Reese mog will offer to horse whip him on the steps of his club no doubt
Man with no clue about anything spouts off populist nonsense to generate money
The article doesn’t state if the 1% is all cash wealth, or if some is tied up in properties, loans to businesses etc.
The CofE has £8.7bn in assets which generate around £1bn a year in income. Would assume cgt will be paid on this, but will this wealth also be subject to additional taxes – seems like the Christian thing to do?
Many wealthy have already paid tax multiple times – indeed you could tax it all at 90%, but leaves little incentive to found a business and put in 20h days if there isn’t a significant reward at the end.
Given the Church of England is exempt from paying taxes, and has over £1bn a year in income, with almost £9bn in assets, perhaps Rowan Williams could do the Christian thing and start there?
Surely he’s not once again being a moralising hypocrit?
Acts 20:35 Rowan! “the Lord Jesus himself said: ‘It is more blessed to give than to receive.’”
“Will no one rid me of this turbulent priest?” ~ the wealthy
Okay. But only if it hits — and hits hard — the truly rich. Most of these seem to absolutely rape middle aged people who make a decent living and have been putting money away for decades.
Should be an eight-figure minimum wealth tax. If you’re 55 and “worth” £3M GBP including your pension and primary residence you are FAR from wealthy and nothing should touch your position.
A wealth tax is only going to work if it’s paired with policies that help change the structure of our economy. At the moment we have a “trickle up” economic system, where the labour efforts of the majority of the workforce trickles ever upwards into the hands of wealthy property speculators, investors, and an insulated professional managerial class.
If the wealth tax is used to build cheap, public infrastructure (public owned, affordable transport systems across Britain’s towns and cities to save spending money for working class people; green industry job creation etc), and if it’s used to fundamentally reform our housing market buy refilling the state-owned supply of housing that’s only for living at affordable rents, not profit, then we can start making headway.
Also things like redefining the purpose of businesses and giving workers a bigger stake in ownership of the places they work. A business needs to have a social directive beyond simply making profits, and the government needs to oversee and crack down on business that aren’t doing that.
We need an overhaul in thinking, and there are some incredible and innovative ideas out there, but because our media and political systems are dominated by the groups that profit from the status quo, these ideas and policies are either ridiculed or stifled.
Some good shifts are happening but I think it’s important people understand it’s unlikely people who haven’t shared their experiences will ever truly represent them in parliament. Tenants unions and mutual interest community operations are growing.
A silver lining about the state of our economy for generation rent is that it has made us far more community minded and more likely to find morals and value systems that go beyond blind pursuit of wealth and imaginary status.
Coming from a man who lives in a literal palace, and thinks there is some sort of magic person in the sky, I think I might ignore this economic analysis.
Constantly saying we need a wealth tax from many people in positions of power is all smoke and mirrors which enables the government to do nothing to help citizens of this country.
One of the biggest costs is people collecting benefits, whilst working. There are a few causes of this but mainly underemployment. We have a system that benefits businesses if employed staff are on zero hour contracts.
Taxing savings isn’t a good idea. Something like this was already tried in the 1970s. People plowed their savings into property, which sky rocketed the property prices…
Include Charles Mountbatten and his 50 palaces or GTFO
I prefer the idea of a transaction tax, over a wealth tax. Every time you move money around, invest, receive a payment, or buy something you pay a tax.
With a transaction tax you pay a tax on your economic activity, rich people are more economically active than poor people.
But then all the money the rich make won’t trickle down though. Oh, hang on a minute…
Religions are basically cults, they shouldn’t be tax exempt.
Tax the rich.
Tax the church.
Not hard to do both at once. Just sucks that they can’t have as many boats any more..
15 comments
Reese mog will offer to horse whip him on the steps of his club no doubt
Man with no clue about anything spouts off populist nonsense to generate money
The article doesn’t state if the 1% is all cash wealth, or if some is tied up in properties, loans to businesses etc.
The CofE has £8.7bn in assets which generate around £1bn a year in income. Would assume cgt will be paid on this, but will this wealth also be subject to additional taxes – seems like the Christian thing to do?
Many wealthy have already paid tax multiple times – indeed you could tax it all at 90%, but leaves little incentive to found a business and put in 20h days if there isn’t a significant reward at the end.
Given the Church of England is exempt from paying taxes, and has over £1bn a year in income, with almost £9bn in assets, perhaps Rowan Williams could do the Christian thing and start there?
Surely he’s not once again being a moralising hypocrit?
Acts 20:35 Rowan! “the Lord Jesus himself said: ‘It is more blessed to give than to receive.’”
“Will no one rid me of this turbulent priest?” ~ the wealthy
Okay. But only if it hits — and hits hard — the truly rich. Most of these seem to absolutely rape middle aged people who make a decent living and have been putting money away for decades.
Should be an eight-figure minimum wealth tax. If you’re 55 and “worth” £3M GBP including your pension and primary residence you are FAR from wealthy and nothing should touch your position.
A wealth tax is only going to work if it’s paired with policies that help change the structure of our economy. At the moment we have a “trickle up” economic system, where the labour efforts of the majority of the workforce trickles ever upwards into the hands of wealthy property speculators, investors, and an insulated professional managerial class.
If the wealth tax is used to build cheap, public infrastructure (public owned, affordable transport systems across Britain’s towns and cities to save spending money for working class people; green industry job creation etc), and if it’s used to fundamentally reform our housing market buy refilling the state-owned supply of housing that’s only for living at affordable rents, not profit, then we can start making headway.
Also things like redefining the purpose of businesses and giving workers a bigger stake in ownership of the places they work. A business needs to have a social directive beyond simply making profits, and the government needs to oversee and crack down on business that aren’t doing that.
We need an overhaul in thinking, and there are some incredible and innovative ideas out there, but because our media and political systems are dominated by the groups that profit from the status quo, these ideas and policies are either ridiculed or stifled.
Some good shifts are happening but I think it’s important people understand it’s unlikely people who haven’t shared their experiences will ever truly represent them in parliament. Tenants unions and mutual interest community operations are growing.
A silver lining about the state of our economy for generation rent is that it has made us far more community minded and more likely to find morals and value systems that go beyond blind pursuit of wealth and imaginary status.
Coming from a man who lives in a literal palace, and thinks there is some sort of magic person in the sky, I think I might ignore this economic analysis.
Constantly saying we need a wealth tax from many people in positions of power is all smoke and mirrors which enables the government to do nothing to help citizens of this country.
One of the biggest costs is people collecting benefits, whilst working. There are a few causes of this but mainly underemployment. We have a system that benefits businesses if employed staff are on zero hour contracts.
Taxing savings isn’t a good idea. Something like this was already tried in the 1970s. People plowed their savings into property, which sky rocketed the property prices…
Include Charles Mountbatten and his 50 palaces or GTFO
I prefer the idea of a transaction tax, over a wealth tax. Every time you move money around, invest, receive a payment, or buy something you pay a tax.
With a transaction tax you pay a tax on your economic activity, rich people are more economically active than poor people.
But then all the money the rich make won’t trickle down though. Oh, hang on a minute…
Religions are basically cults, they shouldn’t be tax exempt.
Tax the rich.
Tax the church.
Not hard to do both at once. Just sucks that they can’t have as many boats any more..