Fair tax: Maybe rich people should pay it too."

[Mottie]

So take your stupid example if you never declare profits in a country which you derive your revenue - what happens to that countries tax base?

Presumably there will be no difference to the tax base as the company was never there in the first place but….it brings employment to those countries. A simple example. Amazon. I see delivery drivers every day in my street. That all comes from the Amazon hubs/sorting offices/warehouses etc. where they employ people that may otherwise have not been working.

 

[carmanmemoranda]

Presumably there will be no difference to the tax base as the company was never there in the first place but….it brings employment to those countries. A simple example. Amazon. I see delivery drivers every day in my street. That all comes from the Amazon hubs/sorting offices/warehouses etc. where they employ people that may otherwise have not been working.

On minimum wage, paying tax, while the company moves its massive profits out of reach of our taxman.

Not good for the country overall, just the little worker subsidising the multi national

 

[JohnD]

Presumably there will be no difference to the tax base as the company was never there in the first place

So if they sell hammers and potatoes, where they can make a bigger profit by avoiding tax, what happens to your local little hammer shop and the greengrocer?

 

[Mottie]

So if they sell hammers and potatoes, where they can make a bigger profit by avoiding tax, what happens to your local little hammer shop and the greengrocer?

Presumably the same that happens to the little butcher, baker, tobacconist, garden centre, off licence, grocer, greengrocer, florist, newsagent, milkman etc when people go to the supermarket instead of those little shops. Oh, I just realised, reading some of your posts, you're quite happy to shop in them so thats okay then, isn’t it?

JohnD doesn’t really care about small local businesses if it saves him money or inconveniences him in any way.

 

[Justin Passing]

You're talking about the fact that the rich and powerful have more influence and the rules are shaped to favour them.

You don't like me objecting to that.

Wrong again, sigh, as you refuse to answer anything.

No I'm not talking about what you say, nor to you have a clue what I like or dislike. You're not clairvoyant.

You raise a straw man and then have a go at it.

You're not clairvoyant.
You're clueless.

Time you went and made another silly ignorant whining commie assertion,
a dumb swipe at another forum member
or another pro-labour rara,
or another silly accusative question on a point which ignores everything else that's relevant.
Troll.

 

[SirGalahad]

Presumably there will be no difference to the tax base as the company was never there in the first place but….it brings employment to those countries. A simple example. Amazon. I see delivery drivers every day in my street. That all comes from the Amazon hubs/sorting offices/warehouses etc. where they employ people that may otherwise have not been working.

Employment is created out of demand - what happens to the demand when the profits keep getting taken offshore?

If you keep leaking profits to offhshore havens - then what you think happens? The Government tries to tax those incomes that cannot be easily offshored like employees- which goes back to my original point - why is capital taxed at a different rate than labour?

You are defending offshore tax havens like a good dog. Woof woof.

 

[Mottie]

Employment is created out of demand - what happens to the demand when the profits keep getting taken offshore?

If you keep leaking profits to offhshore havens - then what you think happens? The Government tries to tax those incomes that cannot be easily offshored like employees- which goes back to my original point - why is capital taxed at a different rate than labour?

You are defending offshore tax havens like a good dog. Woof woof.

Stop being a **** all your life. Take a day off.

 

[motorbiking]

We are back to the original question. Why is capital gains taxed differently to earnings.

Because investments have risk, businesses fail, investors need incentives to create, otherwise everyone thinks small and nothing happens.

In the beginning Amazon was like any other small business. Buying and selling on a small scale. Nothing Stopped JohnD or SirG or Mottie or me from starting Amazon.

 

[Dork Lard]

I have an idea. Why not get poor people to write the tax laws & legislation?

 

[Vinty]

Say Mottie has a garage in essex where the rate of tax is say 30% and the rate of tax in Brexitcentral Boston is 0%, Mottie will provide his services in Essex but bill them through his company in Dublin

Fixed that for you.


A study published on behalf of the Irish finance ministry showed royalty payments from Irish companies to the US jumped from €8bn a year on average, between 2014 and 2019, to €52bn in 2020. Irish-based companies are frequently used by tech companies as a conduit for US companies moving profits out of Europe

 

[JohnD]

We are back to the original question. Why is capital gains taxed differently to earnings.

That's not the original question.

It's a diversion you slipped in to try to justify a tax system designed to treat the rich more generously than ordinary working people.

 

[motorbiking]

You did not ask a question as usual - you posted a click bait headline to a political story you wanted to promote. But you did open a thread to debate use of capital gains for growth on investments vs. income and the majority of people have taken time to explain it to you. But you don't want to hear arguments that don't support your political agenda.

Do you support the idea of a multi-millionaire who can afford to donate £1.5M to a political party and his wealthy mate asking the public to donate money to a legal challenge which will likely have no legs? Are you familiar with the tax efficient schemes that this person has himself used? Perhaps you'd be interested in researching these, before championing his cause.

How can you argue we have a tax system "designed to treat the rich more generously than ordinary working people." When these people pay the vast majority of all taxes and these rules are open to all.

There is no income threshold for declaring capital gains - open to all.
Ordinary working people who buy, renovate and sell property can benefit.
Ordinary working people who invest in a few stocks can benefit.

Perhaps you need a tax advisor?

 

[carmanmemoranda]

You did not ask a question as usual - you posted a click bait headline to a political story you wanted to promote. But you did open a thread to debate use of capital gains for growth on investments vs. income and the majority of people have taken time to explain it to you. But you don't want to hear arguments that don't support your political agenda.

Do you support the idea of a multi-millionaire who can afford to donate £1.5M to a political party and his wealthy mate asking the public to donate money to a legal challenge which will likely have no legs? Are you familiar with the tax efficient schemes that this person has himself used? Perhaps you'd be interested in researching these, before championing his cause.

How can you argue we have a tax system "designed to treat the rich more generously than ordinary working people." When these people pay the vast majority of all taxes and these rules are open to all.

There is no income threshold for declaring capital gains - open to all.
Ordinary working people who buy, renovate and sell property can benefit.
Ordinary working people who invest in a few stocks can benefit.

Perhaps you need a tax advisor?

Perhaps we need a thorough overhaul of our tax system and rules.

And yes I know it won't happen

 

[motorbiking]

Perhaps we need small incremental changes which balance the need to attract investment to the UK, drive and incentivise entrepreneurs and avoid business investment deals going overseas, which harm jobs and investments.

and yes I know it wont happen (under labour).

 

[carmanmemoranda]

Perhaps we need small incremental changes which balance the need to attract investment to the UK, drive and incentivise entrepreneurs and avoid business investment deals going overseas, which harm jobs and investments.

and yes I know it wont happen (under labour).

Lets get the tax system sorted first so that the workers who create the wealth for the investors actually get a fairer reward and are able to live not just exist before we look to subsidise the rich a bit more

That definitely won't happen under the current direction of the Tories