Comment on A UK headline wealth tax? It may be simpler to put up existing taxes
deadcatbounce@reddthat.com 1 week agoThe wealthy have the resources and access to professionals not to pay tax. So they don’t.
I agree that they should pay tax, but they don’t. It is how it is.
There are two main things that seem to work:
- Having taxes at low levels for everyone generally.
- After a two or sometimes three generations, the wealth is frittered away by overindulged great-great-grandchildren. Sometimes they are so wealthy, well-educated and taught to wealth preserve that that doesn’t happen.
Source: I studied accounting at accountant which specialised in extremely wealthy families. My own beginnings are very humble.