So taxing the banks and high-earners is working well.... - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

So taxing the banks and high-earners is working well....

FilthAndFurry Avatar
banned5y, 9m agoPosted 5 years, 9 months ago
HSBC is considering quitting London for Hong Kong in a shock move, said The Sunday Telegraph newspaper.
Britain's biggest bank, which has been headquartered in London for 19 years, has warned key investors that it is looking at moving to Hong Kong due to the levels of tax and red tape, the broadsheet said.
The group was founded in Hong Kong and Shanghai in 1865 and the bank regards Asia as its most important region.
If HSBC left, it would be a severe blow to the British government which is relying on a private-sector-led economic recovery, The Sunday Telegraph said.
It survived the financial crisis without needing a government bailout.
The newspaper said it paid £1.2 billion ($2 billion, 1.4 billion euros) in British taxes last year and employs 52,000 people.


Are all those people blaming the bankers and rejoicing in the increased taxation of all high-earners happy about this?
FilthAndFurry Avatar
banned5y, 9m agoPosted 5 years, 9 months ago
Options

All Comments

(75) Jump to unreadPost a comment
Comments/page:
Page:
#2
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.
banned#3
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do pay more in tax. They paid more in tax before the credit crisis, during the credit crisis and after the credit crisis.
banned#4
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do
If you were told of a completely legal way to half your tax bill every month would you say 'no I'm happy paying full price'?
#5
The thing is we always get into this game of russian roulette with the large corporations who have NO social concience at all prefering to use all possible tax dodges under the guise of protecting shareholders dividends. to evade their true tax liability.

If laws are so lax in tackling these corporate cheats, why should the less fortunate in society be treated so harshly.
#6
FilthAndFurry
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do pay more in tax. They paid more in tax before the credit crisis, during the credit crisis and after the credit crisis.
I know they pay more in tax,but my argument is for example,why should I struggle to pay bills,fuel etc & someone who even if paying more taxes still earns £100,000 p/year & still has the best of everything & can still save so much they will never be able to spend it in a life-time.
We are in recession & so everyone should be pulling as one & not having the high earners still having the pick of the fruits.

With HSBC it sounds more like blackmail & they are one of many reasons we are in this position.
Maybe the HSBC should clean it's mess up before running away.
banned#7
WheresMeNuts
FilthAndFurry
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do pay more in tax. They paid more in tax before the credit crisis, during the credit crisis and after the credit crisis.
I know they pay more in tax,but my argument is for example,why should I struggle to pay bills,fuel etc & someone who even if paying more taxes still earns £100,000 p/year & still has the best of everything & can still save so much they will never be able to spend it in a life-time.
We are in recession & so everyone should be pulling as one & not having the high earners still having the pick of the fruits.

With HSBC it sounds more like blackmail & they are one of many reasons we are in this position.
Maybe the HSBC should clean it's mess up before running away.


Clean up what mess?
#8
colinsunderland
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do
If you were told of a completely legal way to half your tax bill every month would you say 'no I'm happy paying full price'?
Of course I would accept the bill halved,but I'm not in a position to move to another country & it sounds like blackmail from this bank.
banned#9
WheresMeNuts
FilthAndFurry
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do pay more in tax. They paid more in tax before the credit crisis, during the credit crisis and after the credit crisis.
I know they pay more in tax,but my argument is for example,why should I struggle to pay bills,fuel etc & someone who even if paying more taxes still earns £100,000 p/year & still has the best of everything & can still save so much they will never be able to spend it in a life-time.
We are in recession & so everyone should be pulling as one & not having the high earners still having the pick of the fruits.

With HSBC it sounds more like blackmail & they are one of many reasons we are in this position.
Maybe the HSBC should clean it's mess up before running away.


Because we live in a capitalist society and people are allowed to pay their employees as much money as they wish (so long as they are able to).

Let's be honest and say that a person earning £100,000 p/a in London in banking is not exceptionally rich and probably works quite hard in a high stress position for that wage. I know people who do it and I know people who have been burnt out by it.

HSBC as far as I remember was actually one of the better behaved banks at the time of the crisis too and they contribute greatly to this country not just in terms of jobs and taxes, but also in terms of giving the city credibility as a banking centre. Losing them could be disastrous for this country.
banned#10
WheresMeNuts
colinsunderland
WheresMeNuts
Don't know about being happy about it,but if I work my Erse off & struggle every week then why can't people who earn silly amounts of money not pay more in tax to help the average working person.


They do
If you were told of a completely legal way to half your tax bill every month would you say 'no I'm happy paying full price'?
Of course I would accept the bill halved,but I'm not in a position to move to another country & it sounds like blackmail from this bank.


