Tag Archives: wealth

My boiling point

Yup, I have one and the Guardian pushed my button. We all have buttons that can be pushed. If you sing “It’s a cruel Summer, leaving me, leaving me here on my own” really off key to Summer Mcintosh there is a chance she’ll blow a gasket too (it is based on classical music by Ace of Base, 1992). Some dislike the limelight, others (like me) have other buttons. And there is the start for today. The article by Rupert Neate a wealth correspondent (whatever that is) is by their own submission a reporter on covering the super rich and inequality, again whatever the hell that is. But let’s look at that article (at https://www.theguardian.com/news/2023/may/29/2-tax-uk-rich-list-families-raise-22bn-year-reform-inequality) where he starts by hiding behind ‘could’ making him some clueless labor tool. The text “A modest wealth tax on the richest 350 families in the UK could raise more than £20bn a year – enough to fund the construction of 145,000 new affordable homes a year – according to research by fairer taxation campaigners” and there is the emotional useless stage. ‘Constructing 145,000 new affordable homes a year’ We will not get the equations there. We do not get locality because that pricing leaves London far outside of the scope. No his goal is limelight, to hide behind ‘could’ and emotions. Then we get “A 2% tax on assets above £10m held by all members of the Sunday Times rich list could raise as much as £22bn, according to analysis by Tax Justice UK, the Economic Change Unit and the New Economics Foundation (NEF).” And still we get no equations or justification on these numbers. We get another emotional ‘tax the rich’ by an emotional tool. And he merely ‘emotionally validates’ some Sunday Times list without justification. 

You see, lets take a look at the Guardian from June 2017 where we were given (at https://www.theguardian.com/uk-news/2017/jun/21/battersea-power-station-affordable-homes-almost-halved-by-developer ) ’Battersea Power Station developer slashes number of affordable homes’, there we see how Malaysian investors slashed 40% of the agreed affordable homes. How did that end? Nothing (and nowhere), you useless tool! Where is the prosecution of exploiting foreign investors? Where are your values there?  In my personal opinion Rupert Neate needs to buy a lollie, sit in a corner, suck on that and shut the fuck up (pardon my language). 

It is always labour minded idiots that are heralding ‘inequality’ and that is a larger problem. I am not against PROPER taxation, but these people according to taxation law paid their fair share and then some. You see in 2022 according to one source “629,000 people paid the additional rate of income tax is 45%, and is paid on earnings above £125,140 a year”, so these people already are in the 45% bracket (don’t worry I have a solution). They have paid their fair share, yet there is another matter. I am not blind to certain levels of inequality. You see fair taxation is also needed on corporations, Apple didn’t become a trillion dollar industry because of their devices. Their tax write offs are unheard of and that had to change decades ago. I wish them all their profits, yet there should be taxation. Retail Gazette gives us ‘UK Apple stores paid less than £800,000 tax despite £971.5m of sales’ did that useless wealth correspondent look at that part? And they are merely one of dozens of companies that are legally stretching the lines of taxation laws. Then we are given “Those on the rich list include the prime minister Rishi Sunak and wife Akshata Murty at number 275 out of 350, with £529m, and the 32-year-old Duke of Westminster, with £9.9bn, at number 11.” And that might be true, so did they pay their taxation? It seems Apple didn’t. And that list grows, whilst the useless people are focussed on people who paid their dues according to tax laws. You see, there is another income stream. We get so much emotional garbage from magazines and newspapers that they should LOSE their 0% VAT setting, we can set that to 6% or 10%, there is your income right there. If you cannot properly report the news, you should be taxed. You forgot about the mirror image you see when you get up in the morning. So I give you another income source. If you cannot properly do your job, you get to be taxed as well.

Issue solved!

You see, if we are to believe the HMRC, six hundred and twenty nine thousand people pay their fair share and then some. So this rich list is utter BS, I say we tax the media, lets see how long they can play games whilst letting some useless wealth correspondent continue their ‘labor’ needs. Yes, this is personal, but we see this come again and again whilst no one is doing anything about tax laws or exploiting investors. Why not? It seems that the Guardian has a few fences to mend and I suggest that they hop to it, I reckon that they could spring that 10% VAT bill, but there is a chance that they will cry like little bitches, just like they did when the Leveson report was released. 

So, they pressed my button and this was my response. So, have a nice day whilst I kill a few people in Skyrim with a bow (we all unwind in our own way), they will never know what hit them.

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Is wealth $$$?

