comment by Sir Digby (U6039)
posted 17 minutes ago
And the fact he unashamedly utilised various tax avoidance schemes
Most would if rich
----------------------------------------------------------------------
True. But the POTUS is supposed to show/display leadership. To date, he's demonstrated he's not capable of leading anything but shares in sun bed companies.
Whether you agree with his politics or not he's inept at healing divisions. And is likely to exacerbate social and political disagreement and hostility.
comment by thebluebellsareblue (U9292)
posted 26 minutes ago
comment by What would Stuart Pearce do? (U3126)
posted 2 minutes ago
comment by Sir Digby (U6039)
posted 23 minutes ago
So you think trump has been good so far then
----------------------------------------------------------------------
The fact that Trump will never release his tax returns tells you all you need to know about his attitude to taxation. And the fact he unashamedly utilised various tax avoidance schemes.
Much like many UK politicians, (97% of Ukip MEP's) who continually vote against tax avoidance, tax fraud reforms.
----------------------------------------------------------------------
Like most at the top, he is well dodgy.
Could've been a wise move putting a CEO cabal in charge of America this time.
We will see.
The women and lgbt folk out marching today......selective social warriors, as they ignore the plight of women and gay people all over the world, but jump on a trendy bandwagon.
Makes them look silly.
----------------------------------------------------------------------
Understand the marches were worldwide, and was the largest inaugural march in history.
Given Trump's past treatment and contempt towards women, can understand why so many attended.
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
comment by What would Stuart Pearce do? (U3126)
posted about 2 hours ago
comment by Sir Digby (U6039)
posted 17 minutes ago
And the fact he unashamedly utilised various tax avoidance schemes
Most would if rich
----------------------------------------------------------------------
True. But the POTUS is supposed to show/display leadership. To date, he's demonstrated he's not capable of leading anything but shares in sun bed companies.
Whether you agree with his politics or not he's inept at healing divisions. And is likely to exacerbate social and political disagreement and hostility.
----------------------------------------------------------------------
I'm not a Trump fan but the media have done a good job to portray him quite poorly.
Take for example when they said about him mocking a disabled reporter! totally fabricated when you look at this
https://www.youtube.com/watch?v=_8JqT2atxD8
It should be a non story really if they actually did their jobs properly, how much have they manipulated other stuff.
Also it's been said that George Soros has been paying the media, protesters, BLM to ignite this hostility.
But Trump needs to learn to just shut up, he really doesn't have to respond to every criticism of him. someone needs to take his twitter account from him.
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 22 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
----------------------------------------------------------------------
Im not talking about taxing low earning small business earners or attacking entrepreneurs am I? Small business earners operating on small margins shouldn't be paying any tax.
I'm talking about taxing mega rich people who could live a hundred lifetimes very comfortably on their bank balances in order to stimulate growth by ensuring cash circulates, rather than allowing them to stockpile wealth, thus strangling the economy.
Passion Power
Whilst some of the media reporting hasn't been great, he brings it on himself. He's a complete narcissist.
Today, while addressing the CIA he went to great lengths to convey to them (the countries intelligent community) how many times he'd been on the front page of Time magazine (who subsequently corrected him). I'm sure that's just the sort of insight they were looking for from their new boss...
He then went on a incoherent rant (again which was false) over the amount of people who turned up at his inauguration. Utter gibberish.
comment by What would Stuart Pearce do? (U3126)
posted 4 minutes ago
Passion Power
Whilst some of the media reporting hasn't been great, he brings it on himself. He's a complete narcissist.
Today, while addressing the CIA he went to great lengths to convey to them (the countries intelligent community) how many times he'd been on the front page of Time magazine (who subsequently corrected him). I'm sure that's just the sort of insight they were looking for from their new boss...
He then went on a incoherent rant (again which was false) over the amount of people who turned up at his inauguration. Utter gibberish.
----------------------------------------------------------------------
He even went as far as to deny the things he said about the CIA, in the wake of the Russia allegations, by blaming the media.
