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

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    Evidently this one isn't a first. Sheikh Makhtoum of Dubai has been trashing Battersea to build a 114-space car park next to the heliport, entirely filled with Rollers.
    http://www.dailymail.co.uk/news/arti...urs-staff.html

    The post isn't about abstract issues in capitalism, it is about the reality of glaring inequality on a vast scale being acted out in our city. Most of us don't want this and the democratic thing would be to ban this kind of activity, where billionaires pay no tax here but make extensive use of our public spaces, not least the roads.
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    (Original post by cbreef)
    You know there are purpose built tracks to drive these machines on all over the place but no, they'd rather blast through the crowded streets at twice the speed limit :congrats:. It's basically their way of saying "Look how good I am peasants".
    :yep: It is the modern equivalent of the fox hunt trashing the peasant vegetable field.
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    (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.
    not really anything to do with the tax system. all to do with the oil system - ie the fact we in the west bankroll the arabs in the only industry that they hold any assets in,

    the sooner the west makes the switch to promoting electric over combustion engined cars, the sooner this arrangment will end
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    (Original post by Reformed)
    not really anything to do with the tax system. all to do with the oil system - ie the fact we in the west bankroll the arabs in the only industry that they hold any assets in,

    the sooner the west makes the switch to promoting electric over combustion engined cars, the sooner this arrangment will end
    Yes, it's oil and the way the profits were divided by western interests that creates these insanely rich families and the deep inequality in their own countries. It's our tax system that is engineered to allow them to float their boats here, with effective immunity from our laws (especially our traffic laws) and the distortions they cause to the London economy.

    It isn't ultimately these spoiled idiots that are the problem, but our own governmental system and the way it has caved to billionaire interests.
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    (Original post by Fullofsurprises)
    Most of us don't want this and the democratic thing would be to ban this kind of activity, where billionaires pay no tax here but make extensive use of our public spaces, not least the roads.
    You have hit the nail on the head and we don't need evidence to tell what is obvious, do we? These people are notorious for avoiding VAT on their spending, wriggling out of their council tax bills and failing to pay the stamp duty on these huge purchases, which in this case is a pittance anyway, just £2.4 million.
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    Oooh, almost right.

    (Original post by Fullofsurprises)
    Central London is almost unbearable
    There, fixed it.
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    (Original post by Good bloke)
    You have hit the nail on the head and we don't need evidence to tell what is obvious, do we? These people are notorious for avoiding VAT on their spending, wriggling out of their council tax bills and failing to pay the stamp duty on these huge purchases, which in this case is a pittance anyway, just £2.4 million.
    There should be a London Residence Tax for overseas residents who buy property here, at the rate of £1m for each £10m wealth owned here, including all accounts controlled by any bank with a branch in the City and a thorough investigation into hidden assets controlled from here in tax havens under British umbrella rule.
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    (Original post by Good bloke)
    You have a point. Collections of valuable cars are notorious for the amount of traffic they generate from the cars in the collection, and their owners are famous for their reckless behaviour when driving them.

    In this case it is particularly ominous as he only has 80 of them, and he could probably drive every single one of them every single day. Shocking!
    Yes they are. The cars in question are very wide and barely make it off the ground. Imagine trying to manoeuvre a car like that through the tight turns of central London at rush hour.

    There isn't a doubt in my mind either that they're going to put the foot down hard if and when they get the opportunity, not a very sensible way to be driving is it?
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    (Original post by Fullofsurprises)
    There should be a London Residence Tax for overseas residents who buy property here, at the rate of £1m for each £10m wealth owned here, including all accounts controlled by any bank with a branch in the City and a thorough investigation into hidden assets controlled from here in tax havens under British umbrella rule.
    Again, I agree entirely, though the rate should be £2 million a year. Why confiscate in ten years what you can confiscate in five? We'll soon drive them away, and won't have to incur the irritation of banking these pettifogging stamp duty payments.
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    Perhaps we should let the obligarchs buy up all the car parks in London. That way, they've got a place to store all their supercars, and London has a place to put all the homeless...
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    (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.
    I think automation will change this in the long term.

    When we have vast amounts of people all around the world out of work either states will run companies or massively high tax rates will be needed for universal income.


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    (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.
    As a car guy, I approve of his spending
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    (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.
    You made this thread to complain because there are people in the world richer than you?

    Lol so you're a communist.....and we all know how great that turned out
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    (Original post by cbreef)
    How much is a lot? 5%?
    5%? It's far more than that.

    The top 3000 earners pay more tax than the bottom 9 million, and our high earners as a whole pay 1/4 of the nations taxes.
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    (Original post by JoshDawg)
    5%? It's far more than that.

    The top 3000 earners pay more tax than the bottom 9 million, and our high earners as a whole pay 1/4 of the nations taxes.
    So more than 5% of our most wealthy left the UK after a rise in their taxation?
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    (Original post by cbreef)
    So more than 5% of our most wealthy left the UK after a rise in their taxation?
    Right I've quoted you thinking you meant the rich pay for only 5% of taxes.

    That being said, a 5% loss from a group that pays 1/4 of taxes, is a big loss.
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    (Original post by Fullofsurprises)
    Yes, it's oil and the way the profits were divided by western interests that creates these insanely rich families and the deep inequality in their own countries. It's our tax system that is engineered to allow them to float their boats here, with effective immunity from our laws (especially our traffic laws) and the distortions they cause to the London economy.

    It isn't ultimately these spoiled idiots that are the problem, but our own governmental system and the way it has caved to billionaire interests.
    again, its actually nothing to do with our tax laws- here they actually pay tax when they buy things,
    whereas they dont pay any back in their home gulf states, or in the main tax-havens ( Lichtenstein, monaco etc).

    the come here to buy the sort of lifestyle they cant elsewhere. their ability to do so is linked entirely to the current dollar value of oil- which is driven ( mainly by us in the west. Electric cars will be a big step to ending this relationship
 
 
 
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