The 1%

[mezzaninedoor]

I was wondering what to call this thread as I know i'll probably get flamed for being someone whos inately jealous of the rich BUT Jeff Bezos has just become the richest man in the world and the accepted wisdom is that Amazon to not pay their tax liability in many nations by using Tax Avoidance strategies.

How do we feel about this and I use Amazon so I guess maybe Im a hypocrite even asking?

http://time.com/money/4876276/jeff-bezos-net-worth-richest-person/

[Hollow]

I wonder where in the pyramid this guy's position is, i am assuming pretty close to the top. Although i don't believe he is really the richest man in the world, there are people behind the curtains with more money than him. The top 1% are less than 10,000 people and they like to keep it that way, don't want it to get too crowded up there. It you want to understand how the power structure works then watch the interview of this ex Dutch banker, he knows the inner workings.

https://youtu.be/3C-KHt9vi5k

[mezzaninedoor]

Thanks Hollow, interesting.
Apparently Bezos was only richest man in the world on paper for a matter of minutes due to Amazon stock rises.

We tend to have facts that come out occasionally in the Uk that even though tax rates are 45% & 40% for higher earners and 20% for lower earners that the top 1% often have less of a tax burden than low/middle income earners due to the creativity of accountants, not that its always illegal unless truly Tax evasion.

Though the recent increases in the allowance in the Uk before you start paying Tax ( Lib Dem policy ) seems to have helped

http://www.bbc.co.uk/news/uk-politics-39641222

[MyNameIsTerry]

Think of all the tax revenue we have lost and how that could have helped the NHS?

I guess there is the question whether they would just go elsewhere of loopholes ate closed but it seems so unfair when we pay ours.

Didn't Amazon pay less than one person on the 20% at one point?

Celebs too. They were already here so there is no argument over loss of revenue if they paid what is right.

Even the SME's look to shaft the taxman through creative accounting though.

Cash in hand is another way which many towards the lower end can use but when the biggest & richest do it on such a grand scale, why complain about a working man or woman just trying to earn a bit extra to pay the bills? Cash in hand culture goes back a lot longer but no one gets rich off that.

[KK77]

My Mogs is raging after we ordered flea treatment from Amazon.... 3 DAYS and they have yet to 'dispatch' it. Off with his billionaire head! :lac:

I agree with Hollow, however, that the "super rich" do not advertise their wealth, so establishing ranks and figures is a game of smoke and mirrors.

[Hollow]

My Mogs is raging after we ordered flea treatment from Amazon.... 3 DAYS and they have yet to 'dispatch' it. Off with his billionaire head! :lac:


A lot of these sellers on Amazon ship from China even though they are UK based companies. Unless it's Amazon itselt that's the seller then delivery is usually on time.

Like you i don't believe these official rich lists, why is the Queen not on them? All that wealth from the empire can't just have dissapeared.

[MyNameIsTerry]

A lot of these sellers on Amazon ship from China even though they are UK based companies. Unless it's Amazon itselt that's the seller then delivery is usually on time.

Like you i don't believe these official rich lists, why is the Queen not on them? All that wealth from the empire can't just have dissapeared.

And there is also the charities they get involved in.

That's a pain with Amazon, at least on Ebay you can clearly see the delays.

With Ebay you often find the same town is shipping for a lot of sellers so you know it's dropshipping from the same warehouse. Sometimes I check them out on Ebay as they can have the same name and then you can work out where it's coming from more easily.

I won't be stopping shopping where I want though. If we want to buy from good guys, expect to pay a lot more. All big businesses are shafting countries on tax or treating workers worse than they could. That's just life!