Should billionaires and multinationals pay fair tax?

[motorbiking]

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.

You ask for something, it’s provided, you pretend it’s not what you want and then refuse to use the search function to find what you want. Apparently it’s my job to do it for you? Righto

 

[motorbiking]

The concept of taxing the rich is no longer unthinkable.

You are aware that it’s me telling you how much tax the rich pay.

Taking one step closer to a wealth tax is still nowhere near. While zucman was pitching his heart out, many countries have scrapped the very tax he was pitching.

No doubt they all agreed. Everyone should tax the rich… but not our country.

 

[JohnD]

You are aware that it’s me telling you how much tax the rich pay.

"Rich people pay more tax than poor people" is not news. It is not informative. It does not tell us how much tax they should pay.

 

[motorbiking]

"Rich people pay more tax than poor people" is not news. It is not informative. It does not tell us how much tax they should pay.

So this..

The concept of taxing the rich is no longer unthinkable.

(Except inside motorbiking's head)

.
Was you telling lies… again

 

[carmanmemoranda]

You ask for something, it’s provided, you pretend it’s not what you want and then refuse to use the search function to find what you want. Apparently it’s my job to do it for you? Righto

No. You answered the question you wanted to answer, not the 1 that was asked

Go back and check.

 

[aveatry]

land being held back speculatively in the hope of increased land values.

Land value will only go up if the value of the houses on them goes up - which it will if the builder has to pay a tax on the land banks they own and not yet built on.
Or they will do something like build to say DPC and then leave it with no tax to pay as they are now building on it.

 

[Notch7]

Land value will only go up if the value of the houses on them goes up - which it will if the builder has to pay a tax on the land banks they own and not yet built on.
Or they will do something like build to say DPC and then leave it with no tax to pay as they are now building on it.

you still dont understand LVT

If land is taxed then it is no longer a good investment....you cant buy land and sit on it for years while it goes up in value


the problem with land is that the landowner benefits from a gain in its value because of the surrounding area growing: infrastructure, roads, businesses etc. That incentivises people to buy land as an investment and sit on it an do nothing, which increases the surrounding land making house ownership and rents go up for normal working people

Please have a read of some research done on LVT, then you will understand it better

https://commonslibrary.parliament.uk/research-briefings/sn06558/

 

[motorbiking]

No. You answered the question you wanted to answer, not the 1 that was asked

Go back and check.

I did. You opener said “official government data..”

That will be from tax returns. I’ve shown you where all the stats are stored. It shows you how many more people fall in the top rate of tax. How much extra those people pay. What percentage of tax are paid by each income group. How this has changed over time.

More wealthy people paying more income tax and a higher portion of income tax than ever before.

If you just take this conservative tax policy alone.

In 2022 Jeremy Hunt announced that the threshold at which people start paying the 45% rate of income tax (the ‘additional rate threshold’) would be decreased from £150,000 to £125,140.

That’s 1,200 quid more tax for about 1/2 a million people an increase of around 200,000 people since 2019.

Conservative governments tax the wealthy more.

Who would have thought.

 

[noseall]

That’s 1,200 quid more tax for about 1/2 a million people an increase of around 200,000 people since 2019.

Conservative governments tax the wealthy more.

Who would have thought.

Since 2019? More than who? A previous Tory rabble, lol.

They pretend to take with one hand and allow it back with the other.

 

[aveatry]

you still dont understand LVT

If land is taxed then it is no longer a good investment....you cant buy land and sit on it for years while it goes up in value


the problem with land is that the landowner benefits from a gain in its value because of the surrounding area growing: infrastructure, roads, businesses etc. That incentivises people to buy land as an investment and sit on it an do nothing, which increases the surrounding land making house ownership and rents go up for normal working people

Please have a read of some research done on LVT, then you will understand it better

https://commonslibrary.parliament.uk/research-briefings/sn06558/

I am only talking about the aspect of it concerning builders and not people who are just sitting on it waiting for it to go up, house builders have 1000,s of acres of land in their land bank and if they are taxed on it then it will only increase the cost of the houses built on it.

 

[JohnD]

if they are taxed on it then it will only increase the cost of the houses built on it.

They will sell the houses for as much as they buyers will pay.

Costs do not affect that.

 

[carmanmemoranda]

I did. You opener said “official government data..”

That will be from tax returns. I’ve shown you where all the stats are stored. It shows you how many more people fall in the top rate of tax. How much extra those people pay. What percentage of tax are paid by each income group. How this has changed over time.

More wealthy people paying more income tax and a higher portion of income tax than ever before.

If you just take this conservative tax policy alone.

In 2022 Jeremy Hunt announced that the threshold at which people start paying the 45% rate of income tax (the ‘additional rate threshold’) would be decreased from £150,000 to £125,140.

That’s 1,200 quid more tax for about 1/2 a million people an increase of around 200,000 people since 2019.

Conservative governments tax the wealthy more.

Who would have thought.

Still not answering what was asked. Just what you want to say

 

[Notch7]

I am only talking about the aspect of it concerning builders and not people who are just sitting on it waiting for it to go up, house builders have 1000,s of acres of land in their land bank and if they are taxed on it then it will only increase the cost of the houses built on it.

houses sales are only dependent on supply and demand not costs

if land was taxed then landowners wouldnt be able to sit on it and wait for it to appreciate, so they would either have to build on it an make it pay or sell it............that would make land drop in value

 

[SirGalahad]

You are aware that it’s me telling you how much tax the rich pay.

Taking one step closer to a wealth tax is still nowhere near. While zucman was pitching his heart out, many countries have scrapped the very tax he was pitching.

No doubt they all agreed. Everyone should tax the rich… but not our country.

Which are these countries and what is the context of them scrapping the wealth tax.

 

[SirGalahad]

I am only talking about the aspect of it concerning builders and not people who are just sitting on it waiting for it to go up, house builders have 1000,s of acres of land in their land bank and if they are taxed on it then it will only increase the cost of the houses built on it.

No it won't.

All the builders will have an incentive to start building on land they have banked. So lets say they want to pass the cost onto the homebuyer - when all the builders are trying to do the same and the buyers balk at the increase - what is going to happen? The builders will drop their asking prices as until they sell the homes they are still going to be liable for the tax - now they have a holding cost - the cost of the LVT.

This is like trying to tell dumb Brexxers that they need us more than we need them is not a fkin economic argument.