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Time for a wealth tax to pay for the costs of the pandemic?

Discussion in 'Personal' started by Morninglover, May 29, 2020.

  1. FriarLawrence

    FriarLawrence Senior commenter

    This is a bit of a thing, isn't it? My house is worth quite a lot of money, but it's in a town that's more or less a suburb of London. I can't realise any of that "wealth" in any way that didn't involve selling up and moving to Burkina Faso.
  2. Rott Weiler

    Rott Weiler Star commenter Forum guide

    Yes. 65,602.
    LondonCanary likes this.
  3. Mangleworzle

    Mangleworzle Star commenter

    Out of 506,400.

    That's 12.9%.

    So 440,798 aren't.

    That's 87.1%.
  4. Rott Weiler

    Rott Weiler Star commenter Forum guide

    I was answering the question asked, which was "Are any teachers on 50k?"
  5. Mangleworzle

    Mangleworzle Star commenter

    And I was putting in context, statistics don't lie, but they can be used sparingly to advance an agenda.
    Jolly_Roger15 likes this.
  6. Rott Weiler

    Rott Weiler Star commenter Forum guide

    Are you accusing me of advancing an agenda by only answering the question asked?

    Or are you accusing shakes1616 of advancing an agenda by not asking how many teachers earned less than 50k?
    Last edited: Jun 1, 2020
  7. CheeseMongler

    CheeseMongler Lead commenter

    What about releasing government bonds to pay for the pandemic?

    I'm sure there are people that have saved money during the pandemic and the previous pages of this thread illustrate how difficult it would be to tax these individuals fairly. As far as I understand them (which is not very far*), government bonds would be a way for these people to contribute voluntarily and provide an incentive to do so.

    *About all I do know is that "war bonds" were released to raise funds during the World Wars. Could a similar principle be a way to pay for the pandemic?
  8. defenceagainstthedarkarts

    defenceagainstthedarkarts Occasional commenter

    It’s a tricky one. Broadly, I agree people should pay a proportion of what they owe, but to give a very basic example, if I am earning £2000 a month and my neighbour is earning £20,000 and we each pay 50% tax, then clearly that’s unfair.

    If however the knock on effect is that a huge tax increase causes my neighbour to leave the country, the problem we are left with is that they were still paying a hell of a lot of tax, which would indirectly benefit me, their poorer neighbour. No easy answers.
  9. Ivartheboneless

    Ivartheboneless Star commenter

    Yes but as with academies, the one who left could be replaced by someone who they paid a lot less and could probably bully more, and they would still pay tax. the revenue would not get as much tax as if the one earning 20k a month was still paying it, but as their tax contribution would be zero, the revenue still gets some tax. Since about 1980 every time there has been a threat of higher taxes there is the right-wing backlash of all the higher paid or higher earners leaving the country. Fine by me, they can all sod off, it would open up jobs for the unemplyed and might even create a promotion structure. None of them have evr left so far as I am aware excpt for greedy gits like Branson and "Sir" Philip Greed. Good riddance.
  10. Mangleworzle

    Mangleworzle Star commenter

    As a former teacher and educationalist I find it useful to give somewhat more full information to allow people to make their own minds up, putting facts into context helps with this, especially with statistics.
  11. Rott Weiler

    Rott Weiler Star commenter Forum guide

    So you aren't accusing anyone on this thread of "advancing an agenda"? I'm glad we've cleared that up.
  12. Mangleworzle

    Mangleworzle Star commenter

    :rolleyes: Feel better now? :D
  13. needabreak

    needabreak Star commenter

    The move towards automated accounts is already well under way so it won't be long... The cab drivers and hairdressers that survive this and still operate cash systems might be burgered though...
  14. Rott Weiler

    Rott Weiler Star commenter Forum guide

    I've not been unwell but thank you for asking

    Have you recovered now?
  15. lexus300

    lexus300 Star commenter

    Indeed and I think cash is gone after this. That way they know where every penny you spend has gone and what on.
    needabreak likes this.
  16. lexus300

    lexus300 Star commenter

    You would be paying £1,000 your neighbour £10,000 which is proportional.
  17. Ivartheboneless

    Ivartheboneless Star commenter

    But unfair, one gets left with 1000, the other still has 10,000. Unfair. As with percentage pay rises. the ones at the bottom get proportionately less. Its a con.
    Morninglover likes this.
  18. LondonCanary

    LondonCanary Star commenter

    They have the same ratio before and after tax. Is it unfair for one person to earn more than another
  19. Mangleworzle

    Mangleworzle Star commenter

    It can be, yes.
  20. lexus300

    lexus300 Star commenter

    Unfair ? The whole reason for taxation and welfare is to ensure people at the lower end have reasonable lives. I think your unfair is from the top of the pyramid view. If the poor keep getting poorer we will have bloody battles ahead when they decide they have nothing more to lose.

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