saunaman Posted June 11, 2012 Author Share Posted June 11, 2012 Maybe in this case it is , the documentary explains how the banks have been getting richer for years . It also explains why house prices have gone through the roof , so that young people now often don't stand a chance of getting on the property ladder . It explains how that was all cleverly engineered , and is well worth a watch if you are : young and can't afford to buy a house a household struggling to make ends meet a public sector worker or a private sector worker a fat person or a thin one etc Link to comment Share on other sites More sharing options...
rickiethecat Posted June 11, 2012 Share Posted June 11, 2012 Maybe in this case it is , the documentary explains how the banks have been getting richer for years . It also explains why house prices have gone through the roof , so that young people now often don't stand a chance of getting on the property ladder . It explains how that was all cleverly engineered , and is well worth a watch if you are : young and can't afford to buy a house a household struggling to make ends meet a public sector worker or a private sector worker a fat person or a thin one etc Thanks but I'd rather stick to reputable news sources such as the BBC and the daily papers. Any crackpot conspiracy theorist with a video camera can post a load of nonsense on youtube and try to pass it off as fact. Link to comment Share on other sites More sharing options...
Mister M Posted June 11, 2012 Share Posted June 11, 2012 A man who earns £30 million pays about £12 million in income tax and probably another £2 million in VAT etc. He probably doesn't cost the NHS a bean or his kids cost the education system anything either. Someone who earns £30 grand probably takes far more out of the system than he pays in tax. I think it was only a few months ago that the chancellor George Osborne said that he was shocked by an internal report from the Treasury showing that some of the wealthiest people in this country pay virtually no income tax. I see Vodaphone are the latest company to join the list of those that are dodging Corporation Tax: http://www.telegraph.co.uk/finance/newsbysector/epic/vod/9322368/Vodafone-paid-zero-UK-corporation-tax-last-year.html# Link to comment Share on other sites More sharing options...
Grandad.Malky Posted June 11, 2012 Share Posted June 11, 2012 I think it was only a few months ago that the chancellor George Osborne said that he was shocked by an internal report from the Treasury showing that some of the wealthiest people in this country pay virtually no income tax. Reminds me of this case. I said: "You must pay a lot of taxes". She said: "We don't pay taxes. Only the little people pay taxes." –Elizabeth Baum, former housekeeper to Helmsley (October 1983) Link to comment Share on other sites More sharing options...
Anna B Posted June 11, 2012 Share Posted June 11, 2012 The 20 richest people on Earth lost a combined $11.3 billion yesterday as global markets fell after European economic growth slowed and investors weighed Greece’s chances of getting bondholders to accept a debt swap. Warren Buffett’s fortune fell $407.3 million, dropping his net worth to $43.9 billion. The chairman of Omaha, Nebraska- based Berkshire Hathaway Inc. (BRK/B), his investment holding company, ranks third on the Bloomberg Billionaires Index, a daily ranking of the world’s richest people. “Warren Buffett has no reason to worry and neither does Carlos Slim,” Jeffrey Saut, chief investment strategist at Raymond James Financial Inc. in St. Petersburg, Florida, said in an interview. “It’s a buy. The world’s not going into recession.” The Standard & Poor’s 500 index posted its worst drop of the year, sliding 1.5 percent as U.S. stocks declined for the third straight day. Europe’s economy shrank 0.3 percent last quarter, the European Union’s statistics office said, and the central bank’s balance sheet surged to a record 3.02 trillion euros ($3.96 trillion) last week amid crisis-fighting efforts. Bernard Arnault and Amancio Ortega, two European retail magnates on the billionaires list, both lost about $1.2 billion. Arnault, 63, now ranks fifth on the index with a net worth of $41.2 billion after shares of his LVMH Moet Hennessy Louis Vuitton (MC) SA, the world’s largest luxury goods company, dropped 3.1 percent in Paris trading. Ortega, 75, who owns a 59 percent stake in fashion retailer Inditex SA (ITX), the world’s largest clothing retailer, ranks seventh with a $37.7 billion fortune. No billionaire on the index gained. Lakshmi Mittal, chairman and chief executive officer of ArcelorMittal (MT), the world’s largest steel company, fell from the ranking after his fortune dropped $918 million, or 4 percent. Shares of ArcelorMittal declined 5.5 percent in Amsterdam trading. Mittal, 61, is now the 21st-richest person in the world with a net worth of $22.3 billion. http://www.bloomberg.com/news/2012-03-07/world-s-richest-lose-11-3-billion-as-lakshmi-mittal-falls-out-of-top-20.html Well my heart bleeds for them... In a volatile market like we have at the moment a 1.3% drop will be quickly made back another day and is hardly likely to make a drop of difference to someone with 22.3 billion or 37.7 billion. Personally I think it's obscene for an individual person to have that kind of money when we still have people starving to death in the world. Lakshmi Mittal in particular has enough clout there to personally lift the whole of India out of poverty by instating some kind of organised welfare system. He's made his money off the backs of these people, he should do something meaningful with his riches. Link to comment Share on other sites More sharing options...
Anna B Posted June 11, 2012 Share Posted June 11, 2012 Whilst I don't think I am RICH (although that is comparative description I guess), I have become RICHER each and every year for the last 25 years simply by not spending all of my income. In that time I have even downsized my income considerably. I guess the same explanation would apply to people who I would consider RICH as well, in fact they have a better chance of being RICHER this time next year than somebody who is POOR. Ah, but have you taken inflation into account? You seem to be referring to savings, but don't forget 25 years ago you could buy a brand new detached house for around £20,000. Today it would cost £250,000+ Where could you get an interest rate that would do that? Link to comment Share on other sites More sharing options...
Stan Tamudo Posted June 11, 2012 Share Posted June 11, 2012 The 20 richest people on Earth lost a combined $11.3 billion yesterday. http://www.bloomberg.com/news/2012-03-07/world-s-richest-lose-11-3-billion-as-lakshmi-mittal-falls-out-of-top-20.html I thought yesterday was the 10th of June? In a related story, my own personal fortune increased by £25 today, thanks to a combination of ingenuity, skill and risk. I had £5 on a 5/1 shot in the 3:30 at Newton Abbot. Link to comment Share on other sites More sharing options...
Jim Graham Posted June 11, 2012 Share Posted June 11, 2012 I don't know about the rich. But the poor are getting poorer, because all they do is moan about the rich getting richer; rather than applying themselves to the task of become rich themselves. The poor are not getting poorer. Far from it. Labour have been trotting out that tired old cliche for at least 50 years. So if the poor were getting poorer they would be getting less now than they were 50 years ago. In reality they are much much better off than they ever have been. And what is the definition of poor these days? Can't afford a 42" plasma TV? Link to comment Share on other sites More sharing options...
Jim Graham Posted June 11, 2012 Share Posted June 11, 2012 Any specific years you are referring to? It sounds ideal. Pre 1924 to be precise. Link to comment Share on other sites More sharing options...
saunaman Posted June 11, 2012 Author Share Posted June 11, 2012 The programme of public sector dismantlement will really kick off tomorrow , when Winsor is given his ( public ? ) grilling by the Commons Home Affairs committee , for the job of "looking at police efficiency" . This man is Teresa May's favourite for the job . This is the guy who did the report into the privatisation of Lincolnshire Police back in March . He works for a firm called Case and White . He recommended privatisation and said the police were too unfit to do their job based on an interview population of less than 200 police . Link to comment Share on other sites More sharing options...
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