“ Take Out the Trash Day“ is alive well at no 10

sherlock1969 said:
Seems he hides most of his earnings to avoid tax. On the income he does pay tax on, he pays about 22%.

Seems fair when others earning over £50k pay 40% 🙄
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It's mostly from capital gains which is taxed at 20%. There are plenty of arguments showing why raising that number might not be the wisest thing. Businesses rely on investment and without it it would seriously limit growth. Unlike income it is very easy to stop investing in something in one country that is taxed highly and invest in something else that is taxed less. It doesn't rely on you uprooting your life and leaving the country. You just set up a bank account elsewhere and invest from there. Capital investments are made after tax so tax has already been paid on that capital as well.

Also, someone on £70k only pays 30% tax because they pay 0% below the Personal Allowance and 20% on the next £37k. 40% is only the marginal rate.

I'm not defending Sunak. It looks like he has paid the correct tax so at least he is following the rules. My issue is that there is no recourse for taxing people that are so wealthy on their true wealth and I assume there will be a large portion of his income/wealth that is hidden or shielded from being included in his quoted figures.
 
BaronSmoggie said:
Yeah I said they should be judged on attitude, not wealth. You said they should be judged on being able to relate to the common man. Its the same thing.
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OK, well I agree that we're on the same page there. But I would probably judge someone's potential ability to be PM on how they'd acquired their wealth. Which is sort of a separate thing. Like if I genuinely didn't think they had any experience whatsoever of ever having lived a 'normal' life (in the economic/statistical sense) I would count them out as a contender. Not saying I'd judge them on it as a person.
 
Ingleby_Flash said:
Yes someone skint like Boris. How did that work out in the connecting to the common man department?
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Brilliantly to begin with, he swept up the red wall. Tories would still stand a better chance if he was their leader now. I can't stand the bloke, but he connected with the working classes better than any other recent mainstream party leader, that cannot be denied. I never voted for him and never would.
 
atypical_boro said:
OK, well I agree that we're on the same page there. But I would probably judge someone's potential ability to be PM on how they'd acquired their wealth. Which is sort of a separate thing. Like if I genuinely didn't think they had any experience whatsoever of ever having lived a 'normal' life (in the economic/statistical sense) I would count them out as a contender. Not saying I'd judge them on it as a person.
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What's a "normal life" though ? His parents were a GP and a Pharmacist,, so hardly the landed gentry. Obviously he had a decent upbringing and attended a prep school, and his life since university has been one of privilege and wealth, but it's not like he's an aristocrat or member of the royal family.

I now need to go and wash myself, for defending him.
 
The_Lizards_Jumpers said:
What's a "normal life" though ? His parents were a GP and a Pharmacist,, so hardly the landed gentry. Obviously he had a decent upbringing and attended a prep school, and his life since university has been one of privilege and wealth, but it's not like he's an aristocrat or member of the royal family.

I now need to go and wash myself, for defending him.
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Well he was educated at a school with the most prolific track record of producing terrible state leaders probably anywhere in the world.
 
atypical_boro said:
OK, well I agree that we're on the same page there. But I would probably judge someone's potential ability to be PM on how they'd acquired their wealth. Which is sort of a separate thing. Like if I genuinely didn't think they had any experience whatsoever of ever having lived a 'normal' life (in the economic/statistical sense) I would count them out as a contender. Not saying I'd judge them on it as a person.
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Fair enough. We have differing opinions there. I think that regardless of how wealth may have been obtained (legally, not criminally obviously), people can still empathise even if they are not in that situation themselves.
 
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