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And in 2021, Musk paid $11 billion.Musk paid In 2015, $68,000 in federal income tax. In 2017, it was $65,000, and in 2018 he paid no federal income tax.
Is beyond ridiculous
That was a large one off federal tax bill after he bought shares which were due to expire the following year, he received something like $24billion in taxable income. Outside of that he pays a pittance in federal taxes considering his wealth.And in 2021, Musk paid $11 billion.
Yep fair enough, just been thinking how it would be to move back to London, where wages are lower and tax more than double and the thought is depressing.Depends how much tax you pay and how rich you are really. For the duke of Westminster it's wrong. For Amazon it's wrong. For you, maybe.
Legally doesn't make it right. Specially when the legality is lobbied to favour the rich. And tax avoidance, as much as is legal, it goes against the spirit of the law that is written for tax planning like the examples that you mentioned
Rich and corporations abuse the system and loopholes and often times they create these loopholes. Is legal but is damn wrong. Why I have to pay 15-20% a year while Musk paid In 2015, $68,000 in federal income tax. In 2017, it was $65,000, and in 2018 he paid no federal income tax.
Is beyond ridiculous
Agree with all of that tbh. Though a portion of the Caf has very different views to be on what level of salary punitive taxation should be introduced though, at the risk of the bearded guy from Question Time making another appearance in this thread.Tax avoidance is exploiting rules not intended for those purposes to pay less tax and is investigated by HMRC. It is nothing like ISA’s or pensions. The abuse of non dom status is tax avoidance.
Though a portion of the Caf has very different views to be on what level of salary punitive taxation should be introduced though, at the risk of the bearded guy from Question Time making another appearance in this thread.
Yep fair enough, just been thinking how it would be to move back to London, where wages are lower and tax more than double and the thought is depressing.
Agree with all of that tbh. Though a portion of the Caf has very different views to be on what level of salary punitive taxation should be introduced though, at the risk of the bearded guy from Question Time making another appearance in this thread.
Which was a 10% of his wealth increase that year. I wish i would only pay jus 10% a year, let alone one time in my lifetimeAnd in 2021, Musk paid $11 billion.
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The fact you have to explain this shows how far people will go to criticise Labour.There’s a fundamental difference between being the Opposition Party and the Governing Party.
The likelihood is that at the end of the year we’ll have Starmer in No10 and Trump in the White House. Rules of international diplomacy dictate you have to be civil and constructive with your biggest ‘allies’.
Absolutely. The IR35 changes fecked me when I went freelance in 2020. It was really annoying, particularly when the likes of the DM and BBC had employed some staffers as freelance five days a week for 10 years to avoid paying NI and giving them full employment rights.I've been a contractor through a limited company outside IR35 and paid tax as a company. I think my effective tax rate was maybe 30% max on generally 60-75k revenue with feck all in the way of assets and tbh it felt about right to me. Which shows how scandalous the tax laws are because there are employees earning a lot less than that paying a lot more tax! When you've big companies and the ultra wealthy sometimes paying single digit tax rates it's no wonder we have to subsidise the feckers. The whole system is broken and just singling out reasonably well paid salaried employees doesn't really cut it for me. There should be some mechanism for factoring in existing wealth or something, not just a debate about income.
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I was a contractor working for Central government at the time. HMRC didn't have enough established tax experts so they used Deloitte, KPMG, PWC and Accenture to provide support. Those companies helped draft the IR35 legislation which left HMRC short of people with key skills as the contractors there were forced out. Who filled those spots? People from Deloitte, KPMG, PWC and Accenture on much more expensive day rates.Absolutely. The IR35 changes fecked me when I went freelance in 2020. It was really annoying, particularly when the likes of the DM and BBC had employed some staffers as freelance five days a week for 10 years to avoid paying NI and giving them full employment rights.
The taxing of corporations is never going to happen with a concertated international effort though and can't see that happen. Easier to go for the small man.
Same across government in other departments. I genuinely don't believe IR35 changes made any difference at all to available funds. The tax take may have gone up, but the cost of delivering government services also went up
I was a contractor working for Central government at the time. HMRC didn't have enough established tax experts so they used Deloitte, KPMG, PWC and Accenture to provide support. Those companies helped draft the IR35 legislation which left HMRC short of people with key skills as the contractors there were forced out. Who filled those spots? People from Deloitte, KPMG, PWC and Accenture on much more expensive day rates.
Same across government in other departments. I genuinely don't believe IR35 changes made any difference at all to available funds. The tax take may have gone up, but the cost of delivering government services also went up.
The fact you have to explain this shows how far people will go to criticise Labour.
Seen that he's gotten a lot of grief for meeting and doing that with Sunak. Not sure where I stand on it.
Surely the largest protest since just before the Iraq invasion? A million or so at the No Iraq War protest.
Brexit protest?Surely the largest protest since just before the Iraq invasion? A million or so at the No Iraq War protest.
The Labour Party celebrating a Tory who supported austerity for over a decade isn’t positive news imo.Oh look. Positive news about Labour. Time for Sweet Square to do his usual thing.
The Labour Party celebrating a Tory who supported austerity for over a decade isn’t positive news imo.
The Labour Party celebrating a Tory who supported austerity for over a decade isn’t positive news imo.
This is only positive news for the people on here who agree with Tory policy but dislike the Tory party.Oh look. Positive news about Labour. Time for Sweet Square to do his usual thing.
It’s for the greater good. They’re not striking out of “personal greed”, they’re striking because working conditions and pay have become so poor there is already a major shortage in staff and that effects the NHS 365 days of the year. So to strike a handful of days might get the headlines and give Tory MPs the ammo they need to throw them over the bus, the reality is that the NHS is grossly understaffed all year round and that has a much worse overall impact compared to the occasional strikes.Can I ask people here what is your opinion about NHS doctors striking?
It’s for the greater good. They’re not striking out of “personal greed”, they’re striking because working conditions and pay have become so poor there is already a major shortage in staff and that effects the NHS 365 days of the year. So to strike a handful of days might get the headlines and give Tory MPs the ammo they need to throw them over the bus, the reality is that the NHS is grossly understaffed all year round and that has a much worse overall impact compared to the occasional strikes.
Personally… absolutely, and support their right and motivation to strike.I have about 10 friends who work for the NHS (physicians and dentists) none of them like working for the NHS. Their main complain when I hear them discuss the NHS is almost always financial. But they also talk about the working conditions. I was wondering if the public acknowledge their complain.