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  1. Yesterday
  2. Income. There's a weird tipping point in tax rates that makes it cheaper and easier to go ahead and pay up at lower rates than construct elaborate tax shelters. It's odd but whenever taxes are lowered, there's more revenue. Some favored tax shelters encumber money for many years and it only really pays to go that route at higher rates. One of my many consulting jobs was for a tax lawyer and I saw the lengths that people will go to legally avoid paying taxes. There are enough shelters and loop holes to drive a battleship through. You didn't really think congress has the country or citizens best interests in mind, did you?
  3. Last week
  4. You can't tax a person on minimum wage, by definition this is the amount required to live. See how the US compares with the rest of the world. You know the saying: "You get what you pay for!" But is it true? I live in France. Some very rich countries can afford low taxation, but there I'm thinking Switzerland. I guess we need another graphic comparing quality of life, number of people living below the poverty line. That's 1 in 8 Americans or 38.1 million in 2018. 1 in 7.5 French or 8.8 million. So France taxes at at an incredibly high rate and has practically the same percentage of poor as the USA. You got to ask yourself, "Where does all the money go?" Maybe taxation has got nothing at all to do with poverty?
  5. There's no such thing as altruism on that level. When the elites let go of money, it's either a tax break or a publicity stunt. People that have banked that kind of money don't throw it away. They'll hire accountants and tax lawyers and in the end, pay less than their secretary. There's a reason the tax code is something like forty-five bound volumes. If you are a plumber or electrician you can't afford the loopholes or the expertise to use them. I'm in favor of a flat tax. 10-12% no deductions. All the crooked loopholes go null and void and the null and void tax lawyers and accountants will have to work for a living. That alone would make it worth doing.
  6. Earlier
  7. Miles from Home is a nicely written, well paced story. So far, it is very enjoyable. http://www.niftyarchive.info/nifty/gay/college/miles-from-home/ Let the author know if you like it.
  8. The argument is valid, but the world is not that altruistic. Some immensely wealthy people have done this: https://en.wikipedia.org/wiki/The_Giving_Pledge
  9. Story at http://www.awesomedude.com/alan_dwight/the-dreamer/the-dreamer.htm. Really amazing series of denouements in the final portion. And an "awww" moment at the end. And a magnificent male teacher in this one too. R
  10. That is true, but different propositions exist. The government could take equity from the property, thus a house worth £100,000 the government would take 1%. The 1% equity would be cashed with the sale sometime in the future. The argument for the one off wealth tax goes like this: wealthy people today have made their wealth through a thriving economy, it is not right or beneficial to ask businesses hit by an economic recession to pay the cost of the present situation when they will be struggling to recover. It is also not fair to impose the economic burden on future generations. Hence, the payment should come from today's wealth, those who have benefited from an economic boom before the crash.
  11. It was hard to get her agreement, but finally: Sassy is happy to donate two bowls of her favourite biscuits and all the sachets of the wet food she particularly dislikes. I'd be happy to help out by busking, but people keep shouting, and throwing buckets of water over me.
  12. While I agree in principle with a one-time tax, what's been written here is a massive oversimplification. Rich people as a whole do not keep vast sums in a savings account. They invest their money. There are many such investments that do not allow for a large withdrawal of cash. A lot of people do this in real estate. Ask them to pay a one-time huge tax, they'd have no cash to do so. Make them sell assets to pay the taxes? You want to see a revolt? It wouldn't be pretty. And, here at least, there'd be so much haggling before such a bill ever got passed here, by the time it was promulgated, those to be taxed would have figured out how to avoid it.
  13. Some countries, Germany amongst others, are seriously considering a one off wealth tax. You won't have a choice, it's a tax, and rich people who don't like it, won't have time to change their country of residence for taxation. So if it's voted, you"'ll pay it, straight from your bank account. Camy and Cat - Barclays Bank current account - September 2020 - Debit £1000 wealth tax. But looking on the bright side maybe you're just as poor as the poor old cat 😊
  14. The thing is, Talo, rich people don't like giving their money away. It's why they're rich. I'm probably not going to have children, and the Cat's not too keen on paying bills. The world as we knew it, last year, is over. Once the 'new normal' settles down we'll still have the haves and have-nots. They'll still be wars, starving children, and wet markets in China....
  15. £1000 one off wealth tax on 14 million richest people and you've paid off that debt. There's billions sitting in bank accounts, everybody will have to contribute... or you can leave your children's children to pick up the bill. There is also an opportunity to stop rampant capitalism, otherwise known as speculation.
  16. It's ironic, that after ten years of austerity, because of the 2008 crash, the UK government is now paying 80% of the salaries of almost the entire UK workforce (14 billion a month). It's a very fine line between public safety and a dead economy. Where will we be in ten years? No doubt some author of dystopian fiction will have the answer....
  17. I love that video. Can't see it too often!
  18. Good question. The link at the top of this thread still works, however.
  19. Something certainly needed refreshing!! 😁
  20. Why don't we get more of these?! Come on, Camy. You know you love writing these. With all the woe in the world now, this was a needed refresher. C
  21. Hey, what happened to the story link on the AD home page? It disappeared with this week's update. I hope that wasn't intentional, as it's a wonderful story. It can't be reached from Alan's home page either, as that hasn't been updated in some time.
  22. Simon's Socks A great, funny, short from Camy, masterfully evocative of a British Boarding Schoolboy's adventure with some socks... No I'm not going to explain that, just go read!
  23. 'Simon's Socks' where whiffy feet aren't the end of the world.... Coming soon to a browser near you!
  24. And here we thought you were always on holiday. C
  25. Camy

    Baxter Epilogue

    1) Their editor is having conniptions. 2) The author dyed his hair blonde and consequently lost the plot. 😜 3) "I had that USB stick in my pocket, I know I did." 4) Aliens ate it. PS please excuse me tarting around making flippant comments. If I don't, the cat says my sanity is likely to take a holiday, and meow.
  26. Why shouldn't blondes get a coffee break? It takes too long to retrain them. Blonde jokes... jokes short enough for men to understand. What do you call it when a blonde dyes her hair brunette? Artificial Intelligence.
  27. Sometimes things are hidden until the author wants them shown publicly. There are a number of reasons for this. C
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