Labour want MORE taxes 😳

So Labour are calling for an increase in taxes, uh, like we're not paying enough in tax already. Tax is crazy high, cost of living is crazy high, inflation is crazy high, and yet more taxes are being called for. However, I actually agree with this tax. I believe that the Conservatives, our current government, are making a mistake in where they're taxing and where they're not taxing. I'd love your thoughts on this, by the way. This is very important. So currently, right now, VAT is still 20%, Corp Tax is going up from 19% to 25%, National Insurance went, went up, business rates are still there. You've got pension contributions, you've got dividend tax, you've got income tax. Tax on tax on tax is crazy, yet the billion or the trillion-dollar corporations are able to circumnavigate corp tax. I actually think that massive companies pay masses in taxes, it's just the corp tax they manage to avoid. And it doesn't really seem fair that an entrepreneur, a small business owner, or even a self-employed person has to pay tax at source or fair corp tax, and big corporations can't. However, I believe the worst tax, the— or where the tax should be really high and it's not, is with big oil companies, gas companies making billions or trillions, uh, and not getting taxed. This to me just seems ridiculous. Why is it that people in the UK are probably getting taxed 70 pence in the pound Yeah, um, Saudi Arabian Oil Corp made 80-odd percent more profit. No windfall tax, no extra tax. Um, Shell, they did, they did $9 billion in profit just about in Q1 2022 compared to $3 billion in profit Q1 2021. No windfall tax, no extra tax. It seems crazy to me. BP, massive increase in profits, no windfall tax. So a windfall tax is when a tax gets levied on unexpected profits. Now, I'm a fan of entrepreneurs and companies and corporations making good fair money, generating economy, and not being overly penalized. But we are in a cost of living crisis. Cost of living, do you know, pound for pound, your spending power is the lowest it's been since the war. Inflation is double digits, or will be, for the first time in decades. And yet oil and gas corps are being allowed to make billions and billions in profit, and their profits tripling and going up 80%, and no extra windfall tax. Now look, I'm not saying tax them till they die, but if they're going to double or triple their profits when there's a cost of living crisis, just have a windfall tax on it. Levy a tax on unexpected profits, redistribute it a bit fairly. And here's what should be happening. What should be happening is all these extra billions from these, um, oil and gas companies should be passed on to the customer. Why are we paying thousands more a year for energy, for fuel, when these companies are doubling and tripling their profits. It's freaking outrageous. Outrageous. If you agree with me, hit the share button. I used to think, what's the point in me talking about this stuff? You know, there's a lot of things that going on, on in the world. Just focus on your own game, Rob. Don't worry about everyone else. No point ranting about all the things in government that you can't do anything about. But I've completely changed my tune on that because unless we stand up and speak out, nothing definitely will change. So you want to start a company? 20% VAT on sales. It will be 25% corp tax, 38.1% income tax, dividend tax, National Insurance, pension contributions, da da da da da da da da. But in an energy and fuel crisis, those companies can make billions and triple their profits and no extra tax. It is wrong, it's outrageous, and I agree with Labour. Uh, you better take a picture of that, you better save this video. It's not often I agree with Labour. So Labour are calling for a vote to introduce a windfall tax on oil and gas companies. I agree. They're saying it's shameful not to introduce the measure to help tackle the rising cost of living. I agree. Shadow Minister Ed Miliband told the BBC it was obscene the government had refused to bring in the policy. I agree. A windfall tax is a one-off levy on companies enjoying unexpected profits, but the Business Secretary has said it's a bad idea because it would deter firms from investing in the UK. So this is the thing, I guess. There's a lot of money that comes into the UK from these big corporations, probably goes to government, probably goes to donations, probably goes a little bit round the side. And I wonder if this is why these massive corporations get away with avoiding the corp tax and not having these windfall taxes on the billions that they're making. It is wrong when people are having to choose between heating and eating. It is wrong that the masses are really struggling to pay their bills and massive oil and gas corps are getting bigger and bigger and making more and more profit. And this is coming from an entrepreneur who likes capitalism. I believe capitalism is the best system that we've designed. I'm all for the entrepreneur, the American dream, you know, start a business, provide something useful, get paid fairly, have your— am I a parrot? You just interrupted me, Carol. But when there's a crisis, if there was a water crisis, would you want the