If a wealth tax brought in zero revenue to the government, would people still support it? If yes, why?

[percypiggy200]

I’m curious and I’d love to know people’s reasoning.

Well, those with liquid wealth are leaving the UK at increasing rates, and have been since 2016. The UK is the only country in the G10 where this has been the case. It is also the country with the highest rate of wealth emigration in the world.

https://en.irefeurope.org/publications/online-articles/article/22-10-millionaires-exodus-is-britain-driving-its-wealthy-away/

https://m.economictimes.com/nri/invest/wealthy-british-indians-join-exodus-amid-tax-and-policy-concerns/amp_articleshow/125455536.cms

The Scandinavian countries are not analogous to the UK. Sweden, for example, is rated highly for ease of doing business due to light regulation and light corporate tax burden . They also have fewer property taxes and zero inheritance tax. While it may have a higher rate of income tax, there is double the burden on lower earners when compared to the UK.

Sure except you will no longer have their tax revenues. So you and everyone else left will have to pay more.

There is a new campaign group called Patriotic Millionaires who are super wealthy people who are campaigning for more wealth tax. Maybe the people you know would leave their country behind in order to hoard wealth, but not all of them would. Many of them have whole lives here, are proud to be British, and are fine to contribute more.

How much more have they voluntarily contributed since their formation?

Hard numbers, please.

So Rio Ferdinand has left for Dubai, citing high taxes, like the high taxes that paid for his wife's care as she was treated for cancer.... on the NHS of course.

Or the very rich Indians who came here, either 1st or 2nd generation, took advantage of our public services to build their wealth, repaying the country by fuckin off but plan to return, again taking advantage of our tax payer funded public services.

These people make me sick.

Irrelevant, the economy is not a charity and we shouldn't expect wealthy people to treat it as such

What? Well, that makes so sense whatsoever.

So, you either do not know, or it’s zero.

Well that’s not very convincing or committed by that group then.

I don't know because I don't care to know because it is irrelevant. If a wealthy person wants to contribute more than their legal taxes, the most logical thing to do is to give to a charity. If you think it's relevant you can look into it but I'm not here to do research for you?

Worse than working overseas to earn more money? Sounds like migration. Does that sicken you too?

I’m wondering if the sickened and retired posters have downsized as that would help people out. Perhaps it’s more what others should do.

In both these examples these people will have paid millions or tens of millions in taxes. They have more than paid for the NHS care they would have received - and I would be shocked if they didn’t go private - so again they have paid for it.

How so? It would be more relevant to look into how much they donate to charity rather than how much voluntary extra tax they pay

11K was the number who had left in January 24! 17K had left by July 25.
25K by Sept 25.
Show me data from either July 25 or Srpt 25 that contradicts me

Your figures were from Jan 25 not July 25 or Sept 25.

I asked you to provide data to support your claim that it has raised more than expected. You haven't been able to.

I would ask the question if the government said pay what you think you should pay in tax contribute as you see Fit calculate within your means what anybody would pay ?
Now that would be an eye-opener
Would we walk over children in the street that we know damn well are homeless as they do in other countries ?
I think we would

Yes how would someone know if they used private healthcare. They probably did.

Plus the anger at people earning. Bizarre.

Wrong.

It is very simple for people to make an additional voluntary payment to HMRC - that’s the most logical thing to do.

There is no comparison between paying tax to HMRC versus charitable donations.

Be serious, please.

This is a very bath faith take that doesn't make any sense.

The key thing is the political ideology of the government collecting the taxes. If you care about tackling inequality but that isn't a priority of the government, then donating to a charity that addresses this (eg. helping children in poverty) is a more effective way to do this than to voluntarily give money to the government.

They WANT the government to make it a priority and one of the ways to do that is through a wealth tax. The point is to not only introduce a wealth tax but influence how that tax is used. So voluntarily paying more tax now doesn't not achieve their goals.

They could easily lead by example and pay more tax. There’s nothing stopping them. Their combined wealth is probably quite a lot. They could stump up a decent chunk in extra taxes.

Did you read my post? Why would they pay extra taxes to a government who would spend those taxes in ways they don't agree with? What would that achieve? The point is to get the government to address inequality, and use a wealth tax to do that.

They do want to pay higher taxes that’s what they’re campaigning on. They don’t need to wait.

Doing the best for your immediate family is an excellent idea for humans.
Why would you sacrifice your own family over strangers?

The government needs to not build on greenbelt land.
We need housing because we entice the world here to take from the UK and not give back. Building housing doesn't make the economy grow.

Housebuilders have land and skills and funding but restrict quantity to ensure prices stay high.

Who would be the recipient of a wealth tax if not the government?

I can't tell if you're deliberately messing with me or if you're just not reading what you're responding to?

Yes they want to pay higher taxes.

But they want those taxes to be spent on things that would tackle inequality. So paying higher taxes NOW to a government who are not making that a priority would NOT achieve that goal.

So the plan is to make the government make tackling inequality a priority, and then pay higher taxes to fund it.

I really don't know how I can explain that anymore clearly?