Should Corbyn remain as Labour leader?

[aRdja]

Tax the Capital Gain when you sell it or pass it on. That would be the easiest.

[AngryOfTuebrook]

27 minutes ago, viRdjil said:

Tax the Capital Gain when you sell it or pass it on. That would be the easiest.

It should be about what's fairest, not what's easiest. 

[Boss]

33 minutes ago, viRdjil said:

Tax the Capital Gain when you sell it or pass it on. That would be the easiest.

 

They already do that - in both instances.

[Boss]

4 minutes ago, AngryofTuebrook said:

It should be about what's fairest, not what's easiest. 

What's fairest is not taxing people again for income that's already been taxed. That's what's fairest. 

[TheHowieLama]

Certainly a capital gain is additional income.

[Boss]

Actually that's not true (on my part). It's not taxed until it's sold by the person who inherited it. And it works on a fair market value basis, so you only get taxed on the stock price when you acquired it versus what it was sold for, not the price that the person who left it to you bought it for.

[AngryOfTuebrook]

1 hour ago, Boss said:

What's fairest is not taxing people again for income that's already been taxed. That's what's fairest. 

So, for example, people who have paid income tax shouldn't have to pay VAT when they spend what's left of their income?

 

What's fairest is always going to be a subjective matter. Personally, I think "to each according to his needs; from each according to his means" is a good, moral rule of thumb.  By that measure, our current tax system is pretty unfair. 

[Strontium]

1 hour ago, Boss said:

What's fairest is not taxing people again for income that's already been taxed. That's what's fairest. 

 

That's not fair, it's preposterous. By the time a person receives it as income, it's already been taxed multiple times.

[Boss]

Just now, Sixtimes Dog said:

 

That's not fair, it's preposterous. By the time a person receives it as income, it's already been taxed multiple times.

 

Exactly, it's outrageous. 

[Strontium]

Just now, Boss said:

Exactly, it's outrageous. 

 

It's necessary for the functioning of the economy.

[Boss]

Just now, Sixtimes Dog said:

 

It's necessary for the functioning of the economy.

 

It's not necessary. If you want to advocate for it that's fine but it certainly is not necessary. 

[Strontium]

1 minute ago, Boss said:

It's not necessary. If you want to advocate for it that's fine but it certainly is not necessary. 

 

It's necessary if you don't want to leave glaring tax loopholes.

[Boss]

9 minutes ago, Sixtimes Dog said:

 

It's necessary if you don't want to leave glaring tax loopholes.

 

I'd say tax breaks, loopholes makes it sound like they are stealing what they already rightfully own. At the end of the day, there's far too many taxes and too much of our income is taxed as it is. If someone pays income tax, NI contributions, council tax and all the other myriad of taxes and then squirrels away some money after the government have taken their share, then the government have no right to dip in a second time. Double taxation is fundamentally unfair.

[Bjornebye]

1 minute ago, Boss said:

 

I'd say tax breaks, loopholes makes it sound like they are stealing what they already rightfully own. At the end of the day there's far too many taxes and too much of our income is taxed as it is. If someone pays income tax, NI contributions, council tax and all the other myriad of taxes and then squirrels away some money after the government have taken their share, then the government have no right to dip in a second time. Double taxation is fundamentally unfair.

I'd struggle with anyone who didn't agree with this.

 

Income tax and NI yes fine. 

 

Council Tax, bedroom Tax, Inheritance tax.... Thats theft. 

[Boss]

Just now, Bjornebye said:

I'd struggle with anyone who didn't agree with this.

 

Income tax and NI yes fine. 

 

Council Tax, bedroom Tax, Inheritance tax.... Thats theft. 

 

Agreed.

[Strontium]

Just now, Boss said:

 

I'd say tax breaks, loopholes makes it sound like they are stealing what they already rightfully own. At the end of the day there's far too many taxes and too much of our income is taxed as it is. If someone pays income tax, NI contributions, council tax and all the other myriad of taxes and then squirrels away some money after the government have taken their share, then the government have no right to dip in a second time. Double taxation is fundamentally unfair.

 

"Double taxation" is a term with an established meaning (being taxed by multiple jurisdictions on the same income) which is not being used correctly here.