He forgets most of this criticism was made from his personal Twitter account;
"Donald J. Trump ✔ @realDonaldTrump
Intelligence agencies should never have allowed this fake news to "leak" into the public. One last shot at me.Are we living in N4zi Germany?
12:48 PM - 11 Jan 2017
32,139 32,139 Retweets 110,099 110,099 likes"
I swear he's mentally ill.
comment by rossobianchi - Got_Nameback (U17054)
posted 1 hour, 21 minutes ago
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 22 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
----------------------------------------------------------------------
Im not talking about taxing low earning small business earners or attacking entrepreneurs am I? Small business earners operating on small margins shouldn't be paying any tax.
I'm talking about taxing mega rich people who could live a hundred lifetimes very comfortably on their bank balances in order to stimulate growth by ensuring cash circulates, rather than allowing them to stockpile wealth, thus strangling the economy.
----------------------------------------------------------------------
I'm hoping to get my revenues (not profit) at $70K per month end of this year, so I'm not looking at being a small business owner for the rest of my life.
I want a good retirement, I aiming to be financially independent.
What do you class as super rich?
My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me.
I should be allowed to give my money to who I want, what charities I want, when I want not forced to give to lazy people who don't want to work.
The system needs to get the abled body to work, maybe we would've have enough money for those who really need it.
The issue with this let's tax the rich whatever, people really don't know what goes into being successful and rich, they seem to think that most rich just get it handed to them. NO, most work for it, they work their butts off, they study their butts off!
Comment deleted by Site Moderator
Passion Power
Good luck with your business. I hope you achieve your goal
As Dave has said above, when you pay tax, you aren't giving to "lazy people who don't want to work." A small proportion of what you'd pay would fund Jobseeker's Allowance; a minuscule proportion would end up in the pockets of benefit fraudsters.
(Did you know that all personal benefit fraud combined costs the country less than a tenth as much as tax evasion and avoidance every year?)
Your tax contributions *overwhelmingly* pay for essential services: your healthcare, education, infrastructure (roads, railways, airports, the national grid, sewage systems...), national security, armed forces, emergency services, the justice system, etc.
Most of those people claiming Jobseeker's Allowance are actively searching for a job. They are doing so because it isn't actually very easy to live on Jobseeker's Allowance.
Many struggle to find jobs because in the area in which they live there are very few jobs, and in recent years, many of the new jobs that have appeared have offered so few hours they wouldn't support an individual, let alone one with dependents. We need to create economic conditions that work for the creation of stable, long term, full time primarily skilled jobs.
This links directly to the issue of the circulation of capital and the mega rich.
By mega rich I suppose I mean something like people earning over £500k per year or with assets over £2m. These are people who are very comfortably in the richest 1% of people on the planet.
The richest 1% control the vast majority of the world's individual wealth. The bulk of that wealth is not spent. It does not circulate. It is not productive. It does not buy goods and services (which is actually what creates jobs).
If you want to know who really creates jobs, or to put it better, which groups of people create jobs to the best of their economic ability, it is those people who spend their disposable income. That is primarily the working and lower middle classes.
(Did you know that all personal benefit fraud combined costs the country less than a tenth as much as tax evasion and avoidance every year?)
-----------
I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion.
For example, a girl I use to mentor, she and her kid have got a two bedroom flat and doesn't work.
Yet I pay my taxes and I have to pay over £1000 rent for the same flat.
By mega rich I suppose I mean something like people earning over £500k per year or with assets over £2m. These are people who are very comfortably in the richest 1% of people on the planet.
--------------
No I think you will find that you are in that 1% of the richest people on the planet.
Also £500K and asset of £2m is very little this day and age, If I was taxed heavily on that I would do my business elsewhere. This is the danger you have when you unfairly tax people too much.
Instead of unfairly taxing the higher owners ludicrous amounts they should incentivise them to give to schemes to generate jobs or something more positive.
Another wrong assumption is that there is a limit of money available, currency is no longer aligned to an infinite property so no, there is not a limit on money available.
@Brightdave: (U11711)
Yes you're right about people working hard still getting nothing, but it's about what you choose to work hard in.
