The Telegraph today carries a news story about someone paying £7.4 million for a handbag (Hello, Lady Bracknell!). And an opinion piece describing a wealth tax as a ‘moral abomination’. What a time to be alive.
The Telegraph today carries a news story about someone paying £7.4 million for a handbag (Hello, Lady Bracknell!). And an opinion piece describing a wealth tax as a ‘moral abomination’. What a time to be alive.
Torygraph
The bag was bought by a Japanese investor, are you suggesting we start taxing people in other countries as well. Tax is not the answer, controlled government expenditure is. Why don’t you do an investigative reporting piece on the procurement office in Whitehall? You will be shocked.
Can we not just have a higher rate of VAT for any single item worth over 10,000 ? Or is that too simple ?
Yes, but think of the employment that would have created.
Time for a Tariff on handbags...
Bloody hell! I would have made her one for 3 million.
A small country could use that money
That’s auction tipped me over the edge What a disgusting world That money could go to STARVING CHILDREN but no let’s buy a fcking handbag What is the point
If someone spent £10,000 a day, it would take about 273 years to spend £1 billion. The purpose of the global economy is to provide lives of pointless excess and waste for a small number of very rich people. They are "nomad capitalists", living outside the taxation systems of nation states.
Eat the rich.
Did #UKchancellor receive any of the VAT on the purchase, or was it magically disappeared like so much high end taxation? Put down as "expenses" to be offset against CGT, or another "Non-Dom exemption" ? What a Crock of Shite #BlueLabour are... @yvettecooper-mp.bsky.social
I guess that means America was a moral abomination after WWII.
After reading and learning just how many coups we assisted in, and other morally reprehensible things done without our knowledge, I would have to say that yes, we were. Kissinger was a rat bastard.
You seen the headlines in the comic that is the torygraph about all the money reform claims it can save Kent Council? No doubt that’ll fall apart when scrutinised
That sounds like some DOGE nonsense..
The Gilded Age 2.0 enough said.
America and the UK have given up on Democracy and Capitalism, and yearns for the days of Serfs and Aristocracy. Because Rich people are “special”, anointed by God, or something, “born that way”, and must be given VIP treatment in all things big and small.
Long haired scruffy unwashed Commies would take away our God given freedom to buy millions pound handbags. Fight back!
Who is that idiot?? Obviously not responsible enough to be in control of that sort of cash. (How much cash would you have to have to be able to contemplate spending that on a bag - & a rather dreary bag at that!) People like that deserve to be taxed.
TBF… you can’t launder money through childhood cancer - so may as well buy a bag.
No one has ever accused anyone at the Telegraph of being consistent or genuine.
That's some fucking handbag!What did it have in it?The wealth of several small nations?The contract to off the orange plague?For fucks sake,what is going on? If taxing the mega wealthy is "an abomination",what exactly is the slaughter of thousands of babies & children in Gaza & Ukraine, ‘cos,morals?
FYI it was the original Hermes Birkin handbag, once owned by actress Jane Birkin (famous in the 60s). There was a bidding war between collectors. Some people obviously have more money than sense. Tax the rich more. (I believe the buyer is Japanese.)
Jane was gorgeous , "Je'taime..." wow, definitely too much money! There are a lot of mega wealthy people in Japan, for sure! Yes, tax the rich. In the US & UK, and anywhere else it can be done.
i think paying 7.4 million pounds fir a handbag is a moral abomination
“A HANDBAG !” Spoke to my Labour MP this morning and he said there are millionaires who are very angry with Labour taxing them so far. Let alone what 75% of this country wanting to tax these greedy mega millionaires and billionaires by only 2%.
Wasn’t it always so.
Some folk have more money than sense.
But it was original Birkin.
I would've thought some of these right-wing papers might start to flirt with the idea of a wealth-tax considering that their business models are failing and they need to grow their readership—a bit like the FT has done. But no, they still just blame migrants. Must be orders coming from the top.
They'll all leave means the wealthy are effectively striking at the thought of tax parity.
Indeed...
Beggar's belief..🙄
Saw that, I have a used Tesco Carrier bag. Should anyone be interested in available for half that!
'moral abomination' suggests a particularly warped view of right and wrong. I guess on this logic causing the suffering of children is 'moral righteousness'
Well said James.👏
this one? I might have given a tenner for it... news.artnet.com/art-world/he...
