{"id":50019,"date":"2020-05-21T09:32:16","date_gmt":"2020-05-21T08:32:16","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=50019"},"modified":"2020-05-21T10:09:48","modified_gmt":"2020-05-21T09:09:48","slug":"question-of-the-day-if-you-were-wealthy-would-you-be-in-favour-of-more-taxes-on-wealth-tax-and-why","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/05\/21\/question-of-the-day-if-you-were-wealthy-would-you-be-in-favour-of-more-taxes-on-wealth-tax-and-why\/","title":{"rendered":"Question of the day: if you were wealthy would you be in favour of more taxes on wealth tax, and why?"},"content":{"rendered":"<p>It's easy for most people to favour additional taxes on wealth. That is because they will not pay them.<\/p>\n<p>But suppose you were wealthy? Would you favourite additional taxes on wealth in that case?<\/p>\n<p>Warren Buffet famously does. As <a href=\"https:\/\/www.theguardian.com\/business\/2007\/oct\/31\/usnews\" target=\"_blank\" rel=\"noopener noreferrer\">he once said<\/a>, he paid a lower rate of tax than his secretary, and that's wrong.<\/p>\n<p>Evidence <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/05\/21\/capital-gains-increase-income-inequality-in-the-uk-the-time-to-align-income-tax-and-capital-gains-tax-rates-has-arrived\/\" target=\"_blank\" rel=\"noopener noreferrer\">I've noted this morning<\/a> suggests underpayment by the wealthy may well be greater than many have thought.<\/p>\n<p>I <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/04\/22\/tax-after-coronavirus-tacs-there-is-significant-room-for-wealth-taxation-in-the-uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">have come to the same conclusion<\/a>.<\/p>\n<p>So would you favour more tax on wealth if you were wealthy, and as importantly, why?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s easy for most people to favour additional taxes on wealth. That is because they will not pay them. But suppose you were wealthy? Would<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/05\/21\/question-of-the-day-if-you-were-wealthy-would-you-be-in-favour-of-more-taxes-on-wealth-tax-and-why\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[186,150],"tags":[],"class_list":["post-50019","post","type-post","status-publish","format-standard","hentry","category-question-of-the-day","category-wealth-tax"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/50019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=50019"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/50019\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=50019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=50019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=50019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}