 

Which particular taxes do you deem unfair?

[Strontium]

2 minutes ago, Bjornebye said:

I'd struggle with anyone who didn't agree with this.

 

Income tax and NI yes fine.

 

Council Tax, bedroom Tax, Inheritance tax.... Thats theft. 

 

Council tax is necessary for the proper funding of authorities.

 

Bedroom tax is not a tax.

 

Inheritance tax is only paid by the wealthiest 4% of estates. It raises more than £5bn a year. If you're talking about abolishing it, you're basically advocating a massive giveaway to the rich.

[Boss]

1 minute ago, Sixtimes Dog said:

 

"Double taxation" is a term with an established meaning (being taxed by multiple jurisdictions on the same income) which is not being used correctly here.

 

Which particular taxes do you deem unfair?

 

Stig's named a couple. There's all sorts of arbitrary ones that make little to no sense. Inheritance is particularly egregious though. 

[Bjornebye]

Just now, Sixtimes Dog said:

 

Council tax is necessary for the proper funding of authorities.

 

Bedroom tax is not a tax.

 

Inheritance tax is only paid by the wealthiest 4% of estates. It raises more than £5bn a year. If you're talking about abolishing it, you're basically advocating a massive giveaway to the rich.

The proper funding of authorities? I would kind of get that if we were actually seeing any benefit. A bin collection once a fortnight? If I got broken in to the Police (if they even bothered calling round) wouldn't follow it up. Where does income tax go? Surely with the amount of money generated from every worker in the country that amounts to enough not to need council tax. Why do I want billions pumped into Trident when the money is coming from the pockets of people who can barely afford to put a proper meal on the table for a whole month? 

 

Bedroom Tax is not a tax? What is it then? And however you try and spin it, what difference is it from being a tax? 

 

Are you sure about inheritance tax? If my Dad had managed to stick away 50k and decided to give me and my brother 25k each are you saying I wouldn't be taxed on that? Genuine question because I believed I would be. Not that it would ever happen the tight bastard. 

[Strontium]

Just now, Boss said:

 

Stig's named a couple. There's all sorts of arbitrary ones that make little to no sense. Inheritance is particularly egregious though. 

 

Inheritance tax is one of the best taxes there is. A tax on unearned income that only hits the wealthiest.

 

Why do you want to give a massive tax break to the rich?

[Boss]

4 minutes ago, Sixtimes Dog said:

 

Council tax is necessary for the proper funding of authorities.

 

Bedroom tax is not a tax.

 

Inheritance tax is only paid by the wealthiest 4% of estates. It raises more than £5bn a year. If you're talking about abolishing it, you're basically advocating a massive giveaway to the rich.

 

Why can't local authorities be funded with income tax?

[Boss]

1 minute ago, Sixtimes Dog said:

 

Inheritance tax is one of the best taxes there is. A tax on unearned income that only hits the wealthiest.

 

Why do you want to give a massive tax break to the rich?

 

It's been earned by the person that paid tax for it. I don't care who benefits from it, fundamentally the government should not be allowed to tax income that's already been taxed.

[mattyq]

27 minutes ago, Boss said:

 

It's not necessary. If you want to advocate for it that's fine but it certainly is not necessary. 

It's completely necessary

You have to pay for roads, binmen, fire brigade, hospitals, schools etc

It can also be used in a progressive manner to reduce inequality and to affect money supply etc

In short no functioning society could manage without taxation

[Bjornebye]

Just now, Boss said:

 

It's been earned by the person that paid tax for it. I don't care who benefits from it, fundamentally the government should not be allowed to tax income that's already been taxed.

Exactly. Regardless of the amount or wealth of the donator or recipient, its already been taxed. 

 

What next. Bailiffs jumping kids on the way to school and taxing their pocket money? 

[Boss]

4 minutes ago, Bjornebye said:

Are you sure about inheritance tax? If my Dad had managed to stick away 50k and decided to give me and my brother 25k each are you saying I wouldn't be taxed on that? Genuine question because I believed I would be. Not that it would ever happen the tight bastard. 

 

You wouldn't be taxed on that. The threshold is £325,000 and above.