So when Hermes make a handbag, it's 'crafted'. When it's made in a Vietnamese sweatshop it's just 'made'?
Interestingly, this bag used to belong to Jane Birkin herself. She was given a number of them as a thank you for designing it. She sold this one in the 1990s and donated the proceeds to AIDS charities.
Hello, is this tfl lost property....
What is that handbag made of?
Pure hypocrisy of its peak
How do I get a hold of this Lady? I have a banana mounted on black velvet, that she can buy for a mere $1 million pounds. It's a nice banana too.
Typical champagne socialist politics of envy! My grandad was unemployed in the 30s. He didn’t riot! He got on his bike, found an apartheid diamond mine to inherit, pulling himself up by his bootstraps with no help from anyone - just his own hard work!
My great-g-g-g-etc grandma was unemployed in 1075. She didn’t riot! She got on her bike, got knocked up by a French lord & her b*stard child was gifted swathes on the north which I still own. Get off my land, oik!
Interesting she had a bike in 1075, don’t recall them being round at the battle of Hastings but maybe they are somewhere in the Bayeux Tapestry…
Wat Tyler would like a word. 🫣
Oooh, is that handbag available through Amazon?
I liked the bag but Ross has them for less
I hope there was VAT on the handbag. Because that's at least 1.2 million for the treasury. Definitely time the rich paid their share of other taxes, too.
Tax is not a contribution to state funding. Earnings are about what you have left after tax. The rich would still have far more than he vast majority if wealth taxes were introduced.
So what do you think tax is? And do you understand that we pay indirect taxes too?
Rich people do not create money. Money is not a resource either. Money is state debt. IOUs that are used as currency. Taxation limits £s in circulation. Tax is £s you don't get to keep from a transaction rather than a contribution to the state.
I get where you're coming from. But that's only how it works in the fullest abstract. However the world is not a perfectly spheroid cow, wealth and money are interchangeable terms and means to people in most situations. (also the taxation bit is Full wrong but I ain't touching that mindset lmao)
What do you expect from the Torygraph. Old owners lived like feudal Lords on their own island. Like the Koch brothers, one down one to go.
The moneyed right (press all 80% of them ) support privilege and are anti govt. They have enabled the destruction of what I grew up in for 22 years of my life - a mixed economy and the undermining of what was known as society. Rampant individualism now reigns supreme even when we have a Labour govt
😒
Are you kidding? That is immoral
That’s pocket change for our incredible 1%! How many hungry kids or school lunches could Lady Bracknell have fed with her purchase? Rough guess….
Kids living in poverty and the rich paying £7.4 million for a bag that's a moral abomination!!! This has to stop! If rich people can pay stupid prices they can pay a bit more tax!
Have you got time to again attempt to humiliate and ridicule, in front of an audience, a single working class woman collecting benefits because the system is socialist for the employers and owners and capitalist for the worker James ?
Small wonder the Telegraph can't find a buyer.
What a world...a handbag sold for €8 million wtaf ? Wealth tax NOW ! #2%
Not just a wealth tax. Imagine if all the world leaders promoting themselves or selfish ultra wealthy types to be in charge (even if millions of poorer people were hugely disadvantaged) were all made to resign voluntarily at once? Replaced by nicer leaders / philanthropists. Impossible? Well
Not possible. Need Nukes not food. Well those currently in charge would say that , wouldn’t they? Pravda and Truth are the same word in two languages
2% is far too low
Example w/Pret. CEO bonus is now £5 million & counting, + year-on-year payrise. "Pret CEO handed near-£4m bonus in year staff pay was cut Pano Christou also given 27% salary rise in 2021 as chain took more than £50m in government support" www.theguardian.com/business/202...
Boycott them...if they are not paying fair wages. It's the only thing CEOs understand !
Pret are also heavily into diect & indirect wage theft. They even "borrow" from staff under dodgy payroll "errors". As I expose Pret publicly, staff contact me with issues I pass on to the press. Scroll to about 1:25 minutes "Private message of the year 2022": youtube.com/watch?v=KGtq...
