Should millionaires pay the same % of tax as middle income taxpayers?

[basilio]

Turkeys voting for Thanksgiving ??

Millionaires call on governments worldwide to ‘tax us now’ ​

Group of 102 wealthy people say tax would help tackle gulf between rich and poor

Gemma McGough, a British entrepreneur and founding member of Patriotic Millionaires UK. Photograph: PA

Rupert Neate Wealth correspondent

@RupertNeate
Wed 19 Jan 2022 11.01 AEDT
Last modified on Wed 19 Jan 2022 16.11 AEDT



More than 100 members of the global super-rich called on Wednesday for governments around the world to “tax us now” to help pay for the pandemic response and tackle the gulf between rich and poor.
The group of 102 millionaires and billionaires, including Disney heiress Abigail Disney, said the current tax system is rigged in their favour and needs to be rewritten to make taxation fairer for hard-working people and restore trust in politics.

“As millionaires, we know that the current tax system is not fair,” they said in an open letter published on Wednesday. “Most of us can say that, while the world has gone through an immense amount of suffering in the last two years, we have actually seen our wealth rise during the pandemic – yet few if any of us can honestly say that we pay our fair share in taxes.”

The super-rich signatories, who brand themselves as “patriotic millionaires”, called for the introduction of “permanent wealth taxes on the richest to help reduce extreme inequality and raise revenue for sustained, long-term increases in public services like healthcare”.
“Restoring trust requires taxing the rich,” they said in the letter, published as world leaders and business executives meet for a virtual Davos World Economic Forum. “The world – every country in it – must demand the rich pay their fair share. Tax us, the rich, and tax us now.”

Millionaires call on governments worldwide to ‘tax us now’

Group of 102 wealthy people say tax would help tackle gulf between rich and poor

www.theguardian.com

 

[SirRumpole]

Turkeys voting for Thanksgiving ??

Millionaires call on governments worldwide to ‘tax us now’ ​

Group of 102 wealthy people say tax would help tackle gulf between rich and poor
View attachment 136108
Gemma McGough, a British entrepreneur and founding member of Patriotic Millionaires UK. Photograph: PA

Rupert Neate Wealth correspondent

@RupertNeate
Wed 19 Jan 2022 11.01 AEDT
Last modified on Wed 19 Jan 2022 16.11 AEDT



More than 100 members of the global super-rich called on Wednesday for governments around the world to “tax us now” to help pay for the pandemic response and tackle the gulf between rich and poor.
The group of 102 millionaires and billionaires, including Disney heiress Abigail Disney, said the current tax system is rigged in their favour and needs to be rewritten to make taxation fairer for hard-working people and restore trust in politics.

“As millionaires, we know that the current tax system is not fair,” they said in an open letter published on Wednesday. “Most of us can say that, while the world has gone through an immense amount of suffering in the last two years, we have actually seen our wealth rise during the pandemic – yet few if any of us can honestly say that we pay our fair share in taxes.”

The super-rich signatories, who brand themselves as “patriotic millionaires”, called for the introduction of “permanent wealth taxes on the richest to help reduce extreme inequality and raise revenue for sustained, long-term increases in public services like healthcare”.
“Restoring trust requires taxing the rich,” they said in the letter, published as world leaders and business executives meet for a virtual Davos World Economic Forum. “The world – every country in it – must demand the rich pay their fair share. Tax us, the rich, and tax us now.”

Millionaires call on governments worldwide to ‘tax us now’

Group of 102 wealthy people say tax would help tackle gulf between rich and poor

www.theguardian.com

One thing is for sure, you can't get money out of people who don't have it in the first place.

A tax on the rich seems to be the best way of paying off government debt, but it will take a lot of international cooperation as its only going to take a few tax havens to break ranks and there will be a lot of money flowing out of the rest of the nations.

 

[moXJO]

Why not just give your money to the government if you want to be taxed so bad?

 

[macca]

Why not just give your money to the government if you want to be taxed so bad?

Plenty of worthy charities will accept it as well

 

[basilio]

Why not just give your money to the government if you want to be taxed so bad?

Indeed! In fact most billionaires operate on a "Tax me if you can" basis anyway. Whats the point of having Tax havens, pollies in your pocket and legions of bent accountants if you can't squirrel away your hard won billions ?

I suggest the call by the Patriotic Rich for fairer taxation on the obscenely wealthy was a direct dig at the current tax systems. If in fact billionaires of this world pulled their weight tax wise collectively there would be the resources to tackle the problems that are raised in their open letter. But that can only happen if all the xuckers rather than the "Patriotic" few are brought to account.

 

[wayneL]

Ain't gonna happen @basilio.

They will always go for the easy target, i.e. the middle class.

This is why I western economies are doomed to descend into economic fascism, whether by accident or design.

