Should millionaires pay more tax? Feat. Jemma Forte & Christian Calgie | Storm Huntley

[@vikingfrog7204]

Yes they should. Billionaires for a start should be illegal

[@LazyGoose872]

Good to know you're an authoritarian

[@vikingfrog7204]

@LazyGoose872 if that makes me one then yes 100% I'd have all billionaires stripped of assets bar a couple of million and it would go to the treasury of whatever nationality they are.

[@LazyGoose872]

@vikingfrog7204 wow, so you're also a state-centric fascist... Forceful removal of private property. which governments did in the past I wonder...?

[@vikingfrog7204]

@LazyGoose872 doesn't bother me, I'm not talking hurting anyone but nobody should be allowed to amass wealth. Society in general around the world has failed when some can't afford to even eat and others have more money than they'll ever be able to spend or hold as it's numbers on a screen that they can't physically hold as there's not enough free cash in circulation. It's a nonsense and a disease on mankind. Greed will always be a disease to humanity. Nothing is ever enough.

[@chiragshetty4608]

No wonder why UK's economy is sinking.

[@colinhitchman2495]

What we actually need is a proper debate on TV (so people can understand) about wealth inequality, what the ultimate outcome of going further down this path is, and how to avoid the inevitable decline in living standards and the chaos/backlash of revolution that would bring. Surely the super-rich don't want to live in that sort of world, either? 🤔 Instead, let's envisage a better future for all, where everyone can thrive, whilst not destroying the planet with consumerism and infinite growth.

[@JoeMarine]

The problem here is we are conflating 100k earner with a 1m earner they are not the same league. Those at 100k should not pay more tax those at a million might be able to pay a bit more those at a billion can pay substantially more.

[@snakebitable]

very true, and a trick often used by those arguing against wealth tax to hide the real issue

[@bobby9791]

Being a millionaire doesn’t mean you’re the best, brightest or greatest. Such a plebeian way of thinking.

[@stevenbob544]

Millionaires can leave the country, but they can't always get rid of their assets. They own property and firms. quite a few or landlords

[@JoeMarine]

They can move assets.

[@snakebitable]

@@JoeMarine not all of them, like our mortgages for example, or airports, or football clubs, some maybe but at some point they need to pay their way just as they expect other to

[@stevenbob544]

@@JoeMarine Yes, I can, but it takes a lot more time. And they also lose profit

[@GregoryVincent-d9u]

We do not need a higher tax rate for billionaires. What we need is for billionaires to pay their staff more money, MUCH MORE MONEY: so that all of their employees enjoy a living wage.

[@TomBartram-b1c]

Yeah they should. Except me if I win the lottery. Or inherit a fortune. Or find a Rembrandt in the attic.

[@Incognito-turnip]

Lol

[@Jamal-Ahmed786]

Billionaires don't make their income through employment, but through Capital gains, so the income tax threshold/rate doesn't apply to them which effectively means billionaires pay less tax than poor people who work

[@Incognito-turnip]

Yes they should. Increase the personal allowance to 15,000 Increase basic rate bracket to £55k Higher rate up to £130 k. Additional rate £130 k up to next bracket Then 46 % on earnings above £250k 47% on earnings above £500k 48% on earnings above £750k 49% on earnings above 1 mill 50% on earnings above 1.5 mill 51 % on earnings above 2 mil And so on up to 55% Reduce some other taxes in return.

[@MR27e]

Wealth tax start from £30M and over. From that, as each interval increases so should the rate. To me, £30M threshold is reasonable and enables people to make millions (up to 30) without worrying about wealth tax. £30M+ is no longer based on just hard work/invention anymore. Taxes (income) should be cut for the working class. Low taxes/ maybe 0% for up 40k. The rich (multi deca/centi millionaires and billionaires) should pay more tax through all types including an introduction of wealth tax.

[@nfisher6502]

In America families pay thousands of dollars a month in medical insurance that doesn’t always pay up when you need it.

[@Holidayhome-spain]

They should have gas and electric payg meters.

[@pjp0007]

Definitely not… should be a flat tax for everyone. Total disincentive for people earning 125k + who are more likely to grow companies, create jobs etc.

[@sharless1]

They should pay there bloody taxes! Instead of investing into tax "hoop-holes!"

[@leftforbed1041]

Where have those millionaires made that money in the first place? If they’ve earned it through business, they will have done so with the support of their taxes employees. If they’ve inherited it, where is the inherent morality in money being passed down generationally? Our ‘best and brightest’ are often on the frontline in medicine or education. Why does we measure the value of people through their worth?

[@TipToe-G]

Seriously what? “Where is the inherent morality of money being passed down generationally”. Erm Simple - it’s their money and so should go to their family and their kids after any inheritance tax. That’s moral. It’s not moral to have the government steal wealth. You think it’s more moral that the state take their earned money and prevent it being inherited to their kids… are you mad?

