To think the world should have a 100% tax rate

[notanothernamechange24]

On anyone with assets or income over 1 billion pounds. Nobody needs to hoard money / wealth to that degree. There is no justification for it.
The world would be a far better place without billionaires let alone trillionaires.

I know it will never happen. But it should. AIBU?

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

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.

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

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

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

'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 ...

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.

Which companies are those by name though?

I'm sick of the ultra rich avoiding tax.

@Bluedenimdoglover

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

Got to be £200% at least.

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

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

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.

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

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.