So because you can't do it, it's blackmail, but if you could it would be fine?
Sorry I'm not meaning to get at you, just genuinely don't understand what you are getting at. I'm actually quite surpised a multinational company like HSBC are still based here!
#11
colinsunderland


Clean up what mess?
My mistake as I thought they where also bail-out along with some of the others.
#12
WMN - they've got themselves in a position to be earning £100k, through talent, intelligence, diligence or all of the above so yes they should get it.

The chance to earn big £££ should encourage people to reach for the stars too. It's how capitalism works.

Surely you don't think they should be paid the same as bin men?
banned 4 Likes #13
Posturing and blackmail.

If they leave the UK then it would be nice if all UK customers left them too.
#14
CReilly
WMN - they've got themselves in a position to be earning £100k, through talent, intelligence, diligence or all of the above so yes they should get it.

The chance to earn big £££ should encourage people to reach for the stars too. It's how capitalism works.

Surely you don't think they should be paid the same as bin men?
I agree they should be better paid,but some people get crazy amounts that in truth is just stupid money & in my opinion no one should be getting paid 1000 x more than even a bin man as he's still doing a honest job as well.
If someone was to offer me say a £1,000,000 p/year job would I take it.Yes I would take it,but I would not insult people on average wage who work very hard & say it's hard times just now for everyone when in fact it's not hard times for everyone.

You reap the rewards when things are going well & you help out when things are going bad.
banned#15
WheresMeNuts
in my opinion no one should be getting paid 1000 x more than even a bin man as he's still doing a honest job as well.


He's also doing a job that more people could do though - wages are based on a number of things, but one of them is how many other people could actually do that job.
#16
I'm not sure what you mean about insulting people on an average wage, I don't think anyone is doing that!

At the end of the day, I appreciate that the banks as a whole seem pretty callous but on an individual basis wouldn't you be furious if you earned a lot of money and it was constantly chipped away at in the name of 'helping out'?
#17
master_chief
Posturing and blackmail.If they leave the UK then it would be nice if all UK customers left them too.

Excellent idea.
And bear in mind that the co-op bank has traditionally been more in touch with the other side of the political spectrum, together with the Britannia BS I think.
banned#18
I doubt there's many people in the world get paid 1000 times what a bin man does! That would be about £30 million!
Again, I don't get the point, people get paid what their employers think they are worth. Working in a shop is an honest job, so it sounds as though you think everyone should be paid the same as shop workers?

Edited By: colinsunderland on Mar 06, 2011 11:08
#19
master_chief
Posturing and blackmail.If they leave the UK then it would be nice if all UK customers left them too.

Maybe that should be the next big campaign after all the protests over fuel price hikes.
With other corporations as well who decide to set blackmail as part of their agenda.

Edited By: WoolyM on Mar 06, 2011 11:16: .
#20
Which are high out of necessity as crude oil, production and logistics prices etc are always on the rise. Yes we pay lots of tax on it but if the govt cut that then imagine where they'd have to find that money from!
#21
FilthAndFurry
WheresMeNuts
in my opinion no one should be getting paid 1000 x more than even a bin man as he's still doing a honest job as well.


He's also doing a job that more people could do though - wages are based on a number of things, but one of them is how many other people could actually do that job.
Does say......Rooney deserve £150,000 p/week ?


CReilly
I'm not sure what you mean about insulting people on an average wage, I don't think anyone is doing that!

At the end of the day, I appreciate that the banks as a whole seem pretty callous but on an individual basis wouldn't you be furious if you earned a lot of money and it was constantly chipped away at in the name of 'helping out'?
What I'm saying is take myself as a example.I went to college for 2 full years & got a City & Guilds 706 1&2 also Food & Hygiene certificate & also a First Aid Certificate.
I work around 50-55 hours p/week & get 4 weeks holiday.A Teacher (nothing against teachers) gets around £38,000 p/year & also around 12 weeks paid holiday p/year.
I know before you say it that I could not do a teachers job,but I also know a teacher could not do my job as well,So how is it justified that a Chef should be on half the pay & 3 times less holidays than a teacher.
Even a teachers wage is nothing to some who earn crazy amounts but just a example.
#22
WheresMeNuts

Even a teachers wage is nothing to some who earn crazy amounts but just a example.



Life isn't fair,

if you are not happy with your current salary,then retrain for another higher paid career,moaning and groaning on here constantly about how bad your lot and slagging other professions off will get you nothing except making you a bigger laughing stock than you are now

Be more proactive or shut your gob




Edited By: boothy on Mar 06, 2011 11:18
banned#23
master_chief
Posturing and blackmail.

If they leave the UK then it would be nice if all UK customers left them too.

