My gut instinct is frankly āfuck allā
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lol but in actual reality ??? ā¦I dont know , maybe they all turn into narcissistic bar stewards when they get to Ā£99,999,999
I think it maybe happened a bit before that?
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nasty rich bar stewards 
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Well I know I would certainly be moving the money out of the UK if it was me! That will never work.
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I suspect that quite a few millionaires already have.
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Well kind of my point, donāt provide incentive for more to do so 
Switzerland has a wealth tax. Has everyone moved their money out of Switzerland? not exactly
(wealth taxes obviously do not just tax wealth held in the country collecting the tax by the way, that would indeed be not very sensible)
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No. But Iām willing to bet that a lot do. Kind of my point. They money needs to be in the country to be taxable. Keep it in the country by closing loopholes then charge higher rates of income tax. Then close other tax loopholes too. But without upsetting the people who would have to pay more tax. Who also happen to be political donors. See the problem? Point is, there is no easy solution.
I own my own business. It, and myself, pay as little tax as possible - however I will stress that I donāt avoid tax, I donāt hold or move money abroad nor do I do anything dodgy or expense anything which is not legitimate. I pay what is due. But if loopholes were closed I would pay more. Here is an extremely simple one - I pay myself a tiny salary, and live off dividends instead. They are taxed at a lower rate than salary. Multiply that by 5m+ SME in the UK and you start to see the scale of the loophole. Then multiply it by large industry directors instead of SME.
As much as I usually disagree with @anon95680666 I have to agree with one thing. The super rich (which Iām not defining with a Ā£ figure), usually, contribute huge about of productivity, jobs and tax already.
Inheritance tax is an interesting one, I would fully support raising that (after adding bandings) very high to something like 95% on estates over Ā£10m
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I donāt get this thinking.
The wealthy donāt contribute jobs out of goodwill. Theyāre not running charities and handing out wages for free.
Theyāre investing their money to get a reasonable rate of return, and part of that goes towards employing people to make that possible.
Theyāre not doing anyone a favour.
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It doesnāt though. Wealth tax is generally applied to worldwide assess and thatās what Iām referring to.
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A lot of people will say theyāll move to avoid tax. But the cost (not just monetary) of moving puts people off following through.
The USA saw massive growth in the 50s. The highest tax rate was just over 90%. Didnāt stop growth or put people off making money, did it?
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Iām not entirely sure what āthis thinkingā you are talking about. I made no comment on motive, method or favours. Maybe you could explain before simply dismissing my āthinkingā?
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Two months of my net salary!
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More than double my monthly income 
I donāt use the average amount that all these numbers are based on though, so I am not worried tbh.
Many others, however, will be 
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Well, now Iām pining for those fixed deal offers I balked at a few months ago.
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Over Ā£6k!!!
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That April prediction was Ā£5k at just the beginning of last week. Now itās over Ā£6.5k.
Itās terrifying, and also ridiculous because itās now past the point where affluent households wonāt be able to afford it.
And still our non-functioning government will do nothing. The Conservatives are going to be annihilated at the next General Election, just like in 1997.
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Heinz workers have secured an 11% pay rise.
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