Politics Today

[Alistair20000]

The "tax gap" is pure speculation.

 

[Alistair20000]

The lions share of high earners also can't leave it he country for their job cos they're PAYE. Close down non dom status and problem solved.

This will raise relative peanuts.

Non doms will simply restructure their overseas ownership of assets to get round things or fook off to a more welcoming country such as France.

 

[angelic upstart]

This will raise relative peanuts.

Non doms will simply restructure their overseas ownership of assets to get round things or fook off to a more welcoming country such as France.

What like Gerard Depardieu did

No, what I mean is most high earners outside of the mega rich (or does trickle down only apply to them?) are on PAYE and aren't in a position to move abroad. Some may try and claim non dom status as they're semi retired in Southern Spain (or suchlike) but if some of these loopholes are closed. They have an option to live in Spain or live here and pay tax in the UK.

Personally, I don't think trickle down works, neither does taxing the wealthier excessive amounts. I also think with a global economy like the one we have, we need to look at a totally new strategy when it comes to tax. Possibly, moving away from personal taxation, and to purchase taxation.

 

[Alistair20000]

What like Gerard Depardieu did

No, what I mean is most high earners outside of the mega rich (or does trickle down only apply to them?) are on PAYE and aren't in a position to move abroad. Some may try and claim non dom status as they're semi retired in Southern Spain (or suchlike) but if some of these loopholes are closed. They have an option to live in Spain or live here and pay tax in the UK.

Personally, I don't think trickle down works, neither does taxing the wealthier excessive amounts. I also think with a global economy like the one we have, we need to look at a totally new strategy when it comes to tax. Possibly, moving away from personal taxation, and to purchase taxation.

Depardieu became resident in Belgium to avoid tax on French source income. Nothing to do with non dom issues. Proves the point though that if your taxes are too high folk that are able simply bugger off elsewhere.

It is very hard to claim non dom status if you are born here and live here.

The PAYE folk you refer to are probably not non doms and have no foreign income. Remember that non dorms pay tax here on all their U.K. source income.

Tax on purchases rather than tax on income and capital gains is highly regressive. While not a woolly well meaning Socialist like my friend arthur I think tax on income has to be a big part of our revenue gathering.

 

[tavyred]

Does anyone know what the level of tax was in the mid 1970’s when that great defender of the NHS and Tory basher Rod Stewart decided to feck off with all his millions in about 1975?

 

[Alistair20000]

Does anyone know what the level of tax was in the mid 1970’s when that great defender of the NHS and Tory basher Rod Stewart decided to feck off with all his millions in about 1975?

Broadly up to 83% on earned income and 98% on unearned income imposed by the disastrous 1974/79 Labour governments.

 

[tavyred]

Broadly up to 83% on earned income and 98% on unearned income imposed by the disastrous 1974/79 Labour governments.

I tend to lean left on tax and spend, but even I know that if folks want decent well funded public services it has to come primarily via hard choices on what we spend our money on. Cutting tax evasion and squeezing the rich until the pips squeak (and they inevitably feck off) in a £3 trillion sized economy is akin to a rounding error.
I don’t sense the potential incoming labour government is interested too much in making those hard choices, they must have spent that non doms cash 10 times already and their Defence chap is giving a speech today on building up our military again.

 

[Mr Jinx]

Broadly up to 83% on earned income and 98% on unearned income imposed by the disastrous 1974/79 Labour governments.

And remind me how that went?

If you don't believe in trickle down though, I don't see why you wouldn't support it.

It weren't just Rod the Mod that upped sticks, it was a lot if not most of the seventies UK rock bands.

Made for some great songs though. Who can forget "Living on an Island" by rock gods Status Quo. Written about their time in self imposed exile in Jersey of all places!

 

[Radio Free Skaro]

Does anyone know what the level of tax was in the mid 1970’s when that great defender of the NHS and Tory basher Rod Stewart decided to feck off with all his millions in about 1975?

If people like Rod Stewart think that the Tories are shit, then they are in trouble!

 

[Radio Free Skaro]

(8) Putting Dole Up To £1K A Week | Kevin Bridges: A Whole Different Story - YouTube

This is a great set from Kevin Bridges, an alternative to trickle-down economics

Brilliant stuff!