AIBU to believe rich people should contribute much more?

[marcusian]

A bit tongue in cheek, but given that its almost impossible for poorly paid workers including care workers and nurses to strike, and that the government have given people earning over £100K a massive pay rise, what other ways could the most wealthy be made to pay?

My idea: - a new LUXURIES tax (think 50% VAT) on things ordinary people cant buy, like superyachts, airplanes, £10K+ dining tables, a box at wimbledon, £500+ handbags, £100+ football boots!

AIBU - No - they should pay more and heres my ideas how they should do it!
AIBU - Yes - leave wealthy people alone, its not their fault

There are indeed some horrid generalisations on here, it’s true. Of which you are also guilty top it has to be said.

Many people have said they happily pay their taxes and that it’s right that higher earners pay more.

What a lot of people are questioning is the suggesting continued pillaging of private citizens wealth to redistribute.

It’s wrong to do that, but it also simply wouldn’t work.

Corporation tax is comparatively high enough in U.K. - when all types put together

The nice little bar chart in this link shows you’re wrong.

www.investopedia.com/articles/personal-finance/051915/corporate-tax-rates-highs-and-lows.asp

Judging by your terminology, are you of an older generation? With a nice triple locked pension? Maybe we could start with that, might free up some funds.

I'm 31. With a 5 year old. I don't work in other countries away from my child for days at a time, get up at 3am for international conference calls and all the other bollocks that comes with it, so that I can pay yet more tax.

I'm doing this for a better life for me and my family. Not so Jill down the road can have a 4 bedroom council house for her myriad of kids, not work and be able to buy a packet of fags every day.

Fuck. Off.

@ExpectMore

Yeah

It is.

Because most people already do work hard. And will never make enough to be net contributors.

In order for that to happen we'd have to increase wages for all.

And I dont think you were in favour of that?

My triple lock pension all goes back via income tax @Eeiliethya. Because I earned enough money for longer than you’ve been alive to pay for a decent occupational pension. You have a nice day too.

I'm a long way from rich and I (legitimately) find ways to minimise my tax bill. How? Simple - I pay into a pension. I claim any exemptions I am entitled to, such as the uniform allowance. I did have an ISA when saving for a house, that's tax exempt too.

Exactly it's so short sighted.

Some on here have made it very clear they don't care about anyone else and are proud of that fact which is one thing but what's more shocking is that it hasn't even occurred to these such anointed, high achieving members of society that a world based on their disgusting views may actually also inconvenience them?

@hamsterchump

What do you think would happen if all the carers, cleaners, rubbish collectors, nurses, teachers, hospitality staff, etc all decided to "work harder" as you say and get better jobs/find different ways of earning money what kind of society would that lead to?

Don't you worry @hamsterchump, there'll always be people to do those roles such as school leavers, students, those seeking entry level jobs. It'll form a conveyor belt of people into and then again out of low paid jobs and it'll all work just fine ... and hey, if it doesn't, those roles will get paid more, more people will be attracted to do them and hey, it'll again work just fine.

So don't you worry your little cotton socks or trot out the same old-school dribble of "there'll be no-one left to do those roles"... there will.

No, they didn’t move money from in person to another 🤦🏼‍♀️

What you are saying it is not possible to achieve economic growth?

Given that all government money is actually the money of the people and corporations.

But nobody can create wealth? It’s a closed system that doesn’t change? Is that what you’re saying?

@Quincythequince

Many?

Mmmm

1 or 2 maybe.

The rest are mostly horrified.

Pillaging

Talk about exaggeration

🤣

@Quincythequince

What did they do then?

How did they create the money?

This money that didn't exist before they created it?

Give me an example please

@Topgub so why has someone else decided to pay them that amount then you numpty?! 🤦‍♀️

@ExpectMore

Just like we shouldn't worry about the ever spouted shite about the well off running away.

Loads of people have said they’re happy to pay it.

And loads have also come on to say that ‘rich’ people should keep paying more and more.

Of course it’s getting harder the younger you are and I sympathise

@ExpectMore

Because their values are wrong?

Its quite common

Are they? It seems to me the reverse is true.

Well if that's the case @Blossomtoes then you're sorted, that's your strategy right there: add as little value as possible and get a high income in return and as any one can add zero value it's within everyone's grasp right? Problem solved 🤷‍♀️

Ironically, those on benefits actually employ this strategy relatively: they add 0 value whilst still getting an income 🤦‍♀️

This thread is so bizarre. There is a huge difference between income and wealth which is totally conflated.

Many wealthy people do not have much income. Many people with high incomes are not currently wealthy.

Example - my brother is 10 years younger than me. He is a GP and earns more than me and DH together. However, we were able to buy a flat in London zone 2 in 2000 (DH had a bad car accident and received £25k in compensation.) We moved twice and have now paid off the mortgage on a house in the SE. Children are teens so no childcare costs. DBS in-laws also gave him and SiL £25k. Due to house price increases they are still in a flat and have small children so pay out ££££ in childcare.

Taxes should be looking at wealth as well as income, but to do that there would need to be a proper insurance policy available for elderly care and better pension arrangements so that people don't need to live off the value of their homes to fund retirement.

They moved existing wealth from one person to another. Thats not creating.

So @Topgub where did all this "existing wealth" come from in the first place...? Did it always exist, like some eternal being, or was it perhaps, at some point, created...?!

They develop and create services and products that people need, and are prepared to pay for. Things that simply didn’t used to exist and can make use of.

You seriously can’t think of one product that meets that criteria.

Drugs for life saving diseases? Technology (phones being a big one). Green and sustainable technology (biodegradable plastics for example).

People’s lives are a lot easier nowadays, than even 20 years ago and many advances in various industries have help facilitate this.

sheener you are absolutely right

@Quincythequince

Those things didn't create money.

The money paid for them already existed.

Someone had the money and gave it to the person to pay for the technology

I mean, this isnt a new idea. Its not something I've just made up.

Its a well known problem with capitalism and the idea (myth) of continual growth.

@ExpectMore

Well yes, technically humans created wealth and money as a concept. We traded precious metals and jewels etc etc and eventually invented money.

Those resources are finite. Hence the issues we're now having with fuel.

I mean we could just keep printing more and more money I suppose. Kid on that eternal growth is a thing.

This makes me so angry because you are clearly a tory.

Cue the self-interested Tories. Don’t trust them, and tax the ever-loving shit out of them. Rejoin the EU for the consolidated force to do so.
And if you think it’s a bad idea, sod you.

New taxes - Earning £203k will save circa £1600, tax paid on that is 3 x average salary.