3 ms·

This is much ado about nothing, as a famous Brit once said. The UK could also become a monarchy again, or it could try to invade France. This is crazy agenda-d

This is much ado about nothing, as a famous Brit once said. The UK could also become a monarchy again, or it could try to invade France. This is crazy agenda-driven speculation that belongs on Breitbart or DailyKos, not Hacker news.

alistairSH 10y ago
And what's a "tax haven for the rich?" You know why there are no "tax havens for the poor?" Because they don't pay taxes. Poppycock. The poor pay plenty of taxes... sales tax/VAT, SSI/employment tax, property tax (on cars, in some areas). You know exactly what is meant by "tax haven". Playing semantic games doesn't make the practice of shifting wealth to avoid taxes any less unsavory, even if it is legal.
- deleted 10y ago
  [deleted]
- vixen99 10y ago
  Many UK citizens have an ISA which is a special account devised by the UK government, exempt from income tax and capital gains tax on investment returns. In other words, it allows you to shift wealth to avoid taxes. Is this unsavory? Hate to keep repeating it but everybody arranges their affairs to minimize their tax bill thereby avoiding tax. It's not only legal, it's sensible. The government sets the rules (and changes or repeals them if it wishes) and good citizens obey them to the letter. If there's a highly devious suspect scheme afoot to minimize tax, the courts are there to examine it and make a judgement; if it is deemed to be tax evasion then serious consequences will and should follow.
  - alistairSH 10y ago
    Are those accounts tax exempt, or tax deferred? The equivalent in the US is called a 401k, which is just tax deferred. Still shifting wealth, so I suppose we're talking shades of gray. Anyway, I'd just as soon do away with market-distorting tax code like tax-advantaged retirement accounts, mortgage interest deductions, etc and just lower the marginal rates accordingly.

3 ms·

This is much ado about nothing, as a famous Brit once said. The UK could also become a monarchy again, or it could try to invade France. This is crazy agenda-d

by FuturePromise 10y ago

alistairSH 10y ago
And what's a "tax haven for the rich?" You know why there are no "tax havens for the poor?" Because they don't pay taxes. Poppycock. The poor pay plenty of taxes... sales tax/VAT, SSI/employment tax, property tax (on cars, in some areas). You know exactly what is meant by "tax haven". Playing semantic games doesn't make the practice of shifting wealth to avoid taxes any less unsavory, even if it is legal.
- deleted 10y ago
  [deleted]
- vixen99 10y ago
  Many UK citizens have an ISA which is a special account devised by the UK government, exempt from income tax and capital gains tax on investment returns. In other words, it allows you to shift wealth to avoid taxes. Is this unsavory? Hate to keep repeating it but everybody arranges their affairs to minimize their tax bill thereby avoiding tax. It's not only legal, it's sensible. The government sets the rules (and changes or repeals them if it wishes) and good citizens obey them to the letter. If there's a highly devious suspect scheme afoot to minimize tax, the courts are there to examine it and make a judgement; if it is deemed to be tax evasion then serious consequences will and should follow.
  - alistairSH 10y ago
    Are those accounts tax exempt, or tax deferred? The equivalent in the US is called a 401k, which is just tax deferred. Still shifting wealth, so I suppose we're talking shades of gray. Anyway, I'd just as soon do away with market-distorting tax code like tax-advantaged retirement accounts, mortgage interest deductions, etc and just lower the marginal rates accordingly.