I stopped using amazon nearly 10 years ago when I first read about how warehouse staff were being fired by email for taking 30 secs too long at the toilet and their drivers having to piss in bottles in their vans to make all their deliveries, while Bezos was the richest man ever to live at the time
Same here. I closed my Amz account around 2018/19 when I learnt how staff are treated & later the suicidal crisis. And I was bullied at Pret during bereavement. Not setting foot in large chains anymore. expret.org/2019/03/15/h...
I just shop local, if l can...and avoid Amazon or any big corporation ! We have to support local*.... American CEOs set the standard in gutting everything for profit.
Starting point 👉
It's absolute madness
Assemble the guillotine!
Line ‘em up & Chop chop!
No waiting around...get in line ⚖️
The bag is art.
And on the same day a genuine piece of history goes for a song…..
Eat the rich. Honest to fuck...
Fecking surreal.
Think how much good you could do with that much money. Feed millions of people; get whole villages mosquito nets to prevent malaria; pay for tens of thousands of little kids’ healthcare
Just like "literally", "morality" has been redefined.
One of those is a moral abomination.
The bottom line here is tax the rich. There's nothing immoral about this. It's not a moral abomination, & it's the right thing to do. But the government won't...why, because they've got their millionaire/ superwealthy donor pals to think about. And that applies to the other political parties too.
Wowzers! We wonder if raccoons can pay in shiny coins or just dig for treasures in the trash? A handbag for millions? We’d rather find a crunchy snack!
Yes, but is the bag sweet?
Thank you for enduring the hate in that horrible publication and reminding me why I should avoid it. They appear to have no self awareness or equality of judgement, just dog whistle journalism. Probably designed to legitimise the views of the paymasters
They weren't blaming the possibility of a wealth tax on trans people? I find that more surprising than how out of touch with people those stories are.
😠🤬😠
1st up to them 2nd diddums
It's an investment, silly!
It's a silly investment!
😆😆
It's a collectible. Tax loopholes available for assets such as handbags and artwork so they can avoid as much inheritance tax as possible.
Although we don’t know the nationality of the purchaser. It was auctioned in Paris. We should tax inherited property when it is sold.
Do they not have to pay capital gains tax?
Yes, possibly. I would imagine it is a Trust that has bought it rather than an individual but I don't know.
Do we know what the nationality of the seller is?
Possibly, but cgt is generally 24% with allowances; IHT is 40%.
In this case this rather assumes the seller is British, which seems unlikely.
I haven't read the article.
So it's a physical NFT?
Can we just dump the billionaires in the harbor this time?
SMH
If you can rent an entire city for a wedding, have a billion dollar yacht and still your net worth keeps rising, you can most definitely pay more tax.
And pay your staff a decent wage.
How about paying more tax *and* better wages to your employees? The pie is big enough for both.
For me spending that amount on a handbag is an abomination - a wicked waste of money
Thanks for that. Earnestly.
If is quite important I’d say
Interesting, what is in the eye of the beholder would make a handbag worth this price? I sold hand knotted carpets, works of art, in the 1970's, $14k average, 9x12. Why? Because they not only do not wear out, but never lose the human aspect of someone putting their heart into the product.
We need to reform the tax system. For a start raise the level of tax paid on dividends. The basic rate is 8.75%, whereas paye basic rate is 20%. It should all be declared simply as income.
The argument against that is that dividends are paid out of taxed corporate profits but wages are tax deductible. Small business owners would effectively be taxed twice on the same earnings.
Then they should pay themselves their full income as tax deductible salary subject to the normal rates of income tax & NI then. Simple.
And? I get taxed twice on my earnings. Any income to a person should be taxed at the same rate.
You have to be a limited company to pay dividends to share holders. The Ltd co, being a legal entity, pays corporation tax, not the shareholders. So you don’t actually pay tax twice.
Totally agree. It's the easiest to do and the hardest to dispute.
UK truly battling the U.S. for worst ran governments as well as their respective media against democracy and for the rich. Also both are trying to see who can aid & abet genocide the best apparently.
Did the handbag have a baby in it 😳 or your next manuscript 🤔
Regress?
'My TV's just come on on its own' 'It's not a poltergeist, is it?' 'No, it's a Sony'
Only ever one headline. THE SKY IS FALLING IN !!!!!!!!!!! Can't believe people still buy it. The Telegraph is now a very right wing version of the comic VIZ.
