Cameron family fortune made in tax havens

[Slacker]

David Cameron has described tax avoidance as being morally repugnant. It's good to see that he learnt such a strong ethical awareness when he studied at Eton College, registered charity number 1139086.

[Pete]

>> Can you all honestly say that you have never accepted perfectly legal advice from those accountants as to ways to keep your tax bill down and retain more of your income?

Not me! I'm such a crap businessman I almost expect them to give me money... 

[chesterfieldchris]

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[Slacker]

We would all like to pay less. The majority of us on PAYE don't have that option. If the rich paid their fair share the basic rate could be reduced for the rest of us.

[chesterfieldchris]

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[Pete]

If the world is on the verge of economic catastrophe as the powers that be keep telling us, then this is like two people arguing over a lifeboat as the Titanic gracefully slides under the sea.

[Slacker]

This "fair share" line gets trotted out everywhere.  As above - what would you consider "fair" for these rich?  They already have an income tax bracket of 50% over a certain threshold.  Even if I pay myself totally in dividends, put shares in my wifes name and use her tax allowance; after corporation tax, NI as an employer AND employee, my overall tax rate is over 50%.

Is it "fair" that some people have to hand over more than half their income, when people who earn less only hand over 20% or even zero? 

Hows about everybody pay 50% of their income in tax, would that be "fair", or is this fairness that people seek only a one way street as long as its those that are "rich" being hit?

What about the ones who set themselves up as businesses and pay 1% ?

[chesterfieldchris]

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[therealjr]

Isn't the idea that the company 'lends' money to its owners, safe in the knowledge of course that it never has to be paid back?

[Slacker]

Something like that I believe. Jersey based, called K2 scheme.

[chesterfieldchris]

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[Slacker]

Everyone needs so much to live on food, rent / mortgage / utilities etc. For some this is probably 90% of their take home pay for others it is probably only 20% of their take home pay. Would it hurt them to pay a bit more tax so the essentials cost them (say) 40% of their take home pay so the lower paid could have a bit more for a few luxuries?

[chesterfieldchris]

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[Pete]

No disrespect Chris, but I generally refer to the disgustingly rich - those that have billions.

No need to be so defensive, I largely agree with you.

[chesterfieldchris]

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