"Tax dodging by rich could be ‘much greater than thought’, says UK audit office"

[Deleted member 323070]

Just booked a little break in Lake Garda from my furlough bonus. Still got one big hit to come from the government though, care of the business asset disposal relief dodge but sadly the furlough pot is getting low now. All good things come to an end eventually. I miss that pandemic.

Make sure your roaming charges are set low.
It's probably cheaper to use a local SIM card these days.
Make sure you present your passport for the local SIM card. They're a bit suspicious of people using more than one SIM card.
They probably think you're a drug baron.

 

[Vinty]

Trickle down economics is proven to be a non-working policy

Trickle down is a euphemism for p*ssing on the poor.

 

[Brigadier]

My BIL hasn’t worked for over 10 years and is spending very freely in the UK. Would you rather he went and lived abroad then?

If he wanted to, he already would have done

 

[Brigadier]

invested in property

That the above is even a thing at all, is the root of much of the uk's ills, IMHO.

 

[Vinty]

People need to rethink how the system works and who is it designed to serve.
This bloke makes some good points.

 

[Lirefighter]

On average, though, the research shows that money in the hands of poorer people is much more effective at boosting the economy.

That probably correlates to the saying that 'wealthy people spend like they are poor and poor people spend like they are wealthy'.
So, in a way the research is correct but only given to the fact of the poor (average earners in real terms) outnumber the wealthy by a significant factor.

 

[Lirefighter]

Of course they're not. But those buildings are useful for mothballing wealth. And it accumulates more wealth by simply sitting there and doing nothing.

What creates demand for property/homes?

 

[diy_fun_uk]

Rich people buying up properties as investments to store wealth forces up house prices.
Ex Council flats in the area of London my brother lives in sell for over £500000.

Blame the system, not the individual.

 

[Justin Passing]

What creates demand for property/homes?

Aspiration. Greed for stuff, achievement, reward for ability to earn.
You can do a lot more now with money that you could in the 50's. People want want expect expect, more than they did back then.
So they have to move to where the higher paying jobs are, so the houses in those areas appreciate more. Once their mortage is shrunken by inflation, that houseowner realises there's money in property from the rent + appreciation, so he buys another house, which pushes the local demand up. That sort of thing.
The rich get richer, because they can.

If you take money from the rich people and give it to the poor people, what do you get?
A lot more poor people because the incentive to achieve is diminished.

Discuss.....


One thought - if you decide that property-owning is wrong because it creates inequality, you get Russian-style rows of apartment blocks, built in sufficient number to accommodate the workers. But that just pushes the issue up the chain, because someone has to build the accommodation, and someone has to manaage that, and they would have to earn more than. say, the people in those apartments. So you maybe get fewer of those rich people.
If you don't pay the more able more money, one outcome can be the Cuban can driver scenario, where you're being driven around by a doctor or university letcturer, because he doesn't earn enough from his main job. He's able, and works. The majority just sit back on a just-adequate wage and spend their free time in bars.

 

[Deleted member 323070]

just sit back on a just-adequate wage and spend their free time in bars.

Don't knock it, if that's what suits.

 

[Brigadier]

Aspiration. Greed for stuff, achievement, reward for ability to earn

You missed out "the need for somewhere to live".

 

[Notch7]

That probably correlates to the saying that 'wealthy people spend like they are poor and poor people spend like they are wealthy'.
So, in a way the research is correct but only given to the fact of the poor (average earners in real terms) outnumber the wealthy by a significant factor.

Wealthy people buy assets, …..that’s not money which grows the economy.

Ordinary citizens consume far more of their discretionary income.

If you gave £1 million to a wealthy person, most of that would go on more assets.

If you gave £100 to 10,000 ordinary citizens, most of it would get spent buying goods and services.

 

[Notch7]

If you take money from the rich people and give it to the poor people, what do you get?
A lot more poor people because the incentive to achieve is diminished.

So poor people are lazy and wealthy people are hard working.

I sometimes do work for a property investor, when I’ve been round his main house doing stuff, he sits in his orangery in his dressing gown having breakfast till around 10ish. I’ve also worked in one of his rented properties, where the tenant leaves home at 7.30am and doesn’t get home till 6.30pm


Your assertion is just an old trope

 

[Mottie]

I sometimes do work for a property investor, when I’ve been round his main house doing stuff, he sits in his orangery in his dressing gown having breakfast till around 10ish. I’ve also worked in one of his rented properties, where the tenant leaves home at 7.30am and doesn’t get home till 6.30pm

We get it. You don’t like wealthy people who gain wealth by doing nothing. In that case, why does your moral compass not prevent you for working for those people?

 

[Lirefighter]

We get it. You don’t like wealthy people who gain wealth by doing nothing. In that case, why does your moral compass not prevent you for working for those people?

He mentioned a while back that when he does work for this odious character at one of his dilapidated rentals, he gives his fee to the poor tenant who's trapped in serfdom by the despicable landlord.
He's a nice fella really.