People pay people to solve their issues, I don't expect a brain surgeon to earn the same as a factory worker, I can replace a factory worker easily, I can’t replace a brain surgeon at a whim.
Also I doubt Trump is tax dodging illegally, the IRS would've had his arrsse in prison by now if he did, they are ruthless.
I believe in paying tax but a fair one for the efforts I'm putting in now, I do expect a nice nest egg in the future.
I wish we had a culture in England where we were more self starters and not look into the government to fix our problems. We are a bit better than most countries but we have a long way to go.
I have an issue with this comment;
"My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me"
For example it is more than likely that I do not earn as much as you. The implication that I do not work as hard as you as a result is wrong. Another way of looking at it is. Would you say a person working 2 jobs, 60/70+ hours pw, for low/minimum wages doesn't work as hard as you or sacrifice as much?
I should add. The CEO's and shareholders of Apple, Amazon et al have enough money to see themselves and several generations of their families through a life we can only aspire to. What justification is there for them not meeting their tax obligations?
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
PP is a rich girl
PP....wanna marry me girl ?
comment by Coutinho's Happy Feet (U18971)
posted 4 hours, 12 minutes ago
I have an issue with this comment;
"My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me"
For example it is more than likely that I do not earn as much as you. The implication that I do not work as hard as you as a result is wrong. Another way of looking at it is. Would you say a person working 2 jobs, 60/70+ hours pw, for low/minimum wages doesn't work as hard as you or sacrifice as much?
----------------------------------------------------------------------
Maybe "working hard'" is the wrong term to use. But there is more risk going it alone, a person who works in Mcdees may work 50 hours a week but they are guaranteed to get paid.
A person who works in their business works 18 hours a day and may not get paid if it they don't earn any money. Your income is not fixed, it takes a lot of studying, sacrificing, pain to get to a place where Apple or Amazon are. All people see is the success but they don't see the sweat and tears it took to get there.
I'm not a fan of Amazon (as I think they are getting too powerful, 50% of online commerce was through Amazon) however they have given normal people like you and me the chance to create businesses and be wealthy.
If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes.
Please note: I don't agree with tax avoidance, "Give unto Caesar what's due unto Caesar" I oppose unfair tax like you guys are proposing. I think it's theft and unfair.
comment by peksson savastano (U6618)
posted about 4 hours ago
PP is a rich girl
PP....wanna marry me girl ?
----------------------------------------------------------------------
No peks I'm not rich yet, I'm still living on my savings and trying to get consistency with what I'm doing, some years are great some years are terrible. As I said $500K revenue isn't that much when you don't have a system in place to replicate it and grow.
comment by rossobianchi - Got_Nameback (U17054)
posted about 5 hours ago
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
----------------------------------------------------------------------
Interesting, can I see the report please?
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 47 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted about 5 hours ago
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
----------------------------------------------------------------------
Interesting, can I see the report please?
----------------------------------------------------------------------
Tax Research UK's latest report (FY 2013/14) estimated the cost to the UK economy of tax avoidance to be £19.1bn and tax evasion to be £82.1bn (combined £101.2bn).
http://www.taxresearch.org.uk/Documents/PCSTaxGap2014.pdf
DWP Social Security costs for FY 2014/15 according to OBR was £166.5bn, of which £93.1bn was pension credit and state pension payments, leaving £73.4bn paid in non-pension benefits by DWP.
That includes the lot: housing benefit, DLA, incapacity benefits, carer's allowance, maternity and paternity pay, income support, winter fuel payments, JSA, universal credit, etc.
http://budgetresponsibility.org.uk/docs/dlm_uploads/EFO_November__2015.pdf
comment by Coutinho's Happy Feet (U18971)
posted 1 hour, 58 minutes ago
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
----------------------------------------------------------------------
I disagree with illegally avoiding tax. Where did I say that he should avoid paying it?
@ rossobianchi - Got_Nameback (U17054)
thanks, next weekends reading
have a great week
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 27 minutes ago
comment by Coutinho's Happy Feet (U18971)
posted 1 hour, 58 minutes ago
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
----------------------------------------------------------------------
I disagree with illegally avoiding tax. Where did I say that he should avoid paying it?
