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Old 30.01.2019, 19:25
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Tax avoidance at Davos

Lol, the this was the exact place to raise the issue. https://www.theguardian.com/business...e_iOSApp_Other

Not to mention the irony of turning up to a talk on the environment and global warming in private jets!

Still nothing will probably change!
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Old 30.01.2019, 20:52
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Re: Tax avoidance at Davos

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Lol, the this was the exact place to raise the issue. https://www.theguardian.com/business...e_iOSApp_Other

Not to mention the irony of turning up to a talk on the environment and global warming in private jets!

Still nothing will probably change!
The richest 1% pay far too much, it's time EVERYBODY paid their fair share & stopped scrounging expecting others to pay for them.
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Old 31.01.2019, 09:21
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Re: Tax avoidance at Davos

70% top rate of tax?

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Old 31.01.2019, 10:39
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Re: Tax avoidance at Davos

Back in early 1970s UK, high earners were leaving UK, as reported in Press, those who went and those who chose to stay. One person who stayed reported to earn 1% after deductions.

Gradual changes to 10p in the pound, then vaste improvements.



I believe the highest now in UK for a person is 45% tax, i.e. keep 55%, from £150K
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Old 31.01.2019, 10:55
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Re: Tax avoidance at Davos

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The richest 1% pay far too much, it's time EVERYBODY paid their fair share & stopped scrounging expecting others to pay for them.
The richest 1% hold more wealth then half the population of the planet combined. Surely that is wrong?
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Old 31.01.2019, 13:45
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Re: Tax avoidance at Davos

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The richest 1% hold more wealth then half the population of the planet combined. Surely that is wrong?
It's surely wrong that you probably earn more than $34000 a year, which puts you well within 1% of world top earners.

I suggest you give some of it to me.
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Old 31.01.2019, 13:50
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Re: Tax avoidance at Davos

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The richest 1% pay far too much, it's time EVERYBODY paid their fair share & stopped scrounging expecting others to pay for them.
Isn't the topic about tax avoidance, though?
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Old 31.01.2019, 13:56
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Re: Tax avoidance at Davos

A quick reminder that if you're on maximum benefit for a single person in the UK (£18,200) then that puts you in the top 2.42% richest people in the world.

See here.
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Old 31.01.2019, 14:11
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Re: Tax avoidance at Davos

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Back in early 1970s UK, high earners were leaving UK, as reported in Press, those who went and those who chose to stay. One person who stayed reported to earn 1% after deductions.

Gradual changes to 10p in the pound, then vaste improvements.



I believe the highest now in UK for a person is 45% tax, i.e. keep 55%, from £150K
Not really, they keep
100% of the first 11.85k,
80% of between 11.5K-46.35k,
60% of between 46.35k-150k, and
55% of what they earn over 150k

So actually a lot more.
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Old 31.01.2019, 14:23
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Re: Tax avoidance at Davos

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The richest 1% hold more wealth then half the population of the planet combined. Surely that is wrong?

82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said.



The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country, Study Finds

Currently, the richest 1% hold about 38% of all privately held wealth in the United States. while the bottom 90% held 73.2% of all debt. According to The New York Times, the richest 1 percent in the United States now own more wealth than the bottom 90 percent.
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Old 31.01.2019, 14:26
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Re: Tax avoidance at Davos

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Back in early 1970s UK, high earners were leaving UK, as reported in Press, those who went and those who chose to stay. One person who stayed reported to earn 1% after deductions.

Gradual changes to 10p in the pound, then vaste improvements.

I believe the highest now in UK for a person is 45% tax, i.e. keep 55%, from £150K
not quite, the tax rate in the 70's was 90% then 98% on the profit from investments, so for earning they would have paid the sliding scale as already posted.

https://en.wikipedia.org/wiki/Histor...United_Kingdom


but its a good headline saying you paid 99% tax
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Old 31.01.2019, 14:33
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Re: Tax avoidance at Davos

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The richest 1% hold more wealth then half the population of the planet combined. Surely that is wrong?
You become rich by spending less than you earn & investing the rest. Anyone can do it, some would rather have a new leased car every 2 years & spend everything or more than they earn. It's a personal choice, BTW I never owned a new car.
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Old 31.01.2019, 14:37
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Re: Tax avoidance at Davos

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not quite, the tax rate in the 70's was 90% then 98% on the profit from investments, so for earning they would have paid the sliding scale as already posted.

https://en.wikipedia.org/wiki/Histor...United_Kingdom


but its a good headline saying you paid 99% tax
Max rate in the 70's was 83% (over 20k, 1970), with a further 15% investment income surcharge.

During WW2 99.25% existed, I believe there was also a potential surcharge that made a total of 104%.
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Old 31.01.2019, 14:37
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Re: Tax avoidance at Davos

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A quick reminder that if you're on maximum benefit for a single person in the UK (£18,200) then that puts you in the top 2.42% richest people in the world.

See here.
And who actually receives the maximum unemployment benefit in the UK? I doubt many people, even then that would be a barely living wage in London. Otherwise most people are on Jobseeker’s Allowance or some such, that gives about 80 quid a week, definitely not livable.
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Old 31.01.2019, 14:40
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Re: Tax avoidance at Davos

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Not really, they keep
100% of the first 11.85k,
80% of between 11.5K-46.35k,
60% of between 46.35k-150k, and
55% of what they earn over 150k

So actually a lot more.
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I believe the highest now in UK for a person is 45% tax, i.e. keep 55%, from £150K
Not quite, personal allowance (11.85k) gets withdrawn between 100-150K making a 60% marginal income tax rate on such income.
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Old 31.01.2019, 14:42
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Re: Tax avoidance at Davos

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You become rich by spending less than you earn & investing the rest. Anyone can do it, some would rather have a new leased car every 2 years & spend everything or more than they earn. It's a personal choice, BTW I never owned a new car.
when we are talking about the richest people in the world, not really, they avoid taxes by exploiting loopholes, reinvested wealth means corporate takeovers and shedding jobs for profit ratings. Using politicians and the markets to set prices on commodities, that sort of thing, oh and did I say it, avoiding as much tax as possible. I don’t think they care too much about buying second hand cars!
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Old 31.01.2019, 14:42
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Re: Tax avoidance at Davos

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Not really, they keep
100% of the first 11.85k,
80% of between 11.5K-46.35k,
60% of between 46.35k-150k, and
55% of what they earn over 150k

So actually a lot more.
That’s not the whole story.

There is national insurance on top of that (which is a tax by any other name) at 12% between 8.4k and 46.3k and 2% above that.

The personal allowance also starts to be removed at 100k
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Old 31.01.2019, 14:58
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Re: Tax avoidance at Davos

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It's surely wrong that you probably earn more than $34000 a year, which puts you well within 1% of world top earners.

I suggest you give some of it to me.
You actually need a net worth of 800,000 dollars.
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Old 31.01.2019, 15:04
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Re: Tax avoidance at Davos

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You actually need a net worth of 800,000 dollars.
Not to be a top 1% earner, your confusing with top 1% assets.
A top 1% earner can easily become a top 1% owner of assets over a lifetime, as I said earlier it's a choice what you doe with your money.
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Old 31.01.2019, 15:18
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Re: Tax avoidance at Davos

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A quick reminder that if you're on maximum benefit for a single person in the UK (£18,200) then that puts you in the top 2.42% richest people in the world.

See here.
No, it doesn't. It puts you among the highest paid in the world, not the richest.
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