Rich man gets the point about tax

Discussion in 'The Intelligence Cell' started by Pigshyt_Freeman, Sep 30, 2012.

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  1. Good for him. But he made his money essentially as a very high stakes gambler. Fine except wouldn't it be "nice" if the invested hedge fund money had been put in UK companies that make things and employ people. That way his tax pounds would benefit the country twice instead of going towards white shell suits and babies with names beginning with the letter K.
    Discuss.
     
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  2. The top 1% of earners in the UK pay more than one quarter of income tax in a given year; the lower 50% pay 1/10 of income taxes.

    And numb-nuts Milliband thinks it's a good idea to tax entrepreneurs and business people more.

    Yup, sound like a battle-proven winner to me..............
     
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  3. It doesn't matter if it makes any sense - it will still appeal to the idle and envious. It will get votes.
     
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  4. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    which sounds fine until you work out how much the top 1% are evading in tax added to the even worse schemes their companies are up to.

    until the rules are super simplified then it will never get sorted, just like until we stop the basel bank rules from being so deliberately complicated we will allways have a banking problem.
     
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  5. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    I'm guessing that the UK follows the US pattern in the 90's the top 1% owned 30% or so of the countries wealth, now its around 70-80% IIRC
     
  6. So you want what, the top 1% to pay for everything?
     
  7. There's a school of thought developing that tax is virtuous and that we should all willingly pay it, we should not. Tax should be extracted with maximum opposition, government must not get the idea that its spending is sacrosanct and thus it's citizenry can be robbed. Government spends to much on things it should not do, it needs to reign in its ambitions and stop robbing people.
     
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  8. I think i love you! Will you marry me?
     
  9. udipur

    udipur LE Book Reviewer

    And how much of your hard earned moulah is utilised this way?
     
  10. Ord_Sgt

    Ord_Sgt RIP

    Nahh, he's leaking a few quid here or there for the chavs. Really, you think he is going to finance you? **** off.
     
  11. Ord_Sgt

    Ord_Sgt RIP

    Suppose that every day, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this:

    The first four men (the poorest) would pay nothing.
    The fifth would pay £1.
    The sixth would pay £3.
    The seventh would pay £7.
    The eighth would pay £12.
    The ninth would pay £18.
    The tenth man (the richest) would pay £59.
    So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. "Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by £20."

    Drinks for the ten now cost just £80
    The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the £20 windfall so that everyone would get his 'fair share?'

    They realized that £20 divided by six is £3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay! And so...

    The fifth man, like the first four, now paid nothing (100% savings).
    The sixth now paid £2 instead of £3 (33%savings).
    The seventh now paid £5 instead of £7 (28%savings).
    The eighth now paid £9 instead of £12 (25% savings).
    The ninth now paid £14 instead of £18 (22% savings).
    The tenth now paid £49 instead of £59 (16% savings).
    Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

    "I only got a dollar out of the £20," declared the sixth man. He pointed to the tenth man, "but he got £10!"

    "Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than I!"

    "That's true!" shouted the seventh man. "Why should he get £10 back when I got only two? The wealthy get all the breaks!"

    "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.

    The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
     
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  12. **** off with this ayn rand galt bullshit crap.

    Society is expensive and complex rich succesful economys have infrastructure educated and healthy workforces.
    Law enforcement security etc etc etc.
    If you,ve got 34 million you could hire slackwater and a personal generator build a well etc etc.
    But your still be living in a 3rd world shithole.
     
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  13. very clever. How about not going out for a drink if you cant afford it ? or make home brew or that elderberry shit.

    better still always remember that this social spectrum never exists in reality. The middle and lower working people get fucked off having to constantly stand drinks for the workshy, and also peeved by being looked down upon by the rich guy. Birds of a feather flock together.

    Also remember people can be very rich , and not actually contribute anything useful by the origination of their wealth..

    by the way, how can you get a dollar out of a £20 note ? is the money exchange rate thing part of the "lesson " ?
     
  14. Politicians can fulminate all they want about taxing the "rich", the reality of it is that there aren't very many of them. As a proportion of the tax base they are minuscule. Excessive taxes on the "rich" will guarantee less revenue, every percentage point of tax will result in someone saying "stuff this I'm off". The remaining "rich" will then have to make up the difference. High taxes result in less revenue, it's been proven time after time.
     
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