An article threw me yesterday. It was given by the Dutch News agency NOS, it was not merely the title, it was the entire setting that threw me. So as we are considering the translated title ‘Dutch in 4th place richest citizens worldwide’ (at https://nos.nl/artikel/2401433-nederlanders-wereldwijd-op-4de-plek-rijkste-burgers) we should consider the list that Allianz seemingly gives the viewers. In that list we see: 

  1. USA (218.000 euro) 
  2. Switzerland (212.000 euro)
  3. Denmark (149.000 euro)
  4. Netherlands (129.000 euro)

Now, that would be fine were it not that there is a place in Europe called Monaco where the average wealth is 1,824,177 Euros, it might be all those billionaires and multi millionaires in that place. Then there is Luxembourg with the average 663,661 euro’s and that took seconds to check, so what does Allianz think it is doing? They give us “The report ranks the assets and debts of nearly 60 countries” I see this as a report that heralds filtered information bringing. Some call it lying but I think they are bonkers. It seems that news, the media, and politicians are all about filtering the information. It reminds me of someone. Ah yes, was that not a premise in George Orwells 1984 as well? 

And when we reconsider “nearly 60 countries” what are the chances that none of the zero tax nations are part of that? And when we consider “Switzerland ranks well on the list because the country attracts a lot of wealthy people, due to its low taxes.” Might this all be a ruse? I have no idea where they are going with all that, but they have a plan. A place like Allianz has the German grundlichkeit, so something is up. Now if that report had a separate section for Zero tax nations I might have had some peace with it. Yet when we search further we see “According to BMO, the average Canadian household now has more than $1 million in total assets, even after accounting for debt”, we got that last July, as such is seems that the average Canadian is twice as wealthy as an American, so what is Allianz doing this and more important, what the fuck is the Dutch NOS doing publishing an article without proper vetting? 

And that leaves us to think, is wealth really about ‘$$$’, ‘£££’, or ‘€€€’? Me and many others (especially as we do not have it) believe it to be so, but I will accept that money gives less complications and as such we would be happier. And there we have the rub, do we really have less complications as we are being lied to? 

In this is filtering the information we get a new form of lying? That took me back to 1984 (not the year). I remember when I read it and a few parts never made sense. One of those were “But if thought corrupts language, language can also corrupt thought”, I had an issue because if we (me claiming to be me) are of pure thought (not some paedophilic clergy edition) how can we be corrupted? I learned that over the years. I was lied to from basic school onwards. The christian invasion in the middle east was not to protect any land, not even a fictive holy one, so as we go on we were lied to more and more and it was not a point of view, the Crusades gave us that part. It would be a few more years as I got a hold of one sided information and later on filtered information the circle was nearly complete and now we see a larger stage, the last bastions of actual news reporting are now falling. The pointing powers behind the screens are now afraid of everything that comes and they will force new slogans like ‘tax the rich’ onto the people setting us up for some small version of civic war, but they will call it something else. Some form of social war. 

Yet there is more, The Global Wealth Report 2021 (at https://www.eulerhermes.com/content/dam/onemarketing/ehndbx/eulerhermes_com/en_gl/erd/publications/pdf/2021_10_07_Global-Wealth-Report.pdf) gives us more. Allianz gave that report to the world and even as the NOS bongs it, it does not mean that I need to do the same, does it? And on page 38 I see the first part, the part that shows grundlichkeit. There we see “Debt in the US represents 81.5% of output, while in Canada household liabilities are 114.7% of GDP. The ratio increased substantially from 2019 (US: 76.6%; CAN: 105.3%), not so much because of the increase in liabilities, which was also at highs not seen since 2007 (EUR522bn), but rather because of the sharp economic contraction of 2020”, as well as “There are still 2mn borrowers in debt forbearance who are vulnerable to financial distress once the forbearance programs come to an end. As of today, debt delinquency is not a problem. But going forward, when the pandemic protections expire, the historical debt burden in the US, not just among households, but also related to the government, might become a risk factor in the road to recovery.” OK, so that sounds better, well not that much better but at least there is a large solid pedestal it is all build on. On page 19 we see some graphs that explain the list (even as Switzerland was number one) and the other charts show that there is a larger story and we also see that none of the Zero Tax places are included. 

So as a non-economist I do grasp decent parts of the report, but what boggles the mind is how the NOS set the stage to what it published. Especially when we consider page 38 giving us “the historical debt burden in the US, not just among households, but also related to the government, might become a risk factor in the road to recovery.” When we read this with a debt of $28,000,000,000,000 How are they the richest player? When that debt goes south, they will be worse off than Mexico ever was (my speculated view). And when we see the list on page 52, we see where the NOS got its list, yet when we consider ‘by net financial assets per capita’ or to the right of that where the Swiss are number one and USA is number two giving us ‘by gross financial assets per capita’, I feel there is a lot missing (mainly that I am not seeing it all), but the report does show a whole range of issues. It also gave me the surprising view that Germany is way behind nations like Belgium, New Zealand, Italy, France and Israel. A stage I never expected, but that happens when you have a partial view, I personally believe that this is report is a partial view but that is not a bad thing. It is not some filtered view, it is a partial view of the elements that set the assets and equities (a stage that I feel happy I never understood). And that is not on Allianz, but the flaky article that the NOS is giving its Dutch citizens is on the NOS. For the life of me I have no idea where they expected to go, a 55 page report created by a dozen economists reduced to a 5 bullet-point article by someone who could never have been an economist. That’s today’s media for you. 

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