The question is - raising tax on whom? Wealth tax, anyone? @patmillsuk.bsky.social - ThreadSky

carolinelucas.bsky.social • 93 days ago

The question is - raising tax on whom? Wealth tax, anyone? @patmillsuk.bsky.social

GUARDIAN: No alternative to raising tax, defiant chancellor to tell CBI #TomorrowsPapersToday

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There's such an uneven distribution of wealth in this country (and many others) that at some point something will need to change. But I can't see anything happening on that front soon.

misterp55.bsky.social•93 days ago

All alternatives I’ve heard/read are still based on Reeve’s (Thatcher’s) belief that the gov’t runs like a household.

Our gov’t is the sole issuer of the £, it needs neither tax nor borrowing to fund spending, it spends every day with new £s. #MMT

https://youtu.be/GHnW_V5dfu0?si=TUwkJ5PDYGXTVexg

misterboote.bsky.social•93 days ago

How much in state subsidies to these moaning businesses effectively receive in the form of UC & benefits to their underpaid employees? How many employees have they shed in the past 10 yrs due to automation? Who carries that cost?

rbw66.bsky.social•93 days ago

I find it difficult to stomach the denial of proportionate collective responsibility to the well-being of the State that's endemic amongst the richest in society, that handful of very wealthy people who benefit disproportionately from investment in the necessary apparatus of a functioning state.

neoeonone.bsky.social•93 days ago

csav55.bsky.social•93 days ago

Big business always whine when they're asked to pay more, they much prefer the employees rather than their shareholders to carry the burden. I dug this up from 2006 when they were whining about a rise in the minimum wage.

alannfylde.bsky.social•93 days ago

What annoys me about all this rubbish is NI has gone up by 1.2%, all the furore would make you think it was a brand new tax that employers have never paid before and the minimum wage is still quite low, just stop moaning, if the economy doesn't turn you get your beloved 'f... Business' Tories back.

csav55.bsky.social•93 days ago

Exactly but of course the media report it and use it as another stick to beat Labour with.

nigelcallaghan.bsky.social•93 days ago

Of course not! Taxing the poor is much more effective. Taking £100 off everyone living in poverty will raise billions, taking £100 off every billionaire won't fund Starmer's optician's bill.

No brainier.

sinurata.bsky.social•93 days ago

VAT on private school fees is taxing the rich. Inheritance tax on rich farmers is taxing the rich. Most pensioners getting WFA didn't actually need it. I support a wealth tax as well, but if you thought the screaming over IHT and VAT on schools was bad, just wait for the reaction to that...

misterboote.bsky.social•93 days ago

This is rarely acknowledged but explains the concerted & confected RW media furore. Same for IHT on DC pensions. Wealth taxes imposed elsewhere to date have been ineffective & avoidable

sinurata.bsky.social•93 days ago

Link doesn't work, sadly.

misterboote.bsky.social•90 days ago

looks like I mis copied ;/.or mis pasted:)

blueledge.bsky.social•93 days ago

It's the obvious thing to do but, kier Starmer is no Jeremy Corbyn, who was an honest man.

iainhill.bsky.social•93 days ago

Tax will always hit the poor and the vulnerable. If they tax the corporations the extra costs will only be passed down to us anyway. Heaven forbid that shareholder pay outs be reduced to absorb the impact!
Unthunkable. The peasants won't mind.

andychapman.bsky.social•93 days ago

The biggest problem with a wealth tax is the name. Someone who earns £25k thinks that £200k is huge wealth and so the tax might affect them. People with a £1m house and pension think they are the target. It needs to be called something else. Suggestions welcome.

mikehinford.bsky.social•93 days ago

Too much wealth tax?

So can be branded as 2muchwealth!

andychapman.bsky.social•93 days ago

All my ideas suffered from dangling adjectives - huge wealth tax, extraordinary wealth tax etc. - which made it sound like a big tax on wealth rather than a tax on big wealth

finnis.bsky.social•83 days ago

You know the answer Caroline 😔

stevebasnett.bsky.social•83 days ago

Little did I realise 10 days ago when I commented on this post of yours, Caroline @carolinelucas.bsky.social, that you would be supporting something I was working on at the time. Thank you for your support on Save The Observer - it means a lot to me, and all of us. Huge respect & admiration for you.

stevebasnett.bsky.social•93 days ago

Well said, Caroline. I agree with you, as pretty much always on everything.

ldw1.bsky.social•93 days ago

I’d settle for a tax on things that only the obscenely wealthy could afford: private jets, property deals, supercars.
Like we had before:
https://en.wikipedia.org/wiki/Purchase_Tax

selzero.bsky.social•93 days ago

Yes please.

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