@wtf_is.left: Should we copy the Spanish Wealth Tax? The central Spanish govt collected 630 million euros from their wealth tax - a different type to the Gary Stevenson proposal which targets assets over 10 million but runs the risk of capital flight. Local authorities managed to collect 1 billion more through the tax which proponents hail as creating solidarity in times of wealth inequality. Critics argue that it deters saving and investment in Spain, and makes it an unattractive destination for entrepreneurs. What do you think? #wealthtax #garystevenson #spain #billionaires
Wealth tax in the USA used to be 70% and that’s when the economy was doing the best
2025-08-22 12:15:15
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Voltnas :
Why are we even talking about putting taxes up, we should be looking at tax cuts
2025-08-22 17:22:18
10
Sean :
No we shouldn’t “think that too” it wouldn’t be economically damaging and you provide just as little evidence to support that as you do for neoliberals thwarting an effective wealth tax which it far more likely is
2025-08-29 09:37:15
0
RP :
Now do Switzerland
2025-08-22 12:17:48
0
Pablo :
The wealth tax in Spain also excludes your primary home. You can own a €5m house and run a €20m company and it’s outside the wealth tax.
2025-08-22 17:08:58
10
bradleynelson44 :
I feel like neither side of the argument actually finds the answer. You have the proposal of a wealth tax; you have the “they’ll all flee”; you have the “no they won’t or can’t”. Left doesn’t engage in the technical side but the right don’t want to answer the technical questions to find the appropriate solution based off the reasonable principles
2025-08-22 14:48:15
0
Leo :
Economically damaging potentially because of borders. The rich exploit borders to hoard and hide wealth from the rest of us. That’s why the billionaires bankrolled the Brexit campaign.
2025-08-22 19:22:50
3
YanB 🏴☠️ :
Then we can match the Spanish pension arrangements for UK pensioners
2025-08-22 19:26:35
1
BluenoSteel :
My hair after Labour have taxed it
2025-08-22 18:16:23
0
LogicalSpeaker :
Companies making billions of profits each year should be taxed insanely high. They’re making their profits from the people so time to give back 👍
2025-08-25 17:07:17
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culturecrush :
And what was the impact?
2025-08-22 16:14:03
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RP :
“It also highlighted other places where the introduction of a wealth tax led to little or no “wealth exodus”. For instance in Scandinavia, after wealth tax reforms, only 0.01% of the top 0.5% relocated and in the UK changes to non-dom rules in 2017 showed just a 0.02% move”
2025-08-22 12:17:37
7
molecool :
Switzerland collects about 30 BILLION annual wealth tax - you think they are broke?
2025-08-22 12:22:19
1
Sunshine Holiday :
spain is third world
2025-08-22 18:09:34
1
Stiofán :
taxing wealth is pointless , owning the means of creating that wealth should be the goal
2025-08-22 15:12:13
1
HaterTot :
Before copying a country you should first see how their economy is doing
2025-08-22 20:43:14
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LoveLaboursLost :
Spain has given up on this tax- because it raises no money. The recent increase in taxes on the lowest earners in the U.K. does raise tax. Because the poor cannot move. This idea is bonkers. It will make poor people poorer- it has happened everywhere it has been tried. I guess this is a price you are happy for others to pay?
2025-08-22 17:09:41
0
puzzelalt :
the "socialist party" is not actually socialists as they still allow private businesses.
There has not been shown much GDP impact of lowering taxes/raising them (see Kansas expirement etc.) what we have seen an impact on GDP is government spending.
2025-08-22 16:33:26
0
🇬🇧 :
We need a wealth tax but we also need to cut wasteful spending otherwise it would be worthless. ending asylum and deporting non-natives who as individuals take more than they pay in would raise tens of billions annually.
2025-08-22 16:42:26
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appleuser487995849 :
The reason why they can’t tax the rich is because if they tried , the cat would be out the bag when people learnt of the trust structures that the rich use to create their own jurisdictions that government can’t touch find or tax then those rich are named as beneficiaries of the trust so the rich onky have what’s in their pockets , everything else is in trust and out of reach of governments! Learn the structure of irrevocable common law private trust !
2025-08-22 18:18:50
1
Megakizz :
nah we should copy Dubai
2025-08-25 02:00:34
0
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