I cant see them being that bothered tbh when the UK banking division makes up around 2% of their global profits

£300Million profit from the UK on £19Billion global profits of which they paid the exchequer (us) £1.3Billion

Like Colin, I'm surprised they are still in this country as they would still be £1Billion better off even if they closed all the UK branches.
#24
colinsunderland
I doubt there's many people in the world get paid 1000 times what a bin man does! That would be about £30 million!
Again, I don't get the point, people get paid what their employers think they are worth. Working in a shop is an honest job, so it sounds as though you think everyone should be paid the same as shop workers?
Some do,but yes I'm being a little OTT & maybe a more reasonable 100x's more p/week.
I've not said everyone should be paid the same & have never said that,but do think that lots of people get way to much compared to what I earn.
banned 1 Like #25
WheresMeNuts
Does say......Rooney deserve £150,000 p/week ?



The market thinks he does based on his skills and the scarcity of equivalent options.
#26
boothy
WheresMeNuts

Even a teachers wage is nothing to some who earn crazy amounts but just a example.



Life isn't fair,

if you are not happy with your current salary,then retrain for another higher paid career,moaning and groaning on here constantly about how bad your lot and salgging other professions off is will get you nothing except making you a bigger laughing stock than you are now

Be more proactive or shut your gob

You still being a weak nob who always wants to talk me down but will not sort out face to face.
BTW: seen your photo & just as I thought your a mummy's boy.
banned#27
WheresMeNuts
colinsunderland
I doubt there's many people in the world get paid 1000 times what a bin man does! That would be about £30 million!
Again, I don't get the point, people get paid what their employers think they are worth. Working in a shop is an honest job, so it sounds as though you think everyone should be paid the same as shop workers?
Some do,but yes I'm being a little OTT & maybe a more reasonable 100x's more p/week.
I've not said everyone should be paid the same & have never said that,but do think that lots of people get way to much compared to what I earn.

should have researched your job market before training in it. I thought everyone knew that chefs got paid poorly (unless they are excellent!).
banned#28
WheresMeNuts
boothy
WheresMeNuts

Even a teachers wage is nothing to some who earn crazy amounts but just a example.



Life isn't fair,

if you are not happy with your current salary,then retrain for another higher paid career,moaning and groaning on here constantly about how bad your lot and salgging other professions off is will get you nothing except making you a bigger laughing stock than you are now

Be more proactive or shut your gob

You still being a weak nob who always wants to talk me down but will not sort out face to face.
BTW: seen your photo & just as I thought your a mummy's boy
.

Definition of lost argument:- See above.
#29
WMN - you are the one who decided to be a chef rather than a teacher or investment banker!

In my high school we had cookery teachers - maybe you should look into that!

Also, some chefs make A LOT, so I don't really understand your point? I am sure a lot of the better paid ones started on a salary similar to yourself.
#30
csiman

Definition of lost argument:- See above.
You think so,must be if you said so lol.
He comes on here all the time & insults me & it's no secret you & him get along on here.
Like I said it's easy to sit behind a keyboard & insult people,AKA weak.
#31
WheresMeNuts
boothy
WheresMeNuts

Even a teachers wage is nothing to some who earn crazy amounts but just a example.



Life isn't fair,

if you are not happy with your current salary,then retrain for another higher paid career,moaning and groaning on here constantly about how bad your lot and salgging other professions off is will get you nothing except making you a bigger laughing stock than you are now

Be more proactive or shut your gob

You still being a weak nob who always wants to talk me down but will not sort out face to face.
BTW: seen your photo & just as I thought your a mummy's boy.


did you actually want to address the points I made or just threaten me with violence and call me names?

I am sure there is a code of conduct breach somewhere in that reply of yours but i will let it slide this time as I am a nice guy

Edited By: boothy on Mar 06, 2011 11:25
#32
HSBC = The Hongkong and Shanghai Banking Corporation.

They're not a British company, they are Chinese anyway, so what's the problem with going back to their roots in Hong Kong?

Regarding bankers, you have to agree that it is unfair that it is only them that are getting an extra tax on bonuses, when the top cats at Tesco get the same big bonuses but not the same level of tax. It has to be fair and level across the board. Fair enough, tax bonuses, but you have to tax every ones bonus, not just one sector.

People on £200,000 a year get
£6750 tax free..........£0
20% of £30,650........£6130
40% of £112,600......£45,040
50% of £50,000........£25,000

TOTAL TAX = £76,170 = 38% of wages taken away

People on the average £20,000 a year get
£6750 tax free..........£0
20% of £13,250........£2650

TOTAL TAX = £2650 = 13.25% of wages taken away.

As the figures prove, higher people do pay a lot more tax, even in a percentage comparison.

