Capitalism, The Best Solution to Poverty

[Forty Two]

...no one ties to escape free market capitalism

The reason no one tries to escape free market capitalism is that it doesn't exist.

Well, it does, in the real world. If you're dealing with some sort of absolutist mindset, where your definition of free market capitalism is an anarcho-capitalist, stateless society where there are no laws or regulations on the market, then, sure, that imaginary world does not exist. However, to be free market capitalist does not necessitate anarchy or lawlessness. Hong Kong, Singapore, Australia, New Zealand, Switzerland, United States. On the flip side, North Korea, Venezuela, Cuba, Republic of Congo, and Eritrea, have virtually no market economy.

[mistermack]

If you look at the hubs of Capitalism, like New York and London, they solve poverty by pricing the poor out.

Without state help, that's what happens when capitalism rules.

You can't solve poverty, without fettering capitalism, but that doesn't mean you shouldn't go ahead.
As I've said many times, I would fetter it by taking your wealth when you die, and redistributing it by improving education for all, and massively raising the tax threshold before you pay any.

And of course, you have to look after the poorest. Not everyone is blessed with the ability to make pots of money. They should still be supported above a minimum level.

[Alan B]

Avoiding taxation is great. It means not paying what is not owed. I doubt you're too keen on paying more than the law says you owe, right?

There is a move afoot (or at least it has been suggested) to class tax avoidance as a criminal offence - the same as tax evasion.
To do away with 'tax avoidance' completely...

What a good idea!

[Scot Dutchy]

Inheritance tax is 70% here. For legal children 30%. It is hefty.

[mistermack]

Inheritance tax is 70% here. For legal children 30%. It is hefty.

So they discriminate against illegitimate children ???

The bastards !!!

[Forty Two]

Avoiding taxation is great. It means not paying what is not owed. I doubt you're too keen on paying more than the law says you owe, right?

There is a move afoot (or at least it has been suggested) to class tax avoidance as a criminal offence - the same as tax evasion.
To do away with 'tax avoidance' completely...

What a good idea!

What's the definition of "tax avoidance" in your locale?

Here it includes such things as lawful tax deductions, exemptions, and credits.

Evasion means illegally failing to pay taxes.

Avoidance means legally not paying taxes.

So, how much tax do you pay if you are not allowed to not pay taxes, even if you legally don't owe them? LOL.

[Alan B]

Avoiding taxation is great. It means not paying what is not owed. I doubt you're too keen on paying more than the law says you owe, right?

There is a move afoot (or at least it has been suggested) to class tax avoidance as a criminal offence - the same as tax evasion.
To do away with 'tax avoidance' completely...

What a good idea!

What's the definition of "tax avoidance" in your locale?

Here it includes such things as lawful tax deductions, exemptions, and credits.

Evasion means illegally failing to pay taxes.

Avoidance means legally not paying taxes.

The same, as I understand it. But there are so many dodgy accountants devising dodgy 'avoidance' schemes that it has become tainted with criminality. Hence the suggestion, in some quarters, to ban tax avoidance totally.
Then, of course, in the UK, the tax authorities have had their staff cut due to 'austerity' (a capitalist wheeze) that they are reduced to 'bargaining' with corporations on how much tax they should pay out of the total tax due.

[Forty Two]

Well if you ban it totally, then I guess when you do your taxes, and it's time to take a tax credit for your kids, or input a deduction for your mortgage interest, you'll have to conclude that avoiding taxes by taking those legal deductions is now illegal avoidance, and not take them.

I mean, why not just repeal all provisions of the tax code that make taxable income different than actual income?

[Alan B]

The tax avoidance schemes I'm thinking of are for those corporations and other high earners that 'salt away' large sums - millions, maybe. The mortgage interest together with similar government approved amounts (Cash ISAs, etc.) for the individual are OK and should not be touched.

[laklak]

What if we just ate the poor? Wouldn't that help?

Mind you, make sure you wash them thoroughly, they're probably covered in salmonella.

[Forty Two]

The tax avoidance schemes I'm thinking of are for those corporations and other high earners that 'salt away' large sums - millions, maybe. The mortgage interest together with similar government approved amounts (Cash ISAs, etc.) for the individual are OK and should not be touched.

Well, I'm all for stopping tax cheats, so no argument here. I was just not sure what the complaint was with "avoiding" taxes, provided it's allowed by the law. Naturally, if it's illegally hiding income that should be taxed, then people should go to jail.

[Forty Two]

What if we just ate the poor? Wouldn't that help?

Mind you, make sure you wash them thoroughly, they're probably covered in salmonella.

I prefer the American poor, who are well-fattened, and will produce a nice, marbled cut.

[Rum]

Increasingly the case here in the UK too. Fatty sugary foods are cheap...as chips.

[Forty Two]

Increasingly the case here in the UK too. Fatty sugary foods are cheap...as chips.

It's actually more expensive to buy pre-prepared foods than it is to buy health foods and make meals at home.

The fatty and sugary foods may seem cheap, but on analysis, they aren't.

[laklak]

I'd imagine for many working folk it's a time constraint, not financial. After a sweaty day at the Timkin Bearing Plant Dad just want's a goddamn beer. Mom's working the 3 to 11 at the nursing home. MickyD's lookin' good tonight, kids?

And then some of them are just fat fucks.