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Inequality in the UK 20:48 - Dec 3 with 1557 viewsHerbivore

Pretty shocking figures, the wealthiest six people in the UK control as much wealth as the poorest 20% - around 13m people. Six people having as much wealth as 13m people combined. It's not really trickling down much, is it?

https://amp.theguardian.com/news/2019/dec/03/uk-six-richest-people-control-as-mu

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Inequality in the UK on 20:51 - Dec 3 with 985 viewsBlueBadger

Yes, but if we ask them to pay slightly more tax it'll RUIN the rountry.

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Inequality in the UK on 20:51 - Dec 3 with 985 viewsGeoffSentence

Trickle down is a big lie.

In the 38 games in which ALB played in goal for us, we averaged 1.53 points per game which, had they been over the course of a single season, would have seen us challenging for the play offs. This at a time when we were otherwise struggling against relegation. Oh, and didn't Mick Mills have terrific posture.
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Inequality in the UK on 20:51 - Dec 3 with 981 viewsBlueBadger

Inequality in the UK on 20:51 - Dec 3 by GeoffSentence

Trickle down is a big lie.


Something is running down on most peoples' heads, but it's not cash...

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Inequality in the UK on 20:53 - Dec 3 with 971 viewsBloomBlue

The Hinduja brothers give millions to help the poor in India so obviously it is.
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Inequality in the UK on 20:56 - Dec 3 with 959 viewsHerbivore

Inequality in the UK on 20:53 - Dec 3 by BloomBlue

The Hinduja brothers give millions to help the poor in India so obviously it is.


They could give away about £11.8bn and still be fabulously wealthy.

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Inequality in the UK on 20:59 - Dec 3 with 944 viewsBloomBlue

Inequality in the UK on 20:56 - Dec 3 by Herbivore

They could give away about £11.8bn and still be fabulously wealthy.


I'm not 100% sure if the total amount but over the last 20 years its definitely into the billions the amount they have given to help the poor in India
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Inequality in the UK on 20:59 - Dec 3 with 947 viewsblueislander

Inequality in the UK on 20:51 - Dec 3 by BlueBadger

Yes, but if we ask them to pay slightly more tax it'll RUIN the rountry.


Unfortunately, if we ask them to pay a lot more tax, they will just b-gger off , and we will get nothing from them. There is a balance to be struck. Here in Guernsey the thoughts are that if there were to be a UK government led by Corbin there would be a very substantial number of people looking to seek residence here.
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Inequality in the UK on 21:00 - Dec 3 with 944 viewsBlueBadger

Inequality in the UK on 20:53 - Dec 3 by BloomBlue

The Hinduja brothers give millions to help the poor in India so obviously it is.


https://en.wikipedia.org/wiki/Trickle-down_economics#Criticisms

If the income share of the top 20 percent (the rich) increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20 percent (the poor) is associated with higher GDP growth.

Src: http://www.imf.org/external/pubs/cat/longres.aspx?sk=42986.0

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Inequality in the UK on 21:01 - Dec 3 with 933 viewsHerbivore

Inequality in the UK on 20:59 - Dec 3 by BloomBlue

I'm not 100% sure if the total amount but over the last 20 years its definitely into the billions the amount they have given to help the poor in India


Hasn't really helped. The system is broken and they are a part of it.

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Inequality in the UK on 21:03 - Dec 3 with 920 viewsBloomBlue

Inequality in the UK on 21:01 - Dec 3 by Herbivore

Hasn't really helped. The system is broken and they are a part of it.


So what's the answer stop them giving money to foreign countries?

They also employ thousands of people, that should be applauded
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Inequality in the UK on 21:06 - Dec 3 with 906 viewsBlueBadger

Inequality in the UK on 21:03 - Dec 3 by BloomBlue

So what's the answer stop them giving money to foreign countries?

They also employ thousands of people, that should be applauded


Perhaps they should try paying those people a living wage?

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Inequality in the UK on 21:09 - Dec 3 with 889 viewslongtimefan

Inequality in the UK on 20:56 - Dec 3 by Herbivore

They could give away about £11.8bn and still be fabulously wealthy.


I suppose the obvious question is how much tax do these people pay in the UK? The article doesn’t mention that.
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Inequality in the UK on 21:10 - Dec 3 with 888 viewsBloomBlue

Inequality in the UK on 21:06 - Dec 3 by BlueBadger

Perhaps they should try paying those people a living wage?


And you know they don't?

You know what everyone who works for one of their companies gets paid?

I know 5 people who work in one of their companies, admittedly not very scientific, but all say they are great employers.
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Inequality in the UK on 21:10 - Dec 3 with 894 viewsNthsuffolkblue

Imagine how rich this country would be if all those lazy scrounging 13M worked as hard as those 6 people have done to get where they are.

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Inequality in the UK on 21:13 - Dec 3 with 872 viewsblueislander

Inequality in the UK on 21:10 - Dec 3 by Nthsuffolkblue

Imagine how rich this country would be if all those lazy scrounging 13M worked as hard as those 6 people have done to get where they are.


This thread ain’t gonna last for long after that post
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Inequality in the UK on 21:17 - Dec 3 with 855 viewsitfcjoe

Inequality in the UK on 21:00 - Dec 3 by BlueBadger

https://en.wikipedia.org/wiki/Trickle-down_economics#Criticisms

If the income share of the top 20 percent (the rich) increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20 percent (the poor) is associated with higher GDP growth.

Src: http://www.imf.org/external/pubs/cat/longres.aspx?sk=42986.0


People with less money tend to spend what they have, give a minimum wage worker an extra £1000 and it will go into the economy, not into a tax haven

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Inequality in the UK on 21:19 - Dec 3 with 842 viewsHerbivore

Inequality in the UK on 21:10 - Dec 3 by BloomBlue

And you know they don't?