[@Incognito-turnip]

Jemma forte ❤❤❤

[@barneyrubble8590]

🤮🤮🤮

[@EloiseB2025]

This subject? Again? 😴

[@romanticlizard]

Nearly all wealth is inherited. So the idea that millionaires and billionaires are the brightest in this country is laughable. Who was that bootlicker guy anyway?

[@TipToe-G]

He was someone that clearly understands finance. You must be the guy that doesn’t.

[@snakebitable]

@TipToe-G actually around 60% or wealth in the UK is inherited. There are plenty who are experts on finance who also argue for wealth tax.

[@TipToe-G]

@@snakebitable - plenty of experts who are commie globalists. Doesn’t mean we should follow them. Also… all wealth is inherited by someone or some entity. I have no issue with that. Governments are taking far too much of everyone’s money. Wealth tax is poor people looking at rich people as a buffet cure when reality, the cure is for government to stop taking all our money whether poor or rich and to stop wasting our money.

[@danny3171]

You're a tory but can't get on the.property ladder. Nice one jemma. 😂

[@StevenGoundry]

Thats why america has a far better economy than gb eu

[@Incognito-turnip]

Great economy but terrible way of living . No nhs . Barely any holiday , i could go on but cant be bothered

[@TheLukeLambert]

People in the US die from not being able to afford insulin, shooting each other (even on accident) and a drug epidemic the likes of which are reminiscent of the Opium wars. I think even with our misgivings in society, we're fundamentally stronger as a society for things that we have here that the US would never do. Our long, rich history allows us to learn far more lessons to never repeat.

[@StevenGoundry]

Yeah starmer and all the cronies in wefminster

[@pdempseyful]

No, I think people 35k a year should pay more tax!!!!!!!

[@Incognito-turnip]

This barely makes sense

[@TipToe-G]

Why?

[@pdempseyful]

@@Incognito-turnip It makes no sense because it’s sarcasm…. I’m poking fun at some of typical comments you get on this channel.

[@BLUESKY-zt1nv]

Neil from Lancashire SPOT ON !!

[@Incognito-turnip]

Agree

[@Incognito-turnip]

Totally agree 👍

[@HarleyButler-ox3qn]

Alot of people commenting are annoyed they are not millionaires, very doubtful they would ve saying the same thing is there were

[@snakebitable]

A lot of millionaires if they had to live for a year as someone on benefits not been able to afford heating and food at the same time wouldn't be saying the same thing either. A lot more people are annoyed that they are hard working and yet they still have very little compared to people who don't work harder, yet have so much more and in many cases work hard to keep others down for their own benefit.

[@TipToe-G]

⁠​⁠@@snakebitable- won’t work and never has worked. You have to change the debt based currency creation model of economics employed by the west.

[@keirmitchell5560]

No!!!!

[@sandropaulo4776]

Who are these millionaires that are leaving the UK?

[@leroymcnezz8846]

It's not just millionaires leaving the UK, it's also "high" skilled workers. I personally know a few who have left in the last couple of years and others contemplating. To be honest, I myself I'm also contemplating the move. Here's my issue, I'm fortunate to be where I am at 33 and have been paying the additional rate since 2019/2020 (was above 150k then). Since, I've earned more but with everything significantly more expensive, maintaining my quality of life means I'm actually worse of than I was then, and public services have also worsened. Now if public services were getting better, I could at least feel comfortable that the money is being used appropriately, but that's not the case. So I work an average of 65 hours a week, earn more, pay more tax but have a lower personal quality of life and lower quality of public services, what's the point? Before raising more tax, we should look at how we are spending what we currently have.

[@snakebitable]

@@leroymcnezz8846 not sure quite how you are working that many hours a week (perhaps you get more time off after etc) but you shouldn't be working more than 48 hours a week. To be honest if your having to work that hard then the issue isn't with high earners like you, its with millionaires and wealth. The 2 often get conflated but their not the same. I don't think you should be taxed 45% or be working those hours, but I do think that the super rich should pay more. As for them moving away? Many have their wealth invested such as in mortgages, football clubs, airports or other interests, its often not the case they can simply take these with them. Its a simple argument which while its true for high earners and other lines of work, doesn't make sense for those with investments in the same way. If you also look at China for example they have rules in place where by simply moving away won't get them out of it either, in short if you take money out of China you pay tax on it. That's how it should be, we may lose some but the current system allows to many to take advantage and keep taking out at the expense of the rest of us. If some of them leave then frankly good. Much of the wealth in the country is only in the hands of a certain few anyway.

[@TipToe-G]

Any one of them that is smart should leave if they wish to keep more of their money. The bloke is correct… we are losing more millionaires by some distance than other countries and is widely reported in all financial newspapers. This ain’t new… The Beatles got out of the UK when taxes hit the roof in the damn 60s and 70s.

[@sandropaulo4776]

What a stupid question! Ofcourse they should

[@TipToe-G]

How much more tax? What is the percentage you they should pay and others pay?