Is it time for a wealth tax?

Cameron has said support for people should be charity as it used to be and not them. Net effect locally not long after was that a local food bank was then managed remotely by a company. To use it people now need vouchers that can only be obtained from certain people. Reason for going to that sort of arrangement is obvious. Will it prevent misuse? I doubt it.

Why do we need food banks? That's pretty simple in some ways. People are receiving some sort of state relief and it not enough to support them. What is difficult is what living standards should these people have. The current gov's idea is low enough to make them want to work. Any job and any amount of it. The catch with that is long term unemployed generally want a job but find they can't get one. Priti uttered on this recently. They surveyed the economically inactive and all said they would like a job. These people are not included in the unemployment figures. There was over 2,000,000 of them. She then said that companies should use these people but not how. Easy thing to say but.............

The don't do charity lot make a lot of sense really but we are stuck with the usual Tory dogma that we have had one way or the other many times with no beneficial effect.

We have had near 100% employment without hiding unemployed people in the past. They were hid to make the figures better knowing that lots will never get new jobs. But say we did get to most people employed. Companies then have to bid for people and salaries increase. Currently for that to happen people need to work in fields where there is a shortage of "the right ones". Bit thin on the ground so salaries for many stagnate. The excuse is that unemployment creates a mobile work force.

:) The answer - pass.
 
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Can't work / won't work. Tax avoider / tax evader, there is a BIG difference that the snivelling left wing scum fails to recognise.

I wasn't lucky, it was damned hard work to become this lucky, I was probably in the right place at the right times. Sometimes I won & sometimes I lost, mostly making now't more than a modest return . . . BUT, I was always there & always ready to seize the moment.

You HAVE to be there, you have to actually be doing it, you have to get up off your arse, get on your bike & find it.

It won't come to you, it doesn't seek you out, it will never walk up to a table full of bullshitters spouting their nonsense & full of the bitterness of failure.
 
I does seem a little perverse if a person can be rich enough to spend say, £200k to a tax avoidance accountant, and keep hold of maybe 10x that, which was meant, in the spirit of the tax code, to be paid in income tax.

In terms of 'wealth' taxes, the tech giants should be taxed way more than they are. If the 'world' governments (the G20 would swing it) ALL just jumped on them, it would work.
 
All big corps should be taxed more. But we elected a government that is actively avoiding that ever happening.
 
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You're describing an investment property.

Not an owner-occupier main house to live in.

If you invested in gold bars, or stamps, or shares, and made a capital gain on sale, would you pay tax?
Valid point, no tax to be paid using my example assuming you meet all the criteria, otherwise partial taxation might be applicable.

I would however take my point into the realm of investment property. Assuming you've been above board in paying taxes related to said property/ies during ownership (e.g. on rental income), I do not agree with the levels of taxation applied when selling.
 
So you don't think I should pay Capital Gains tax when I make a profit on my investments.
 
Can't work / won't work. Tax avoider / tax evader, there is a BIG difference that the snivelling left wing scum fails to recognise.

I wasn't lucky, it was damned hard work to become this lucky, I was probably in the right place at the right times. Sometimes I won & sometimes I lost, mostly making now't more than a modest return . . . BUT, I was always there & always ready to seize the moment.

You HAVE to be there, you have to actually be doing it, you have to get up off your arse, get on your bike & find it.

It won't come to you, it doesn't seek you out, it will never walk up to a table full of bullshitters spouting their nonsense & full of the bitterness of failure.
This is why I get uneasy around conversations relating to the 'redistribution of wealth' ... redistributing to who exactly and how are we determining wealth?
 
Money isn't everything unless you don't have any.
This bloke gave away his entire £6billion fortune to good causes.
He said no one really needs huge fortunes,now he doesn't even own a car and lives in a small apartment.

https://amp-theguardian-com.cdn.ampproject.org/v/s/amp.theguardian.com/business/2020/sep/19/billionaire-chuck-feeney-achieves-goal-of-giving-away-his-fortune?amp_js_v=a6&amp_gsa=1&usqp=mq331AQHKAFQArABIA==#aoh=16121322385180&referrer=https://www.google.com&amp_tf=From %1$s&ampshare=https://www.theguardian.com/business/2020/sep/19/billionaire-chuck-feeney-achieves-goal-of-giving-away-his-fortune

Quote.
“Wealth brings responsibility,” he often said. “People must define themselves, or feel a responsibility to use some of their assets to improve the lives of their fellow humans, or else create intractable problems for future generations.”
 
One thing that's always puzzled me, France is considered a left-wing country by those in UK.
Yet I find, in general, that France is a lower taxation country than UK.
Admittedly I am a working pensioner, but I still pay tax on my income.
Road tax is pretty much non-existent, fuel tax is less, VAT/TVA is more or less identical, and other such taxes such as alcohol tax is reduced. In my circumstances income tax is greatly reduced, council tax (the equivalent of) is much reduced.
Looking at comparisons (a quick glance, I accept) it looks like there is a big difference in corporate tax rates.
Could this be the explanation for my observation?

upload_2021-2-2_12-29-34.png

upload_2021-2-2_12-27-2.png


upload_2021-2-2_12-27-36.png

https://en.wikipedia.org/wiki/Tax_rates_in_Europe
 
If you invested in gold bars, or stamps, or shares, and made a capital gain on sale, would you pay tax?
If that gold (or silver) is in the shape of coins ( I mean real coins not just the shape of) then no VAT or capital gains is payable. No VAT on purchase, and no VAT nor CG on profit due to sale.
 
Sorry, yes, you're right. It's just no CGT payable. But VAT is.
But they might be VAT free for me now. ;)

Interestingly, Gold may be VAT free, but then subject to CGT.
But if in coins, subject to VAT, but CGT free.
Does VAT apply to Gold?
Prior to January 2000, gold was taxed at the standard rate. This regulatory position meant that the UK gold market was not as competitive as that of other EU member states. Changes in EU laws introduced an exemption which meant that, for VAT purposes, gold came to be treated the same as other investments such as stocks and shares.
https://www.sharpspixley.com/vat-free-gold-cgt-exemption
That pesky EU! :whistle:
 
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