CAll to tax super-rich are no longer limited to fringe rallies or leftist think tanks-they are now firm in political mainstream.
According to yougov, two-thirds of the British people, including most conservative voters, support. Money tax On individuals with more than £ 10 million in property.
It is not difficult to see why: The country has to face a money crisis, services are under stress, and the public is still being asked to swallow more fiscal pain. Many questions are asking that it is simple: Why should not the rich shoulder of the burden not be more?
But as i explained Independent‘S Latest ask me anythingThis is not a direct issue. The real risks are: capital flight, investor nerves, and a government that is already struggling to convince the world that the UK is open to trade.
Our existing tax system also has deep flaws, and this country has a shocking deficiency of really wealth with wealth.
during Q&AI answered your questions on everything from the silence of labor and HMRC’s blind spot For non-domes, the offshore trust and fear that we will punish the creators instead of closing the actual flaws.
Answer can not make everyone happy, but this is a debate we need to do.
Question: Is socialism not a problem here?
Margaret Thatcher once said that the problem with socialism is that you eventually get out of other people’s money to spend. We are now well past from that point. Since Blair was first elected, the political establishment has increased the burden in its highest level in history, and has created a large section of people living with welfare who do not want to do many things that need to be done. The economy is now in old stagnation, national debt is moving forward, and just like Stalin and Kulak, our political establishment is sacrificing on those who are money manufacturer and prominent taxpayers.
Mark
A: It is difficult to agree with you. We created a welfare state and NHS when our population was small. Now, they remain elephants in a crowded room that no politician touchs. Their models are no longer suitable for their intended purpose. I am not a fan of Thatcher, but she was here, although I would say that Tory governments are also guilty of the same populistism.
Question: Wouldn’t the rich just have to mold your money with a money tax?
A money tax in Britain will probably trigger a wave of asset reorganization among the rich. Those who had not already done this, they will quickly move forward to mold their money. This may include transfer of ownership of property, art, shares and other taxable assets to offshore holding companies beyond the access of foreign foundations, trusts, or HMRC.
Emiliaportic
A: I agree with your feeling, but we should do more to avoid tax and focus on theft. Britain closed one eye for offshore havans, is responsible for this – Isle of Man, Channel Islands, Cayman Island, etc. There is an entire industry that is dedicated to escape, and sometimes, develops taxes. This makes a joke to assemble the government’s claims impartially.
Question: If you deserve £ 500m then why complain about 1 percent tax increase?
What are super-vlige, essentially ensuring that they have enough money to guarantee their children and grandchildren … Why do you have an aggressively against 1 percent tax growth when you have £ 500m money or even £ 100m? You will be relaxed forever – the reason for this is that they want their children to do the same.
Crismatthus
A: It is true that rich sit on top of the mountain of wealth, but they cannot be forced to distribute it – if we try, they will leave. If we believe them in the UK, they will choose to spend, donate and invest here. It may seem naive, but the option is worse.
Question: Will you personally pay money tax or leave the UK?
Charlesmartel
A: It is unlikely that I will qualify, but if I do, I will stay – I love this country. But there are no people like me. This is something mobile at the globally that compete for nations. Other countries are falling on themselves to attract them. So we need.
Question: What about millionaire want To be taxed more?
Ilththrome
A: I am paying more tax for all millionaires – if they want To. The problem is, not much more. Some are already abroad, deciding where to go ahead. And when they do the UK list slips.
Question: If you are against money tax then how do you ensure redistribution?
Ilththrome
A: We should aim to strengthen the trickle – not a flood, but a solid flow. A previous labor government said: “We love dirty rich, provided they pay the taxes they are outstanding.” He recognized his value and wanted more of them.
Question: Which European countries still have money tax? do they work?
Charlesmartel
A: We should check Why So some countries have money taxes, when on paper, they are an easy win. Most democracy are equally tied to cash, but do not go there. Some, like Italy, are also encouraging to attract the rich. Why?
Question: Why does HMRC not know how many billionaires are there in the UK?
stage
A: Yes, it is shocking HMRC knows very little. How can they apply serious analysis with such intervals? In the US, the IRS Forbes studies the rich list and works with its compiler. We have the Sunday Times Rich List, but HMRC has paid it in relation to the scent. It is a clear place to start.
Question: Which is going to give importance to all houses, Repository of most people’s money?
Grydsdijk
A: Property experts are predicting an accident, of course in London, there should be a money tax. The value will fall at the top end, and he will have a waterfall downwards. As to assess the value of a property, there should be a mansion tax, says those estimates are already designed by the councils to tax councils.
Question: Labor silence on wealth tax is a sign that they are considering it?
Babenb
A: Almost certainly, yes. If they were not, they will say so and end speculation, which is already sending rich abroad and discouraging investment. Their silence shows that they are weighing it carefully.
Question: Why is there no action despite public support?
All-time
A: Because they know that it will harm business and wealth creation. The richest people are those who do business and invest. A money tax sends a negative message to potential investors how Britain sees them.
Question: How can a democratic government oppose a popular policy properly?
Jais
A: They can justify it, because when popular, it comes at a cost. It is a matter of head -heading head. Yes, it seems rich that services seem better to bite, but it is not so easy – the tax system can be made more efficient, some gradual governments have failed to do it.
These questions and answers were part of one ‘Ask me anything’ hosted by Chris Blackharst ‘ BST at 6 pm on Wednesday, 16 July. Some questions and answers have been edited for this article. You can read the complete discussion in the comment section Original article,
For more insight into the UK politics, check the weekly common newspapers of John’Rentaul. Email, independent for exclusive Outward value Subscriber, takes you behind the curtain of the Westminster. If it seems something you are interested, Head here to learn more.
