Hey there! Sign in to join this conversationNew here? Join for free

Staggering wealth gap in the world - Gulf royal buys entire London car park Watch

    • Thread Starter
    Offline

    20
    ReputationRep:
    To store his collection of 80 supercars.
    http://www.dailymail.co.uk/news/arti...21million.html

    It's a 130 space underground car park in Kensington.

    Clearly the nondom system, the tax system, the luxury tax system and the planning laws are not working.

    We need a radical change, with proper levels of taxation on the super rich and high rates of adverse taxation on the global class of oligarchs and plutocrats who want to make London their private playground.
    Offline

    20
    ReputationRep:
    (Original post by Fullofsurprises)
    To store his collection of 80 supercars.
    http://www.dailymail.co.uk/news/arti...21million.html

    It's a 130 space underground car park in Kensington.

    Clearly the nondom system, the tax system, the luxury tax system and the planning laws are not working.

    We need a radical change, with proper levels of taxation on the super rich and high rates of adverse taxation on the global class of oligarchs and plutocrats who want to make London their private playground.
    "But they worked hard for it" :rofl:

    EDIT: If this can't convince people there's a problem, then nothing can.
    • Thread Starter
    Offline

    20
    ReputationRep:
    (Original post by cbreef)
    "But they worked hard for it" :rofl:
    Yes, inheriting staggering wealth accumulated from corrupt plutocracy in regimes maintained to service western corporate interests and armed to the teeth to suppress all dissent is incredibly hard work. :rolleyes:
    Offline

    20
    ReputationRep:
    (Original post by Fullofsurprises)
    Yes, inheriting staggering wealth accumulated from corrupt plutocracy in regimes maintained to service western corporate interests and armed to the teeth to suppress all dissent is incredibly hard work. :rolleyes:
    Indeed :toofunny: Well said.
    Offline

    20
    ReputationRep:
    (Original post by Fullofsurprises)
    Yes, inheriting staggering wealth accumulated from corrupt plutocracy in regimes maintained to service western corporate interests and armed to the teeth to suppress all dissent is incredibly hard work. :rolleyes:
    So let's improve the system by taking money from these people and keeping it for ourselves, that's really going to make the world better


    Posted from TSR Mobile
    Offline

    16
    ReputationRep:
    IN to see how the right wing nutters on this site spin this.
    Offline

    19
    ReputationRep:
    (Original post by Underscore__)
    So let's improve the system by taking money from these people and keeping it for ourselves, that's really going to make the world better


    Posted from TSR Mobile
    ikr? If you don't want Billionaires in this country then just start taking their money and they'll leave. Whoops, now the people at the top of the income scale are no longer here to put into our tax system. Derp. Labour tried this ages ago by increasing taxes for the rich and a lot left.

    I think it's better to have a smaller tax everyone will pay than a large one only a few will pay.


    Also the article clearly state this was a one off event.
    Offline

    12
    ReputationRep:
    He bought an entire carpark? Y-y'mean he didn't just buy one or two parking spaces. The swine.
    Offline

    20
    ReputationRep:
    (Original post by JoshDawg)
    ikr? If you don't want Billionaires in this country then just start taking their money and they'll leave. Whoops, now the people at the top of the income scale are no longer here to put into our tax system. Derp. Labour tried this ages ago by increasing taxes for the rich and a lot left.

    I think it's better to have a smaller tax everyone will pay than a large one only a few will pay.


    Also the article clearly state this was a one off event.
    How much is a lot? 5%?
    Offline

    13
    ReputationRep:
    Why r u so obsessed with wealth inequality? why not just care about actual poverty? (i.e. absolute poverty)
    Offline

    3
    ReputationRep:
    (Original post by Fullofsurprises)
    To store his collection of 80 supercars.
    http://www.dailymail.co.uk/news/arti...21million.html

    It's a 130 space underground car park in Kensington.

    Clearly the nondom system, the tax system, the luxury tax system and the planning laws are not working.

    We need a radical change, with proper levels of taxation on the super rich and high rates of adverse taxation on the global class of oligarchs and plutocrats who want to make London their private playground.
    Goodness me, where to begin?

    The wealth gap is not "staggering", it is perfectly reasonable and more than understandable if you recognise what is meant by wealth.

    Sole wealth is the value of all goods and services belonging to an individual [1], which includes liquid entities like money, but also includes investment, property and other assets which have a value.

