Wealth creates monsters www.youtube.com/watch?v=b1vFgUi4frU
This is another from Barry Ferns and, as usual is looking at the socio and behavioural economics of inequality. If you are short of time these are the "chapters"
00:00 - Introduction: The Elephant in the Room
02:04 - Part One: Power Rewires the Brain
03:30 - Part Two: The Empathy Gap and Isolation
05:19 - Part Three: Moral Licensing
08:13 - Part Four: Structural Impunity
10:50 - Part Five: Manufacturing Vulnerability
12.54 - Part Six: The Epstein Economy
15:53 - Stand-up Comedy Relief
GrannyGravy13
Unfortunately MaizieD going belly up and restarting with different family members as directors/owners is a common occurrence.
No Government has taken steps to prevent this to my knowledge.
New companies should get proper scrutiny, a full audit every 6 months until they are proved legal.
It might stop genuine no fault failures too.
David49
GrannyGravy13
Unfortunately MaizieD going belly up and restarting with different family members as directors/owners is a common occurrence.
No Government has taken steps to prevent this to my knowledge.New companies should get proper scrutiny, a full audit every 6 months until they are proved legal.
It might stop genuine no fault failures too.
The cost of this would be prohibitive and out of proportion to the extent of the problem. Real crooks do not even set up companies legally, they jsut present themselves as a company and relie on customers not checking.
Do the billionaires in the uk not use off shore accounts so they don’t have to pay tax? I really don’t know but I would imagine they do. Cynically I tend to think many of these people have lied and cheated their way to wealth and that is how they got it in the first place. Ruthless intelligent scheming .
nanna8
Do the billionaires in the uk not use off shore accounts so they don’t have to pay tax? I really don’t know but I would imagine they do. Cynically I tend to think many of these people have lied and cheated their way to wealth and that is how they got it in the first place. Ruthless intelligent scheming .
I think that is avery unjust judgement on people who have great ideas that take off. Bill Gates, James Dyson came up with a good idea: Microsoft and a different type of vacuum cleaner, and many others too many to name. They were aall good business men and kne how to drive a hard bargain, but to say they all lied and cheatedn their may to wealth is a gross calumny.
nanna8
Do the billionaires in the uk not use off shore accounts so they don’t have to pay tax? I really don’t know but I would imagine they do. Cynically I tend to think many of these people have lied and cheated their way to wealth and that is how they got it in the first place. Ruthless intelligent scheming .
Why are only 100 people paying more than £11m in tax when the UK has 156 billionaires? Why are there some individuals worth over £10billion nowhere to be seen?
This year’s list reveals something else: one in nine of the top taxpayers live abroad (many in low‑tax jurisdictions).
taxjustice.uk/blog/where-are-all-the-billionaires-on-the-tax-list/
Allira
nanna8
Do the billionaires in the uk not use off shore accounts so they don’t have to pay tax? I really don’t know but I would imagine they do. Cynically I tend to think many of these people have lied and cheated their way to wealth and that is how they got it in the first place. Ruthless intelligent scheming .
Why are only 100 people paying more than £11m in tax when the UK has 156 billionaires? Why are there some individuals worth over £10billion nowhere to be seen?
This year’s list reveals something else: one in nine of the top taxpayers live abroad (many in low‑tax jurisdictions).
taxjustice.uk/blog/where-are-all-the-billionaires-on-the-tax-list/
They pay little UK tax because the money is held as business capital and property, tax is only due when you sell an asset.
The 2 that most have heard of is Jim Ratcliffe (INEOS) and Antony Bamford (JCB) their wealth is the valuation of their companies, not cash. Like your home it can't be spent, until it's part or all is sold it doesn't get taxed
The companies pay Corporation Tax in the normal way but personal tax is modest. Much of their social life is tied to the business, maintaining contact with investors and customers, sponsoring others. Only a billionaire can sponsor Man Utd, all sports clubs have wealthy sponsors, even your town football or rugby club will have sponsors.
Allira
nanna8
Do the billionaires in the uk not use off shore accounts so they don’t have to pay tax? I really don’t know but I would imagine they do. Cynically I tend to think many of these people have lied and cheated their way to wealth and that is how they got it in the first place. Ruthless intelligent scheming .
Why are only 100 people paying more than £11m in tax when the UK has 156 billionaires? Why are there some individuals worth over £10billion nowhere to be seen?
This year’s list reveals something else: one in nine of the top taxpayers live abroad (many in low‑tax jurisdictions).
taxjustice.uk/blog/where-are-all-the-billionaires-on-the-tax-list/
The fact that once the excessively wealthy have the wealth, which is our money which they have mostly acquired from either state contracts or us, the consumers of their product, they can move it to low tax jurisdictions is why I repeatedly say that we should act to modify the acquisition of that wealth, not try to tax it once it exists.
M0nica
David49
GrannyGravy13
Unfortunately MaizieD going belly up and restarting with different family members as directors/owners is a common occurrence.
No Government has taken steps to prevent this to my knowledge.New companies should get proper scrutiny, a full audit every 6 months until they are proved legal.
It might stop genuine no fault failures too.The cost of this would be prohibitive and out of proportion to the extent of the problem. Real crooks do not even set up companies legally, they jsut present themselves as a company and relie on customers not checking.
£46 billion pays for a lot of audits
I should point out to Monica that I never said all millionaires are dishonest users. But quite a few are. I know that from personal experience in the past. You know, gaslighting is very irritating but I suppose it goes with online stuff. Not in my real life, thank goodness and I can honestly say not a single one of my friends would twist my words.
I looked up yesterday how he made his money, tbh it all sounded dodgy, no formal qualifications ( he dropped out of college) yet he seemed to climb ladder and "helped" people with their finances and recover money lost by financial firms. Multiple people seemed to trust him with their finances and he seemed to have the ear of the rich in many countries. It does make you think.
petra
It has long been known that up to 10% of bankers / financial services workers are psychopaths.
www.aru.ac.uk/news/psychopaths-prepared-to-spark-financial-crisis-for-profit#:~:text=Since%20I%20began%20researching%20corporate,people's%20money%2C%20has%20gained%20traction.
Can I yet again recommend the BBC series Industry that, if you can see beyond the rather pornographic element of it exposes the lives of people working in high finance. Having got to series 4 things that I found implausible before the Epstein files became more public now make sense. Whoever wrote it knows that world very well and it’s a world most of us can’t comprehend.
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