Meanwhile, the rich get richer..

[Hairyloon]

(I agree with you on the principle, but it would require a change in our entire system, and I can't see a politician being brave enough to do it.)

So we should revolt and sack all the politicians.

 

Now, how do we run the country without letting politics get involved?

[Hairyloon]

And that, ladies and gentlemen, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

But what you miss out of your analogy is that the sixth man owns substantial shares in the pub chain, and without the dividends the shareholders get from the sale of the beer, it could be half the price.

[Harleyman]

Money generates money or doesnt anyone seem to understand that simple piece of logic

[Hairyloon]

Did you know that if they taxed commodities trading at .05% they would raise enough money to avoid any cuts Yet they assiduously avoid any discussion of doing that.

[Obelix]

Because if they did you would end up with most of the City going to Frankfurt or New York and losing another 6% of GDP. Then we'd have to cut another 80bn and still have no way of paying for it.

[Anna B]

Because if they did you would end up with most of the City going to Frankfurt or New York and losing another 6% of GDP. Then we'd have to cut another 80bn and still have no way of paying for it.

 

Then Frankfurt and New York, who both have similar problems to us, should also tax at 0.05% and so on. It could all have been arranged at the G20 summit but wasn't.

[JFKvsNixon]

Then Frankfurt and New York, who both have similar problems to us, should also tax at 0.05% and so on. It could all have been arranged at the G20 summit but wasn't.

 

Then maybe Hong Kong or Shanghai would take over.

[Tony]

Whilst most of us are wondering how we are going to make ends meet thanks to the swingeing government cuts, it's interesting to note that even in these hard economic times the rich have managed to make more money for themselves this year than in all the previous 22years.

 

According to the Times rich list, the collective wealth of Britain's 1,000 richest people has increased by nearly a third. (The multimillionaires, 513 of which are based in London, are worth £335.5 billion, up by £77.265billion this year.

 

What I find sickening is that many of these unelected people have the ear of the cabinet and can influence decisions in their own best interest to make sure they get richer still.

 

Most of the deficit we are busily paying back is going straight into their pockets so they can buy gold and commodities and can escape the hyper inflation which is on its way. Thus they are already beginning to rocket in value.

 

Seen the prices in the supermarket lately?

 

 

First you should consider what 'wealth' actually means in the first place.

How much is Mark Zuckerberg worth?

 

Then consider recent history.

Number of billionaires halved as recession bites

 

Finally check recent happenings before drawings rash conclusions that the Sunday Times Richlist comprises Scrooge McDuck lookalikes sending children down mines while burning Brazillian rainforests to plant their gold trees.

Stock market shock: share prices can go up as well as down

[Hairyloon]

Money generates money or doesnt anyone seem to understand that simple piece of logic

When will people realise that money is not the same as wealth?

 

Simply shuffling money about does not generate wealth, in fact it de-values the real wealth that other people do create.

The financial markets do not grow anything or make anything, or even add value to anything... what they add is cost.

[sharrowman]

No-one thought to question both JFKVsNixon's assertion that the top 1% pay 25% of the nation's taxes - JFK - can you support this with some evidence? Or have you just heard this figure in the pub?

 

The lengthy story posted about the drinking buddies. Charming, but illustrative of nothing. The figures attributed to the various friends have no relation to our friendly tax environment. Or if they do, what is this relationship?