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Fat Cat Tuesday

Discussion in 'Personal' started by Duke of York, Jan 5, 2016.

  1. Duke of York

    Duke of York Star commenter

    http://www.bbc.co.uk/news/business-35230845

    "Top bosses will have earned more money by the end of Tuesday than the average worker will do in a year, campaign group the High Pay Centre has claimed.

    The group has declared the day Fat Cat Tuesday, based on chief executives earning £5m a year, compared with the median UK salary of £27,645.
    "

    That's nice to know, isn't it? Two days work.

    How about we allow the Daily Mail to worry us over migrants? We don't really want to know who's exploiting the nation, do we?
     
    sabrinakat likes this.
  2. viceroy

    viceroy Occasional commenter

    What has this got to do with immigration, other that some of these top bosses happen to be immigratnts?
     
  3. Kriechbaum

    Kriechbaum New commenter

    What do you reckon the PAYE is on £5 million. Probably more than you put in.
     
  4. jacob

    jacob Lead commenter

    Fat cats do not pay their taxes through PAYE.
     
    sabrinakat likes this.
  5. Kriechbaum

    Kriechbaum New commenter

    All employees' pay is subject to PAYE. There isn't a special way of paying tax for people employed on high salaries?
     
  6. jacob

    jacob Lead commenter

    There is if it is not designated as "salary" which is exactly what they do. The figure then released publicly as "salary" is not the one used for tax purposes as they are probably not even classed as an "employee". Nice to see how some people are clueless, and believe what they read in the Daily Fail.
     
    sabrinakat likes this.
  7. Kriechbaum

    Kriechbaum New commenter

  8. sabrinakat

    sabrinakat Star commenter

    It seems to have taken George Osborne by surprise! (an oldie from 2012, but amusing)

    Millionaire tax avoiders 'shock' chancellor
    Chancellor George Osborne says he is "shocked" that some of the UK's richest people have organised their finances so that they pay virtually no income tax.

    I like this bit within the article: He said he would take "further action" but did not outline any new proposals.


    http://www.bbc.co.uk/news/uk-politics-17661011

    and more recent (last year) http://www.theguardian.com/commenti...-society-favours-rich-tax-avoidance-loopholes
     
    Middlemarch likes this.
  9. sabrinakat

    sabrinakat Star commenter

    Trump isn't doing too badly either (no allegation of tax avoidance, please note!)

    50,000,000 a year for Donald Trump it means $4,166,667 per month, $1,041,667 per week or $208,333.33 per day! Donald Trump is a real-estate mogul with high end properties such as the Taj Mahal in Atlantic City and Trump Plaza in Manhattan. With many more elaborate buildings, I'm certain that this public figure is very wealthy. Not to mention other endeavours such as The Apprentice and Celebrity Apprentice shows that air on NBC.

    Read more: HOW MUCH MONEY DOES DONALD TRUMP MAKEY 2016 INCOME SALARY http://www.best-reviewer.com/how-much-money-does-donald-trump-make-3579.htm#ixzz3wOcPmGFI

    ps. he has said that he doesn't want the $400,000 a year salary if elected President.
     
  10. Middlemarch

    Middlemarch Star commenter

    Meanwhile, if you fail (as I did last year) to mention the £15 in interest you were paid on a savings account about which you'd forgotten, the tax people are on to you and threatening action within a few weeks.
     
    sabrinakat likes this.
  11. Dragonlady30

    Dragonlady30 Star commenter

    ....and when THEY make a mess and undercharge you for a whole year on PAYE then demand that the amount is paid IN FULL ASAP!!!!!!!!!!!
    Writing that cheque almost killed me!! GRRRRRRRRRRRRRRRR!!!!!!!!!!!!!!!!!!!!
     
  12. lanokia

    lanokia Star commenter

    Interesting piece on how they get around paying regular folks taxes... in the USA at least...

    http://www.forbes.com/sites/robertwood/2014/04/05/tax-smart-billionaires-who-work-for-1/

    Minimum wage is going up, but big-time CEO pay seems to be going the other direction. Not overall pay necessarily, but salary. In fact, it’s increasingly common for common-man honchos to volunteer for a nominal $1 salary. And they may not want a cash bonus, either.

    Stock growth and capital gain is a lot more attractive and is taxed much more favorably. Besides, offering to work for a pittance can be a shrewd move. It shows current and prospective shareholders what you’re about.

    In 2012, Mark Zuckerberg earned $770,000 in salary and bonus, but now the CEO is Facebook’s lowest-paid employee. That’s right, now Facebook’s Mark Zuckerberg is among billionaire CEOs earning a $1 salary. Of course, he’s worth $27.8 billion, so he could afford to request an annual wage of $1 in 2013.
     
  13. Duke of York

    Duke of York Star commenter

    Yep. Steve Jobs was working for a dollar a year too. Nice to see that Madge hasn't lost his touch in bringing disinformation to the unwary through the use of accounting pedantry.
     

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