----------------------------------------------------------------------
Him and Amazon are not evading paying their tax liability, which is illegal. They are using legal loopholes to avoid paying what is due. There's a difference between evasion and avoidance.
I was in New York yesterday and saw loads of the protesting wallys wasting their time, quite comical.
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 10 hours, 4 minutes ago
@ rossobianchi - Got_Nameback (U17054)
thanks, next weekends reading
have a great week
----------------------------------------------------------------------
The first report is actually interesting reading.
The OBR report will literally kill you by triggering a boredom-induced coma if you try to get through it front to back. I'd skip to the relevant part
Sign in if you want to comment
Anything Goes Politics Edition
Page 14 of 274
15 | 16 | 17 | 18 | 19
posted on 21/1/17
comment by Sir Digby (U6039)
posted 17 minutes ago
And the fact he unashamedly utilised various tax avoidance schemes
Most would if rich
----------------------------------------------------------------------
True. But the POTUS is supposed to show/display leadership. To date, he's demonstrated he's not capable of leading anything but shares in sun bed companies.
Whether you agree with his politics or not he's inept at healing divisions. And is likely to exacerbate social and political disagreement and hostility.
posted on 21/1/17
comment by thebluebellsareblue (U9292)
posted 26 minutes ago
comment by What would Stuart Pearce do? (U3126)
posted 2 minutes ago
comment by Sir Digby (U6039)
posted 23 minutes ago
So you think trump has been good so far then
----------------------------------------------------------------------
The fact that Trump will never release his tax returns tells you all you need to know about his attitude to taxation. And the fact he unashamedly utilised various tax avoidance schemes.
Much like many UK politicians, (97% of Ukip MEP's) who continually vote against tax avoidance, tax fraud reforms.
----------------------------------------------------------------------
Like most at the top, he is well dodgy.
Could've been a wise move putting a CEO cabal in charge of America this time.
We will see.
The women and lgbt folk out marching today......selective social warriors, as they ignore the plight of women and gay people all over the world, but jump on a trendy bandwagon.
Makes them look silly.
----------------------------------------------------------------------
Understand the marches were worldwide, and was the largest inaugural march in history.
Given Trump's past treatment and contempt towards women, can understand why so many attended.
posted on 21/1/17
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
posted on 21/1/17
comment by What would Stuart Pearce do? (U3126)
posted about 2 hours ago
comment by Sir Digby (U6039)
posted 17 minutes ago
And the fact he unashamedly utilised various tax avoidance schemes
Most would if rich
----------------------------------------------------------------------
True. But the POTUS is supposed to show/display leadership. To date, he's demonstrated he's not capable of leading anything but shares in sun bed companies.
Whether you agree with his politics or not he's inept at healing divisions. And is likely to exacerbate social and political disagreement and hostility.
----------------------------------------------------------------------
I'm not a Trump fan but the media have done a good job to portray him quite poorly.
Take for example when they said about him mocking a disabled reporter! totally fabricated when you look at this
https://www.youtube.com/watch?v=_8JqT2atxD8
It should be a non story really if they actually did their jobs properly, how much have they manipulated other stuff.
Also it's been said that George Soros has been paying the media, protesters, BLM to ignite this hostility.
But Trump needs to learn to just shut up, he really doesn't have to respond to every criticism of him. someone needs to take his twitter account from him.
posted on 21/1/17
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 22 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
----------------------------------------------------------------------
Im not talking about taxing low earning small business earners or attacking entrepreneurs am I? Small business earners operating on small margins shouldn't be paying any tax.
I'm talking about taxing mega rich people who could live a hundred lifetimes very comfortably on their bank balances in order to stimulate growth by ensuring cash circulates, rather than allowing them to stockpile wealth, thus strangling the economy.
posted on 21/1/17
Passion Power
Whilst some of the media reporting hasn't been great, he brings it on himself. He's a complete narcissist.
