Post #1694559

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• @david_chisnall@infosec.exchange 2026-04-05 09:59

  @StingrayBadger @swift The very first thing I’d do is end the stupidity when you hit £100k income in the UK. You immediately lost 100% of childcare benefits and then you start losing the personal allowance. And that’s something that happens to pretend that it’s an increase in marginal tax rate, but when you are making around £125k, you have no personal allowance left. This means that someone making £200k pays a lower tax rate than someone making £110k. Eliminating all of the weirdness that happens around £100k and just bumping the tax rate at £100k would both simplify the system and raise more tax. I’d also be 100% in favour of a wealth tax. Around £5M is enough that you can live a luxurious life on the income from investments. A wealth tax that started at 3% £30M and went up after that would have zero meaningful negative impact on anyone’s standard of living. The problem is that this really needs to be done at an EU level to avoid people just leaving the country for tax purposes. The USA largely avoids this with a massive exit tax, which could also work: if you give up your UK tax-resident status and have a net worth of over £50M, you pay a one-time 50% tax. But, to be able to do any of this, you need to address the Murdoch problem. Banning foreign entities from collectively owning more than 20% of any UK media organisation would be a start. I’d also require regulatory disclosure and approval for any individual owning more than a 1-5% share in any media organisation over a certain size. If you need 51 individuals to own shares to have a controlling interest in a media company, it’s harder for one family to do it. You could drop this to 0.5% if that became a problem.

  Open ##1694560