It actually prints articles that are easily provable lies. My ex navy dad still pays for it. My parents are beyond saving.
I am on a trip with a few people from Down Under. Same conversation on wealth tax is happening in Oz.
It’s not even a wealth tax here. It’s a tax on the EARNINGS of superannuation balances over $3m. It is still half the regular tax rate. And it excludes the first $3m. But rich people and right wing newspapers are SOBBING. About 300 people are affected. Poor bastards 🤬🤬🤬🤬
The main challenging point I see is the tax on UNrealised capital gains. You can question the legality of it. I know that in The Netherlands the courts struck it down and the government is trying to find ways to tax it anyway. My question: how can you pay tax if you don’t have the cash yet?
I am way outside my field of expertise here. Does the fund pay it on behalf of the holder? Is it all paid when it’s withdrawn? I have no idea. But I do know it’s a very very little bit of money for people who have an awful lot. And I cannot be swayed from that.
The super rich now, more so than any time in human history, have such power and such sovereignty, that they are quite literally untouchable by any normal societal conventions like morality, law, fairness, equity. If it doesn't change, it will end in violence. I am absolutely convinced of it.
A handbag for a bawbag.
That's how you know some ppl have way too much money,8 million for the Birkan bag is insane.
It was sold to a private collector from Japan. www.bbc.com/news/article...
According to Sky news it was a Japanese collector.
I am imagining a Lady Bracknell-esque pronunciation of "A moral abomination????" now
Everyone is so angry with the wealthy! They do so much good🤪
The Telegraph has become the Daily Express for people who can read without moving their lips.
Look, she worked hard to inherit and marry that money
It’s the telegraph what else do you expect from those ultra right wing hacks !
When in fact it is The Telegraph that is a 'moral abomination' and if there are any journalists still working there, they should know that 'doff cap, tug forelock' days are gone.
Taxing the rich a moral abomination - stiffing the poor and the disabled - it's what the feckless scrounging scum need. OH YEAH
The importance of being honest
I can feel a Mandy Rice-Davies moment coming on.
But is it true this time? #UnableToVerifyDetailsPublished #TelegraphApology #OopsIDidItAgain
All that money and still as dumb as a rock
The irony is lost on them. I wonder if the editors ever look at the whole paper as one…
Yes it's called money laundering!👎
While the UK Gov is concerned that disabled people have it too easy.
Need a wealth tax to upset up the gammon voters, they obviously like being shafted by the rich and powerful
🙄
People are losing jobs and struggling to make ends meet but glad the wealthy are getting tax breaks so they can purchase multi-million dollar handbags.
This story made me sick! I think of all the little children that could be fed, elderly provided with meds, homeless given shelter. For an 'advanced' society, we are so uncivilised; do better rich people! Your heart and soul will be filled when you do.
I posted this very thing yesterday In a world where children starve and lack clean each day someone buys a third hand handbag for £8million. #Priorities #BurkinBag
**water**
Billionaires are a moral abomination.
That publication lost its self awareness many years ago
It turns out that a lot of people can convince themselves of any morality they find convenient
“Ignorance is like a delicate exotic fruit: touch it and the bloom is gone.” ~ Lady B
"Only two things are infinite, the universe and human stupidity, and I'm not sure about the former," Einstein
Whoa .. £7.4 MILLION for a handbag .. is the abomination .. not wealth tax
Did they say it was someone on Pip who bought the handbag? Just wondering.
If the fuckers had paid their fair share over the past 30 years, we wouldn’t have to do it.
Complete wast of money.
Redbird continuing the tradition of the Barclay brothers at reducing the readership to those with so much wealth that anything they publish about paying a fair share of the country’s burden is seen as robbery
What is wrong with extreme corrupt capitalism?! Trillions in offshore accounts, tax evasion, fantastic inequality, nice private jets, super cars, massive nice houses, super yachts, HMRC £46billion+ uncollected taxes! Over 4.3M kids in poverty, no affordable housing, low paid workers etc, lovely!
You can explain the obscenity of poverty people living hand to mouth and on the streets the inexorable deterioration of living standards and one person spending that amount 7.4 million on a handbag and we are after 46yrs still having to explain the sheer stupidity of neoliberal economic theory
What abt economists who cannot talk abt the annual depreciation of automobiles 30+ yrs after the Moon landing when 30 yrs before engineers with slide rules designed fighter planes for WWII. How has Planned Obsolescence affected 75 yrs of Depreciation? 200,000,000 motor vehicles in 1995 in the US!
