It is a fact that multi-millionaires pay too little in tax in the UK and many other countries. This is not just because some of them cheat the system, although that is undoubtedly true. The problem is instead that the tax system of the UK is simply not designed to tax multi-millionaires as much as it taxes many who have to work for a living to make ends meet.
The problem is not just with a single tax. As I explore in this video, the problem ranges over a whole range of taxes, from income tax, to VAT, and from national insurance to inheritance tax. All of these taxes are stacked in the favour of the multi-millionaire. All these taxes need reform if multi-millionaires are to pay their fair share of taxes in the UK. In this video I explain the scale of the problem.
This is the second in a series of videos, the first of which is here.
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I don’t understand money. With your help I will get an inkling of how it works, thank you.