Today, while addressing the CIA he went to great lengths to convey to them (the countries intelligent community) how many times he'd been on the front page of Time magazine (who subsequently corrected him). I'm sure that's just the sort of insight they were looking for from their new boss...
He then went on a incoherent rant (again which was false) over the amount of people who turned up at his inauguration. Utter gibberish.
posted on 21/1/17
comment by What would Stuart Pearce do? (U3126)
posted 4 minutes ago
Passion Power
Whilst some of the media reporting hasn't been great, he brings it on himself. He's a complete narcissist.
Today, while addressing the CIA he went to great lengths to convey to them (the countries intelligent community) how many times he'd been on the front page of Time magazine (who subsequently corrected him). I'm sure that's just the sort of insight they were looking for from their new boss...
He then went on a incoherent rant (again which was false) over the amount of people who turned up at his inauguration. Utter gibberish.
----------------------------------------------------------------------
He even went as far as to deny the things he said about the CIA, in the wake of the Russia allegations, by blaming the media.
He forgets most of this criticism was made from his personal Twitter account;
"Donald J. Trump ✔ @realDonaldTrump
Intelligence agencies should never have allowed this fake news to "leak" into the public. One last shot at me.Are we living in N4zi Germany?
12:48 PM - 11 Jan 2017
32,139 32,139 Retweets 110,099 110,099 likes"
I swear he's mentally ill.
posted on 22/1/17
comment by rossobianchi - Got_Nameback (U17054)
posted 1 hour, 21 minutes ago
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 22 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 2 hours, 55 minutes ago
comment by Sir Digby (U6039)
posted 8 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted 33 minutes ago
Passion Power
The undeniable fact is that growth and economic prosperity under a free market capitalist system require the circulation of money.
A wider rich-poor divide and the mega rich stockpiling wealth which does not circulate is damaging to the economy and job creation. 'Trickle down' economics has been demonstrated repeatedly to be a complete fallacy in practice.
----------------------------------------------------------------------
What system would you rather be in place?
----------------------------------------------------------------------
One that attempts to collect tax from super high earners, both companies and individuals; one that actively penalises the stockpiling of, rather than circulation and redistribution of, wealth; one that promotes a competitive meritocracy by raising and attempting to collect inheritance tax.
----------------------------------------------------------------------
That's blatant theft. I say that because I'm a business owner, I left my cushy job to get my own thing going, working 7 days a week, working over 18 hour days. I don't go on holidays, I live on very little now.
Why should I give my hard earned money to people that don't want to work as hard. I'm not talking about the actual needy, but instead of taxing why don't we educate people to be more entrepreneurial, to educate them more about money.
If this is the way the country is going, taxing hard working businesses owners like me, I will definitely find legal ways to pay as little tax as possible.
----------------------------------------------------------------------
Im not talking about taxing low earning small business earners or attacking entrepreneurs am I? Small business earners operating on small margins shouldn't be paying any tax.
I'm talking about taxing mega rich people who could live a hundred lifetimes very comfortably on their bank balances in order to stimulate growth by ensuring cash circulates, rather than allowing them to stockpile wealth, thus strangling the economy.
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I'm hoping to get my revenues (not profit) at $70K per month end of this year, so I'm not looking at being a small business owner for the rest of my life.
I want a good retirement, I aiming to be financially independent.
What do you class as super rich?
My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me.
I should be allowed to give my money to who I want, what charities I want, when I want not forced to give to lazy people who don't want to work.
The system needs to get the abled body to work, maybe we would've have enough money for those who really need it.
The issue with this let's tax the rich whatever, people really don't know what goes into being successful and rich, they seem to think that most rich just get it handed to them. NO, most work for it, they work their butts off, they study their butts off!
posted on 22/1/17
Comment deleted by Site Moderator
posted on 22/1/17
Passion Power
Good luck with your business. I hope you achieve your goal
As Dave has said above, when you pay tax, you aren't giving to "lazy people who don't want to work." A small proportion of what you'd pay would fund Jobseeker's Allowance; a minuscule proportion would end up in the pockets of benefit fraudsters.
