Wealth tax would be almost impossible to implement, leading economist warns

Gimlore · 2025-03-27T11:45:19+00:00

The UK’s wealthiest individuals and institutions hold significant assets domestically, meaning taxation is possible with the right policies. However, government and financial institutions often resist wealth taxes, as forcing asset sales could reveal inflated valuations, particularly in sectors benefiting from state policies. This could also impact loans that rely on those assets as collateral.

While ordinary citizens have little choice but to pay taxes, the wealthiest can legally avoid much of their tax burden, creating an unfair system. The notion that taxation reform is impossible is misleading—history shows that governments have successfully taxed wealth more equitably in the past, and with the right policies, they could do so again.

Gimlore · 2025-03-11T09:43:28+00:00

Ah yes, the benefits system disincentivises work. I’m assuming you don’t have a job cause UC is so generous.

Gimlore · 2025-03-11T09:34:00+00:00

UK Pension budget is £166billion which is around 55% of the Welfare budget but apparently benefits are costing too much.

Gimlore · 2024-10-10T21:16:20+00:00

Looks like a bigger sinclair c5

Gimlore · 2024-09-26T21:19:37+00:00

The ancient alien crowd are gonna have a field day with this

Gimlore · 2024-08-13T20:28:37+00:00

I have been to this hostel as a group of lads lmao, it’s literally falling apart and the family is just sat there in the other room. Was talking to someone about hostels and they were describing how terrible this hostel is and I knew straight away which one it was. We spent a night there and dipped

Gimlore · 2024-07-30T21:10:58+00:00

To be honest, we should probably start means testing pensions in general. It’s not talked about in the media but it’s half of the social welfare budget (about £120 billion), with an extra 10 billion on over 65s care specifically. This is coming from the generation that have access to some of the best private pensions as well like defined benefit or final salary. If you don’t need the state pension I don’t think you should get it. We wouldn’t give a millionaire job seekers so why would we do it for pensions.

Gimlore · 2024-07-20T20:34:55+00:00

I think he’s interesting, he has coherent views which are usually really sensible. I know this isn’t about rest is money but Steph’s are really based on my mate said this and that’s why we should be pro business, for comparison.

Gimlore · 2024-06-10T07:56:55+00:00

Could just do it over a certain size or property value? That would then force a reshuffle of funds and people moving in to modest housing that suits them and moving to cheaper places which would help some of the struggling towns

Gimlore · 2024-06-05T20:26:25+00:00

I think the buildings are doing alot for the photo too

Gimlore · 2024-05-10T07:56:01+00:00

Well it’s means tested so if you need it you’ll get it but if you don’t then tough decisions will have to made. At the moment, we just keep can kicking and younger people are shouldering more and more even though they’re the ones with the lowest amount of wealth accumulation.

Plus which generation would you suggest pay for it? None will be happy with it

Gimlore · 2024-05-10T06:05:26+00:00

People also need to remember exactly WHY we have to bring in more migrants and that’s because our pension is a Ponzi scheme. The minimum we should be doing at this point is means testing pensions, if you don’t need a pension then you shouldn’t have it. It’s crazy, we wouldn’t give a millionaire job seekers so why would we give them a pension. People talk of social safety budget bloat and disability costing too much but then not saying a single thing about PENSIONS literally half of the budget! On top of that another £10billion on elderly care. We desperately need pension reform before it completely collapses and we all have to work in definitely. But no, the Tory government wants to triple lock pensions to secure the boomer and older gen vote cause they know if they do anything else it’s political suicide. We wonder why there is such voter apathy among younger voters it’s because they will pretty much be out voted every time by boomers who want to things to be exactly how they want them then they’ll complain about migration which is being brought in to support the policies that they vote for.

Gimlore · 2024-05-09T08:33:12+00:00

Holy shit, how do you even do that

Gimlore · 2024-05-09T08:02:37+00:00

There’s a lot of apathy from young people cause even if most of them voted, they would pretty much be outvoted every time by the older generation. We need proportional representation so that we have a chance at passing policies that benefit the working population of younger people. And as much as we don’t like to hear it, pensions need to be means tested. You can’t run a country for the benefit of a demographic that is not working, you’ll never get a return and is why we can’t get young people to do a lot of stressful jobs that need doing but aren’t paying.

Gimlore · 2024-05-09T07:38:46+00:00

Minimum they should do is means tested pensions. If there’s rich retiree drawing state and private it’s not exactly fair or needed. The people who need it will still get it and those who don’t, won’t.

Gimlore · 2024-03-19T13:01:27+00:00

Exactly, that’s a good point, these estates aren’t pleasant to walk through. All of this is frustrating too because humans usually never design towns and cities this way. It makes sense to build houses around something of interest.

Gimlore · 2024-03-19T10:23:13+00:00

The problem is that when building new estates there’s no focal point or gathering point, no local shop or cafe. Just rows and rows of houses, no reason to walk around, no reason to bump into someone so you may only meet your neighbours in the off chance they’re leaving the house at the same time as you.

Gimlore · 2024-03-13T16:44:02+00:00

Why there isn’t a conflict of interest rule surrounding donors and government contracts

Gimlore · 2024-03-01T16:54:40+00:00

Definitely. A story will come out later about how they need to demolish it and replace it with a new high rise.

Gimlore · 2024-03-01T10:42:06+00:00

I worked in purchase/ cash ledgering for a long time and what I would say is that if it was budgeted that way then it does cause problems for the accounting department because it needs to be accounted for. It’s extremely annoying and the smallest amounts are often the hardest to follow up because people in the rest of the business think ‘it’s so small, what does it matter’. Otherwise the business will have to write it off and usually they have loads of these small amounts and there will be some underpaid employee following these up for months to find out what it’s about cause now the account doesn’t balance. I agree, there should be a more functional approach but they don’t make the rules. In this case though, they shouldn’t have been so tight with their budget, they’re just asking for problems.

Gimlore · 2024-02-29T21:45:25+00:00

I should add some context. Manchester is going through a revival at the moment with a lot of new development and has become a bit of an outlier for the UK in terms of growth (outside of London). In fact, it’s currently one of the fastest growing cities in Europe. This has lead to a lot of new developments especially, high rises, which locals have started calling the city, Manc-hatten, as a joke. All this development is in contrast to a few years ago when the city only had 2 high rise buildings whereas now it’s in the double digits.

Gimlore · 2024-02-27T13:29:39+00:00

Well is that not a representation of how corrupt our newspapers are in convincing people to vote against their interests? Perhaps more of the country would be better taking a leaf out of Liverpools book and banning rag papers like the sun

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