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We already do. But maybe the rates for those taxes need to increase to align with other types of income.

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A wealth tax will always be popular so long as the threshold for paying it is greater than your own wealth. Setting the threshold at £10 million meets this requirement for far more than 75% of the public. The 80% of millionaires are probably the millionaires with < £10 million wealth.

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There is an argument to say that the reason for wealth is a failure to tax income. If income tax were higher, fewer people would be able to accumulate wealth in the first place.

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Arni @arni-b.bsky.social · 04/11/2025

“If the money is spent wisely” Hmmmm. 🤔

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Oooh. Rachel from accounts is promising to deliver yet another budget for growth as per every budget I’ve ever listened to. You have to question whether this is something that is actually possible. But at least this will be a budget to support businesses to create jobs. Let’s see.

Arni @arni-b.bsky.social · 02/11/2025

Not all wealth is created in the same way. If someone is careful with their money then they will build up wealth. But should that accumulated wealth be taken away from them as punishment for them not spending it?

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Arni @arni-b.bsky.social · 02/11/2025

Partners at magic circle law firms earn way more than that - you’re talking in the region of £1.5MM+ drawings per annum. But the law firms will collectively increase their costs to cover the extra tax burden. This increase will be unpopular but will generate GDP growth which is the aim.

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Arni @arni-b.bsky.social · 02/11/2025

Why would this be popular? One way that the law firms could fund it is by cutting the bonuses and reducing pay rises of the support staff who are regularly employed. That way the lawyers increase their pay to cover the extra tax burden and the “normal” staff (IT, procurement, HR etc) lose out.

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Arni @arni-b.bsky.social · 19/10/2025

Their argument will be that “you are wealthy if you’re a higher-rate taxpayer” and they’ll include your house as one of the assets. 🙁

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Arni @arni-b.bsky.social · 19/10/2025

I’m anticipating extra taxes for the wealthy who are earning more than £50,000 per year or those with more than £500,000 in assets. Easy peasy. Job done.

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Arni @arni-b.bsky.social · 18/10/2025

The ban is to protect the Israeli fans from the risk of violence. This seems the right thing to do. The fact that it’s necessary to impose the ban is the issue. But simply trying to reverse the ban is not going to solve the problem.

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Land taxes make sense as they can be levied on a formula that is linked to area of land owned and the land usage/purpose. It’s other “wealth taxes” that are really difficult to measure.

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Brilliant as ever Rosie. You are a national treasure.

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You realise that one of the reasons this happens is because ordinary people gamble their money on the stock market in the hope of getting rich quickly, thereby artificially increasing the value of companies which is then perceived as making their CEOs wealthy. 🤔

Agreed. What assets would be subject to a wealth tax? Perhaps everyone needs to create an inventory of their worldly possessions and then an independent assessor values each item and you are taxed accordingly. But how do you value an antique clock? How do you value a start-up company?

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Meanwhile in the UK, once your earnings reach £100,000 ($133,000) you lose 60% of your income to tax and you also lose a bit more to National Insurance.

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I thought land taxes already exist.

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As far as I can tell, the definition of wealth is someone who has more than you.

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Here’s an article from the London School of economics which suggests a wealth tax on anyone with more than £500,000. www.lse.ac.uk/Internationa...?

lse.ac.uk

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Someone needs to define ‘wealth’ first.

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Remember if you have no money left at the end of each month then the government has achieved its objective.

George Monbiot @georgemonbiot.bsky.social · 14/10/2025

I wish someone would organise a National sick day where everyone (except government workers) phones into work sick. We have so many other “national” days, surely one more won’t hurt.

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To be effective, protest must be noisy, obstructive, annoying. No longer is this allowed. Now the last attribute of effective dissent – persistence – is also to be banned. But the moment protest ceases to be effective is the moment democracy dies. www.theguardian.com/commentisfre...

theguardian.com

Here’s what you need to know about Starmer’s illiberal protest curbs: they would have killed the Labour party at birth | George Monbiot

The rights we enjoy in the UK, and the movement the PM purports to lead, were built on protest. Those rights are in dire peril, says Guardian columnist George Monbiot

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Andrew Levi @andrewprlevi.bsky.social · 06/10/2025

Calling all experts on Bluesky who can shed reliable light on the impacts of Brexit: I know you don’t really want to, but I think we must … “Gully Foyle” has re-upped a November 2024 X 🧵 as a book claiming 75 “Brexit benefits”. Let’s go through them together. Many hands make light work. /1.

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Arni @arni-b.bsky.social · 07/10/2025

They caused a lot of damage to a military jet, so they are very very bad. …or something like that. ☺️

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George Monbiot @georgemonbiot.bsky.social · 07/10/2025

No sudden rupture is now required for the far right to take power in this country. For what we're seeing is a steady normalisation of extremists by the Conservative and Labour Parties, BBC, Telegraph, Mail and others. A shift once considered unthinkable beings to look acceptable, even inevitable.🧵

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Christopher Webb @cwebbonline.com · 07/10/2025

Whoa! The shutdown’s ripple effect starting to hit. Burbank Airport in LA County has no air traffic controllers on duty due to sick calls, last-minute day-off requests, and staffing shortages. If you’re flying anywhere in the country, check for delays.

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George Conway ⚖️🇺🇸 @gtconway.bsky.social · 07/10/2025

Love this. Superbly done. Please send this far and wide. @donwinslow.bsky.social

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Arni @arni-b.bsky.social · 06/10/2025

To tax something you have to know what it’s worth. But something is only ever worth what someone will pay for it. That is often much less than someone thinks it’s worth. What about the idea of an inheritance tax. When someone dies a portion of their estate goes to the tax man. Just a crazy idea.

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Arni @arni-b.bsky.social · 06/10/2025

A wealth tax is simply a backdated income tax. It’s like saying “we didn’t tax you enough when you earned the money and so we will repossess the money you have accumulated”. It’s “How you become wealthy” that matters.

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Arni @arni-b.bsky.social · 06/10/2025

How do you ever value something like this when there are no wealthy people left? Then what happens?

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George Monbiot @georgemonbiot.bsky.social · 04/10/2025

Had the government said "as a mark of respect, we'd like you to cancel football matches, concerts etc AND protests today", then fair enough. But to single out the protest they've long wanted to stop anyway as the one thing we should not do looks like disgraceful exploitation of a horrific attack.

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Arni @arni-b.bsky.social · 04/10/2025

I think when the police say… ‘the protest diverted officers from "protective security" for communities’ it’s the same as saying… “The police decided to focus on petty crime rather than continuing to provide protective security for communities.” Everything in life is about priorities.

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Arni @arni-b.bsky.social · 04/10/2025

George, at a fundamental level it would appear that “not” fixing the pothole results in greater economic growth than fixing it. Such is the crazy world we live in.