The Super-Rich and Us

I have seen the programme and very much enjoyed hearing the various economic theories. Unfortunately I think people may have only been attracted to the programme to see how the other half live. I lost some credence in the main presenter when he had the £300 gold and caviar facial why did he need to do that rather than just report on it as he clearly thought it excessive. As to your question I will place my vote as a Labour supporter in the general election and hold my breath.

I agree Teetime but I tend to listen rather than watch quite a bit so managed to cut a lot of the nonsense (IMO) out.

I think there will be a lot of people putting their cross and holding their breath as things are at the moment. I just wish, and it would have to Labour really, a party would come out and say that they were going to look at the vast capital assets these people have. So far all we have is a watery Mansion Tax on offer.

I watched it.
This is one reason we have to stay in Europe and go along with the country by country taxing, and get the big companies and expats to pay their taxes in this country.

www.taxresearch.org.uk/Blog/2015/01/09/a-tax-vision-for-2015-and-beyond-the-practicalities/

I am always linking to taxresearch but he is doing a good job in holding governments to account and has managed to change the views of some of those who matter.
They have also set up the fair tax mark. It makes interesting reading. If we want fair tax, we need to vote with our feet.
Energy, for example. SSE has the fair tax mark, which means it does not try to pay less than it should. So anyone using any of the other big six who believes in fair tax should change to SSE.

the one thing that stuck in my mind while watching this program was a certain Gordon Brown stating before he became chancellor that something must be done about non-doms / tax exiles - and what did he do - nothing so lean towards Labour if you must but look at their record as well.

Er, and what have the Tories done about them? Given them more tax breaks?

The good thing about a mansion tax, grace, is that you cannot move a mansion. They can move their money.

Its not a matter of leaning towards Labour for me or looking at their record its a question of belief and ideology. I have always been a Socialist and that's what I vote and hope for Socialism.

I actually think the majority vote by their own ideology Teetime and mine would not put me in the Labour camp. I am a Social Democrat by nature and there are some things that the Labour party has not backed (PR for one) that would encourage me not to vote for them.

I have just heard a quote from Ed Miliband saying that they don't want the economy to work "just for those at the top". I have a more anti-capital view than this; I don't really mind what people earn as long as it is properly taxed. (I do have a few caveats re that but won't go into detail here). Perhaps I am actually more socialist than labour is as they used to believe that capital made barons and worked against the working man.

Currently so much is so bad both in the economy and socially that I do feel the need to wait and see if any of the parties "get it".

I think the NHA get it.

nhap.org/cameron-has-torpedoed-his-own-mantra-linking-strong-economy-and-strong-nhs/

durhamjen I did not mention the Conservatives - I was talking about Gordon Brown and his clear lack of following up his promises (just one of many) - my opinion based on facts.

knew I should avoid the political threads - I cannot believe anyone would lean let alone incline towards the Labour party (who are not true socialists) given the mess they made of the economy and our world standing - but that is just my opinion

I know you did not mention the Conservatives, Mollie, but I did.
This country has been run by two major parties over the last thirty years.
David Cameron told us just last week that the NHS is safe in his hands. What happened to that promise? Safely in the hands of his rich Tory friends?

knew I should avoid the political threads - I cannot believe anyone would lean let alone incline towards the Labour party (who are not true socialists) given the mess they made of the economy and our world standing - but that is just my opinion

Indeed it is Mollie and we have just found out how important the freedom to hold an opinion that differs from another's is for everyone

I found the programme interesting. The shrinking middle class worried me. I see myself as middle class. I'm most certainly not super rich but feel I'm being taxed to extinction. Income tax, council tax, VAT etc l. My state pension goalpost was moved 6 years at extremely short notice with no tapering. I was one of the unlucky ones- born 3 weeks too late. 10 years without a pay rise. Its a race to the bottom. How can we get the super rich and the financial services which sustain them to cough up? No party seems to offer a realistic solution

I did know that we seem to be moving into an hour-glass society with the hollowing out of mid-range jobs but had not put it together with this meaning those values of the so called middle classes, many of which have stabilised us over the years, would disappear in the process.

It is the replacement of labour by capital that is causing this Jane10. Originally it was thought the technological revolution would replace the lowest waged jobs but, of course, those continue to exist (so far). I am not anti technology by any means but if you are going to destabilise our society you should be prepared to pay something towards making it a place everyone can live in.

I was impressed by the man in the programme who said that he earns 1000 times as much as the average person but doesn't have 1000 houses or cars etc. He demonstrated so well how "trickle down" just doesn't work. Super rich- PAY UP!

How do you describe the super-rich though? Where is the threshold?

We may all have a different idea of where the bar should be.

Multi millionnaires?

I didn't see the programme, but I certainly wouldn't vote labour as a result. It was Peter Mandelson, a labour politician who said that a 'Labour government was intensely relaxed about people getting filthy rich'

Rather than taxing the super rich, as France has found out, that doesn't work they just migrate, why not give tax breaks companies that do not have executives earning more than a certain multiple of the average wage of all employees or pays profit related bonuses to all staff on a percentage of pay basis rather than awarding huge bonuses to senior staff for performance. This is what leads to the kind of cheating and fraud we have seen in the banking sector.

No, Flickety, that just sets up another system. They tried to tax the bankers bonuses, so they just moved bonus to pay and paid less tax because the government does not want people who earn millions to pay more tax.
Rich people have had tax breaks from this government. The programme was about the fact that trickle down does not work because the rich do not spend money in this country. It's the poor who need better pay and tax breaks, so they have more money to spend in this country. Spending money keeps the economy going, not sending it to off-shore tax havens. Because our tax rates are so low, we have become an off-shore tax haven. I find that quite ridiculous.