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TOPIC: What the rise of the superich is doing to us.

Re: What the rise of the superich is doing to us. 2 years 9 months ago #207666

What surprises me is that this sort of rubbish surprises any of you! :silly:
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Re: What the rise of the superich is doing to us. 2 years 8 months ago #209565

  • dharmabum
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I had to smile...

“The only time that I use the state,” one financier worth an estimated £500 million confided in me recently, “is when my driver drives on public roads from the City to my country estate. I don’t like it, but I can’t help it.”

I feel for him... :(
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Re: What the rise of the superich is doing to us. 2 years 8 months ago #209700

  • confused
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www.guardian.co.uk/society/2012/feb/24/w...-love-uk?INTCMP=SRCH
The UK Office for National Statistics publishes my favourite one. This measures inflation using a basket of goods in common use – a category that is constantly shifting, and at the moment includes mobile phone downloads, sparkling wine and long-sleeved cotton shirts.....

...The super-rich index is made up of items that are, let's say, different. A Russian sable coat at $240,000, a facelift for $18,500, a thoroughbred yearling racehorse at $319,340, a Sikorsky helicopter at $14.8m, an arrangement of flowers changed weekly for six rooms at $98,100 or a year's tuition at Harvard at $56,652. It is, in a dark way, hilarious that a Harvard education counts as a luxury good. If all that starts getting too much, you can always decompress with a week at the Golden Door Spa in California, $6,750, or 45 minutes with an Upper East side shrink for $325....


....To be in the 1%, in income terms, you have to earn – or, as the Socialist Worker has it, "earn" – £150,000 a year. That's a lot, to most people's way of thinking – but not to the way of thinking of the rich. I've asked quite a few people in the world of money, the kind of people who know properly seriously rich people, what counts are being properly, seriously rich. The consensus figure is that you need $100m. At that level, even the seriously rich agree that you are rich...

The capital of the UK has one of the world's largest concentrations of the super-rich, and the reason for that is that we have chosen to have them here, as a matter of deliberate government policy. The relevant policy is the notorious provision in relation to "domicile", as a definition of an individual's tax status. Every other civilised country in the world taxes its inhabitants on their income and capital: the basic rule is that if you live in a place, you pay its taxes. But it's different in the UK. Here, if you come from overseas, and can prove strong links with overseas, and can prove that you are going to return to overseas, and can therefore establish a "domicile" overseas that is different from your "residency" in the UK – well, in that case, you are treated entirely differently for tax purposes. You pay tax on your income in the UK, like the rest of us; and you can remit capital to the UK; but your overseas income, as long as you keep it overseas, is out of the reach of the Inland Revenue.

What this policy amounts to, in practice, is that the UK has a gigantic sign hanging over it saying, "Rich People! Come and Live Here! You Won't Have to Pay Any Tax!" It is an extraordinary policy for any developed nation, and not one that anyone else has been tempted to adopt. Other countries have low tax rates to attract businesses – in the EU, Ireland and the Netherlands stand out – but the only countries that have anything even vaguely resembling the British policy towards the super-rich are places that are openly accepted as tax havens, such as Monaco and Switzerland.
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Last Edit: 2 years 8 months ago by confused.
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Re: What the rise of the superich is doing to us. 2 years 8 months ago #209773

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Hmmmm. So all we have to do is get the "they" to redefine "super rich". I mean, as idlers our lives are super rich with experience unfettered by bosses (at least, mine is :dry: ). Besides, if one is "making" no money from working, there can be no taxes to pay, no matter the percentage used in the figuring. Like that song, "Nothing from nothing leaves nothing."
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214383

  • Mr.E.C.R.Lorac
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The chancellor has said he is "shocked" that some of the UK's richest people have organised their finances so that they pay virtually no income tax.

:laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh:

Goodness me how ever did they ever manage to keep that quiet from Gideon all this time? Not that the rest of us didn't know, but Gideon, him being the chancellor and all... :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh:
It beggars belief that he would actually stand there and say that and manage to keep a straight face.


If there's one thing we can all agree on it's that we can all agree to disagree about the one thing we all agree on...
Last Edit: 2 years 7 months ago by Mr.E.C.R.Lorac.
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214499

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It's a stand-up comedy routine, politicians saying the joke is on you, meaning everyone else. He's just the straight man. The laugh to/through tears part is there are many who believe it.
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214881

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dharmabum wrote:
I had to smile...

“The only time that I use the state,” one financier worth an estimated £500 million confided in me recently, “is when my driver drives on public roads from the City to my country estate. I don’t like it, but I can’t help it.”

I feel for him... :(

This was the bit that stood out for me - the financier is either lying, naive or just plain thick. I think I'm starting to tend towards anarchism in my thinking to be honest - the state and the advantages and protections that it confers on these people are surely the main reason why they can make such money in the first place.
I'm wondering why we should let the state give these advantages and then hope that it then taxes and distributes fairly when we could just stop the advantages in the first place?

It's the state that reinforces the notion, for example, that we can 'own' land and so forces us to go to some fat financier who the state has also decreed can lend us 'money' to buy the land. Meanwhile we work for 25 years to support these illusions while the financier has done nothing.
“Civilised life, you know, is based on a huge number of illusions in which we all collaborate willingly. The trouble is we forget after a while that they are illusions and we are deeply shocked when reality is torn down around us.”

J.G. Ballard
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214952

  • Redglass
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Of course, if he was living in a cob house in the middle of a wood, off-grid, that would be disgusting and people would be whining on the Daily Mail site about him not contributing to society (we don't use 'the state' in that context,it's always 'society'). He might even believe this shit. It would make him feel better, and that's a big incentive.
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214953

  • Mr Livered
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Funny you should say that Redglass, I've just got back from a day course in cob making - we built a little wall in Dartmoor.

I'd love to be disgusting whilst living in a cob house in the middle of a wood, off-grid. Sounds pretty damn good to me. Better than sitting in the back of a car, ruminating smugly whilst being whisked along motorways, anyway.
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Re: What the rise of the superich is doing to us. 2 years 7 months ago #214956

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Cob is a lovely idea but I've heard that despite being a traditional English method, it's hard to do in our damp climate (well, what used to be our damp climate) because it needs too long to dry out. Is there any truth in this? Were there people there who were building/living in cob houses?
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