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Billionaires should pay more tax
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On the money
Elon Musk: couldnât he get by on $2bn? Britta Pedersen-Pool/Getty
Billionaires should pay more tax
Elon Musk has a talent for âprompting questions about how we should order our worldâ, says Simon Kuper in the FT. Case in point is his recent threat to move Tesla from Delaware to âfreedom-loving Texasâ, after a Delaware judge ruled that he had to return his $55.8bn pay packet â likely the largest ever â because it was too big. It raises an important question: âHow rich does anyone need to be?â More specifically, should countries raise taxes on billionaires? Not because theyâre bad people â some probably are, others arenât â and not out of jealousy. But âbecause thatâs where the money isâ.
Last year Forbes identified 2,640 billionaires in the world, up nearly 19-fold since 1987. And thanks to rampant tax-dodging, they pay lower effective income tax rates than average-wage earners. Many high-income folk â âbankers, lawyers, small-business ownersâ â oppose billionaire taxes, fearing theyâd be targeted next. But these are the very people who would benefit from the levy, since they currently shoulder so much of the tax burden. Besides, leaving the likes of Musk with, say, $2bn is hardly the Bolshevik revolution. It might even do their descendants a favour â rich heirs often suffer from purposelessness, fecklessness, âfamily rifts over who gets whatâ, and âanxiety (often justified) that everyone wants to rip them offâ. Taxing billionaires wouldnât be difficult: relatively recent developments in banking transparency make it harder than ever to hide money. The reason states donât do it is partly because the ultra-wealthy âhave captured many political systemsâ. Which is yet another reason to reduce their riches.
Heroes and villains
Villain
Rowan Atkinson, for supposedly causing a nationwide slump in electric car sales. According to the Green Alliance think tank, the public perception of EVs has been significantly damaged by an article the actor wrote last year saying he felt âdupedâ about their environmental credentials. Thatâs total nonsense, says Allister Heath in The Daily Telegraph. The reason people arenât buying EVs en masse is because âit doesnât yet make senseâ: theyâre expensive, their range is too short, and there arenât enough charging points.
Hero
Edie Ceccarelli, the oldest person in the US, who celebrated her 116th birthday on Sunday. As has become customary, says The Guardian, locals in the Californian town of Willits put on a parade for the supercentenarianâs big day, featuring the fire brigade, the rubbish truck and âa trio of moustachioed local musiciansâ. Ceccarelli has said the secret to her longevity is simple: âHave a couple of fingers of red wine with your dinner, and mind your own business.â
Villain
The British countryside, for being a âracist colonialâ white space. Wildlife and Countryside Link, a group of charities that includes the RSPCA, WWF and National Trust, said in a submission to Parliament that the countryâs green spaces are governed by âwhite British cultural valuesâ, which prevent people from other ethnic backgrounds enjoying them.
A humpback whale in Maui. M Sweet/Getty
Hero
Frodo, a battle-scarred humpback whale who has completed the longest-known journey by any member of his species. The long-distance leviathan swam nearly 7,000 miles from the Mariana Islands in the Western Pacific to Sayulita, Mexico, smashing the previous record by almost 1,000 miles.
Villain
A finance worker in Hong Kong who sent nearly ÂŁ20m to scammers after being tricked by a âdeepfakeâ video call. The unnamed employee became suspicious when he received an email, purportedly from the companyâs chief financial officer, explaining the need for a secret transaction, says CNN. But after a video call with what he thought were his co-workers â who were in fact all AI-generated deepfakes â he âput aside his doubtsâ and transferred the funds.
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Property
THE TOWNHOUSE This Grade-II listed property in the Kent town of Faversham unfolds over three storeys and a sizeable cellar, with five double bedrooms, a double-gable roof and a weatherboard rear facade overlooking a courtyard garden. It benefits from original 15th-century sash windows, a Georgian fireplace, high timber skirtings and a delicate dado rail. Faversham station is a 10-minute walk, with trains to London in 70 minutes. ÂŁ725,000.
Love etc
Hardy with his second wife, Florence. Universal History Archive/Getty
The âmodern Thomas Hardiesâ taking women for a ride
If I had to pick a âking of womenâ, says Zoe Strimpel in The Spectator, I would once have plumped for Thomas Hardy. The novelist and poet had an âoutstanding capacity to take womenâs interior lives seriouslyâ; to see individual women as âdistinct, intense and complexâ. Whether itâs Eustacia Vye in The Return of the Native or his mournful poems about his first wife Emmaâs death, these are âmoving, emotionally astute portraitsâ. But as a new biography reveals, the âsearing emotional intelligence, generosity and respectâ with which he treated women on the page was not matched off it. He was a serial cheater, always âobsessed with ever-younger modelsâ: when he was 64, he began an affair with â and later married â a 26-year-old typist named Florence Dugdale. She ended up moving into the Hardy household alongside Emma, the three of them living in an atmosphere of ânasty, swirling weirdnessâ.
It strikes me that in the post #MeToo era, there are Hardies everywhere. Women are routinely treated to the ministrations of men who profess to be âalliesâ and âultra-aware of our issuesâ, but frequently turn out to be âemotionally cruel, erratic and self-absorbedâ. Iâve been shocked at the alacrity with which the men of today can toggle between the âcorrect buzzwordsâ and the âharshest of sexual behaviourâ. Perhaps the lesson is that men who have made a study of how to âunderstand, love and respectâ women are the ones to steer clear of. Those for whom women remain an enigma may be the âmore genuine, simpler, and less heart-breakingâ option.
Hardy Women: Mothers, Sisters, Wives, Muses by Paula Byrne is available to buy here.
Inside politics
Thatcher: by no means a âkitchen goddessâ. Peter Jordan/Popperfoto/Getty
Tinned salmon and Maggieâs âmystery starterâ
The revelation that Rishi Sunak fasts for 36 hours every week might seem trifling, says Dominic Sandbrook in The Times, but âfew things tell you more about a politician than what they eat or drinkâ. Margaret Thatcher presented herself as a âkitchen goddessâ straight out of Good Housekeeping. In reality, she was a âworkaholic who relied on frozen dinners prepared by her staffâ. Dinner party guests were treated to her famous âmystery starterâ â a combination of two packs of cream cheese, a teaspoon of curry powder and a tin of beef consommĂŠ. All âmixed together and topped with a black oliveâ.
Food has always been a âpolitical propâ. Sir Robert Walpole made a point of âostentatiously eating apples from his orchard while reading letters from his gamekeeperâ, to demonstrate that he was a country squire and ânot another metropolitan politicianâ. Harold Wilson went out of his way to distance himself from âgrouse-guzzling Toriesâ. In 1962, he told the Daily Express he preferred beer to champagne, adding: âIf I had the choice between smoked salmon and tinned salmon Iâd have it tinned. With vinegar.â During his âmid-Nineties pompâ, Tony Blair announced that his favourite meal was fettucine with olive oil, sun-dried tomatoes and capers. âVery New Labour.â And back in 1991, John Major arranged to be photographed eating egg and chips at a roadside Happy Eater in Doncaster, to signal that he was âjust like you and meâ. He won the next election with the largest number of votes in British history.
Weather
Quoted
âIf history tells us anything, itâs that we never learn from history.â
American journalist Bob Herbert