Daniel Hull

There is no substitute for hard work.

[Daniel Hull @Daniel_JHull]

I don’t get the principle of taxing someone’s wealth if it’s a business they own. It’s not like someone who is worth 10 million in assets, the vast majority of those assets being the business, is hoarding wealth. They are creating it. That business is valuable to the economy. I can sort of understand the argument of taxing assets such as land and houses (although I don’t agree). But why should someone building a business be forced to sell some shares or raise money to pay tax on the paper value of a business. They are taxed when they sell the business.

[Daniel Hull @Daniel_JHull]

@DanielPriestley @ArchRose90 😂😂😂

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics So do you put into your pension to avoid paying it?

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics I think the common person who publicly argues that they pay 60 percent tax should know how much tax they actually pay. Otherwise you are accepting you don’t actually know if what you say is true.

[Daniel Hull @Daniel_JHull]

You are changing it now from I pay 60
Percent to I pay 60 percent between 100-125k. That’s two different things. And any billionaires who take that sort of money from their business pay that and more when you take into account corporation tax. Your whole argument is based on false narratives. And by the way the 60 percent marginal rate of tax is not right. But you do not pay 60
Percent tax end of.

[Daniel Hull @Daniel_JHull]

I said he didn’t pay 60 percent tax on everything he earned which is correct. I also said most ordinary working people don’t pay 50 percent tax. Which is also correct. If you earn 125k a year (which is the top 10 percent of earners in the UK) you pay 38 percent. No where near 50 or 60 percent. I think it’s too high. But what he says isn’t true. What you say isn’t true

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics 38percent is the answer. So a person on 125 k pays 38 percent. Which I think is a lot. But it’s not 50 or 60. And that 38 percent includes national insurance. If a billionaire pays themself 125 k through a payroll they would also pay that amount of tax.

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics You clearly don’t or you would t be claiming to pay 60 percent tax. You never have

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics You are confusing two different things.

[Daniel Hull @Daniel_JHull]

He nor you ever paid 60 percent on all of your earnings. What you are talking about is an earnings level when they start to take away your tax free allowance. Which has an effect of you paying 60 percent on a certain amount of your earnings. You did not nor did he ever pay 60 percent on all your earnings.

Billionaires are subject to the same levels of income tax and me and you. You are talking about a billionaires wealth. But if you include our wealth (our possessions, assets, pensions, etc.) our rate of tax is much lower that our income tax to.

[Daniel Hull @Daniel_JHull]

We should discuss tax. And maybe a small increase for everyone could be the answer. The countries with the best public services in Europe, the average person tends to pay more tax . But we should also have a proper discussion on how tax money is spent, that bits always ignored and never mentioned. It’s always assumed for some reason more public spending = better public services.

[Daniel Hull @Daniel_JHull]

I don’t necessarily no. But that’s not what he’s saying and never has. Vat is a tax on spending so in a way the more you spend the more tax you pay. So people with more money pay more. I understand that it might affect lower earners more. And I’m not arguing that high taxes are right. What I’m saying is Gary makes comments about tax that are incorrect.

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics And for the record I’m not arguing that anyone should pay that rate of tax. But when people quote these headline taxes it’s just wrong. A person on 50k a year in the UK pays about 21 percent in both tax and Ni.

[Daniel Hull @Daniel_JHull]

@Halalmin @garyseconomics I don’t because a marginal rate of tax is where a tax rate between a certain amount of earnings is at a higher rate. However overall tax you don’t pay 60 percent on all your earnings. And if you think you do you don’t understand the uk tax system.

[Daniel Hull @Daniel_JHull]

If a stock rises there’s no gain until it’s sold. Thats a ridiculous argument. Would you want to be taxed on your pension pot every time the stock market went up regardless of if you have cashed it in or not.

If you buy a car for 1000 quid and you spend 200 quid on it and it’s worth 3000. Do you really think you should be taxed on the 1800 regardless of whether you’ve actually sold it for 3000 or not.

A stock can go up today and down tomorrow. You’ve made nothing until it’s sold.

[Daniel Hull @Daniel_JHull]

If you’ve ever listened to Gary he basically means income tax. His favourite line is “I paid 60 percent tax when I was the best trader in the world whilst billionaires paid none”. Even billionaires have to pay vat, council tax.

And if you knew what you were talking about you’d know my figures up there include National insurance 😂😂😂. Even children 😂😂

[Dan Neidle @DanNeidle]

Gary Stevenson clearly cares deeply about inequality, and passionately wants a wealth tax. But he is uninterested in the detail of either the problem or his solution.

He exaggerates his expertise, and his research is sloppy.

Given the size of his audience, that's a shame.

[Daniel Hull @Daniel_JHull]

@PeterMcCormack I think Starmer will survive.