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This is heartening!

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Lexicos

Jim
Camino(s) past & future
Camino Frances
2017
Camino Portuguese 2019
It’s very heartening to know that some people care enough to volunteer and demand higher taxes on themselves. Impressed. I wonder if government(s) will have the guts to do it and if other wealthy individuals chime in and volunteer and demand the same. That’s the test.
 

Albert_Hadacek

Young Pilgrim
Camino(s) past & future
Portugues - 2015
Norte - 2016, 2020
Frances - 2018
Well, it will be interesting to see how the goverment is gonna do it. The wealthiest people pay overall proportionally lower tax because most of their money comes from capital earnings, not their salary... If they so desperately wanted, they could give some shares to their employees...
 

OzAnnie

Veteran Member
Camino(s) past & future
'CP, Frances,Norte,Salv/prim;Le puy, Inglés, CDM, Invierno, Fin/Mux, Vdlp 2019>Táb/ Prt Levante 2020
In today’s Guardian:


Wow - an offer.. their hearts are in the right place but agreeing on how much tax increase might take a while.

Still .. it makes the expression: ‘We’re all in this together’ ring true.

I’ve got confidence that they want it to work 👏👏♥♥♥
 

Camino Chrissy

Take one step forward...then keep on walking..
Camino(s) past & future
Frances 2015;
Norte/Primitivo 2016;
Frances 2017;
Le Puy 2018;
Portuguese/FishermanTr. 2019
A very uplifting article to read, but the wheels of government most often turn slowly and most likely the remainder of the ultra rich will not concur.
 

Bristle boy

If not now...when? If not you...who?...........
Camino(s) past & future
2019
In today’s Guardian:


I had to check the date to make sure it wasnt April 1st. Then I fell about laughing at it. Most of the rich corporations and individuals became rich by their reluctance to pay tax...their altruism is like the weather...it won't last.
 

Albert_Hadacek

Young Pilgrim
Camino(s) past & future
Portugues - 2015
Norte - 2016, 2020
Frances - 2018
The topic is problematic as they would have to go into changing capital tax and if I am not mistaken, the highest tax is 20% of long term capital for people who make over 500k a year from their salaries and other sources of income. So they would have to create a special capital tax from 1M, 5M, 10M, 100M... incomes... Yet, there would be so many options for tax optimization... starting companies where you put your assets and move them outside of the US... or you just split it and you have other people taking care of it. The rich people will be always one step further as they can get an army of lawyers and find some loophole. So, at the end of the day, it's better to get at least some tax from them then letting them pay taxes in some dingy tax haven.
 

Bristle boy

If not now...when? If not you...who?...........
Camino(s) past & future
2019
Perhaps they could offset the extra (donatable) tax on their return against their reduced income and get a rebate. 🙃
 

David Tallan

Veteran Member
Camino(s) past & future
Frances (1989 and 2016), Portugues - from Porto (2018)
They could just donate NOW if they wanted. They do not need to wait for the government to take it from them. After all, it is their money, so what's stopping them?
I was thinking the same thing. But then I thought that they don't want to donate if their fellow super-rich were not donating equally. It is not just about donating their proper share. It is also about seeing that they don't "fall behind" in doing so.
 
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