The counter argument is that just because it's hard to get a precise figure for people's wealth, doesn't mean we should give up on the whole idea. Even taxing based on a conservative valuation of assets still moves us forwards. The problem we have is one of disparities in wealth between super-rich and the rest of us, and between public assets and private. This creates asset bubbles and increases the running costs of the public sector (which increasingly pays rent to private landlords instead of owning property, for example). Increasing capital gains, inheritance and income taxes are oblique ways to address that problem. Wealth taxes get at the root. I don't think we need to let perfection be the enemy of the good here.

@mandemonKet

11 күн бұрын

Well freaking said man

they managed to "value" 30 million houses quick enough for council tax purposes...

There are auctioneers who value racehorses, works of art etc all day every day; its not difficult to use their knowledge; I'm presuming they already do this when calculating death duties. The vast majority of capital investments are in things with a well established value- that is the main point of them. The Green Party is our only hope for rational policies on taxation and the environment and virtually everything else. Why give the BBC the ammunition they are looking for to undermine them?

@OghamTheBold

27 күн бұрын

To be fair to King Richard I don't think there are enow auctioneers (or accountants or lawyers) only the wealthy can afford to calculate annually future values of unsold assets that are rising in cost to replace - although you are correct in your logic and insurance companies are asked to insure them while many poor do not insure their home or contents against fire floor...

@WarrenPeaceOG

27 күн бұрын

Why not go after the succulent, low hanging fruit, and work your way up? (For context, I vote Green, and will never vote Labour, Tory, or LibDem due to corruption, Neoliberalism and genoc!de)

@Jmcinally94

23 күн бұрын

I think he did a good job of praising the greens massively without avoiding critique purely to favour the party. It's true, wealth is obfuscated deliberately by making these sorts of purchases and basing on something that is already numerically measured (i.e higher levels of income and higher inheritance transfers than most of us will see in our lifetimes) is an easier way of achieving the same goal. You can't genuinely think it's scalable to ask people to individual value all of these assets like you suggested? The cost would be astronomical, that's part of the reason they buy them in the first place, to avoid the tax system.

@WarrenPeaceOG

23 күн бұрын

​@@Jmcinally94 Aye

"How do you value a racehorse, is it worth £50 or £50,000,000?" Well, start by asking how much they insured it for.

Your presentation style is very good. You get your point across clearly and precisely with no unnecessary waffling.👍

Saying it's hard to quantify wealth is understandable, yet DWP sure make a good go of quantifying who they think should/n't receive benefits. Wealthy people usually have accountants and wealth managers, so they likely have a reasonably good picture of their assets, so surely this could provide a basis from which to work for higher taxation? One thing wealthy people are VERY good at is counting (and hoarding) beans, so ought not be too hard to build a picture.

@julianshepherd2038

27 күн бұрын

I know a tax worker who specialises in the wealthy and their accountants are sneeky af. They are good at hiding or disguising wealth.

@andrewgifford7740

27 күн бұрын

@@julianshepherd2038 Indeed, sigh. HMRC and gov agencies should make them more culpable for such tricks. They're happy to scrutinise the little person, and should apply the same to those who can well afford it. I'm sick of long-held excuses and exceptions for the wealthy in UK.

@fredfredrickson5436

27 күн бұрын

The assets of the wealthy are concealed through the use of networks of nested shell companies (that is to say companies and subsidiary companies which are only registered as a vehicles to carry and transact capital) which ping money across national borders all over the world, much like a VPN conceals your IP address by pinging around Internet traffic, and the UK plays a major role in facilitating those transactions through The City and its offshore territories. The scale of these shadowy transactions is staggering, with small office buildings in the US state of Delaware, for example, acting as the host for thousands of shell company headquarters.

@lkyuvsad

27 күн бұрын

​@@julianshepherd2038 this is true, but it doesn't need to be a perfect system to do some good. HMRC are going to need more resource for sure. In the US, studies have measured a $5-9 return in additional tax revenue for each $1 spent on funding the IRS. This is annoying, because in a way that $1 is not useful economic activity- we haven't directly created any new value, we've just moved money from private to public purse. It would be better if the wealthy just paid up and we didn't have to spend the extra money getting them to do that. On the other hand, having so much wealth tied up by the super-wealthy is funding asset bubbles and insufficient funding for public sector work is creating huge systemic problems which have a knock on effect on the health of the economy. So probably well worth the cost.

@WarrenPeaceOG

27 күн бұрын

@@andrewgifford7740 They write the tax laws!😹 (Pro Bono. To save the nation money, of course)

From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family

@Melbn-di6mi

26 күн бұрын

I agree just reached my goal of $100k monthly trade earnings. Setting realistic goals is an essential part of trading

@josehenry7205

26 күн бұрын

How does this trading stuff work? I'm really interested but I just don't know how it go about it. I heard people really make it huge trading..

