Who do you count as rich? How would you set a wealth tax?

I think I paid £85k in tax last year and feel like that is quite a lot.

I'm now set up in a company where I'm very likely to pay a lot less this year (might also do more good things depending on your views).

I do think we undertax property but the idea people could wear 2% of value seems very unlikely. Could maybe do 0.75% to replace council tax and sdlt or maybe even higher to replace other taxes but it won't provide the money the black hole of the NHS requires, let alone a whole load of other public services.

Posted By: Kangol Canary on June 28th 2025 at 14:31:15

Message Thread

NBTTT: The impossibility of taxing the rich (General Chat) - Under soil heating, Jun 28, 12:06:21
- I’m a raging capitalist, from the poorest (but loving) background you could imagine. (General Chat) - BINMEN8R, Jun 28, 17:24:52
  - Most rich people have wealthy parents and families. Not all of course but most (n/m) (General Chat) - footymadman, Jun 28, 20:37:22
  - Sorry, but that’s bullshit. (General Chat) - Snakepit Divorcee, Jun 28, 19:06:51
    - A lot of these "hard working people" .... (General Chat) - usacanary, Jun 28, 21:43:34
      - Read my post again. (General Chat) - Snakepit Divorcee, Jun 28, 23:22:12
  - I agree with that. Hard work and success shouldn't be punished. (n/m) (General Chat) - shoddy, Jun 28, 18:17:02
  - Yep, same here. (n/m) (General Chat) - usacanary, Jun 28, 17:56:06
    - I've known a few multi millionaires over the years (General Chat) - Men without hats, Jun 28, 18:06:20
- The problem with your friend Arun Advani (General Chat) - JoeyDeacon, Jun 28, 14:40:10
  - Any argument can won with this method (General Chat) - Lentil Weaver, Jun 28, 15:55:07
    - The entire Wrath is often a left wing echo chamber (n/m) (General Chat) - JoeyDeacon, Jun 28, 16:03:25
      - Hahahahahahahahahahaha (n/m) (General Chat) - jamesward, Jun 28, 17:25:21
      - You are joking? (General Chat) - Snakepit Divorcee, Jun 28, 17:01:02
  - Great to see how open minded you are JD. (General Chat) - Under soil heating, Jun 28, 15:05:18
    - I will engage with you - and I don’t wish to come across as argumentative (General Chat) - JoeyDeacon, Jun 28, 15:24:39
      - Oh, and to answer your question on what I do (General Chat) - Under soil heating, Jun 28, 16:28:36
        
        I guessed it was finance related (General Chat) - JoeyDeacon, Jun 28, 16:33:53
        
        Understood, and totally respected! (n/m) (General Chat) - Under soil heating, Jun 28, 16:37:22
      - Thanks for the civil tone - I appreciate it. (General Chat) - Under soil heating, Jun 28, 16:22:20
        
        I think as human beings we always attach ourselves to views that mirror our own (General Chat) - JoeyDeacon, Jun 28, 16:43:11
        
        As a CS I'd just like to say re: pensions (General Chat) - Cardiff Canary, Jun 28, 17:22:36
        
        I have both a private pension and a civil service final salary. (General Chat) - Men without hats, Jun 28, 18:24:04
        
        Well I didnt think I'd ever find myself saying this, but... (General Chat) - Under soil heating, Jun 28, 16:50:37
        
        Enjoyed it - thank you too (n/m) (General Chat) - JoeyDeacon, Jun 28, 16:56:13
  - thats embarrassing (n/m) (General Chat) - ghostof barry butler, Jun 28, 14:54:17
    - It is, but not for the reasons you think. (n/m) (General Chat) - Under soil heating, Jun 28, 15:05:41
- Who do you count as rich? How would you set a wealth tax? (General Chat) - Kangol Canary, Jun 28, 14:31:15
- I do agree I think the leaving bit may be overblown but .. (General Chat) - usacanary, Jun 28, 14:28:05
  - Would you start a business in a country with a wealth tax? (n/m) (General Chat) - paulg, Jun 28, 16:07:51
  - It’s strange that the target of certain people’s resentment is rich people (General Chat) - JoeyDeacon, Jun 28, 14:44:36
    - Everyone needs to ask whether they're contributing (General Chat) - paulg, Jun 28, 16:08:55
      - Years ago there was a stigma in being a non contributor (n/m) (General Chat) - JoeyDeacon, Jun 28, 16:17:30
        
        There was a time (General Chat) - paulg, Jun 28, 16:23:50
        
        Before Thatcher destroyed our manufacturing industry (n/m) (General Chat) - jamesward, Jun 28, 16:52:17
        
        Shame there are so few jobs opportunities available nowadays (n/m) (General Chat) - paulg, Jun 28, 18:07:52
  - Good questions (General Chat) - Under soil heating, Jun 28, 14:41:29
    - There are many companies out there .. (General Chat) - usacanary, Jun 28, 17:03:26
- “The Great Millionaire Migration (That Mostly Didn't Happen)” (General Chat) - Tombs, Jun 28, 13:19:23
  - THIS (General Chat) - Kev, Jun 28, 15:25:21
  - The post I should have written (n/m) (General Chat) - Under soil heating, Jun 28, 14:03:09
  - So this defo won't presumably (General Chat) - paulg, Jun 28, 13:27:46
    - Not sure that link worked... (General Chat) - paulg, Jun 28, 13:33:18
- Are there any examples of it having been used successfully? (n/m) (General Chat) - paulg, Jun 28, 13:03:32
  - Many (General Chat) - SenatusAcademicus, Jun 28, 13:28:37
    - Higher tax or wealth tax? (n/m) (General Chat) - paulg, Jun 28, 13:31:28
      - USA post war was income (n/m) (General Chat) - Legacy Fan, Jun 28, 14:13:43
        
        Income tax. 91% too bracket 😳. (n/m) (General Chat) - Legacy Fan, Jun 28, 14:14:11
        
        Post war countries are very different (General Chat) - paulg, Jun 28, 16:06:27
- The Invisible Doctrine by George Monibot is also worth reading on the topic as a whole. (General Chat) - SenatusAcademicus, Jun 28, 12:28:53
- Too many words (General Chat) - Augustus Pablo, Jun 28, 12:15:33

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