zlacker

>>fortra+(OP)
Does London need the Global Rich hanging around if they’re not willing to pay taxes? Is it necessary to have the tax bring in 30 Billion in order for it to be considered a success? If nothing else, this tax demonstrates to those who DO pay tax, that the Government is willing to treat earners equally and fairly, regardless of how much tax it brings in.

>>mickga+92
If they're here they tend to spend money, and employ people. That all ends up as tax slightly more indirectly.

>>trebli+N3
So what you are saying is, it eventually trickles down?

edit: The reality is they don't spend enough for it to offset the harms that wealth inequality brings.

I know a couple of people who have been using this London loophole as a way to avoid paying taxes anywhere at all. They are not residents here, they are not residents there, and their income is earnt globally. So they think they shouldn't have to pay tax to any particular country.

>>cam_l+d9
>edit: The reality is they don't spend enough for it to offset the harms that wealth inequality brings.

source? Has "the harms that wealth inequality brings" even been quantified?

>>gruez+id
Yes, and London is a case point for it: the affordability of housing. Anyway, I don't even need to trawl for links, https://en.m.wikipedia.org/wiki/Effects_of_economic_inequali... has plenty.

>>jemmyw+Hh
>the affordability of housing

If you're trying to imply the housing shortage only exists because rich people have too much money and are making prices too high for everyone else, that doesn't make much sense. If everyone had the same amount of wealth, you'd still have the same housing crisis. Specifically, there's still going to be the same amount of houses in London, and the same amount of people who want to live there but can't. The problem of housing in London is that there isn't enough for everyone who wants to live there, not that the rich are making prices unaffordable.

>>gruez+bo
Both of these things are true. London doesn't build enough but rich people are sitting on supply and raising prices. London needs to build more houses as well as prevent people from turning them into Airbnbs or investment properties.