@AIIG-zd5dx

26 күн бұрын

Get yourself someone like Stacey Macken who understands the market very well and is also a professional in placing trades. That's the key

@robertgreg6009

26 күн бұрын

I made a lot from last week, a vision of the effective signals alone assured me of the turnovers. all thanks to Stacey Macken .

@HLO-iy2bp

26 күн бұрын

Stacey's understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her signals are top notch .

It always seemed to me that putting up wages is a better way to address inequality. Higher wages mean smaller profits and will get taxed as income tax as well as putting more money in people's pockets.

@paulgibbons2320

7 күн бұрын

Only if we also have rent controls so fat landlords cannot absorb it.

Value the art, racehorse etc. at the absolute highest and then the owner has to challenge it down with evidence, make them do the work.

Credit where credits due I totally agree with you here. By avoiding the tax on assets and basing it solely on income has allowed the super rich, the top 0.1 %, to squirrel more and more of the nations wealth away out of the reach of the tax man at everyone else’s expense. You further raise the good point of how the hell does the tax man get access to it especially as so much of it is probably buried off shore somewhere.

Nice intro from the presenter demonstrating the difference between expertise and privilege.

Why not end the cap on council tax bands?

Right, that decides me.

See Gary's Economics ...

Just a shame their manifesto has no chance of being implemented.

@OghamTheBold

27 күн бұрын

Labour won't implement 1p of tax on those taking £1,000,000 a week out of the UK economy witch has the meanest pensions in Europe

@lkyuvsad

27 күн бұрын

That's also true of Reform, but that doesn't mean they're not having a huge impact on the policies the Conservatives have been implementing.

@keithparker1346

27 күн бұрын

Yes but it puts the idea of taxing the rich out into the public

@charlytaylor1748

5 күн бұрын

@@keithparker1346 The rich are already taxed

@keithparker1346

5 күн бұрын

@@charlytaylor1748 they can afford to pay more

They delete any comment I post containing the truth I want to talk about

@PeachesandCream225

26 күн бұрын

whats the truth?

@paulgibbons2320

7 күн бұрын

​@PeachesandCream225 it just got deleted.

@paulgibbons2320

7 күн бұрын

They do this to me aswell. Keep fighting. Censorship is a lousy shield.

Go Green 💚

@Sonya_Makepeace

27 күн бұрын

Greens are Communists.

@OghamTheBold

27 күн бұрын

​@@Sonya_MakepeacePrince A ndrew is not a Communist but he does like quarter million Universal Basic Income for one

👍

Wealth is what retired people - no longer earning - may depend on

@michaelgriffiths5723

12 күн бұрын

Sell it and put it in a retirement fund

@paulgibbons2320

7 күн бұрын

That's what the whole pension sector is for.

same old story about its too hard to tax the people with all the money

What a plonker Rodney 😅😅😅

Which green party ?

@OghamTheBold

27 күн бұрын

All of them - unless your research has found one that thinks democracy denying oppressive wealth delivering ultimately unstable society where kings' heads fall off is better

@col.hertford9855

27 күн бұрын

The Green Party

@col.hertford9855

27 күн бұрын

Not the Scottish Greens which are separate

@Killergoat69

23 күн бұрын

The Marxist Muslim one

@col.hertford9855

23 күн бұрын

@@Killergoat69 NURsSEEe!!!!

A friend of mine is a landord and has housed greens/hippies in the past. They preach end to fossil fuels, eat the rich and believe in love and freedom, but if they live in your house it is a different matter entirely. They will run the washing machine just for one pair of socks or a large oven just to heat up one veggie burger for two hours, and when it comes to cleanliness, they expect servants to run after them cleaning all their mess they make because they have trouble locating their mouth. The great irony in this is often their parents are rich bankers or similar and live in Hampstead.

@keithparker1346

27 күн бұрын

Sure...a friend of yours. Nice believable second hand story 😂

@Andrew-rc3vh

27 күн бұрын

@@keithparker1346 It's all true.

@keithparker1346

27 күн бұрын

@@Andrew-rc3vh whatever

@Andrew-rc3vh

27 күн бұрын

@@keithparker1346 Try it yourself if you don't believe me. Set up and air B & B specialising in hippy cuisine.

@keithparker1346

27 күн бұрын

@@Andrew-rc3vh why do you have to continue if your story is true?

Where did you find it, was it in the Beano ?

@OghamTheBold

27 күн бұрын

I like to proliferate the most cutting well-thought-out detailed criticism-how can I use that-this guy knows accountancy and is supplying ideas based on productivity

Utter childish gibberish sums it up. An A level wish list

greens migration control is no control at all

@OghamTheBold

27 күн бұрын

Total control of our borders - Greens provide the greatest defence and don't manufacture the bad men

The Greens these days are more Allah Akhbar, than raising the tax bar ;)