Should billionaires pay more tax?

Lancashire Post

Following a new report by the EU Tax Observatory, we asked people in Lancashire if billionaires should be forced to pay more tax

Transcript

00:00 Hi, I'm digital reporter Amy Seddon.

00:02 A new report by the EU Tax Observatory has found that most people pay far more tax than the super rich,

00:08 who instead use complex business structures to avoid paying it.

00:12 The EU Tax Observatory found that billionaires only pay 0.5% a year, which is much lower than the average person.

00:19 They recommend that 2% tax should be applied to billionaires every year.

00:24 With that in mind, I'm going out on the streets of Lancashire to ask people whether they think billionaires should be forced to pay more tax.

00:31 Let's see what they have to say.

00:33 Do you think billionaires should be forced to pay more tax?

00:36 Yeah, of course, they have way more than enough money than what they need to survive.

00:39 And there's very poor people who would much rather have the tax money go towards programmes that could help support them.

00:45 And the billionaires just honestly don't need it.

00:47 Do you think billionaires should be forced to pay more tax?

00:51 More tax? And I think, my opinion, can we take some money from them to the society, to the poor people?

01:01 So go further than tax and maybe take a lump sum?

01:05 Yes, more tax, yes.

01:07 Take a lump sum, do you mean?

01:09 Yes.

01:11 Why do you think that?

01:13 Because they have money, they didn't need that all money, many millions or billions,

01:17 but the poor people need some, it's important for their lives.

01:23 It's not fair that there are billionaires out there.

01:25 Yes.

01:27 Do you think billionaires should pay more tax?

01:29 Yes, I think billionaires should pay more tax.

01:31 Why do you think that?

01:33 Because the billionaires have more money, they need to help the government.

01:37 If you've got more money, should you give more money?

01:39 Yeah, they should. They have to take more responsibility because they're rich.

01:45 You think they need to give back?

01:47 Yeah, I think so.

01:49 Do you think billionaires should pay more tax?

01:51 It's not something that I feel really strongly either way about, to be honest.

01:57 It's not something that directly affects me, if you will, and I'm one of these people that,

02:01 unless it's literally on my doorstep and knocking me in the face and saying,

02:05 you know, billionaires is having this impact on you because they're paying less tax,

02:09 then I don't really feel strongly either way, to be honest.

02:13 Does it feel quite financial and away from the everyday?

02:15 Yeah, it does really.

02:17 Yeah, it's probably like if you'd ask me something about people struggling in life,

02:21 should they be paying less or, you know, for example, at university,

02:25 how do you think tax affects students,

02:27 then that might be something that I might feel I would like to have an opinion about more,

02:31 where something like billionaires, it probably just, yeah, at the moment, for me,

02:35 I've not really got a very strong comment.

02:39 But you implied then that people who are worse off should pay less tax,

02:43 are you kind of of the belief that income should match tax?

02:47 Yeah, I think so.

02:49 I think, you know, I think sometimes you see the people that are really struggling

02:53 and that little bit of extra tax can see it made so much more and make such a difference.

02:58 It might be the difference between them getting a meal on the table or not,

03:01 and I think that's the sort of stuff that I do feel strongly about.

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