Should billionaires and multinationals pay fair tax?

[Justin Passing]

You conveniently forget that those on the lowest income also pay a higher percentage of their income in indirect taxes.

So Tax capital at the same level as income. Each time you think you are defending this you end up providing evidence in support.

Not the sharpest knife. This is mottie levels of analysis.

Do you know an analysis showing the net effect? Food, kids clothes, energy are reduced /zero VAT, so if that's where most of your money goes, not so much is tax.

 

[Justin Passing]

Mate did something similar. Was going to put a house he owned which had just become empty at the agents valuation; tried to be helpful to a couple of local kids so heavily discounted the property for them. They said they wanted to stay in the village and were planning their future around that. Mate also spent money cleaning, decorating and replaced a carpet. He knocked 30% off the agents price.

3 Months later they put the house back on the market above the valuation mates agent had valued it and sold it in days. They have gone to live in a town and he feels cheated and really let down - even more so as the Tax Man is questioning why he sold below market value.

I got grilled on why a rent was too low. Tax man started on about something like a gift in kind which was taxable. I now have an agent setting the rent. He's a mean bstard so they're higher than I would have set.

 

[Justin Passing]

I must have a stripe of Marxist in me.
I am a landlord, yes. But...
Would you say having some buildiing to live in, is a basic human right? In the Uk?
If so, why should I make money out of your basic human right, without actually doing anything? I am taxing your life.

 

[motorbiking]

[/QUOTE]

So the answer to my question was "no."

It’s obvious that the depreciation or appreciation of an asset over time is hugely important to its affordability for anyone who needs to borrow money to buy it.

Every single element of your argument fails.
Wealth tax - going nowhere has only ever damaged economies that do it.
House price inflation - a bad thing. Nonsense, it’s the very mechanism that fuels financing the house and attracting people to build the house. Not to mention increases to the capital value are part of the business model for supplying quality rentals.
Value of a second hand car. Unimportant to its utility - except if it has high depreciation, the cost of ownership for many increases.

Literally clueless

 

[motorbiking]

I got grilled on why a rent was too low. Tax man started on about something like a gift in kind which was taxable. I now have an agent setting the rent. He's a mean bstard so they're higher than I would have set.

Were you renting to someone you knew?

He can f**o** unless he can prove the link.

I rent below market rate and I’ve never had a problem. If HMRC quizzed me I’d tell them given the huge power the tenants have over a landlord, preserving my relationship with my tenant and making sure they don’t trash the place or require costly eviction is hugely more important than a few extra £100 a month.

 

[JohnD]

Literally clueless

You are, but I suspect you are posting your nonsense deliberately.

 

[carmanmemoranda]

I must have a stripe of Marxist in me.
I am a landlord, yes. But...
Would you say having some buildiing to live in, is a basic human right? In the Uk?
If so, why should I make money out of your basic human right, without actually doing anything? I am taxing your life.

The easy answer is there should be council houses (especially at the lower end) and private rentals.

It's not just a binary choice of 1 or the other

 

[JohnD]

You can easily tell the difference.

A house is just as good as a home, no matter if the price goes up, down, or stays unchanged.

Asset price inflation does the country no good, and has set old houseowners against young homebuyers.

The country needs homes.

For information, this was the post that so enraged motorbiking that he's been making false posts bearing no relation to what I said.

He's even gone back and changed what he wrote, as he becomes more demented.

 

[carmanmemoranda]

For information, this was the post that so enraged motorbiking that he's been making false posts bearing no relation to what I said.

He's even gone back and changed what he wrote, as he becomes more demented.

He is often caught out like that

He makes things up and argues against it. It fools a few

 

[noseall]

He's even gone back and changed what he wrote, as he becomes more demented.

Typical MBK. He doesn't half post some unchecked drivel, lies and falsehoods when he's angry.

 

[carmanmemoranda]

It’s obvious that the depreciation or appreciation of an asset over time is hugely important to its affordability for anyone who needs to borrow money to buy it.

Every single element of your argument fails.
Wealth tax - going nowhere has only ever damaged economies that do it.
House price inflation - a bad thing. Nonsense, it’s the very mechanism that fuels financing the house and attracting people to build the house. Not to mention increases to the capital value are part of the business model for supplying quality rentals.
Value of a second hand car. Unimportant to its utility - except if it has high depreciation, the cost of ownership for many increases.

Literally clueless

As long as people can afford to buy.

Where are the comparative ownership figures that support your argument?

 

[diy_fun_uk]

I must have a stripe of Marxist in me.
I am a landlord, yes. But...
Would you say having some buildiing to live in, is a basic human right? In the Uk?
If so, why should I make money out of your basic human right, without actually doing anything? I am taxing your life.

This post makes little sense.

It can be argued food is a basic human right. So by your logic, no food manufacturer and/or retailer should profit from their endeavors?

Many landlords 'do' do something, especially if they don't use management services.

And if landlords worked on a zero profit model, what then happens in times when the property needs refurbed to either a small or significant extent?

And pleeeeeeeease don't come back with 'but you benefit from the property appreciating in value!!!' as has been discussed on here many times, not all property increases in value by thousands upon thousands each year.

 

[JohnD]

It can be argued food is a basic human right. So by your logic, no food manufacturer and/or retailer should profit from their endeavors?

On the contrary.

By his logic, the poor should not be starving to death.

You disagree.

 

[diy_fun_uk]

On the contrary.

By his logic, the poor should not be starving to death.

You disagree.

You need to get yourself an agent and plan your first theatre tour.

Why?

Cause you're evidently a mind reader. A sh1t one, but a mind reader nevertheless.

 

[motorbiking]

Nobody is angry, certainly not me. The ridiculousness of leftinomics is obvious for anyone even with a small brain to see through. JohnD likes to resort to lies when nobody listens to him as an authority just because he subscribes to the FT.