This question was asked as the heading for a head to head debate in this months Economia magazine. Economia is the magazine of the Institute of Chartered Accountants in England and Wales. In that article, on page 11 of the magazine, I was pitted against Stephen Herring of BDO, with whom I had already debated earlier this year, on line. My argument was as follows. See the magazine for what he had to say:
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Unfortunately, or perhaps fortunately, our computer was unable to download Stephen Herring’s response to your well supported case. Which may be just as well as the PSG places little reliance in the ICAEW or its magazine Economia
Stephen Herring’s attitude is sadly typical of those that have done well out of cheating society. They don’t realise tax is a dividend to society to reward it for educating, keeping safe and keeping healthy a company’s customers, workers and suppliers, who are key to making it successful, and tax pays for infrastructure, security and a legal system to enforce property rights. Richard is absolutely right and it’s time the very wealthy and/or cheats realised they did not get rich on their own