We’re living in a Punch cartoon drawn by Ayn Rand and coloured in with taxpayer-funded rage.
But, you see, a wealth tax would have meant Lady Bracknell would have to think long and hard if she really, really wanted a £7.4m handbag, rather than the impulse purchase all £1m+ handbags are meant to be.
Eat. The. Fucking. Rich.
Oh my stars!!! Yeah they need a higher tax. These people waste money. Start paying your fair share bitches!!!
Money laundering.
Lex and modified Morticia deserve each other.
It's trickle-down economics - without £7m handbags, where would all the supermarket bags-for-life come from? You're basically saying that pensioners shouldn't be able to carry their shopping. No, I haven't got time to explain it, do your own research.
no amount of "research" is going to explain that nonsense
I believe that was posted tongue-in-cheek Jane.
hard to tell...
I knew I should have used more emojis, now Jane thinks I'm a nazi 😧
apologies No cat can be a bad cat
The argument is a 'redictio ad absurdum' rhetorical technique. It is patently absurd that £7m handbags pay for granny's shopping bag, and anyone arguing against doesn't want pensioners to shop. You're right about the nuances of this stuff not being obvious though. I too get caught at times.
Except that very little “trickles” down. Same as it ever was.
And why would wealth-creators like Musk and Bezos bother to build up their businesses if they can't buy £7m handbags? We'd literally still be in the stone age. #communism
Let them buy their 7 m handbags ...just fork over 30% sales tax or some such.
I just made comment about the million$$$ trade deals happening in MLB while Medicaid is cut, education funds withheld, cost of living is skyrocketing. What a timeline!?
Heard a great explanation yesterday (& I won't be as eloquent describing it) that so what if they leave, they still OWN everything here & are not paying tax on assets HERE in the UK. So let them F off & bring in a wealth tax asap (last bit was my own eloquent words, 🤣)! It was from Gary Stephenson.
I’m not against a wealth tax, but they are not easy to implement for this very reason, very few have 10mil just sitting in a bank account. It’s in property, land, art, handbags🤯, in trusts or off shore, so to tax their wealth all those the items would need to be valued. It’s not straightforward.
Starting a sentence with "I'm not against ...... BUT" is never a good thing, lol. So what if it's difficult, it's the right thing to do so Labour should be doing it rather than taking money from the elderly or the disabled or workers earning under 150k.
I was setting out reasons it hasn’t been done by successive governments. Labour inc. IHT, CGT, Employers NI, min wage, all taxes on wealth. They aren’t taking money from the elderly either, they kept the triple lock which Tories were removing. WFA is payable if the household income is £70k.
We all know why it hasn't been done but it SHOULD be done. By doing it, it would bring on side so many workers, potentially eradicate vile reform coz people's lives would be better so they couldn't spout their bile to scare people. It's a win-win in my eyes.
There is such a thing as corporation tax et el, and if those corporations who have assets in the U.K., then off-shore profits their taxes increase exponentially, reflecting the amount they off-shored. All it needs is a political will.
‘A handbaaaaaaag?’
Bonkers!
How un self aware can you be?
If you have enough spare cash to drop £7.4 million on a handbag, then buying Telegraph article is probably chump change.
Just imagine if a wealth tax precipitated a handbag deflation spiral! Catastrophe. These commies must be stopped!
It is repugnant, but it was sold in Paris. No reason to think the purchaser was British. My guess is a gulf state.
From Japan I believe but the point stands
Think the point the poster is making, has gone over your head.
No, it hasn’t. Is it not permissible to make an adjacent observation?
On you go, but it's still irrelevant to the point the poster is making.
Ok. If that’s your view it’s fine by me.
They obviously don’t understand the word hypocrisy.
They don't care.
Huh! So paying taxes (ostensibly to help pay for public services, government and societal good) is somehow immoral? Or, is it the taxing of the greedy Takers that’s immoral? I’m confused.