(Did you know that all personal benefit fraud combined costs the country less than a tenth as much as tax evasion and avoidance every year?)
Your tax contributions *overwhelmingly* pay for essential services: your healthcare, education, infrastructure (roads, railways, airports, the national grid, sewage systems...), national security, armed forces, emergency services, the justice system, etc.
Most of those people claiming Jobseeker's Allowance are actively searching for a job. They are doing so because it isn't actually very easy to live on Jobseeker's Allowance.
Many struggle to find jobs because in the area in which they live there are very few jobs, and in recent years, many of the new jobs that have appeared have offered so few hours they wouldn't support an individual, let alone one with dependents. We need to create economic conditions that work for the creation of stable, long term, full time primarily skilled jobs.
This links directly to the issue of the circulation of capital and the mega rich.
By mega rich I suppose I mean something like people earning over £500k per year or with assets over £2m. These are people who are very comfortably in the richest 1% of people on the planet.
The richest 1% control the vast majority of the world's individual wealth. The bulk of that wealth is not spent. It does not circulate. It is not productive. It does not buy goods and services (which is actually what creates jobs).
If you want to know who really creates jobs, or to put it better, which groups of people create jobs to the best of their economic ability, it is those people who spend their disposable income. That is primarily the working and lower middle classes.
posted on 22/1/17
(Did you know that all personal benefit fraud combined costs the country less than a tenth as much as tax evasion and avoidance every year?)
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I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion.
For example, a girl I use to mentor, she and her kid have got a two bedroom flat and doesn't work.
Yet I pay my taxes and I have to pay over £1000 rent for the same flat.
By mega rich I suppose I mean something like people earning over £500k per year or with assets over £2m. These are people who are very comfortably in the richest 1% of people on the planet.
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No I think you will find that you are in that 1% of the richest people on the planet.
Also £500K and asset of £2m is very little this day and age, If I was taxed heavily on that I would do my business elsewhere. This is the danger you have when you unfairly tax people too much.
Instead of unfairly taxing the higher owners ludicrous amounts they should incentivise them to give to schemes to generate jobs or something more positive.
Another wrong assumption is that there is a limit of money available, currency is no longer aligned to an infinite property so no, there is not a limit on money available.
@Brightdave: (U11711)
Yes you're right about people working hard still getting nothing, but it's about what you choose to work hard in.
People pay people to solve their issues, I don't expect a brain surgeon to earn the same as a factory worker, I can replace a factory worker easily, I can’t replace a brain surgeon at a whim.
Also I doubt Trump is tax dodging illegally, the IRS would've had his arrsse in prison by now if he did, they are ruthless.
I believe in paying tax but a fair one for the efforts I'm putting in now, I do expect a nice nest egg in the future.
I wish we had a culture in England where we were more self starters and not look into the government to fix our problems. We are a bit better than most countries but we have a long way to go.
posted on 22/1/17
I have an issue with this comment;
"My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me"
For example it is more than likely that I do not earn as much as you. The implication that I do not work as hard as you as a result is wrong. Another way of looking at it is. Would you say a person working 2 jobs, 60/70+ hours pw, for low/minimum wages doesn't work as hard as you or sacrifice as much?
posted on 22/1/17
I should add. The CEO's and shareholders of Apple, Amazon et al have enough money to see themselves and several generations of their families through a life we can only aspire to. What justification is there for them not meeting their tax obligations?
posted on 22/1/17
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
posted on 22/1/17
PP is a rich girl
PP....wanna marry me girl ?
posted on 22/1/17
comment by Coutinho's Happy Feet (U18971)
posted 4 hours, 12 minutes ago
I have an issue with this comment;
"My question still stands, I've sacrificed a lot to get where I am, why should I be penalised to pay more tax for someone that doesn't work as hard as me or sacrifice as much as me"
For example it is more than likely that I do not earn as much as you. The implication that I do not work as hard as you as a result is wrong. Another way of looking at it is. Would you say a person working 2 jobs, 60/70+ hours pw, for low/minimum wages doesn't work as hard as you or sacrifice as much?
