"If you brought in a wealth tax of just 2% on people with assets of over £10m that would raise £24 billion a year" – @hackneyabbott.bsky.social We couldn't agree more. - ThreadSky

taxjusticeuk.bsky.social • 5 days ago

"If you brought in a wealth tax of just 2% on people with assets of over £10m that would raise £24 billion a year" – @hackneyabbott.bsky.social

We couldn't agree more.

Comments

jhhdk.bsky.social•5 days ago

Atleast until they found ways to hide their assets.
It is sometimes difficult not to be tempted by crypto utopia of complete transparency that blockchain could offer.
Atleast until you remember that cyberstalking might be an issue.

edsurridge.bsky.social•4 days ago

The latest Gary's Economics on how to save our economy from collapsing should be shared here already. Sorry if I missed it

https://youtu.be/rAb_p5DCC3E?...

edsurridge.bsky.social•4 days ago

Supporting a first black women MP says something to the far right & all

I commented on a recent James O'Brien YouTube

Gary had 900K subscribers when I looked a few days ago. Now it's 1.1M
Team went AI for political strategy and ego is being aside

Citizens Assembies for integrity

kevin-on-earth.bsky.social•5 days ago

We really, really, really need the concept of a #100pcTax ceiling set in concrete.
NO-one who has a "net worth" of a $billion "earned" that. Other people did the earning. That needs to be recognised & corrected.

inkyslinky.bsky.social•5 days ago

2% tax on assets over 10 million is not even noticeable as the compound interest on savings is higher than 2%
Why should they get huge interest on their excess wealth 💰 but not paying tax on their excess wealth? Why do the mega, mega rich resent paying towards the community and nation they live in

adybee.bsky.social•5 days ago

Unfortunately (for us) most wealthy people actually think that they deserve all their money…
#Greed
#Entitlement
#TaxTheRich
#MemeForToday

barneymac66.bsky.social•4 days ago

The Labour Party ceased to exist following Blair's ditching of Clause 4 and the consequent re-brand to New Labour. Thus began the transformation of a workers', socialist, left-wing party into the neo-Con, right-wing mess we have in power today.

stethemcd.bsky.social•5 days ago

Which could be used to cut taxes for the working classes. To give them more money to spend on goods and services, which would actually grow the economy, rather than just sitting with the wealthy, being used to buy more assets.

silent-cycling.bsky.social•5 days ago

Indeed, take steps toward breaking (one of) the inequality feedback loop(s).

peterelee.bsky.social•5 days ago

Simple solutions are rarely simple. Those who espouse them most often are.

kevin-on-earth.bsky.social•5 days ago

Complicated solutions are invariably made complicated for nefarious purposes.
By nefarious people.

stopthetories.bsky.social•5 days ago

And if you brought in a wealth tax then the rich would hide their wealth in trust and in disguised ownership to avoid it. Proving ownership and valuing it would balloon the administrative costs making it near worthless.

daggerforest.com•5 days ago

what would be your solution then?

stopthetories.bsky.social•5 days ago

A land tax. Land cannot be moved and ownership cannot be easily transferred.

silent-cycling.bsky.social•5 days ago

If they hide it to avoid clear ownership then you rule it isn't there's as they can't prove it. Take it from them.
If they then claim oh but it's mine you nail them for tax avoidance.
If they have sense they pay fair.

silent-cycling.bsky.social•5 days ago

Trouble is the outcomes for them in attempted avoidance are too soft. Compared to potential hunger, cold, even death for people at the poor end who get money taken away or fined.
Balance the jeopardy. Cheat and potentially lose everything or play fair.

daggerforest.com•5 days ago

that's the way to go

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