Cameron suggests tax cut for richest 4% of estates

shortchanged_2

cepheus wrote: »

Richest 1% of people own nearly half of global wealth, says Credit Suisse report

The richest 1% of the world’s population are getting wealthier, owning more than 48% of global wealth,

However, more than $77,000 is required to be a member of the top 10% of global wealth holders, and $798,000 to belong to the top 1%. The findings were seized upon by anti-poverty campaigners Oxfam which published research at the start of the year showing that the richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world’s population.

Shows what a ridiculous situation it is with such a small number of people hording a huge amount of the global wealth.

Seriously what can individuals do with so much personal wealth.

MobileSaver

cepheus wrote: »

Oh yes that old straw man, rich pay 'us'.

Er, no. How is it a straw man argument? Are you disputing that the "rich" contribute more towards the costs of all the services and benefits that you and I take for granted?

cepheus wrote: »

Isn't that what Capone did?

Er, no. Capone was jailed specifically because he didn't pay tax.

MobileSaver

shortchanged wrote: »

Shows what a ridiculous situation it is with such a small number of people hording a huge amount of the global wealth.

Seriously what can individuals do with so much personal wealth.

As per the comments regarding that article, how would you suggest addressing this?

Perhaps Microsoft, Apple and Google should have all have been forced to shut down once their founders had made their first million?

Generali

cepheus wrote: »

Oh yes that old straw man, rich pay 'us'. Love to know how many on here are 'us'. According to market doctrine someone could run the most corrupt monopoly imaginable, yet they would be doing everyone a favour paying any of it back. Isn't that what Capone did?

Unless the market is heavily competitive, driving down executive pay through competition and evidence based performance (I don't buy it's any more difficult or skillful job as many low payed professions) it's not meaningful to suggest it's theirs legitimately to give.

You're conflating 'rich' and 'a handful of company directors'.

Realistically speaking, rich people earn more than about £41,000 a year.

shortchanged_2

MobileSaver wrote: »

As per the comments regarding that article, how would you suggest addressing this?

Perhaps Microsoft, Apple and Google should have all have been forced to shut down once their founders had made their first million?

Nah, I would say tax them at 80% on anything over £10 million.

Thrugelmir

Generali wrote: »

Realistically speaking, rich people earn more than about £41,000 a year.

A household with joint incomes exceeding £41k must be super rich then.

Doesn't appear fair to a single income household.

Generali

Thrugelmir wrote: »

A household with joint incomes exceeding £41k must be super rich then.

Doesn't appear fair to a single income household.

What's fair? This is just statistics.

The people in the top 15% are in the top 15%; no more, no less.

Moby

MobileSaver wrote: »

As per the comments regarding that article, how would you suggest addressing this?

Perhaps Microsoft, Apple and Google should have all have been forced to shut down once their founders had made their first million?

You tax them till the pips squeak. Spread the wealth!

princeofpounds

Those figures (the numbers at the top, not the bar chart) are for average disposable income, not household income. You'd need to earn way more than 41k to have 41k disposable income!

Generali's copy/paste leaves out the headings.

The bars are benefits received and tax paid.

methodology below

http://www.bbc.co.uk/news/uk-politics-15153803

MobileSaver

shortchanged wrote: »

Nah, I would say tax them at 80% on anything over £10 million.

Moby wrote: »

You tax them till the pips squeak. Spread the wealth!

Ah, the politics of envy!

Why would anyone carry on working if the state was taking 80% of what you generated? Answer: you wouldn't. You'd simply shut down or move elsewhere and say "So long and thanks for all the fish!"