Labour, Labour is falling apart, again.
2 years ago
2K
I don’t understand why he’s so reluctant to support some sort of wealth tax to bring in the funds they need. Oxfam report this week talks of 50 UK families having more wealth than bottom 50% of population. That’s disgusting, IMHO. Wealth tax and a real attempt to reduce the inequality that’s run rampant in last few years would be popular with most of the electorate.
He could try and restructure the economy so that it's not constantly giving all our cash to Google and Amazon so that eventually all we'll be left bringing money in is Premier League Football and Only Fans.
You think you've got problems!
The Fascists win!
Chicago: Stocking up.
Over recent years parties of all colours are at odds with each other. The Tories tearing themselves apart over the EU has got us in the mess, Labour’s ‘broad church’ really doesn’t help when they try anything that might upset the far left of their party and Reform can currently hold a meeting a phone box but can’t seem to stand each other. It seems gone are the days when the sitting MP would do as they were told. Only the other day a Tory MP stood up to back Starmer after Badenoch had made a tit of herself again.
Did you see what they are objecting to? They are trying to stop a nominal Labour party being Tories.
The welfare state needs reform.
Granted it’s not the Labour Party than will be allowed to do it but in lots of cases it really makes no sense to work.
It would be easier to swallow if introduced alongside a more progressive tax system or a host of other potential measures to get some more money back out of the top few percent.
Progressive tax translates as tax someone else but not me?
Progressive tax means making people who can afford to pay more pay more. The impact on lifestyle is negligible on the wealthy.
As an example, how about we have a £500,000 tax band of 47%, and a £1,000,000 tax band of 50%?
Because once you start getting into that strata you don't actually receive that kind of salary anyway. There's an entire industry built around ensuring the wealthy don't have to worry about peasant things like tax bands, you can make it 90% over $1M and it won't have any impact. Tax avoidance is entirely legal and the product of overly complex and arcane legislation; if you wait a few hours I'm sure noodle will be along to explain exactly why these complex taxation regimes exist to ensure that the wealthy can avoid paying, and that simplification and consistent enforcement are actually far more important than bands and rates.
That of course assumes that politicians have the appetite to do it, but when you're electing multimillionaires like Sunak and Starmer it seems unlikely that anything will change in any material form.
Russ is right, which is why we should be taxing things other than income.
I work with quite a lot of folks who earn more than $1m and they all pay income tax on it at (UK) 45%÷2% NI.
If you could tell me more about the schemes to avoid paying that I'm sure they'd be interested.
Fine. Let's do that then. Instead of reducing benefits for the people who are already in the gutter / disabled to try and balance the books.
