The Super Rich

[malificent7]

I watched two tv programmes on them last week. Many living in one of their many opulent palaces all saying they didnt think they should be taxed more.
Then all the news about off shore tax evasion. If i dont pay my taxes i get a court order from the council while i sit in my tiny rental.
Aibu to feel a tinsy bit annoyed? Nothing will change though will it?
Perhaps i nedx to work harder.

"Eight years ago as UK Prime Minister and chair of the G20, I tried to end the injustice of global tax havens"

So what was he doing during the earlier 12 years? Seems a little late in the day to do it at the end of his reign, rather than the start, doesn't it? Tends to suggest he hadn't a clue what was going on.

TBF, he's a lot more likely to be affected by any reduction in tax havens than I am... Being ex-Prime Minister is supposed to be a rather more lucrative gig than I've ever had.

Stop voting in governments who support the super rich maybe?

Perhaps Blair as PM for most of the Labour years stopped him from doing anything? The Blairs seem greedy rather fond of making money.

I am a Tory and May supporter but I think Brown was particularly skilful (not with the public and not with the PR side) but with money and tax and the Government.

It has been very hard to deal with tax issues since we became more of a global and mobile economy particularly with the internet. Labour and the Tories have both worked very hard indeed to change rules where they think the rules are unfair. It is a difficult balance to get right.

Plenty of the rich pay a lot of tax by the way and some press criticism is unfair and misreporting people's situations. That does not mean there is not criminal evasion out there at all levels - there is.

Stop voting in governments who support the super rich maybe?

Which parties don't support it then??

Which parties don't support it then??

Look first at philosophy.

Look first at philosophy.

I'm more interested in what they do rather than what they say.

It is definitely true regarding reducing work and pay. I have loads of capital tied up in my buisness. I pay myself enough to cover my costs. If the tax rates weren't so punitive I would pay myself more which means I would spend more. Instead it's better for me to tie it up in business investments so it's available if needed in the future. At the super rich level, they take this to the extreme and effectively accumulate assets they don't need just to be tax effective.

Theoretical the solution is to tax assets and reduce the tax on income. The problem with this is it screws up asset values nationwide (devaluation), hence would be political suicide.