I just modern day Lady Bracknelled (with added expletives) all over this story…
Hear hear well said and well highlighted… that’s almost an hospital wing, but no … and it’ll end up unused along with the all the others and the other designer crap.
growth has been stagnant since 2008 ( financial crash) incomes have fallen within the middle and working classes.The wealthiest did well out of the crash as well as COVID. As Gary Stevenson said, it’s the assets of the wealthiest that need to be taxed.
Eh??! TF IS WRONG W THE WORLD? (ok.. sorry about the 🥭moron all caps. But srsly!) Think I'll hv a $6mill dollar crypto funded banana.
How about they just pay the same percentage of their income as the rest of us? That’s not being unfair
That would be a start. 🤷
Tax wealth no wages
I'm happy to pay my share in income tax, to support those who can't. I just think the wealthy should pay their share as well.
“Won’t someone please think of the poor filthy rich people” is quite literally the Telegraphs raison d'être.
The flipside here is someone, somewhere is getting £7.4m for making a bloody handbag.
I wonder what the profit margin was on the handbag?
I wanna know how much of that handbag largesse goes into #offshore #tax-freeHavens I have ZERO problems either someone sopping cash out of a tax haven & recirculating that into the #TaxedEconomy #Velocity is typically calculated by dividing the nominal #GDP by the #money supply (M1 or M2)
At ISSUE is what #Trump | #ilDouchey threw down at the #G7: 💢Ending #OECD #Pillar2 #MinimumTax💢 It was blatant extortion: #Project2025 is #BRICS’ #oligarch-fuelled #strategy in their #fascist #GLOBAL #war against ✅ #Democracy ✅ #RuleOfLaw ✅ #HumanRights How do we protect with #NATO & #5%GDP funding⁉️
We are getting ever closer to accessories being made from the skin of the poor.
It's never called class warfare when it's the wealthy punching down and whining for more subsidies and tax exemptions like it's the end of the world if they have to send the treasury what amounts to an extra purse each year.
And what becomes of the "bag." Sits at home in a glass case? Shopped out to museums so the peasantry may view it? Stuffed with money & lipsticks & taken out to lunch with the "gals?" It's a nice enough tote, but $10m? You can buy a unused 1 for less.
What if the song sang at Trumps inauguration was literarily true? But back to front ? Mine eyes have seen the Glory ., then the last verse is God returning ? The whole anti MAGA back to front. In other words bottom to top, a literal new world order of good leaders 🙃🙃😀
“In the beauty of the Lillys Christ was born across the Sea” Again , MAGA focused on America. But the original poet was American too. Not IN America though but maybe sat in a café writing it, in what is today Jordan. Which makes perfect sense if said Sea is Galilee, a stones throw from Nazareth
Would be even funnier if today the was the day Christ returned the MAGA media were all looking in the wrong direction
It's all ego.
Wealth tax isn't just the answer Paying employees a decent living wage must happen
We actively cheer for it. And for every other type of division.
I couldn't even READ the news article which was placed on the first page of the online Associated Press. Absolutely Sickening 🤢 they considered that newsworthy.👎
Grotesque
I don't think Lady B had much of an opinion of handbags!😇
Perhaps this is the answer. Get the wealthy to pay £10m and give them a free handbag and maybe a torch.
Many of these issues become much clearer if you ask a simple question: what did they do to earn their wealth? Everyone deserves a fair reward for any real work done and real value created - but no more than a fair reward. #UnearnedWealth is a huge, huge problem.🧵
There's a lot of it about. All forms of economic rent. Over-inflated exec-level salaries & bonuses. Tax avoidance/evasion. Inheritance. Etc etc. In each case wealth is received without doing a proportionate amount of work in return - sometimes without doing any work at all. 🧵
But there is no magic money tree. Ultimately someone will have to work to create this wealth. Someone else. Thus all types of #UnearnedWealth represent a kind of legalised form of theft taken from the people who did work to create it. 🧵
People should be free to spend any wealth they have worked hard to earn in any way they like - inc £7m handbags, if they can afford them. But we should tax #UnearnedWealth at 100%. This is how high levels of inequality are created and this is the only way it can end.
On a positive note, it would seem that the orcas have heard that Nige is out patrolling UK’s waters.
Farage will explode, bloody foreign fish invading British waters 🤞😂😂😂😂😂
British waters we sold to Spain and Portugal decades ago
Ooh which shop, I must rush and get one.....oh wait, how much 🧐
I should start painting my turds gold and selling them; some of those mouth-breathing millionaires would probably buy some; they bought that guy's canned shit after all.
