Generate wealth by scaring it off. Go Corbyn! https://www.theguardian.com/news/20...abour-election-win-jeremy-corbyn-wealth-taxes
UK General Election - 12th December 2019 | Con 365, Lab 203, LD 11, SNP 48, Other 23 - Tory Majority of 80
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£100,000 actually and I doubt their wealth is in money but in stocks and shares and property etc - but I'm not getting in the argument.
He probably meant 1% which is the standard across many banks on current accounts but even at BoE rate of 0.5% that would be £5m.
You are right it’s mostly invested so they’re making far more than that every year.
This is a real galaxy brain take:
THe anSwER To rEDiStRibuTION is NOt gOIng AfTEr ThE PEOplE whO haVe THE moSt weALtH
The super-rich will always avoid the measures, then they will hit the level below. It’s frustratingly obvious that this ideological stuff just won’t work in practice.
Not arguing against more taxes but doesn't this "calculation" assume that they would have had just as much to invest despite paying 6% wealth tax? Feels disingenuous even if I agree with their goals.
Being able to afford to uproot your entire life & family's life on a whim because of the result of a political election is peak privilege, quite frankly. My heart weeps.
While others are worried about choosing between heat & food, going to food banks, disability & welfare cuts, the NHS etc.
Let's spare a thought for the real victims: the super rich.
How do some people still believe in trickle-down economics?
How do some people still believe in trickle-down economics?
Well it isn’t the fault of the Billionaires that’s for sure.
But you certainly feel more sympathetic that they *might* (they wont) leave the country.
And quite frankly, i'm shocked that nobody is thinking of the Billionaires in all this chaos.
eh? Sympathetic? I was just pointing out that some nice big tax receipts may be driven abroad.
Owning 10% million of Amazon, say, isn’t hoarding anything though. The issue is people need to be paid more and if that makes the assets billionaires own worth a bit less, then fine.
Yeah I'm not sure how you could stop them just moving all their assets to the Cayman islands either. The issue is wage stagnation IMO.
May be, but unlikely to be - I haven’t found any conclusive evidence that taxing the rich leads to them emigrating - have you?
Isn't a whole lot of wealth in the UK associated with estates inherited from pre-industrial times?
This idea that Corbyn can single-handedly impose taxes needs to die. We run a parliamentary system for good reason.
Corbyn will become supreme overlord when he wins the election.
Then how do you explain why the rich all congregate in low tax countries like Monaco, Channel Islands, Switzerland, etc.
Presumably they weren't all born there and emigrated / relocated to there from some other higher tax countries.
Compare the numbers post 2010 vs the years prior. It's been a progressive decrease in UK student numbers.
So there should be no attempts to reduce income inequality, or address the fact that the ultra-rich hoarding their wealth and creating monopolies at the expense of the general population just isn't sustainable in the long-term? We shouldn't try to fix something that so patently obviously needs fixing?
Imagine, United are taken over by the Saudis.
We're just about to buy Mbappe and bam! Jezza has just passed legislation making being rich illegal.
Now we're stuck with Phil Jones at CB and we're 3-0 down to Stoke in The Championship.
Wooooah Jeremy Corbyn, Woe indeed.
We're just about to buy Mbappe and bam! Jezza has just passed legislation making being rich illegal.
Now we're stuck with Phil Jones at CB and we're 3-0 down to Stoke in The Championship.
Wooooah Jeremy Corbyn, Woe indeed.
Yes some. Not all, and certainly not enough to command propaganda that suggests they’ll all uproot their lives because Corbyn will tax 83% of their wealth every year.
Again - can you provide evidence of this supposed mass emigration by the rich?
Phil Collins said that he’d leave the UK if Blair got elected and did, moved to Switzerland on a tidy tax dodge. Not that this proves anything, just offering some Phil Collins general knowledge.
If increased taxation on high earners keeps Phil at bay, it's absolutely worth it on that count alone.
It’s funny because musicians tend to be left wing and Phil did write some socially conscious music like Another Day in Paradise.
I think he went abroad to avoid Gerrard.
And, of course, "Easy Lover".
A lot of musicians did leave in the 70s because of the high tax rates, maybe Phil thought Blair was going to do something similar.
https://ultimateclassicrock.com/rock-bands-taxes/
https://ultimateclassicrock.com/rock-bands-taxes/
Jeremy will steal 10% of it and give it to the workers, Phil Jones will be one of the owners.
Swinson's already tweeted about it.
Phil Collins has some bangers, can’t even hate on him
You clearly haven't heard "You can't hurry love".
Tbh I liked his version, and I absolutely love Motown stuff.
You just broke my fecking heart man.
Take no notice, mate - I'm a well-known idiot.
There's lots you can do. Break monopolies. Go after rentiers. Pay workers more. Increase taxes too. But not sure a wealth tax as such would do much.
Actors too. Michael Caine would never have made The Swarm if it weren't for the Labour government.
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