The people who are complaining about it are just jealous, and can be proven when they say everyone should pull together, but then say in the next breath that if they hot offered that they would take it straight away. So, the bankers should turn it down, because it is too much, yet you shouldn't?
#33
CReilly
WMN - you are the one who decided to be a chef rather than a teacher or investment banker!

In my high school we had cookery teachers - maybe you should look into that!

Also, some chefs make A LOT, so I don't really understand your point? I am sure a lot of the better paid ones started on a salary similar to yourself.
You are correct,but only very few make it to the very top & you have to be very good at the job to be that successful.
I like what I do,but I'm still entitled to moan about it if people are trying to preach to me on here that fuel,bills etc are fair at the moment for everyone when we know it's not everyone.
banned#34
peodude
HSBC = The Hongkong and Shanghai Banking Corporation.

They're not a British company, they are Chinese anyway, so what's the problem with going back to their roots in Hong Kong?


HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank.

A minor technicality, and not really the point. The 'problem' as you put it is that it could be disastrous for the City as a financial centre.
banned#35
WheresMeNuts
You are correct,but only very few make it to the very top & you have to be very good at the job to be that successful.


Which is why they are paid more. Got there eventually.
#36
boothy

did you actually want to address the points I made or just threaten me with violence and call me names?

I am sure there is a code of conduct breach somewhere in that reply of yours but i will let it slide this time as I am a nice guy
You want to shut my gob ?
You shut-up or back-up as you are just a fake hard man & in reality you are no more than a little wimp.
#37
FilthAndFurry
WheresMeNuts
You are correct,but only very few make it to the very top & you have to be very good at the job to be that successful.


Which is why they are paid more. Got there eventually.
You missed my point.I was not talking about people on £30,000 jobs,but more people on £100,000 jobs who say we are all in the same boat when in fact they are not.
#38
WheresMeNuts
boothy

did you actually want to address the points I made or just threaten me with violence and call me names?

I am sure there is a code of conduct breach somewhere in that reply of yours but i will let it slide this time as I am a nice guy
You want to shut my gob ?
You shut-up or back-up as you are just a fake hard man & in reality you are no more than a little wimp.


I can't win the arguement so now I'll just threaten you to try and intimidate you to prove that I won....

that's what I'm reading here from you :P

Reality is everyone wants to earn more, everyone wants to pay less taxes.

There are legal ways to do it and anyone following those routes is merely using their common sense to save money. Same as why people shop in supermarkets because it's cheaper :P

you don't like what you earn as a chef but love your job? then you have a choice, continue loving your job or choose one that pays more money which you may not like.

The subject was HSBC leaving the UK, this would be disastrous for the UK and saying they are blackmailing is a little like going into the corner shop and saying "sell me milk for the price tesco do or i'll shop there" which is your right ! as it is their right to tell the UK gov they charge too much tax and so will move if it doesn't drop!

Imagine renting a house for 2k a month then you see one 2 streets away thats just as good for 1k a momth, it's fairly common sense to move :)
#39
pontprennau


I can't win the arguement so now I'll just threaten you to try and intimidate you to prove that I won....

that's what I'm reading here from you :P

Reality is everyone wants to earn more, everyone wants to pay less taxes.

There are legal ways to do it and anyone following those routes is merely using their common sense to save money. Same as why people shop in supermarkets because it's cheaper :P

you don't like what you earn as a chef but love your job? then you have a choice, continue loving your job or choose one that pays more money which you may not like.

The subject was HSBC leaving the UK, this would be disastrous for the UK and saying they are blackmailing is a little like going into the corner shop and saying "sell me milk for the price tesco do or i'll shop there" which is your right ! as it is their right to tell the UK gov they charge too much tax and so will move if it doesn't drop!

Imagine renting a house for 2k a month then you see one 2 streets away thats just as good for 1k a momth, it's fairly common sense to move :)
I can see why you think that,but me & this little man go back a long way when he tried to tell everyone in a thread that if you follow rules you will never get scammed & I said yes you can still get scammed.He did not like the fact that another member shut him up because they said they had followed every rule & still lost out.Ever since that day he's insulted me with almost every comment I say on here & so I will defend myself & looks like he just wants to be me or maybe deep down he fancy's me.
2 Likes #40
Look its easy enough to understand. Georgie our chancellor coined the phrase "We are all in this together" and if that were really true maybe there wouldn't be so much disquiet.

But in reality it is totally untrue.
The truth is whatever the consequences you cant really deal with anyone corporations or otherwise on the basis of blackmail. If they really dont like the conditions they are presented with they may as well clear off. The country will have to adjust to whatever it is left with.


Edited By: WoolyM on Mar 06, 2011 11:47

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!