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Really? Because you don’t come across as someone with much experience of running a business.
Should billionaires and multinationals pay fair tax?
- Thread starter JohnD
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Hasn't stopped you posting about the law and business.
However, when it comes to hatred of women, you get it spot-on.
You don’t understand how Land Value Tax works
The aim of the tax would be to reduce the amount of land in 'sub-optimal' uses, such as vacant or underused sites, or land being held back speculatively in the hope of increased land values. Encouraging more land to come forward would meet London's housing need in terms of numbers and have an impact on affordability
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CGT is not the only way to tax capital
The problem in this country is the poorer people and the govt are losing assets and the wealthier people are gaining assets
Until that is reversed, the majority of the public will continue seeing living standards and public services fall…..do you have a solution for that?
This is the problem
Large numbers of people at the lower end of the earning scale don’t get paid enough to maintain a decent living standard…whilst the people at the higher end make their money from assets not wages.
While raising wages is important, without a fair tax system it will not solve the problem of inequality. It is important not just to raise taxes for everyone, but to use these funds wisely.
It’s impossible to use tax revenue wisely when almost everything is privatised, govt is at the mercy of sovereign wealth funds, housing associations, private investors etc etc.
The govt needs its own assets
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Who is arguing that tax should not be used wisely ?
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No. That doesn't show the detail you claim.
Try again. But I'm not doing the searching for you. If you have the specific figures discussed just show them.
When you consider the question posed in this thread, no type of consensus is ever going to be reached, because 'pay fair tax' is a completely subjective thing. Newsflash (not really) some will think billionaires aren't taxed enough, some will think they're overtaxed, some will think they're taxed about right.
Perhaps even more so on a forum such as this, the debate will just go round and round.
Perhaps even more so on a forum such as this, the debate will just go round and round.
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There does seem to be a majority verdict though, with only 1 and a half disagreeing with the majority
I would like to think most people understand we have a problem with too many people struggling to make ends meet despite working full time.
People in normal jobs like nursing, teaching etc should be able to afford food, heat, home.....but thats not happening.
taxation is only one of the solutions, but it may be the only one in the short term
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The concept of taxing the rich is no longer unthinkable.
(Except inside motorbiking's head)
"The global corporate tax reform that came into effect this year was something of a miracle. Less than a decade ago, few would have thought it realistic that most countries in the world would ever agree to close loopholes for corporate taxation, institute a global minimum rate, and decide how to apportion the new tax take — set to be more than $200bn a year — among themselves.
Yet here we are. Some parts of the global corporate tax reform are still to be ratified, but the minimum level is now being widely implemented. And if one miracle is possible, why not two? That is how we should look at recent stirrings of something similar: a multilateral effort to overhaul the flawed system for taxing super-rich individuals.
In February, the economist Gabriel Zucman — a scourge of wealthy tax optimisers everywhere — presented G20 finance ministers with a proposal for a global billionaire’s tax, at the request of Brazil. Brasília, which currently holds the group’s presidency, is keen to move to the next stage of the global tax agenda, which could be to close the loopholes that allow the world’s richest individuals to pay very little tax.
It was the first time the topic had been raised at a G20 meeting, Zucman told me, yet “most ministers who spoke in São Paulo praised Brazil for raising it”. He observed that the wealth of the very richest had grown by 7-8 per cent annually in recent decades — on top of inflation — compared to the 2-3 per cent growth rate of average wealth.
Zucman proposes an annual levy of 2 per cent of the wealth of the world’s roughly 3,000 dollar billionaires. It is not quite a wealth tax as much as a hybrid between a wealth and income tax, premised on the idea that the ultra-rich find it easy to define their revenues out of any taxable categories"
FT.com
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