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Maybe "working hard'" is the wrong term to use. But there is more risk going it alone, a person who works in Mcdees may work 50 hours a week but they are guaranteed to get paid.
A person who works in their business works 18 hours a day and may not get paid if it they don't earn any money. Your income is not fixed, it takes a lot of studying, sacrificing, pain to get to a place where Apple or Amazon are. All people see is the success but they don't see the sweat and tears it took to get there.
I'm not a fan of Amazon (as I think they are getting too powerful, 50% of online commerce was through Amazon) however they have given normal people like you and me the chance to create businesses and be wealthy.
If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes.
Please note: I don't agree with tax avoidance, "Give unto Caesar what's due unto Caesar" I oppose unfair tax like you guys are proposing. I think it's theft and unfair.
posted on 22/1/17
comment by peksson savastano (U6618)
posted about 4 hours ago
PP is a rich girl
PP....wanna marry me girl ?
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No peks I'm not rich yet, I'm still living on my savings and trying to get consistency with what I'm doing, some years are great some years are terrible. As I said $500K revenue isn't that much when you don't have a system in place to replicate it and grow.
posted on 22/1/17
comment by rossobianchi - Got_Nameback (U17054)
posted about 5 hours ago
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
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Interesting, can I see the report please?
posted on 22/1/17
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
posted on 22/1/17
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 47 minutes ago
comment by rossobianchi - Got_Nameback (U17054)
posted about 5 hours ago
"I'm not talking about benefit fraud, but I'm talking about able people who can work but don't. We spend more on that on than tax evasion."
Actually tax evasion and avoidance costs the UK more every year than total spending on all state benefits (in fact, it costs more than the Department for Work and Pensions' entire budget if you exclude state pensions contributions).
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Interesting, can I see the report please?
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Tax Research UK's latest report (FY 2013/14) estimated the cost to the UK economy of tax avoidance to be £19.1bn and tax evasion to be £82.1bn (combined £101.2bn).
http://www.taxresearch.org.uk/Documents/PCSTaxGap2014.pdf
DWP Social Security costs for FY 2014/15 according to OBR was £166.5bn, of which £93.1bn was pension credit and state pension payments, leaving £73.4bn paid in non-pension benefits by DWP.
That includes the lot: housing benefit, DLA, incapacity benefits, carer's allowance, maternity and paternity pay, income support, winter fuel payments, JSA, universal credit, etc.
http://budgetresponsibility.org.uk/docs/dlm_uploads/EFO_November__2015.pdf
posted on 22/1/17
comment by Coutinho's Happy Feet (U18971)
posted 1 hour, 58 minutes ago
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
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I disagree with illegally avoiding tax. Where did I say that he should avoid paying it?
posted on 22/1/17
@ rossobianchi - Got_Nameback (U17054)
thanks, next weekends reading
have a great week
posted on 22/1/17
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 27 minutes ago
comment by Coutinho's Happy Feet (U18971)
posted 1 hour, 58 minutes ago
"If Jeff Bezos has money for 5 generations then good on him, he's done so much for the world economy and mom & pop businesses in the US & UK.
Also a lot of these businesses give a lot to good causes"
This is no justification for avoiding paying the taxes he knows is due. I earn above the average wage, pay taxes and provide for my family, You are kidding yourself if you think tax avoidance is about anything other than greed.
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I disagree with illegally avoiding tax. Where did I say that he should avoid paying it?
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Him and Amazon are not evading paying their tax liability, which is illegal. They are using legal loopholes to avoid paying what is due. There's a difference between evasion and avoidance.
posted on 22/1/17
I was in New York yesterday and saw loads of the protesting wallys wasting their time, quite comical.
posted on 23/1/17
comment by Passion Power -I'm a .....¯\_(ツ)_/¯ (U8398)
posted 10 hours, 4 minutes ago
@ rossobianchi - Got_Nameback (U17054)
thanks, next weekends reading
have a great week
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The first report is actually interesting reading.
The OBR report will literally kill you by triggering a boredom-induced coma if you try to get through it front to back. I'd skip to the relevant part
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