James A. Duncan
@jamesaduncanHelping organisations reorganise to cope with the world as it is so that we can make it the way we want it to be.
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"Wealthy people can afford tax advice to avoid paying the tax" says @VictoriaAtkins Like, for example, using £ to buy land that isn't subject to inheritance tax? That kind of tax advice?
Krishnan Guru-Murthy, "This will also hit the rich land owners, won't it?" Victoria Atkins, "Well.. Umm.. My worry is.." KGM, "Why wouldn't it?" Victoria Atkins, "Wealthy people can afford tax advice to avoid paying the tax" KGM, "So give up trying to go after the super…
It is correct that there is no correlation between the earnings from a farm business and its asset value. There is, however, a correlation between its asset value and the fact that farm land ownership has been used as a tax loophole.
🧵 On farming; I like the idea of small family farms. I grew up around small family farms; many of my friends were farmers, or worked on farm equipment, so I have a lot of empathy for the and sympathy with them.
The land isn't worth so much if it can't be used to duck out of inheritance tax. The farm worth £3m today might lose a third of its value once the tax loophole is closed. Then there will be even fewer truly family run farms that fall within the IHT threshold.
I just saw a software development job advertised in the UK for between £35k & £37k. In 1998 I started my first salaried developer job in the UK. It payed £36,000 a year. Today that would be worth £79,391.39. Wage erosion in the UK is horrific.
So much this.
50 years ago, young men concerned about inflation eroding their wages would have joined a union. Today, they put all their savings in crypto and vote for tax cuts in case they become billionaires. That’s neoliberal individualism baby.
A lesson for @UKLabour: growth won't matter if all the gains go to the wealthy.
Yes, this really is @bbclaurak trying to argue that the chancellor should have given more thought to the feelings of private jet users.
Our CEO @GrahamSmith_ has written to William, challenging him to meet to discuss poverty, inequality and the monarchy's role in perpetuating these problems. The letter follows William dismissing criticism from Republic during his homelessness documentary. 👇 #AbolishTheMonarchy
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