minimum brain cells are needed to understand that the housing crisis has many interelated factors causing it - mega landlords are one of them!

I didn’t because it wasn’t relevant to the post I’d quoted.

I’d be perfectly happy for house prices in the UK to drop significantly to reduce living
costs - I doubt many would agree with me. House price inflation in the Uk isn’t due to mega landlords or private equity firms, it is due to an ongoing failure for many years to build
enough houses while the number of households is
increasing and interest rates have been low.

The Enron scandal and dot.com bubble spooking shareholders didn’t help, Gordon Brown’s pension raids and equitable life encouraged people to maintain control over their money rather than paying it into pensions or institutions and housing was the recipient.

In Scotland, so they have moved away from their life, their culture, their families that are Scandinavian, even though they are very wealthy? I have Scandinavian family, I've never heard of this trend to move to Scotland on mass, I think the standard of living is much better on an average income in Denmark, Sweden etc. let alone at an incredibly wealthy level. Why would you forgo that and move to Scotland?

I think you forgot to mention that the average worker in Sweden earns more and the cost of living is lower namely housing which in the UK is down to mega landlords, private equity firms pushing up the rent.

In terms of realistic taxes on the mega-rich, the 'Zucman tax' put forward by French economist Gabriel Zucman and supported by a number of Nobel prize winners is one to look out for and support: https://taxobservatory.world/publication/a-blueprint-for-a-coordinated-minimum-effective-taxation-standard-for-ultra-high-net-worth-individuals/

Sadly, for billionnaires and most governments, 2% on assets over 1 billion is already too much...

I accidentally hit that you were being unreasonable! Meant you are being perfectly reasonable!

Sweden doesn’t have a wealth tax and has higher taxes across the board. If we did something similar, we would have plenty of money to spend on public services - I don’t think it would be popular though.