Comment on A UK headline wealth tax? It may be simpler to put up existing taxes

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deadcatbounce@reddthat.com ⁨1⁩ ⁨week⁩ ago

The 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:

  1. Having taxes at low levels for everyone generally.
  2. 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.

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