Cost of living crisis.

[Izzy]

49 minutes ago, Steve_Guppy_Left_Foot said:

Imagine we could tax the 100 richest people in the world properly and all of this would be so much more manageable but for some reason that's an outrageous thing to say? Don't get it. 

 

48 minutes ago, Steve_Guppy_Left_Foot said:

Imagine we could tax the 100 richest people in the world properly and all of this would be so much more manageable but for some reason that's an outrageous thing to say? Don't get it. 

You can say that again 

[Dahnsouff]

1 hour ago, Steve_Guppy_Left_Foot said:

Imagine we could tax the 100 richest people in the world properly and all of this would be so much more manageable but for some reason that's an outrageous thing to say? Don't get it. 

Then a lot of people would not have jobs due to lack of job creation / new business ventures

[Steve_Guppy_Left_Foot]

I don't mean tax them hugely I mean all this offshore nonsense the huge corporations have, isn't it right amazon pays no tax in this country? How's thst acceptable. 

[Smudge]

17 minutes ago, Steve_Guppy_Left_Foot said:

I don't mean tax them hugely I mean all this offshore nonsense the huge corporations have, isn't it right amazon pays no tax in this country? How's thst acceptable. 

US citizens are taxed on any income from wherever they work. So if I was working in the UK I would have to pay the IRS, taxes on those earnings. Since you don't pay taxes twice I would be exempt from paying UK tax. I can only assume there is a similar arrangement with Amazon.

 

On second thoughts, that's way too simplistic. I really don't know.

Edited 17 March 2022 by Smudge

[Dahnsouff]

55 minutes ago, Steve_Guppy_Left_Foot said:

I don't mean tax them hugely I mean all this offshore nonsense the huge corporations have, isn't it right amazon pays no tax in this country? How's thst acceptable. 

Something has to give for sure, precisely how I am not sure. but would be tempted to seriously improve the means testing system, as hiding wealth is a plague.

[enmac]

1 hour ago, Smudge said:

US citizens are taxed on any income from wherever they work. So if I was working in the UK I would have to pay the IRS, taxes on those earnings. Since you don't pay taxes twice I would be exempt from paying UK tax. I can only assume there is a similar arrangement with Amazon.

 

On second thoughts, that's way too simplistic. I really don't know.

I'm sure that you'd pay taxes in both the US and UK. 

US citizens /Green card holders living outside the USA get a significant allowance, however. It used to be roughly $80,000 10 years or so ago. You can probably offset any UK taxes as well. 

This is why the Bodger gave up his US citizenship. Someone rich like him, on good money, would pay a significant amount of cash. 

[enmac]

3 hours ago, Steve_Guppy_Left_Foot said:

Imagine we could tax the 100 richest people in the world properly and all of this would be so much more manageable but for some reason that's an outrageous thing to say? Don't get it. 

How about just taxing the richest 1% in this country? They have on average £3.6 Million in wealth. 

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/totalwealthingreatbritain/april2018tomarch2020#:~:text=The wealth of the richest,over the last 14 years.

[Steve_Guppy_Left_Foot]

What I don't get is if I had 350 billion quid I'd pay my staff 30 quid an hour rather than a tenner like that absolute worm Bezos and make their working conditions more than adequate, not have them urinating in bottles and treating them like slaves. Greed is such a curse. 

[Hollism]

2 hours ago, Smudge said:

US citizens are taxed on any income from wherever they work. So if I was working in the UK I would have to pay the IRS, taxes on those earnings. Since you don't pay taxes twice I would be exempt from paying UK tax. I can only assume there is a similar arrangement with Amazon.

 

On second thoughts, that's way too simplistic. I really don't know.

 

You pay HMRC first and that is deducted from your tax bill to the IRS.

 

Eg- you earn 100k a year in the UK. UK charge you flat 20% and US charges flat 30%. HMRC gets £20k and IRS gets £10k.

[Smudge]

40 minutes ago, Hollism said:

 

You pay HMRC first and that is deducted from your tax bill to the IRS.

 

Eg- you earn 100k a year in the UK. UK charge you flat 20% and US charges flat 30%. HMRC gets £20k and IRS gets £10k.

You may be right but that isn't the way my UK earnings are taxed. I pay nothing to the UK and all is declared to the IRS.

 

Like I implied it's very complicated so I shouldn't have commented.

[blabyboy]

3 minutes ago, Smudge said:

You may be right but that isn't the way my UK earnings are taxed. I pay nothing to the UK and all is declared to the IRS.

 

Like I implied it's very complicated so I shouldn't have commented.

Just spoke with a colleague here who is a US citizen and he pays enough here that he doesn't need to pay the IRS. He did confirm it is a ballache filiing all the paperwork though.

