Quote:
Originally Posted by Shap
How are non doms paying nothing? Do you realize non doms are paying 15% land transfer tax when they buy properties? I don't see average worker paying that 15% land transfer or for that matter begging pay to pay their fair share of land transfer tax. Do you know non doms pay £40k a year just for non dom status? Pay nothing? Non doms add far more to the economy than you know.
Let's take the cities you mentioned.
Paris is in the shits. Real estate prices have dropped. Why? Because Hollande drove the rich out of france and right into the UK.
Barcelona... Not struggling? You want london to be more like Barcelona?
New York... that's the only fair example you gave. The problem is New York is the center of business for the US. The US is far bigger than the UK so naturally the business center for it will be far bigger. London is the size it is today because of the favourable rules it has in place. It encourages the richest europeans to keep their money in the UK. It is the safest place to have your money in Europe. The banking industry is huge in London because of the policies in place.
You remove the policies in place that attract money to the UK and you risk really messing with the economy.
What would happen if ireland decided to all of a sudden tax the shit out of all the tech companies set up there. You think the companies would say "ahhh you know what you are right let me pay my fair share. I'm in Ireland because this is a great country." lol hell no. They'd be on the first flight out of ireland and never look back.
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they pay £30k if they've lived here for 7 years, lol, they are welcome to pay tax like everyone else that lives here if they prefer. for many i'm sure that £30k is nothing compared to the tax that would have been liable to pay.
also a lot of these nondoms were born here and have lived here all their life, but becuase they have a foreign father they can avoid paying tax. that's ridiculous and even uyo.
you seem to be under the illusion that london is a succesful city only because of this tax rule. for starters london is one of the great citys of the world and people want to live there, for everything that it has to offer. london is also the financial hub of europe and much of the world for many financial services - just as NY is. there's plenty of wealthy people that do live in london and still pay their fair share of taxes. ecconomists are undecided as to how much the country would gain or lose if this rule was removed, some would go and some would stay and pay.