Ross. Posted October 31, 2019 Share Posted October 31, 2019 2 minutes ago, 54_and_counting said: Why? It perpetuates inequality. 2 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted October 31, 2019 Share Posted October 31, 2019 1 minute ago, Ross. said: Over a certain point it becomes damaging to the wider economy. I'd support 100% taxation on inheritance over a limit of say, £3m. Some houses would be worth that, no? (I don't disagree with you, I just don't see how it would be implemented. Anybody with that amount of wealth would have an array of tax specialists, accountants and lawyers to circumvent any new rules, just as they circumvent the present laws.) 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted October 31, 2019 Share Posted October 31, 2019 1 minute ago, Gordon EF said: Why and how would this discourage people from either developing products or services or from becoming personally richer? We're talking about billionaires. Can you see any scenario in which someone thinks, "I could make £500m by working really hard, developing this product and growing my business.... but... only £500m... f**k it. Harldy worth bothering my arse"? By using previously gained wealth to fund or develop other projects......some of which may just be for the greater good of humanity (clean energy sources, illness cures etc). Rumour goes that we might already have had "free energy" had Tesla had the self funding wealth as opposed to having his loans withdrawn by JP Morgan. -1 Quote Link to comment Share on other sites More sharing options...
Derry Alli Posted October 31, 2019 Share Posted October 31, 2019 4 minutes ago, Gordon EF said: Also, that's exactly what peopel do right now. It's just a question of extent. Which billionaire does this.. and how do I get in touch with them? 0 Quote Link to comment Share on other sites More sharing options...
Gordon EF Posted October 31, 2019 Share Posted October 31, 2019 (edited) 2 minutes ago, sjc said: By using previously gained wealth to fund or develop other projects......some of which may just be for the greater good of humanity (clean energy sources, illness cures etc). Rumour goes that we might already have had "free energy" had Tesla had the self funding wealth as opposed to having his loans withdrawn by JP Morgan. That rumour sounds like an absolute load of shite though, to be fair. But logically, if normal poeple can become billionaires through developing some amazing product, then millionaires can also do it. Edited October 31, 2019 by Gordon EF 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted October 31, 2019 Share Posted October 31, 2019 3 minutes ago, Jacksgranda said: Some houses would be worth that, no? (I don't disagree with you, I just don't see how it would be implemented. Anybody with that amount of wealth would have an array of tax specialists, accountants and lawyers to circumvent any new rules, just as they circumvent the present laws.) I'll be honest, I plucked that figure out of thin air. Some houses will be worth that, and if sold and distributed between 4 siblings(Again, plucked from nowhere...) it would mean each inheriting less than the figure to be taxed. Your second point is spot on, but that is another issue altogether. 0 Quote Link to comment Share on other sites More sharing options...
Gordon EF Posted October 31, 2019 Share Posted October 31, 2019 (edited) 6 minutes ago, Dele said: Which billionaire does this.. and how do I get in touch with them? Thinking about it now, you're right, there's absolutely no degree or redistribution within th economy at the moment. Edited October 31, 2019 by Gordon EF 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted October 31, 2019 Share Posted October 31, 2019 1 minute ago, Ross. said: I'll be honest, I plucked that figure out of thin air. Some houses will be worth that, and if sold and distributed between 4 siblings(Again, plucked from nowhere...) it would mean each inheriting less than the figure to be taxed. Your second point is spot on, but that is another issue altogether. Anybody who can afford a house worth £3 000 000 won't have 4 children. FACT (Apart from Rod Stewart, obviously.) 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted October 31, 2019 Share Posted October 31, 2019 5 minutes ago, Gordon EF said: That rumour sounds like an absolute load of shite though, to be fair. https://ahtribune.com/opinion/426-nikola-tesla-j-p-morgan.html 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted October 31, 2019 Share Posted October 31, 2019 I’d like to be a billionaire but I think it’s unlikely that I ever will be. 0 Quote Link to comment Share on other sites More sharing options...
Richey Edwards Posted October 31, 2019 Share Posted October 31, 2019 Let me just consult The Communist Manifesto. 1 Quote Link to comment Share on other sites More sharing options...
Shandon Par Posted October 31, 2019 Share Posted October 31, 2019 You must be pretty money-motivated to become a billionaire. Personally I'd weigh in everyone I know, try and set up/fund some good causes and live a simple life (albeit with a well-stocked harem). 0 Quote Link to comment Share on other sites More sharing options...