water companies to triple their profits? Of course not. Of course not. It's absolutely crazy and outrageous, and it's got to be stopped. Um, and these windfall taxes need to stop. This is my opinion. Um, if you agree with me, then hit the share button. If you don't agree with me, then, um, let me know what you think in the comments. Um, if you ran a business which was almost entirely funded by its shareholders and you kept pissing up the wall time after time and borrow more and more money than you made, the business would go bust. Yeah, that's called a government, Jay. Because here's the thing with the business, you have to be solvent. A government can have a negative balance sheet over and over and over again and quantitative ease and print money over and over again and be in deficit over and over again and get away with it and take backhanders and make, you know, tax the small person, tax the employee, tax the small business owner, like tax the heck out of them. Yeah, it— the public sector, I believe, needs a shake-up, Jay. I really do. I interviewed a billionaire, John Caldwell, and he said, you know, he speaks to Boris and he speaks to Rishi, and I don't think the government take enough advice from entrepreneurs, people who've run real businesses. I spoke to Nigel Farage, and he says that the government mostly looked down on entrepreneurs and small businesses, you know, and the government are from Eton, and they look down on those kind of establishments and businesses and entrepreneurs. On Earth. And there needs to be a whole cultural change, I believe. Stop taxing everyone over and over and more and more and start fueling and funding the economy. Fuel the growth. What about money and subsidy for research and development? What about, um, you know, encouraging people to create products and services, to produce, to employ, to kick-start the economy? Instead, the government just tax and tax and tax and tax and tax, and they tax the wrong freaking people and the wrong companies. I'm not a Google, Apple, and big tech hater, but they get away without paying corp tax, whereas we're all paying 50, 60, and 70% tax when you roll everything in. And the big oil and gas companies, you know, they're making— so Saudi Arabian oil company became the biggest company in the world. It just usurped Apple because of a fuel, oil, and gas crisis. That just seems so wrong to me. How can that be? And they haven't been windfall taxed, and their profits are up 80-odd percent. Shell's profits are up, what, triple, nearly 300% quarter on quarter, and yet no windfall tax. Come on, Boris, Rishi, sort it out for once. Listen to Labour. They're right. Slap some windfall taxes on all these unexpected massive profits in this crisis. I think that's a good idea. Let me know what you think in the comments, by the way. Would love your thoughts. Um, thanks for tuning in. Oh, by the way, I'm on a mission to help as many people get through this cost of living crisis, maybe even start and scale your business, maybe even get better financial education and knowledge, maybe even create multiple streams of recurring income. So I've created a toolkit I have, um, written something like 35 ways to save up to half your salary a year in costs. I've written a document on how to create multiple streams of recurring income, how to start your business, and I've got various assets and resources. So if you just type toolkit in the comments, just write the word toolkit, T-O-O-L-K-I-T, I will give you a link. It might take me a little bit of a while to get through to you all, but I'll share a link with you. You can just pop your details in, no cost, and I'll give you access to 5 immediately downloadable PDF documents on saving money, on making money, on creating income, and not just surviving but thriving through these difficult financial times. I'm the author of the book Money. I'm the author of the podcast Money. I made my millions many years ago, and I'm really looking to give back and help people with the knowledge that I've gained and the content I've created. It's a new resources pack. Can see people writing toolkit in the comments, so write toolkit in the comments and I'll share a link with you and you can gain access to all of that for free. And you can get a resources email from me every week as well on resources to increase your income, save and budget well, scale your business, start your business, etc. So yeah, I can see everyone writing the word toolkit in the comments, so I'll follow up with you after this video. So, um, quick bit of news is that I finally for once agree with a Labour proposal, which is to have windfall taxes on energy companies who are making outrageous windfall profits when most of the world are struggling with the cost of living crisis. I absolutely agree they should have windfall taxes. Windfall taxes are just temporary taxes levied on companies that enjoy more than reasonable. So come on, government, sort it out and stop taxing all of us and start encouraging economic growth. Thanks for tuning in. Hit the share button right now, and remember, if you don't risk anything, you risk everything. Put toolkit in the comments for the resources I'm going to give you for free right now.