You know what everyone who works for one of their companies gets paid?

I know 5 people who work in one of their companies, admittedly not very scientific, but all say they are great employers.


You don't accumulate that level of wealth without exploiting people and probably governments at some point. Look at Bezos, the guy sh!ts money whilst his staff are living in tents and needing in work benefits just to survive. By definition if you accrue that much wealth from the labour of others you're exploiting them. I suggest reading what Marx has to say about the concept of surplus value, it's interesting stuff.

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Inequality in the UK on 21:21 - Dec 3 with 833 viewsblueislander

Inequality in the UK on 21:17 - Dec 3 by itfcjoe

People with less money tend to spend what they have, give a minimum wage worker an extra £1000 and it will go into the economy, not into a tax haven


You do realize that UK citizens that hold income producing assets in virtually every jurisdiction in the world pay The same amount of tax on it as if they held the assets in the UK.?
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Inequality in the UK on 21:30 - Dec 3 with 804 viewsBloomBlue

Inequality in the UK on 21:10 - Dec 3 by Nthsuffolkblue

Imagine how rich this country would be if all those lazy scrounging 13M worked as hard as those 6 people have done to get where they are.


Not sure that is going to work. But the interesting thing is 4 of those 6 were born outside the UK, one outside mainland UK and another one grew up in council house. But rather than look at how these individuals had the drive to build companies were now in the world of the politics of jealousy
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Inequality in the UK on 21:41 - Dec 3 with 780 viewsSwansea_Blue

Inequality in the UK on 21:21 - Dec 3 by blueislander

You do realize that UK citizens that hold income producing assets in virtually every jurisdiction in the world pay The same amount of tax on it as if they held the assets in the UK.?


I didn’t know anything about the brothers being talked about in this thread, the richest people in the UK apparently. It took less time than it’s taken to type this post to find out that they’re probably tax exiles.

https://www.google.co.uk/amp/s/m.economictimes.com/nri/nris-in-news/india-born-r

The most interesting thing about all of this is how people have been conditioned to slavishly defend people who avoid paying their fair share of tax. Unless all their supporters are billionaires or multi-millionaires themselves, it’s quite bizarre. Did this all start with Thatcher maybe? Dunno.

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Inequality in the UK on 21:43 - Dec 3 with 775 viewsHerbivore

Inequality in the UK on 21:30 - Dec 3 by BloomBlue

Not sure that is going to work. But the interesting thing is 4 of those 6 were born outside the UK, one outside mainland UK and another one grew up in council house. But rather than look at how these individuals had the drive to build companies were now in the world of the politics of jealousy


Politics of jealousy? Don't be so silly. Capitalism is predicated on exploitation, you either accept that exploitation entirely and don't seek to do much to redress it or you acknowledge that those who benefit most from an exploitative system should pay a significant amount back into society to compensate. Ideally you do away with capitalism altogether.

Society needs doctors, teachers, police officers etc. far more than it needs billionaire capitalists by the way and a system where the wealthiest six individuals control so much wealth whilst nurses use food banks is utterly broken.
[Post edited 3 Dec 2019 21:49]

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Inequality in the UK on 21:45 - Dec 3 with 765 viewsSwansea_Blue

Inequality in the UK on 21:30 - Dec 3 by BloomBlue

Not sure that is going to work. But the interesting thing is 4 of those 6 were born outside the UK, one outside mainland UK and another one grew up in council house. But rather than look at how these individuals had the drive to build companies were now in the world of the politics of jealousy


Sh*t defence. It’s got nothing to do with jealousy.

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Inequality in the UK on 21:48 - Dec 3 with 761 viewspatrickswell

Cheers for this, Herbivore. It'll be useful to bring up some names next time I complain about Marcus Evans and have someone either suggest that I buy the club or put up someone who can do so.
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Inequality in the UK on 21:49 - Dec 3 with 749 viewsBloomBlue

Inequality in the UK on 21:43 - Dec 3 by Herbivore

Politics of jealousy? Don't be so silly. Capitalism is predicated on exploitation, you either accept that exploitation entirely and don't seek to do much to redress it or you acknowledge that those who benefit most from an exploitative system should pay a significant amount back into society to compensate. Ideally you do away with capitalism altogether.

Society needs doctors, teachers, police officers etc. far more than it needs billionaire capitalists by the way and a system where the wealthiest six individuals control so much wealth whilst nurses use food banks is utterly broken.
[Post edited 3 Dec 2019 21:49]


But as I've already said the Hinduja brothers have already given billions to the poor in the sub continent
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Inequality in the UK on 21:50 - Dec 3 with 747 viewsblueislander

Inequality in the UK on 21:41 - Dec 3 by Swansea_Blue

I didn’t know anything about the brothers being talked about in this thread, the richest people in the UK apparently. It took less time than it’s taken to type this post to find out that they’re probably tax exiles.

https://www.google.co.uk/amp/s/m.economictimes.com/nri/nris-in-news/india-born-r

The most interesting thing about all of this is how people have been conditioned to slavishly defend people who avoid paying their fair share of tax. Unless all their supporters are billionaires or multi-millionaires themselves, it’s quite bizarre. Did this all start with Thatcher maybe? Dunno.


Rather than UK citizens , I should have specified UK resident. The Hinduja brothers will have claimed that they are actually resident outside the UK, and this will have been accepted by HMRC. You could argue that the legislation that allows this is flawed. The risk there is that they will totally withdraw from the UK , which would cause job losses , and a certain amount of lost corporation tax
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