Tax superyachts proportionally to how cars are taxed.
callsignhotdog on
I don’t want to be cynical but I just know somebody’s going to argue why this would actually be a bad thing for the poor, like every other proposed curb on extreme wealth.
Dude4001 on
Oh wow look at that I just remembered my superyacht is registered in Monaco. Good thing I can afford tax dodging measures, with my superyacht money.
YoYo5465 on
Sounds great in theory but in practice it won’t work.
I work a medium-skilled job for a British owned and British built yacht maker (won’t say which one, but it’s one of the big 3).
There’s always unintended consequences to these sorts of plans. My company employs hundreds of people, many highly skilled at what they do to build things by hand. If we lose business – and we lost a lot of it due to sanctions to Russia and a ban on selling things to them (rightly or wrongly, I won’t get into the ethics of it) – it will inevitably mean layoffs.
My job puts food on the table and keeps a roof over my family’s head and their stomachs full. Im not wealthy by any stretch. And I’m not unique in that. It’s all very well saying “tax this” “ban that” – but what do you do about the hundreds of people who will lose their livelihoods (and the tax revenue along with it, plus paying out for unemployment) when things inevitably have consequences?
Better yet would be do invest or HELP businesses transition to a lower carbon or more efficient product.
BlueMoonCityzen on
How do you place their situs in the UK is the problem. Most of these super yachts are already registered in your classics eg Bermuda, BVI..
No-Newt6243 on
they will just register them elsewhere – these lefties just wanting tax is just dumb – encourage the rich here to spend money
Cyber_Connor on
I’m pretty sure that the people that the people that own super yachts and private jets have lots of ways to avoid any tax
Dopamine_Dopehead on
It won’t work because all the rich people will move, the only country somewhat immune to this is the US.
LJ-696 on
Right up until you figure out that they belong at a shell corp will just get registered in another nation with lower tax.
10 Comments
Tax superyachts proportionally to how cars are taxed.
I don’t want to be cynical but I just know somebody’s going to argue why this would actually be a bad thing for the poor, like every other proposed curb on extreme wealth.
Oh wow look at that I just remembered my superyacht is registered in Monaco. Good thing I can afford tax dodging measures, with my superyacht money.
Sounds great in theory but in practice it won’t work.
I work a medium-skilled job for a British owned and British built yacht maker (won’t say which one, but it’s one of the big 3).
There’s always unintended consequences to these sorts of plans. My company employs hundreds of people, many highly skilled at what they do to build things by hand. If we lose business – and we lost a lot of it due to sanctions to Russia and a ban on selling things to them (rightly or wrongly, I won’t get into the ethics of it) – it will inevitably mean layoffs.
My job puts food on the table and keeps a roof over my family’s head and their stomachs full. Im not wealthy by any stretch. And I’m not unique in that. It’s all very well saying “tax this” “ban that” – but what do you do about the hundreds of people who will lose their livelihoods (and the tax revenue along with it, plus paying out for unemployment) when things inevitably have consequences?
Better yet would be do invest or HELP businesses transition to a lower carbon or more efficient product.
How do you place their situs in the UK is the problem. Most of these super yachts are already registered in your classics eg Bermuda, BVI..
they will just register them elsewhere – these lefties just wanting tax is just dumb – encourage the rich here to spend money
I’m pretty sure that the people that the people that own super yachts and private jets have lots of ways to avoid any tax
It won’t work because all the rich people will move, the only country somewhat immune to this is the US.
Right up until you figure out that they belong at a shell corp will just get registered in another nation with lower tax.
This “could” be good news.