AIBU to think a 2% wealth tax on the rich is unfair?

[Mrspepperpotpot]

i just saw an article and petition from oxfam saying if we taxed the ‘super rich’ 2% it would solve a lot of problems. They were suggesting 2% on anyone worth 10 million. Everyone in the comments agreed

I just don’t understand this mentality. High earners are hit at every turn. They usually use private health and private schools, pay the most tax, get hit with tax on savings, IHT, land tax, pensions etc etc Why on earth should people earn money to be taxed on it, to then be taxed on it again and again.

Why do people begrudge others having money when they’ve worked extremely hard to get it? Why isn’t there uproar about benefits instead?

I know this will never actually happen but the amount of people who seem to want it to is astonishing

The problem is the government is pro capitalist asf. If a load of do-gooders donated to the government, do you think they’d use the extra to fund improvements to public services and help those living in poverty? Or would they use it to fund a tax break for their rich and powerful mates? If I could be convinced that giving to the government would actually help those in need, I’d be more keen, but as it stands I’d rather give to charity.

Whereas making it non-voluntary sets a signal that they are actually committed to closing the wealth gap, which I’d love to see.

Well our new PM has been paying 15% of his salary to a homeless charity for the past 9 years ....Perhaps he doesn't count???

People always like to be generous with other people’s money . It’s always those that don’t have it baying for higher taxes on others.

Entry level? They don’t work for private companies who pay the minimum wage.

I don’t disagree, but it is a bit like saying all business owners are “rich” isn’t it?

Your attitude is typical of people who come from privileged backgrounds who have money. Self centred and selfish. People who have ten million pounds won't even notice 2%. That would make the lives of less fortunate people much better, which actually in the longer run makes society better, even for the mega rich. Socialism is enlightened self interest.

Wealth inequality has never been so great and it's making society a bad place. Lots of people can't afford to eat or a place to live through no fault of their own. There for the grave of god go alot us. Couple of unlucky things happen. Could all be in that boat.

Be a bit more giving

People with£10M are not earners, they have no need to work,they have enough to live on on the passive income and have no job.

That’s a pretty bad excuse, look at the spending breakdown for taxes. This is the bulk but you check see the rest.

UK government spending goes primarily toward Welfare, Health, and State Pensions, which together account for over half of all public expenditure

I kind of knew it’d be super keen up until signing over voluntary money time.

Bet you vote reform. Being poor really is not a lifestyle choice for the vast majority of people. Grow up and get some humanity

No so it hasn’t impacted them. As I said read some threads on job stress due to Labour.

Good

So if we have classed earning 660,000 PA as "doing rather well" can we agree that someone with 11,000,000 in assets and likely earning about 500,000 passive income is doing VERY well and can pay a bit extra tax to the tune of 20,000?

Your money doesn’t make you a good person.

Well said

But would it make anyone’s life better . It could just be adding to another black hole . The only way to get a more equal society is long term growth with good jobs and wages for all not taking 2% off rich people now . What happens when that’s gone do you come back for another 2.% and another

Let them go.

And conversely, not having money doesn’t make you a good person either. A horrible person is a horrible person, money or not.

The immigration argument is fascinating. On the one hand we are told foreigners are pushing down wages and working for low pay…then on the other people are blaming them for houses being unaffordable. Pretty sure those coming over on boats with next to nothing aren’t buying up all the property!!

Blimey some people on this thread are unbelievable, self entitled and don't give a s**t about people less fortunate than themselves just by usually luck and privilege

Yes but my point is they wouldn’t use voluntary contributions to increase expenditure, they’d use it to reduce income by reducing taxes.

Also the vast majority of the welfare budget goes on state pensions, which I think should be means tested. My husband and I both have massive private pensions but still qualify for a state pension. Why? We don’t need it. It’s just throwing money away. Give it to those who need it!

Thats ridiculous. Charitable donations means deaf dogs get millions and some obscure genetic condition gets nothing. We need infrastructure fit for all.

Sounds like you want to return to Dickensian times? Really.

You are also completely ignoring the complex multi systemic, multi factorial reasons people born into poverty are more often than not destined to remain in poverty.

And this idea that we could all just ‘work hard enough’ and be rich. If that was true then who would take away our rubbish, serve our coffee, stack the shelves, deliver our orders, clean our hospital ward, care for our elderly, teach our kids, drive our ambulances, etc etc etc. People doing these jobs form just as important a role (if not more important) than city traders, business owners etc. They work just as hard. Often harder.

They all deserve good quality healthcare, social care and education. They all deserve a decent standard of living with affordable housing, access to healthy lifestyles and in a country as wealthy as ours, holidays and leisure.

Sorry, I don’t believe you either.

People with over £10M are not earners,their assets and investments pay for everything.

All that IQ and you didn't think to improve your situation?

I really enjoy your assumption that wealthy people have 'worked really hard" to get it.

It’s the “likely earning” bit I disagree with. And until we know how an individuals wealth is going to be calculated, for the purpose of this tax, we don’t know.
If that money is all tied up in a business, then no, it is not “likely” earning £500k passive income. You must understand the basic economics of that?