You just have to accept that you've been shafted.

[icowden]

If we are talking about how much you need to "get by" then you could live on a lot less than £50 million.

True, but we need to have a level of "I'm rich and can do pretty much what I want" in order to have something to aim for.

 

[fozy tornip]

We do?

 

[Deleted member 121]

True, but we need to have a level of "I'm rich and can do pretty much what I want" in order to have something to aim for.

Are you sure about that?

The only people aiming for that are Bastards, Hedge fund Managers and Banksters... These types, notably at #7 Israel Englander who has possibly the most bankster name i think i have ever heard... But apparently, despite being able to pretty much do what they want, they still want more...

So, What about Health Care workers? Emergency service workers? Sure, you can earn a nice amount as a surgeon or senior doctor but we're still not talking "i'm rich and can do pretty much what i want". Children and Young adults study to go into these careers knowing that but many are passionate about it but are never going to be millionaires unless they move into cosmetic surgery, even then there are limits...

No one is going to turn down huge amounts of money, but i don't think those sums motivates most of us, realistically... Making ends meet, Supporting your family, sure. Nursing a cancer survivor back to health, sure. Saving a child's life in a house fire, sure. But waking up on Monday morning, striving to have 50 million quid seems like the dreams of a deluded fool or someone who already probably has enough and i don't know anyone like that.

 

[BoldonLad]

You rang. Most of my daughters fees have been paid for via home equity release. That said my wife and I have good salaries. But then I pay £2k per month mortgage, about £500 on gas and electricity, £300 a month on council tax, then the home and contents insurance, broadband, mobile phones etc. I pay a lot of VAT and a good amount of income tax.


Yes thanks.


IMHO when they can afford multiple cars,a nanny, a gardener, a private cinema and a multigym.

I would however embrace the idea that instead of having billionaires, we just declare that "You have won life" once you accrue say 50 million quid. I reckon I could get by for the rest of my life on 50 million quid. Anything after that goes to help people who need it.

Yes, paying more tax is very desirable, when someone else is doing it.

The answer to who are “the rich” is simple, they start just above me, in wealth terms, and go up.

 

[Deleted member 28]

The answer to who are “the rich” is simple, they start just above me, in wealth terms, and go up.

As @icowden just proved, it seems as long as you spend everything you earn each month then someone else can pay.

 

[Deleted member 28]

IMHO when they can afford multiple cars,a nanny, a gardener, a private cinema and a multigym.

But not when they can afford 2 kids at private School, 2k mortgage, etc, etc.

Give your head a wobble pal.

 

[Deleted member 28]

We need to tax the wealthy,

We already do, footballers for example pay out around half their wages in tax and NI so just work that out.

Average Premier league salary £60k per week at a guess, that's some contribution.

How much would you have them paying out, 60%, 70%, 80%?

 

[Beebo]

As @icowden just proved, it seems as long as you spend everything you earn each month then someone else can pay.

It’s an interesting question.
Should someone earning £70k with no dependents or mortgage be taxed more than someone earning the same with 2 children and a mortgage.
Companies are taxed on profit not turnover. Could as similar system be used for individuals? Tax them on their disposable income after certain costs are taken into account. (Private school fees won’t be on the list)
I know the “richest” time of my life was before my wife and I had children. We both worked full time and had more money then than we do now. I suspect this pattern will repeat once the kids have flown the nest.

 

[multitool]

There are plenty of tax avoidance schemes out there. How do you think the rich get to be so rich? Through hard work?

It's a rigged game.

 

[Beebo]

We already do, footballers for example pay out around half their wages in tax and NI so just work that out.

Average Premier league salary £60k per week at a guess, that's some contribution.

How much would you have them paying out, 60%, 70%, 80%?

Premier League Footballers are a very rare beast.
Most ultra rich aren’t employees paying PAYE.
It’s the other income streams that needs taxing.

 

[Deleted member 28]

It’s an interesting question.
Should someone earning £70k with no dependents or mortgage be taxed more than someone earning the same with 2 children and a mortgage.
Companies are taxed on profit not turnover. Could as similar system be used for individuals? Tax them on their disposable income after certain costs are taken into account. (Private school fees won’t be on the list)
I know the “richest” time of my life was before my wife and I had children. We both worked full time and had more money then than we do now. I suspect this pattern will repeat once the kids have flown the nest.

Now you really are talking boll0x, tax someone on what outgoings they choose to have?

 

[Julia9054]

I don’t know about rich - I suspect that depends on your perspective but my definition of comfortably off is not knowing how much you spend a week on groceries.
I have no objection to paying more tax if it means we get better services and that society works for everyone

 

[Deleted member 28]

Premier League Footballers are a very rare beast.
Most ultra rich aren’t employees paying PAYE.
It’s the other income streams that needs taxing.

We're here again 'the rich' the 'ultra rich' at what level do people become this?

According to one bloke having a home cinema and a multigym defines 'richness' yet a 10 million per yr footy player isn’t in your eyes?

 

[Deleted member 28]

I don’t know about rich - I suspect that depends on your perspective but my definition of comfortably off is not knowing how much you spend a week on groceries.
I have no objection to paying more tax if it means we get better services and that society works for everyone

Knowing or caring?

Unless someone else does the shopping how can you not know?

 

[Beebo]

We're here again 'the rich' the 'ultra rich' at what level do people become this?

According to one bloke having a home cinema and a multigym defines 'richness' yet a 10 million per yr footy player isn’t in your eyes?

I didn’t say that.
I said just looking at PAYE isn’t helpful.