Josh Thomas
Region: GB
Wednesday 22 July 2026 16:26:04 GMT
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Barrie :
oh well lets just let millionaires become billionaires and trillionaires then.
2026-07-23 11:42:40
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udi42069 :
They can borrow money against their wealth to pay it, just like they can borrow money to fund their daily life.
2026-07-23 13:09:54
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james43965 :
Them leaving, means that they leave an opportunity for someone to take their place. If a founder of a business completely leaves the Uk you can just have others take their place willing to stay.
2026-07-23 08:18:57
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Dannii✨ :
but these billionaires can use these assets to purchase things when it suits them i.e Elon Musk using his Tesla stocks to buy twitter
2026-07-23 08:27:48
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Gburnett8 :
So the issue is that they leave? Ok, then what about an exit tax then like they have in Norway?
2026-07-23 12:39:49
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Mick Nulty :
yes but they can borrow because they have this 'money' and they buy assets with this borrowed money. Its a constant job. They should sell up. you're not fooling us
2026-07-23 00:23:38
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Gary McKay :
if you can borrow agaisnt it its liquid and should be taxed
2026-07-23 06:25:32
18
Dysprosium :
Oh no, its a bit hard, they might have to sell things! The horror!
2026-07-23 05:53:42
15
Mike de Mac :
Gary Economics is equivalent of Ford Focus trying to compete in a F1 race.
2026-07-23 05:20:19
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ifnotnowchris :
“I own an advisory firm that works with the exact founders that this would effect..” I’m out 🤣
2026-07-23 07:44:29
6
Leo Harrison :
Man who gets paid to help the rich hide their money thinks a wealth tax won’t work….shocking.
2026-07-23 05:17:55
9
Alan :
"iTs nOT liQuID" give this guy a medal. Not sure I've heard this argument before over the last 50 YEARS!!! I wonder if anyone has come with several solutions to this???
2026-07-23 09:59:24
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Anon242 :
What I’m hearing is that lots of houses will suddenly be for sale. Pop quiz! What happens to the price of something when its supply increases?
2026-07-23 06:18:55
6
warpcode :
if you can borrow against an asset, you can pay tax on an asset
2026-07-22 21:30:30
13
Dad With Depression :
if they can leverage those assets to raise finance they can leverage it to pay some tax on it
2026-07-22 20:05:13
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JamiesWorld :
Maybe we can start a GoFundMe for those poor folks with £100m in assets?
2026-07-22 21:11:34
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stuffydude :
or they sell their assets that they're hoarding. that's the whole point.
2026-07-22 22:06:30
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bookled0 :
Well then, let them sell the asset then if they can’t afford it
2026-07-22 21:48:17
5
Smasshed :
so you understand the point. they have to sell assets to pay their tax bill, or pay themselves a wage that attracts tax. and the whole point of being rich is to live where you want, so nobody is leaving for the sake of 2% of their wealth.
2026-07-22 19:53:36
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kgc152 :
Chances are if they sold shares to pay their tax bill, they’d also incur capital gains as well.
2026-07-22 20:28:33
5
anyname127 :
Gary (for someone who “claims “ was City Banks most profitable trader) has appalling economic naïveté. He has a real chip on his shoulder about wealth (and of course, calls for a wealth tax on wealth ABOVE his own level). Wealth taxes are almost impossible to administer and calculate (what is a business worth ? What is a farm worth ? Etc etc) . Wealth taxes have not worked effectively ANYWHERE, and nearly everywhere that’s tried it has abolished it. He needs to get the chip off his shoulder and propose things that have a chance of being relevant , like growing the economy and focusing on how the government pisses all our money up the wall.
2026-07-22 21:12:14
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JC82 :
So they shouldn’t be able to borrow against debt and they should be taxed on any profit from that assets then
2026-07-22 19:09:54
6
User User :
That’s the issue though isn’t it. “That they’ve already paid 25% on it”. I pay 45-60% tax on my earnings
2026-07-22 20:06:58
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Ash :
My house isn’t liquid and they council tax me on that soon to be a property tax and I’m sure they’ll collect that too. Seems to me I’m the only who miraculously has the liquidity to pay tax and I’m broke af!
2026-07-23 04:19:20
5
appleuser8547861 :
if the super rich didnt do everything they could to avoid contributing then things like this wouldnt be considered. They bring it on themselves
2026-07-23 05:09:09
5
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