Should billionaires and multinationals pay fair tax?

aveatry said:
Yes in your world but do you trust that a Government would not take the opportunity of raising more from everyone. Why do you think a government would not do so.
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Now you're just making things up. It does not show that Council Tax is better than LVT, and it does not show that hoarded, unused land should be given an easy ride.
 
aveatry said:
It was aimed at carmanmemoranda who has not responded to it

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Didn't see it was for me.

Nothing wrong with rising values, as long as affordability/incomes goes up with it too. It's wrong as it is now.

Otherwise it just becomes the wealthy owning property and the rich/poor divide gets worse.
 
Mottie said:
Yeah, fairer to him. Perhaps he could give up his tax free allowances if he's that concerned.
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You don't think the tax system is loaded?

Who do you think benefits the most from all the rules and loopholes?

Do you know who help set the rules, on Government instructions?
 
aveatry said:
What's wrong with people buying a house and then it rising massively in value. What have you got against that.
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what happens is that property then becomes an asset

and what happens to rising assets: they get bought by the wealthy and eventually you get the poor unable to buy houses and get trapped in rent

the result is that wages from the poor get transferred into assets for the wealthy

I am very lucky I own my own house with no mortgage and live in a wealthy area on the Surrey / Sussex border, So Im part of the problem, although I dont own other properties


"There had been a “substantial fall” in home ownership among young adults since 1997. The IFS said 35% of 25- to 34-year-olds in 2017 were homeowners, a decrease from 55% in 1997. The IFS noted that the biggest fall had been seen among middle-income young adults"

 
Notch7 said:
what happens is that property then becomes an asset

and what happens to rising assets: they get bought by the wealthy and eventually you get the poor unable to buy houses and get trapped in rent

the result is that wages from the poor get transferred into assets for the wealthy

I am very lucky I own my own house with no mortgage and live in a wealthy area on the Surrey / Sussex border, So Im part of the problem, although I dont own other properties


"There had been a “substantial fall” in home ownership among young adults since 1997. The IFS said 35% of 25- to 34-year-olds in 2017 were homeowners, a decrease from 55% in 1997. The IFS noted that the biggest fall had been seen among middle-income young adults"

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You are not part of the problem.

The issue is that there has been a massive intergenerational wealth transfer from the young to the old via rents.

Homes have increased in value but they essentially have not become more productive assets. We have rewarded asset price inflation at the expense of productivity.

Having a renty economy is a drag on growth and raises inequality which effects the GDP.
 
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