    Therefore, for most people, you are not going to be able to accumulate wealth until you have been able to earn money over a prolonged period. In order to have wealth, first you must work. In order to be wealthy, you must have worked for a long time. Hence, wealthy people tend to be older.

    Just because you are not wealthy, that does not mean you live in poverty. I am a student and my net wealth is in the negative, but my standard of living is perfectly adequate. Indeed, people who have a mortgage, student loans, car finance or any other financial obligation will also likely have little wealth, but this does not mean they are struggling financially.

    It is silly to try and exacerbate economic inequality by quoting the wealth gap, since it is not an indicator of economic wellbeing and its interpretation is wholly misrepresentative.
    • Thread Starter
    Offline

    20
    ReputationRep:
    (Original post by JoshDawg)
    Also the article clearly state this was a one off event.
    It's a symptom, he's far from being the only one. It's also a symptom of the way the UK allows any foreign rich person, unchecked, with no money laundering checks or enquiries into how the money was obtained, to buy up major pieces of capital and infrastructure. Let's not even get started on how media are owned by foreign oligarchs, energy companies by Russian mobsters and our railways by subsidised state operators who use our inflated ticket revenue to allow people in their own countries to travel cheaply.
    Offline

    19
    ReputationRep:
    (Original post by Fullofsurprises)
    Clearly the nondom system, the tax system, the luxury tax system and the planning laws are not working.
    I agree! We should apply punitve tax levels, introduce higly restrictive visa rules and drive these people out of the country. We don't want UK taxpayers to be subsidised by people with vast inherited wealth from abroad who have no business coming to Britain for their holidays in the first place.

    It beggars belief that the public should want to accept VAT, stamp duty, corporation tax, business rates, council tax and income tax from the likes of him. And he can take his security jobs, his car servicing business and his other tainted spending and stuff it where the sun doesn't shine!

    Let's foist the problem onto the French or the Germans and make sure they are tainted by such subsidies.
    • Thread Starter
    Offline

    20
    ReputationRep:
    (Original post by jake4198)
    Goodness me, where to begin?

    The wealth gap is not "staggering", it is perfectly reasonable and more than understandable if you recognise what is meant by wealth.

    Sole wealth is the value of all goods and services belonging to an individual [1], which includes liquid entities like money, but also includes investment, property and other assets which have a value.

    Therefore, for most people, you are not going to be able to accumulate wealth until you have been able to earn money over a prolonged period. In order to have wealth, first you must work. In order to be wealthy, you must have worked for a long time. Hence, wealthy people tend to be older.

    Just because you are not wealthy, that does not mean you live in poverty. I am a student and my net wealth is in the negative, but my standard of living is perfectly adequate. Indeed, people who have a mortgage, student loans, car finance or any other financial obligation will also likely have little wealth, but this does not mean they are struggling financially.

    It is silly to try and exacerbate economic inequality by quoting the wealth gap, since it is not an indicator of economic wellbeing and its interpretation is wholly misrepresentative.
    You seriously think that Gulf royals have done anything remotely resembling 'earning money'?
    • Thread Starter
    Offline

    20
    ReputationRep:
    (Original post by TheGuyReturns)
    IN to see how the right wing nutters on this site spin this.
    Your prediction seems to be eerily correct. :afraid:
    • Offline

      20
      Good on him for investing in UK infrastructure.
      Offline

      20
      ReputationRep:
      the guy must be an extreme clunge magnet
      Offline

      3
      ReputationRep:
      (Original post by Fullofsurprises)
      You seriously think that Gulf royals have done anything remotely resembling 'earning money'?
      How so?

      The Gulf states have benefited massively from global demand in oil, which, as a result of trade, has allowed the Gulf region to develop tremendously as a result of newfound inward investment.

      If you are suggesting that the money has ended up in the wrong hands, then that is a different topic of conversation. However, to question the legitimacy of their wealth is silly.
      • Thread Starter
      Offline

      20
      ReputationRep:
      (Original post by Mathemagicien)
      Good on him for investing in UK infrastructure.
      He isn't, he's withdrawing it from the public domain.
      • Community Assistant
      Offline

      21
      ReputationRep:
      So what? He can afford an extremely expensive car park, he can buy one.
     
     
     
  1. See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  2. Poll
    What newspaper do you read/prefer?
    Useful resources
  3. See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  4. The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.