Wealth tax

[Returnofrros]

Kinnocks remember them ( we are alright, we are alright....aye ok Bono ) are in favour on any wealth over 10 million....what's the betting they have 9.5 🤔

[BCram]

Interesting article in Daily Mail today by Andrew Neil. Almost every country that had a wealth tax have binned them because they do not raise very much money and drive out ?bn's of money with the really rich leaving. Even France's Macron binned it.
Trouble is New Labour under Blair really demoralised traditional Trade Union leaders and drove them into the arms of Corbyn and Starmer (when he was a Corbynista). They really believe the Marxist message and I am hopeful that Starmer gets booted out, soon, and Angela Rayner gets a chance to show everyone what a far left British Government looks like and acts like.

[Returnofrros]

Interesting article in Daily Mail today by Andrew Neil. Almost every country that had a wealth tax have binned them because they do not raise very much money and drive out ?bn's of money with the really rich leaving. Even France's Macron binned it.
Trouble is New Labour under Blair really demoralised traditional Trade Union leaders and drove them into the arms of Corbyn and Starmer (when he was a Corbynista). They really believe the Marxist message and I am hopeful that Starmer gets booted out, soon, and Angela Rayner gets a chance to show everyone what a far left British Government looks like and acts like.

1% of anything over half a million 2% of anything over a million rumoured.

Labour will never govern again in my lifetime if that's anywhere near accurate.

Greece without the sun

[BCram]

1% of anything over half a million 2% of anything over a million rumoured.

Labour will never govern again in my lifetime if that's anywhere near accurate.

Greece without the sun

Assets will be limited, surely. No pension funds included surely. No family homes surely.

[islaydarkblue]

1% of anything over half a million 2% of anything over a million rumoured.

Labour will never govern again in my lifetime if that's anywhere near accurate.

Greece without the sun

These Government ministers have no qualifications but instead they are being told what to say by their special advisers and senior civil servants.

[BCram]

These Government ministers have no qualifications but instead they are being told what to say by their special advisers and senior civil servants.

There are plenty of examples of wealth tax systems. If I was a politician I would want a proven example to be given to me to study. Seems like even the French are trying to get rid of their system.

The current trouble is allowing income to be "saved" before tax is deducted from it. A couple with a minimum wage of ?25k each could save ?10k each and have individual incomes for tax purposes of ?15k. Take off the personal allowance if you work of say ?12k and each person pays 20% of ?3000 =?600, total ?12000.
If they didn't have the ?10000 saved, in a tax free ISA they would have each paid an extra ?2000. A total tax payment of ?5200.
Must be why the rich get richer and help to push the price of everything up for everyone.

[noahrab]

1% of anything over half a million 2% of anything over a million rumoured.

Labour will never govern again in my lifetime if that's anywhere near accurate.

Greece without the sun

Whilst Scotland is a banana republic without the bananas.

[islaydarkblue]

There are plenty of examples of wealth tax systems. If I was a politician I would want a proven example to be given to me to study. Seems like even the French are trying to get rid of their system.

The current trouble is allowing income to be "saved" before tax is deducted from it. A couple with a minimum wage of ?25k each could save ?10k each and have individual incomes for tax purposes of ?15k. Take off the personal allowance if you work of say ?12k and each person pays 20% of ?3000 =?600, total ?12000.
If they didn't have the ?10000 saved, in a tax free ISA they would have each paid an extra ?2000. A total tax payment of ?5200.
Must be why the rich get richer and help to push the price of everything up for everyone.

There is a easier way for the Government to raise tax.
Return to the previous system of paying interest net of tax.
The Government gets their taxation up front and the number of people employed by HMRC could be greatly reduced as a result of people no longer having to complete a tax return listing the amount of interest they receive annually.
The Government should also bring back Granny Bonds which are now known as index linked savings certificates based on the CPI index.

[Deeranged]

There is a easier way for the Government to raise tax.
Return to the previous system of paying interest net of tax.
The Government gets their taxation up front and the number of people employed by HMRC could be greatly reduced as a result of people no longer having to complete a tax return listing the amount of interest they receive annually.
The Government should also bring back Granny Bonds which are now known as index linked savings certificates based on the CPI index.

Not having to declare interest on savings won't mean people don't have to do a tax return - there's a fair bit more to them than that.

[Dodbroon]

Wealth tax = theft. Pure and simple!!