Paul, you've got to let this idea go mate, it's not a healthy meditation bother! 😁
But.. but.. the way I've been shitty lately..... I could make a FORTUNE!
Birkin didn't even love the bag - went back to her basket! donalclancy.wordpress.com/2025/05/22/b...
Be fair, she’s got to have something to keep her diamonds in!
Indeed. Lady Bracknell would be spinning in her grave. Hell, if I was dead, I'd be using the tools buried with me to do more than spin. The world seems to be on the brink in so many ways.
Two words ... "The Telegraph".
There isn't a single person involved with that publication that has any concept of morality.
Is that Jane B's handbag?
*remembering the 2008 recession when the WSJ did a story about a wealthy family w/4 daughters. Each girl got a nose job at 16 at a good hospital, in a private room w/private nurses. But the recession had hit them hard when Daughter #4 turned 16. She could've waited until Daddy's bank account ...
... recharged, but she opted to have surgery at 16 and recover at home, and her own mom changed her ice packs and brought her broth and vicodin. In the Comments under the story, someone wrote, "Pardon me while I puke blood" and I think of that whenever I read a story like this.*
If someone has £12m in the bank, not Main residence value, actual savings, dividends or share equity etc,then they can afford to pay more as they will make more in interest than they will have to pay. When will those who have less understand that the have’s don’t want to give the have nots anything.
Make the Billionaires stop! Media Number 1!!!
How DARE we demand hospitals and homes and food for the poor... These people were born into vast wealth therefore they deserve to have more than anyone else! I will remove and sell my own kidney and donate the proceeds to her immediately so she can also buy some more shoes
There should definitely at least be a wealth VAT so luxury items like stupid costing items like that have VAT at 50%
They've actually just done this in Malaysia, they've set a higher sales tax/VAT rate for luxury items. Will see how it works in practice.
Won't they just buy it somewhere else? People who have this amount of money tend to travel internationally.
I guess it depends on the differences. If the tax makes something £150 more it probably isn't worth the travel cost. Technically you also have to pay import tax on new items bought overseas.
This is alway the agreement against any taxation but at some point you have to draw the line and if the ultra rich aren’t paying taxes or investing in the country they are of very little value
Argument obviously but it looks like plenty of people got that autocorrect
That’s sounds like a good idea. Not sure where the cut off of would be though. I felt bad paying £200 for a handbag (a special for daughter’s wedding). I don’t understand how a person could spend that much on a handbag knowing some parents can’t afford breakfast to feed their kids.
It would take some thought and cost is relative to your situation but a sliding scale of tax would work well for VAT current rate work for £200 more for £10,000+ more again for £100,000+. I do similar for inheritance tax too
Ive been saying more VAT on luxuries for ages 👍
100% agree with you. If you can afford luxury items not necessary for day to day survival, you can most certainly pay into the health and welfare of those who can’t. Common sense. You get the money from the people that have it. Duh!
The "Birkin" bag has become a piece of art which someone was prepared to pay for. It's not a new item.
Sure okay but I’d say Art over £50k is a luxury item of a level that should have higher VAT, same goes for super yachts, private jets, fuel for both etc etc and any item that crazy expensive that only multi millionaires and billionaires buy
Museums also buy art, to conserve and protect it and enable the public to see it. If they were subject to massive taxes they'd have nothing left and our cultural heritage would be lost to the oligarchs forever.
Then exempt museums.
EDIT: Non-profit museums which are open to the public.
Lots of art in Museums is already owned by them and plenty of rich people buy art as a tax dodge and then let museums show it (cover the cost of insurance and looking after it) plus as someone else has said if it’s a museum in this country you could exempt them the extra tax
If she paid £7.4m and she paid VAT, then happy days. Maybe the answer is to increase the rate of VAT for luxury products. For lady bracknell, what's the difference to her between £7.4m and £8.4m? If you're about to drop that much on a purse, money isn't really a concern, is it
They'd just sell it somewhere else. I'm as appalled by these horrible greed merchants as anyone but we should remain clear eyed about the realities of mobile capital, up to the point that they're greed corrupts the culture and I'm not sure where you draw that line because they have expert brokers.
