Stevek76 wrote: ↑24 Jan 2025, 1:20pm
pete75 wrote: ↑24 Jan 2025, 11:25am
Is it fair to charge soem more than others for the same thing? Perhaps there should be a limit -£100k tax in a year and a thnakyou letter, youve done your bit mate and we won't take any more off you until next year.
Yes it is, because generally those who are wealthier/higher income are doing so/have become so on the basis of the labour of those who are less well paid. Government intervention to correct distorted markets is generally a good thing for the overall country and massive wealth/income inequality as we currently have is such a distortion. Or do you think today's high wealth/earners have an order of magnitude better ability than those from half a century ago when top to bottom earnings ratios were more like 20:1 at most.
Well yes, they obviously have a much greater ability to make money, if what you say is correct.
20:1 at most? In 1975 I earned about 75 quid a week winding stators on piece work, call it £4,000 a year. Someone towards the top of the income scale , say Paul Mcartney was probably earning a thousand times that or more - and at a time when Britain was about the most egalitarian country in the developed world. It ain't now and it's going to get even less so.
As the economy declines further it won't be the better off who suffer. Why do you think right of centre parties are turning to populist politics, if not to give those at the bottom the illusion someone is listening to their concerns and will address them. It'll work too.
As Warren Buffet said “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”