Derry Alli Posted October 31, 2019 Share Posted October 31, 2019 5 minutes ago, Gordon EF said: Thinking about it now, you're right, there's absolutely no degree or redistribution within th economy at the moment. Um, okay. Strange time to throw your toys out the pram but whatever. 0 Quote Link to comment Share on other sites More sharing options...
The OP Posted October 31, 2019 Author Share Posted October 31, 2019 29 minutes ago, ICTChris said: Here are Scotland's billionaires Glenn Gordon and family - spirits - £2.882bn. Sir Ian Wood and family - oil services and fishing - £1.763bn. Mohamed Al Fayed and family - retailing - £1.7bn. John Shaw and Kiran Mazumdar-Shaw - pharmaceuticals - £1.689bn Mahdi al-Tajir - metals, oil and Highland Spring water - £1.66bn Trond Mohn and Marit Mohn Westlake and family - industry - £1.602bn Thomson family - media - £1.401bn. Philip Day - fashion - £1.2bn. The Clark family - of the Arnold Clark car dealership - £1.178bn. Jim Mellon - property and finance - £1.1bn. Jim McColl, of Clyde Blowers - £1.1bn. I wonder if any of them post on P&B I doubt Al Fayed would've been able to resist the allure of the 'Proven Conspiracy Theories' thread. 1 Quote Link to comment Share on other sites More sharing options...
yoda Posted October 31, 2019 Share Posted October 31, 2019 19 minutes ago, sjc said: The effect on inflation would cancel out any benefit of UBI. You be better off providing services that people need that artificially giving them monetary wealth. The argument that UBI would increase inflation is nonsense. It wouldn't, or if it did, it would be so small as to hardly be noticeable. 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted October 31, 2019 Share Posted October 31, 2019 Just now, yoda said: The argument that UBI would increase inflation is nonsense. It wouldn't, or if it did, it would be so small as to hardly be noticeable. It isn't really. For example, there's a shortage of affordable housing, both private and social, giving everyone £1000/month won't reduce the shortage. Rents would just go up accordingly. 0 Quote Link to comment Share on other sites More sharing options...
Cerberus Posted October 31, 2019 Share Posted October 31, 2019 31 minutes ago, Hedgecutter said: Philanthropy rarely seems to solve the world's ills. Give a man a fish and he'll eat for a day. Give him a fishing rod and he'll break it for firewood...or swap it for a fish. Give a man a fish and you feed him for a day. Don't teach a man how to fish and you feed yourself. He's a grown man. Fishing isn't that hard. 2 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted October 31, 2019 Share Posted October 31, 2019 39 minutes ago, Ross. said: It perpetuates inequality. Cash inheritance yeah, but business inheritance id say no unless you sold it upon inheriting it, 0 Quote Link to comment Share on other sites More sharing options...
yoda Posted October 31, 2019 Share Posted October 31, 2019 4 minutes ago, sjc said: It isn't really. For example, there's a shortage of affordable housing, both private and social, giving everyone £1000/month won't reduce the shortage. Rents would just go up accordingly. "Rents going up" =/= "increase in inflation" Sure, rents might go up. But then why increase wages? Why increase any social security? You're just giving people money in both of these examples, and using your logic then rents will still go up. Anyway, you're missing the point - the lack of affordable housing is not related to UBI, it's a separate issue that needs to be addressed. Nobody is arguing that UBI will solve that specific problem. The specific solution to that (in the UK at least) issue is build more houses and stop people using housing as a financial asset. You said it would increase inflation, presumably on the faulty logic that "more money = more inflation". That's not likely to happen because we're not creating money out of thin air, it's money that already exists. The idea that UBI will result in a devastating hyper-inflationary spiral is rubbish. Here's some links: https://www.vox.com/policy-and-politics/2017/9/20/16256240/mexico-cash-transfer-inflation-basic-income https://medium.com/basic-income/will-basic-income-cause-massive-inflation-no-f93175c24e48 I don't think UBI is necessarily going to fix the problem of poverty or inequality, and I'd rather see taxes from billionaire c***s spent on other things, but it's a significantly better use of Jeff Bezos's billions than vanity space projects. 1 Quote Link to comment Share on other sites More sharing options...
Ross. Posted October 31, 2019 Share Posted October 31, 2019 3 minutes ago, 54_and_counting said: Cash inheritance yeah, but business inheritance id say no unless you sold it upon inheriting it, Over a certain value, it is irrelevent Especially in times of low economic growth elsewhere. "Dead money" earns far more than hard work and saving. 0 Quote Link to comment Share on other sites More sharing options...
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