Wealthiest 3,000 working on ‘edge of legality’ using shell companies to funnel dividends and own property to avoid income tax, says study
    • sixCats@lemmy.dbzer0.comEnglish
      5·
      1 year ago

      I think that’s crazy

      I also think that’s crazy. In the UK we pay stamp duty, a one time tax when you buy property. It’s much more if it isn’t your primary residence

      • JoBo@feddit.ukEnglish
        4·
        1 year ago

        You pay council tax. It is a different way of collecting the same tax.

        • sixCats@lemmy.dbzer0.comEnglish
          1·
          1 year ago

          Council tax doesn’t pay for any of the things that property taxes do. The USA also has separate taxes for bin collection etc

          • JoBo@feddit.ukEnglish
            3·
            1 year ago

            You’re paying for local services and the amount you pay is based on the value of your home. HTH

            • sixCats@lemmy.dbzer0.comEnglish
              1·
              1 year ago

              Yea but notably property taxes pay for schools in the USA, council tax pays for roads, lights, bins etc

              In the UK you don’t get to go to a better school just because your house costs more money

    • cerothem@lemmy.caEnglish
      2·
      1 year ago

      You pay property tax because of the services that are provided to you by the municipality. Garbage collection, streets, parks, schools, libraries, public services, social programs, public events, etc.

      While I understand the idea your going for here the intent of those taxes aren’t the same and the businesses that they are interested in would pay some form of tax (probably?).

      I think something like a gross wealth tax, 10% of all wealth a year over over something like the poverty line * 100 in total assets

  • uphillbothways@kbin.social
    101·
    1 year ago

    The people that benefit the most from society should pay for it. Also, people living off the income from actual work are already paying a tax to the wealthy, that’s where their wealth comes from.

    Income tax is double taxation to both the wealthy/corporations, in their profits, and to the government.

  • RememberTheApollo_@lemmy.worldEnglish
    4·
    1 year ago

    Let me offer this as well - it’s not just about taxing wealth. By taxing that wealth you also reduce their influence. If everyone taxes them they can’t play their games of threatening to run away with their money to elsewhere.

  • rebul@kbin.social
    122·
    1 year ago

    Somehow, some way, we have got to forcibly take money from one group and give it to another. Because that will solve all problems, it’s easy! Why can’t everyone see that?

    • money_loo@lemmy.worldEnglish
      10·
      1 year ago

      I don’t remember the numbers precisely, but something like 20 billionaires own $15 trillion of the world’s wealth, so yeah probably would help quite a bit.

    • swiftcasty@kbin.social
      71·
      1 year ago

      If the billionaires want to keep playing, someone has to restock the claw machine.

      The ethics of taking money away from billionaires aside, you statistically will never be a billionaire AND you stand to gain from closure of the wealth gap. Why the facetious attitude? Do you not want more money and a higher standard of living?