[Hollism]

38 minutes ago, Smudge said:

You may be right but that isn't the way my UK earnings are taxed. I pay nothing to the UK and all is declared to the IRS.

 

Like I implied it's very complicated so I shouldn't have commented.

In which case: likewise

[FoxesDeb]

The way things work for us here is that we pay our tax in the UK, at the source of our income. The Spanish tax rate is higher, so we have to pay the difference due to Spain. As far as I am aware that's the same everywhere that has a double taxation agreement, you don't pay it twice, but you do pay the difference in the country within which you reside. 

[Steve_Guppy_Left_Foot]

1 hour ago, FoxesDeb said:

The way things work for us here is that we pay our tax in the UK, at the source of our income. The Spanish tax rate is higher, so we have to pay the difference due to Spain. As far as I am aware that's the same everywhere that has a double taxation agreement, you don't pay it twice, but you do pay the difference in the country within which you reside. 

Or you're a billionaire and you pay no tax anywhere. 

[FoxesDeb]

4 minutes ago, Steve_Guppy_Left_Foot said:

Or you're a billionaire and you pay no tax anywhere. 

That could well be true, I have no idea, but at the moment I don't care, Up The City, we're still in Europe 

[blabyboy]

1 hour ago, Steve_Guppy_Left_Foot said:

Or you're a billionaire and you pay no tax anywhere. 

I don't think that is strictly true. The only way to avoid paying any tax would to be on the high seas for most of the year.. or perhaps in space. I would expect most billionaires minimise their tax exposure, but cannot eliminate it entirely.

[leicsmac]

3 hours ago, blabyboy said:

I don't think that is strictly true. The only way to avoid paying any tax would to be on the high seas for most of the year.. or perhaps in space. I would expect most billionaires minimise their tax exposure, but cannot eliminate it entirely.

"Minimise" in this case being so small as while not zero, is still pretty much entirely insignificant.

[Jon the Hat]

17 hours ago, Steve_Guppy_Left_Foot said:

I don't mean tax them hugely I mean all this offshore nonsense the huge corporations have, isn't it right amazon pays no tax in this country? How's thst acceptable. 

Amazon pay a **** load of tax in the UK, circa GBP1.5Bn in 2020.  around 1/3 of it direct tax, and 2/3rds VAT.

[Nalis]

18 hours ago, Steve_Guppy_Left_Foot said:

Imagine we could tax the 100 richest people in the world properly and all of this would be so much more manageable but for some reason that's an outrageous thing to say? Don't get it. 

Governments would be scared to do that as they'd remove investment and domicile themselves elsewhere.

 

That top 100 would rather either keep their money or give it their own charities disguised as philanthropy so they know what its going towards rather than paying taxes that go towards everything in society.

[Bellend Sebastian]

Not bought petrol for a week and a half and just seen the price of it when driving past Sainsbury's.

 

Oh boy

[Innovindil]

21 minutes ago, Bellend Sebastian said:

Not bought petrol for a week and a half and just seen the price of it when driving past Sainsbury's.

 

Oh boy

Flipping mad out there ain't it. Filled up on Monday my diesel at 155.9/l and its 172.9/l now. 

[Bellend Sebastian]

1 hour ago, Innovindil said:

Flipping mad out there ain't it. Filled up on Monday my diesel at 155.9/l and its 172.9/l now. 

I thought for a second it was a mistake, before realising of course it's not.

 

I'll be back on my bike soon

[ozleicester]

21 hours ago, Benguin said:

What does properly mean? 50%, 70%, 90%?

 

If it’s 90, the top 100 earners gives you about 250billion a year or £32 a year per person. 
 

you need to tax the top 10% of earners in the world to properly address the global crises, which would include most people on here (net worth of 95k plus) 

 

I don’t think people want that, so there needs to be globalist solutions rather than the age old “tax the rich”  

tax the richest corporations in the world...eg Churches that are richer thank BP and facebook combined and pay not a $

[Innovindil]

2 hours ago, Bellend Sebastian said:

I thought for a second it was a mistake, before realising of course it's not.

 

I'll be back on my bike soon

176.9 now. Up 4p in a day again. 

[Greg2607]

On 17/03/2022 at 12:44, Benguin said:

What does properly mean? 50%, 70%, 90%?

 

If it’s 90, the top 100 earners gives you about 250billion a year or £32 a year per person. 
 

you need to tax the top 10% of earners in the world to properly address the global crises, which would include most people on here (net worth of 95k plus) 

 

I don’t think people want that, so there needs to be globalist solutions rather than the age old “tax the rich”  

i'm relatively confident in saying that most people on here won't have a net worth of over £95k.