I might pop into the fishing thread and make a snarky comment at people talking about fishing.
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Just so I understand, has Rishi Sunak ever claimed non-domicile status? Or was it just his wife? I wouldn’t think he could be a sitting MP if he was claiming non-domicile status in the UK. After all, although its very specifically about tax affairs, your domicile really is about identifying what nationality you are, when things like the tax residency test doesn’t provide a clear outcome.
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I’ve just had a scout around and I’m probably getting confused with him holding a Green Card, and thus declaring his intention to remain a US citizen, even though he was Chancellor of the Exchequer.
On the tax stuff, the reveal that he only paid 22% on his income last year is properly staggering. The Prime Minister salary is about 164k a year, and he will have definitely paid 40% on the majority of that. So for the rest of his considerable income (most of it capital gains on investments), he is paying much less than 20%.
The problem is that we balance tax unfairly. High tax on income, but barely anything on wealth. Income from investments, property, and wealth should be taxed much, much higher.
This is something Labour seem to be moving towards.
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Terrible if you are someone who relies on the NHS. Brilliant news if you are a profiteering Tory scumbag.
PMQs between the deputies. Should be fun. Live on 5 Live.
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She’s already a billion times more engaging than Starmer.
Should be me asking that question, not the second coming of Baldrick. Lexit……
To be clear, I am not against PR in one form or another - FPTP has clear flaws of its own. Just observing that true PR has a known property that leads to certain cleavages not being effectively represented.
As for the direction of UK policy and spending, I don’t think Conservative spending follows quite that London logic, precisely because they don’t mind seeing Labour ‘waste’ votes in urban London if they can outcompete them in the broader South.
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Boris Johnson would never allow this.
Mhairi Black :0)
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why?
as a fundamental question.
company tax should be lower than personal tax or you get no incentive for a business to earn and retain money. you should also get tax breaks for losses if you pay tax on profits.
he’s talking about personal wealth.
far too many wealthy are able to bury their riches in tax loopsholes/havens and not have to pay nearly as much tax in proportion to a middle-income family
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how is their wealth structured?
again though. why?
whats the theory on paying more tax on wealth creation vehicles?
its all a bit of a smokescreen anyway…your rich PM maybe only paid X amount on his personal income and (probably franked) dividends…but how much tax and associated costs did the investment vehicle pay?
we always need to be careful to have a full view of the picture before we cast stones.
simply by saying ‘he only paid 22k tax, ergo hes a cunt and the system is broken’ with such conviction, just seems very basic.
im not saying theres no loopholes to be closed, or there’s nothing that needs to be addressed…but the problem is, for every action there is a reaction.
this does fly very close to trickle down economics so im trying to be careful…but yes, there is merit in financially encouraging business and investment profitability.
to me the biggest tackle to be made, is against the backhanders, the contracts handed out to preffered firms, buearatic decisions from infrastructue companies with monopolies that cost the end user.
if the answer is just ‘raise company and capital gains tax’, im afraid, the very top end, will just raise the level of thier bungs and inside dealings.
Rishi probably doesnt give a stuff if his ABC company widget making company pays 25% company tax on its profits…he just wants ‘x’ amount at the end of it…force him to raise company tax, he’ll just raise the contract for his widgets… force a small investor to pay more tax on his property portfolio…no dramas…up goes the rent.
and all of this shit is exactly why the tax system (like many other goverment institutions) are broken. Loopholes left/right/center for those who are able to dodge paying taxes.
I paid more taxes than he did last year. what’s his number, about 13-14%? what’s it SUPPOSED to be for the £164,000/yr tax bracket before deductions
why is the country broke? no money for low-income families? no money for healthcare?
so just one person was able to dodge £31,000 in taxes. multiply that number by 100,000 people who are able to do the same, that’s £3,100,000,000 out of the tax coffers.
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Yes, but everyone blames the benefits scroungers.
Tax fraud costs the exchequer approximately ten times as much as benefit fraud, yet the government spends three times as much chasing perpetrators of the latter.
Shows where its priorities lie.
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That’s mind-blowing, do you have any sources on that?
protecting their own interests.
I think it’s been covered, but I’m not talking about business tax. I’m talking the money you get by just having loads of money. Land, property, investments. Capital gains and dividends.
These need taxing. It isn’t fair that labour is massively taxed, but idle financial speculation gets of relatively Scot free.
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