TJC1 Posted January 6, 2012 Share Posted January 6, 2012 The super rich already pay a huge proportion of the tax income the government receives. Try to tax them anymore and they'll think it's unfair, take their toys and leave. And their toys are companies and large bank balances. Not enough. Unpaid taxes would wipe deficit. Link to comment Share on other sites More sharing options...
Mecky Posted January 6, 2012 Share Posted January 6, 2012 The super rich already pay a huge proportion of the tax income the government receives. Try to tax them anymore and they'll think it's unfair, take their toys and leave. And their toys are companies and large bank balances. Bye then, they'd better not let the door hit their ass on the way out! Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted January 6, 2012 Share Posted January 6, 2012 Not enough. Unpaid taxes would wipe deficit. Bye then, they'd better not let the door hit their ass on the way out! Neither view is relevant to the thread's topic, you know. Link to comment Share on other sites More sharing options...
chem1st Posted January 6, 2012 Author Share Posted January 6, 2012 The super rich already pay a huge proportion of the tax income the government receives. Try to tax them anymore and they'll think it's unfair, take their toys and leave. And their toys are companies and large bank balances. Pathetic argument. They are subsidised massively. Land monopoly. European CAP kickback. Seldom pay any 'income tax' in the first place. Don't even pay tax on land, hold their land in companies operating from the british virigin islands. etc. etc. You tax people who work too much and they won't. Hence people on benefits who face losing 100%+ of the income they earn aren't too keen on working. But many of these parasites at the top don't do any bloody work in the first place. They just skim skim skim off of the backs of others. This includes banks skimming via buy to let mortgages and landlords skimming tenants via buy to let and rentier parasitism. Link to comment Share on other sites More sharing options...
TJC1 Posted January 6, 2012 Share Posted January 6, 2012 Pathetic argument. They are subsidised massively. Land monopoly. European CAP kickback. Seldom pay any 'income tax' in the first place. Don't even pay tax on land, hold their land in companies operating from the british virigin islands. etc. etc. You tax people who work too much and they won't. Hence people on benefits who face losing 100%+ of the income they earn aren't too keen on working. But many of these parasites at the top don't do any bloody work in the first place. They just skim skim skim off of the backs of others. This includes banks skimming via buy to let mortgages and landlords skimming tenants via buy to let and rentier parasitism. My bank HSBC made 7 billion profit in the first 6 months of 2011. Yet only paid 1% tax in the UK. Which ever way you look at it, it is 'legal' fraud. Maybe we should all be setting ourselves up as legal entities, employing accountants and shuttling money back and forth from off-shore accounts. We're all in this together! I digress, here is an article about the housing cuts in 2012: http://www.guardian.co.uk/society/2012/jan/01/housing-benefits-cuts-rents-study And another: http://www.guardian.co.uk/commentisfree/2012/jan/02/housing-benefit-cuts Link to comment Share on other sites More sharing options...
TJC1 Posted January 6, 2012 Share Posted January 6, 2012 Another interesting statistic is only 1/8 housing benefit claimant is unemployed. I didn't know that. Food for thought. Link to comment Share on other sites More sharing options...
Cyclone Posted January 6, 2012 Share Posted January 6, 2012 My bank HSBC made 7 billion profit in the first 6 months of 2011. Yet only paid 1% tax in the UK. Which ever way you look at it, it is 'legal' fraud. No it isn't. That's world wide profit you're thinking about, did you bother to check what tax they have paid elsewhere? Maybe we should all be setting ourselves up as legal entities, employing accountants and shuttling money back and forth from off-shore accounts. We're all in this together! It's not worth it, it's actually quite difficult to do, google tennis players and tax, they were getting stung for UK tax on their worldwide income due to earning just some of it in the UK and were considering boycotting Wimbledom because of it. Link to comment Share on other sites More sharing options...
Cyclone Posted January 6, 2012 Share Posted January 6, 2012 Pathetic argument. They are subsidised massively. Land monopoly. European CAP kickback. Seldom pay any 'income tax' in the first place. Don't even pay tax on land, hold their land in companies operating from the british virigin islands. etc. etc. But many of these parasites at the top don't do any bloody work in the first place. They just skim skim skim off of the backs of others. This includes banks skimming via buy to let mortgages and landlords skimming tenants via buy to let and rentier parasitism. It's so pathetic that the actual stats are The people in the top 1% of income pay 24% of the total UK government income tax income. The next 9% pay another 29%. Can you count that? The top 10% earning people pay 54% of the income tax revenue in the UK. Yet you keep whining about how it's so unfair, how they are subsidised and how the poor get a bad deal. You tax people who work too much and they won't. Hence people on benefits who face losing 100%+ of the income they earn aren't too keen on working. I particularly like this bit. The problem isn't too much tax, it's too much benefit. Link to comment Share on other sites More sharing options...
chem1st Posted January 6, 2012 Author Share Posted January 6, 2012 It's so pathetic that the actual stats are The people in the top 1% of income pay 24% of the total UK government income tax income. The next 9% pay another 29%. Can you count that? The top 10% earning people pay 54% of the income tax revenue in the UK. Yet you keep whining about how it's so unfair, how they are subsidised and how the poor get a bad deal. They are not necessarily the rich though are they, they most certainly are not, your talking about income for the purposes of income tax. Did you know the top 1% of students get the most A grades... That doesn't mean they work, it doesn't mean they pay tax, it doesn't mean they're rich, it doesn't mean they own land via a company registered in the BVI, it doesn't mean they're the largest taxpayer. And nor does the fact, that those with the highest income pay a greater proportion of income tax in numerical terms, mean that they work etc. etc. too. Did you know that the most alcoholic 1% pay the most in alcohol duty in numerical terms? I particularly like this bit. The problem isn't too much tax, it's too much benefit. Benefit £10000, EMTR 100% = No incentive to earn £50 Benefit £100, EMTR 100% = No incentive to earn £50 It is neither the level of wages or benefits, it is the EMTR of 100%. Link to comment Share on other sites More sharing options...
chem1st Posted January 6, 2012 Author Share Posted January 6, 2012 Another interesting statistic is only 1/8 housing benefit claimant is unemployed. I didn't know that. Food for thought. If you look at benefit system, the unemployed probably claim the least! Those in work claim more than the unemployed. Pensioners claim more than they ever put in. The youth are left with the burden, and that seems to be being shifted onto the Chinese workers. Link to comment Share on other sites More sharing options...
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