One can join the dots to where that eventually leads... And we are pretty damn close to it now.

 

[Humid]

 

[SirRumpole]

Ain't gonna happen @basilio.

They will always go for the easy target, i.e. the middle class.

This is why I western economies are doomed to descend into economic fascism, whether by accident or design.

One can join the dots to where that eventually leads... And we are pretty damn close to it now.

Yes. Governments are either in bed with or scared stiff of people like Gina, Twiggy, Clive & co that they will never be touched except as a facade and diversion for tax increases elsewhere ("we must all play our part " etc).

 

[wayneL]

View attachment 136179

This principle pretty much applies to a whole host of issues.... As Pfizer well knows.

 

[moXJO]

Indeed! In fact most billionaires operate on a "Tax me if you can" basis anyway. Whats the point of having Tax havens, pollies in your pocket and legions of bent accountants if you can't squirrel away your hard won billions ?

I suggest the call by the Patriotic Rich for fairer taxation on the obscenely wealthy was a direct dig at the current tax systems. If in fact billionaires of this world pulled their weight tax wise collectively there would be the resources to tackle the problems that are raised in their open letter. But that can only happen if all the xuckers rather than the "Patriotic" few are brought to account.

A lot of new taxes simply get slugged to middle class. Billionaires simply move to better tax havens.

Not saying they shouldn't be taxed. Just make sure it hits the mark. Didn't France try something?

As for donations they start a lot of charities and donate to themselves or something like that.

 

[Humid]

Yeah start your own charity get the tax advantage by donating and control where the money goes

 

[SirRumpole]

Yeah start your own charity get the tax advantage by donating and control where the money goes

A few sportsmen might have got in on that dodge.

 

[Knobby22]

A lot of new taxes simply get slugged to middle class. Billionaires simply move to better tax havens.

Not saying they shouldn't be taxed. Just make sure it hits the mark. Didn't France try something?

As for donations they start a lot of charities and donate to themselves or something like that.

Steve Vizard got caught on that.

 

[moXJO]

Yeah start your own charity get the tax advantage by donating and control where the money goes

A lot of people do it. Then pay themselves $250k a year wage out of it. Then sprout how saint like they are.

 

[macca]

A few sportsmen might have got in on that dodge.

Some put money in charity to buy vaccines, buy shares in Pharma Co, announce usage of vaccine.................................

 

[The Triangle]

Meanwhile their private jets and yachts keep getting tax exemptions, pollution exemptions, carbon exemptions.... they don't complain about that do they? Over here there should be another 2 tax brackets. Put one in around the 750k at 50 cents on the dollar, put one in at about 5 million at around 55 cents. It's not unreasonable enough that the wealthy would flee the country,

A wealth tax is one of the most awful ideas in human thinking. It would never pass, these millionaires know it. Funny how they never actually present a workable solution in these MSM sponsored puff pieces. Start with eliminating trusts.

On a side note I recon if they made people choose between reading 5 guardian articles or getting vaccinated that we'd have 100% vaccination rates.

 

[moXJO]

We did have something from Joe hockey (can barely remember one single detail or result)
Something about taxing large firms so the profits paid in Australia were taxed. No idea if it was bs or not.

 

[Investoradam]

Yes. Governments are either in bed with or scared stiff of people like Gina, Twiggy, Clive & co that they will never be touched except as a facade and diversion for tax increases elsewhere ("we must all play our part " etc).

Gina Rinehart 'pays more tax than any other Australian'

Iron ore magnate Gina Rinehart says she is now Australia's single-biggest taxpayer after her private company reported a big jump in annual profit to $1.37 billion.

www.afr.com

thinking like the leftist there! zero understanding of economics or taxation, just repeat what the idiot leftist MPS and leftist rag pieces produce!
why only target those mining giants?...i mean they invest billions in infrastructure, equipment and have lots to depreciate like every busiuness can do, but just more of it

why not target other compenies, those software & tech companies? who have not much more than some servers, building space and computers to depreciate

 

[SirRumpole]

Gina Rinehart 'pays more tax than any other Australian'

Iron ore magnate Gina Rinehart says she is now Australia's single-biggest taxpayer after her private company reported a big jump in annual profit to $1.37 billion.

www.afr.com

thinking like the leftist there! zero understanding of economics or taxation, just repeat what the idiot leftist MPS and leftist rag pieces produce!
why only target those mining giants?...i mean they invest billions in infrastructure, equipment and have lots to depreciate like every busiuness can do, but just more of it

why not target other compenies, those software & tech companies? who have not much more than some servers, building space and computers to depreciate

Sure tax em all ! None of those filthy rich companies deserve anything they earn ! Facists !

 

[Investoradam]

Sure tax em all ! None of those filthy rich companies deserve anything they earn ! Facists !

muppet