How much did she have left over after paying this VAT?
It was sold in Paris so we won’t be getting any VAT
The question is did she earn the £7.4m? We should tax #UnearnedWealth at 100%. The richest do not work to earn their money. Thus, someone else will have to although they will never enjoy the full benefit of their labours.
But if the rich person invested their own money to start a company that then employs the worker is the investor not due a return? What's the incentive to invest if no profit can be made? The worker's job wouldn't exist and everyone would be poorer.
How much of a return? It's interesting that several major religions have some firm opinions about usury.
I think these wealth creators, people who employ workers, should be cut some slack. But when the wealth gap between the richest and the poorest is so vast, there needs to be additional support for employees. They earn £10 an hour, while investors get literal millions. No one needs >£1b
I mean I agree. I'm all for a wealth cap at say £50m. I also think there should be a higher minimum wage. Obscene wealth is obscene. I think I basically believe in well regulated capitalism with guardrails so nobody is too rich or too poor.
I think they should be paid a fair rate for the number of hours worked per week taking into account the difficulty and skills required for their job. Not a penny more. If they do take more, they're taking wealth they did not work to create. Who did..?
Who decides that fair rate? This is what corporation tax and minimum wages are for. There's a discussion to be had about what these rates should be but capping the returns from any business venture to some arbitrary 'fair rate' would kill investment and jobs.
Corporation tax & minimum wages can't do much about inequality. They don't stop economic rent eg. The only way to have a fair society is to pay people according to the work they do and then stop paying them. It's hardly a radical idea - although it seems radical in a grossly unfair society/economy.
Who decides what is fair? We all do, together, as a society. Like most things, you'd probably get a bell curve. Anywhere in the middle will be fine.
Think for a moment who generates returns on capital. Money can't do any work. People do the work. People create all the wealth. How can you justify taking this away from them?
She would probably prefer £8.4m, to be even more exclusive.
Can she flip it ?
I mis-read that as, "£7.4 million for a handjob".
That's Prince Andrew
Your version of the story had a happy ending.
LOL
Fuuuuuuuck😳
Keeping the mega-rich slightly wealthier is literally the only reason the Torygrass has got existing.
Was the opinion piece written by a designer handbag maker?
I would love to see the Telegraph's accepted formal definition of a "moral abomination".
Agreed. It may not be legally wrong, but it’s morally wrong.
How about all governments enact a sadomasochist sociopath tax to pay for all the damage they do to human societies. We could also just lock them all up and lose the key.
This news about the bag only PROVES a wealth tax is needed and justified, and not only in the UK.
Billionaires will build back better bunkers
He's gonna taste so good we won't be able to have just one.
Need to leave room for dessert 😇
Fois gras isn't nice.
Or tax them out of existence and share the wealth as well
They won't allow that to happen unless we show them what will happen if they don't.
What's happening with Luigi? We don't hear anything in Britain.
Surely there is more than one brave American amongst the US, no?
The Democrats seem to have gone into hiding unfortunately.
Only because they themselves support the status quo
Sadly: No, the rest of 'em will start telling governments to incarcerate without due process or disappear anybody even suspected of ever alluding to eating billionaires. Wake the fuck up, y'all.
😆😆
Do you need a bag for that? There's a 10p charge.
The decent ones... that can actually be reused multiple time... cost 50p. Have a cupboard full of the 10p ones a klepto house share person uses as one trip bags. Literally a cupboard full of single-used 10p bags
They are so self-unaware...🙄
Of course a wealth tax arguably precludes your average one percenter spunking millions on pointless handbags. There's a circular logic to it I suppose.
It takes earnings of $70,000 to be in the global top 1% by income or $6m in the US by wealth. This ain't your average one percenter.
All the poverty in the world and an individual pays this much for an accessory is obscene…just like the Bezos wedding…
Please at least tell me it is a sentient AI hand handbag at £7.4m, with the latest tech, where the inside dimensions are greater than the outside dimensions.
Hermoine Granger made good use of her one 😄
Just an improved version of the old bag of lead shot in the bottom of the handbag routine using multiple ingots of Gold instead.
I would be really disappointed if there is no new tech, as after 3 months there will be so many more Chinese ripoff versions that everyone will assume that they are all ripoffs.