Pete McCluskey.
Lifetime Supporter
The ultra wealthy generally speaking also employ a lot of people and help create wealth.
Bill Gates is an example.
Bill Gates is an example.
An interesting spin on taxation...
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Ian Anderson
Lifetime Supporter
But to get this thread back on track - does he pay his fair share for a round of drinks?
Ian
Bill Gates is a good example of a responsible billionaire. He is now a great philanthropist and has done much good for people.
On the other hand Lewis Hamilton should be ashamed of himself. He was raised in a country that gave him everything he needed at taxpayers expense and as soon as he's got a load of dosh he buggers off to save money.
Thats just plain wrong. :furious:
Controversial view point coming up....
It is a privelege to pay tax (income tax). Means you made some money! If my tax bill for this year was £1,000,000 I would be better off than I am now. When I no longer need to pay tax, then I am in deep shit!
Targeted taxes are there to change behaviour, say fuel tax, cigarette tax etc. these are the taxes on our freedom to choose.
It is a privelege to pay tax (income tax). Means you made some money! If my tax bill for this year was £1,000,000 I would be better off than I am now. When I no longer need to pay tax, then I am in deep shit!
Targeted taxes are there to change behaviour, say fuel tax, cigarette tax etc. these are the taxes on our freedom to choose.
Along with just about every other British F1 racing driver, so why pick on Lewis.
Mansell: Isle of Man
DC: Monoco
Lewis: Switzerland
JB: Monoco
Thats to name but a few.
It's back to the loophole thing, if you were in their position would you do different? If there were a check on this ie, you pay your tax in the country you earn it then there would be a lot less deserters, that might mean of course that F1 drivers and mega bands get to pay taxes in several countries for every GP race location or gig played - now that would be distributing the wealth!
Couple of thoughts:
- Wonder what Nancy Pelosi and her husband pay in taxes? I'll bet she doesn't pay for that 757 in her income.
- I don't understand here in the UK why the UK government doesn't do with US does with its expats, ie asking them to file a tax return annually. In the US, an expat is allowed the first $70K tax free and then the dual taxation treaty comes into play. Look at all of those Brits living and working around the world and paying low taxes. At least they would be equalized with their national compatriots.
Wouldn't this be fair?
- Wonder what Nancy Pelosi and her husband pay in taxes? I'll bet she doesn't pay for that 757 in her income.
- I don't understand here in the UK why the UK government doesn't do with US does with its expats, ie asking them to file a tax return annually. In the US, an expat is allowed the first $70K tax free and then the dual taxation treaty comes into play. Look at all of those Brits living and working around the world and paying low taxes. At least they would be equalized with their national compatriots.
Wouldn't this be fair?
Jon,
I only chose Lewis because he was mentioned earlier in this thread. All the drivers you mentioned do great charitable deeds, but the first deed they should have done is to give back some of the benefits that they were given by staying as residents of this country, and thereby paying their fair share of taxes.
Graham.
A lot of these comments are politics of envy! If you look at the tax systems around the world, the really wealthy use the system to save themselves tax. Its legal, get used to it. I am part of middle England and I use the system to save myself tax. Its legal and I wish to have money I eanrt kept as my money. I suspect most posting on this forum also use tax rules quite legally to reduce their liability. Really poor people most likely don't like it that we do. It is just a matter of scale. If the system sucks then work to get it changed.
Another position I like to take is that the wealthy have a responsiblity to spend their money. It then filters down the chain helping everyone along the way. If they were just taxed to death the money goes into government and then gets badly spent by politicians. I would rather someone buys a big plane (or other luxuries) keeping people employed, making a company successful so that its shares support old folks pensions than a polictician setting up a new quango with the money for some weird group who go and recommend restrictions on trade etc etc.
Another position I like to take is that the wealthy have a responsiblity to spend their money. It then filters down the chain helping everyone along the way. If they were just taxed to death the money goes into government and then gets badly spent by politicians. I would rather someone buys a big plane (or other luxuries) keeping people employed, making a company successful so that its shares support old folks pensions than a polictician setting up a new quango with the money for some weird group who go and recommend restrictions on trade etc etc.
Tend to agree with you Graham, but its not just racing drivers. Even "Red Ed" the new Labour leader is managing to avoid paying tax on his houses. Everyone is at it, when was the last time you paid cash for a service? Window cleaning, car service, gardening etc.... It all counts.
It's not so much the politics of envy. I actually agree with your second paragraph to a large extent.
The biggest issue for me is that the reasonably well off pay a shit load of tax, and the super rich pay bugger all.
Domtoni has it spot on for Non Domiciles. We should have a similar system to the US whereby tax is still paid (to some degree)even if you live abroad.
THAT is the iniquity, not the fact that we don't all (to a greater or lesser degree) try to avoid tax if we can. If we search our hearts, then we are all at it, whether its bringing home too many ciggies from our holiday abroad, or offering your local builder cash to do a job to get him to reduce his prices.
Again, just to re-emphasise, I pay a fuck load of tax per year, but one of my clients who has buggered off abroad (based in Switzerland) pays sod all, and that is an unjust situation.
Graham.
Guys your absolutely right about the super rich paying no tax or very little. The people who bear the brunt of taxation in the UK is the middle classes. We earn enough to pay a shed load in tax, but not enough to be able to afford to pay clever people to reduce our tax burden.
It stinks but its the way of the world.
It stinks but its the way of the world.
It's not against the rules, as a customer, to pay cash to get a builder ( or any other service provider) to reduce his price. If he chooses not to declare it as income, then that is tax evasion, and he is committing and illegal act, but I, as the customer, have done nothing which is against the law.
My comments re British expats concern those who live and work in tax havens, or areas of reduced taxes, like Saudi Arabia. Probably not many of them and revenue would be low, but it would certainly worth the PR to the folks back home that someone is trying to straighten out the system.
Anyone who want to live and work in Saudi, can keep their taxes. Call it danger money.
If you knowingly pay a builder cash and that he will then not declare it, you are also breaking the law. Evidence to back this up will be the amount paid for the job caried out. If it is a typical days wage at a tax declaring builder level then less likley to be in trouble but if a at cheap price to boot, then you may well get done too.
Graham - Why don't you move to Switzerland?
The ultra rich will always find ways to pay less taxes. The so called "rich" that are represented by small business owners for the most part, will either downsize or move out of country if taxed to heavily. I think that this administration does not like small business because of their (the administration) being in bed with the unions. It's pretty stupid, given the tax base represented by small business. This country is small business, our way of life will end without it.
'Cos I'm not rich enough....yet....MWAHAHAHAHAHAHA
Good answer!
