Tony Posted October 26, 2010 Share Posted October 26, 2010 I am not sure what point you are trying to make. The original post: So the average net income of the top 1000 was £77,265,000. That is less than a million and a half per week. How do they ever make ends meet? Are you Gordon Brown? Link to comment Share on other sites More sharing options...
Hairyloon Posted October 26, 2010 Share Posted October 26, 2010 That's not income, that's a change in net worth. If you own a house and house prices increase by 10% your net worth in the house has risen 10%. That's not income though. Good point. So how much have prices gone up over the last year? Link to comment Share on other sites More sharing options...
Obelix Posted October 26, 2010 Share Posted October 26, 2010 Good point. So how much have prices gone up over the last year? I don't have a clue what mines done I'm afraid - I don't sit watching them like some obsessed meercat checking off peoples wealth - I get on with earning money. Link to comment Share on other sites More sharing options...
Cyclone Posted October 26, 2010 Share Posted October 26, 2010 I am not sure what point you are trying to make. The original post: So the average net income of the top 1000 was £77,265,000. That is less than a million and a half per week. How do they ever make ends meet? The point I was trying to make was both simple and clear. We pay tax on our income, not on our net worth. That's it. Of course you'd have to read the thread to see the context for the post and why I'd bother to state such an obvious point. Link to comment Share on other sites More sharing options...
Cyclone Posted October 26, 2010 Share Posted October 26, 2010 It is when you sell it though. Not if it's your primary residence. Link to comment Share on other sites More sharing options...
Sean Hughes Posted October 26, 2010 Share Posted October 26, 2010 The truth is we are all going to be in a mess for a long time to come and there is no avioding it Link to comment Share on other sites More sharing options...
Hairyloon Posted October 27, 2010 Share Posted October 27, 2010 The point I was trying to make was both simple and clear. We pay tax on our income, not on our net worth... I thought we were discussing the gulf between the richest and poorest. Tax is a related issue, but wasn't what we were talking about. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted October 27, 2010 Share Posted October 27, 2010 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? Her you go: http://news.bbc.co.uk/1/hi/8417205.stm Opps, sorry didn't realise that some else has posted the link. Link to comment Share on other sites More sharing options...
Cyclone Posted October 27, 2010 Share Posted October 27, 2010 I thought we were discussing the gulf between the richest and poorest. Tax is a related issue, but wasn't what we were talking about. You should probably read the entire thread then... Note: the only source i have says that they have about "a third" of the wealth, so they should be paying a third of the tax money, minimum. Which is when I responded to say that we pay tax on income not wealth. Link to comment Share on other sites More sharing options...
Hairyloon Posted October 27, 2010 Share Posted October 27, 2010 You should probably read the entire thread then... Maybe I did, it is a fairly short one. Note: the only source i have says that they have about "a third" of the wealth, so they should be paying a third of the tax money, minimum. Which is when I responded to say that we pay tax on income not wealth. So what're you arguing with me for? However, it is an arguable point: as someone observed earlier: money generates money, if those people have a third of the wealth, then they should perhaps work it to generate a third of the tax. Money is no use to anyone just sitting around: it needs to be in circulation. Link to comment Share on other sites More sharing options...
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