The top figure assumes no capital flight / avoidance due to tax rises (which is nonsense).
Bottom figure doesn’t account for the millions that the UK got back in funding from the EU. So the cost to the government was far lower. Also the Tories never put the mystical “extra Brexit money” into the NHS anyway.
Tax wealth, not work. That’s how it should be
Instead of wealth tax, which will never work for a multitude of reasons (which are not related to difficulty, but actual economic issues with taxing wealth):
They should tax extra on additionally owned properties above a certain threshold. So that on your actual primary residence you pay the normal council tax, but if you own, let’s say, 5 properties, you’re taxed the normal council tax rate on your primary residence, and maybe on your 2nd, but you’re incrementally taxed more on your extra properties. Yes we’ll need to set up exemptions for non-residential properties, but there should be a clear distinction for a property that is residential; simply based on how it’s built/laid out.
This works because houses cannot be taken outside the UK, housing is in shortage and needed for our citizens to have places to live and thus if the rich choose to pivot their wealth into other assets to avoid it, the housing supply goes up and housing prices come down, but the rich still get to keep portions of their wealth in other assets, such as businesses and services that will create jobs.
and here we go again…
I wonder why the population are so comfortable to accept the lies we were told about the benefits of leaving the EU
How about we tax all these big companies who don’t pay any tax: alphabet, Amazon, Starbucks and so on. Also charge them back taxes.
Propaganda buses as usual
How is funding the nhs going?
Tax wealth not work
Even the bus is shitter lol
Wealth taxes? In 2025?
“Patriotic Millionaires” 😂
I wonder if NHS is getting that extra £350 mil a week since the UK is out of the EU.
The real method of reducing wealth inequality is a universal unimproved land value tax that we all pay. Can use it to reduce income taxes and other unproductive taxes across the board whilst bringing down house prices.
Anyone know where that specific Brexit NHS bus is right now ?
I think the best way we can tax the ‘wealthy’ is having new bands of council tax for properties over £2 million and £5 million. Actual wealth taxes may cause capital flight.
Gary Economics anyone?
Lot of overconfident idiots in this thread arguing against a wealth tax not realising “complicated” ≠ “impossible” and “difficult” ≠ “illogical”.
Whether it’s tricky to establish, necessary to be multifaceted and hopeful to push forward, it is the most feasible and most pragmatic solution to a lot of the problems that face our economy, particularly the endlessly accelerating inequality.
19 comments
Both equally wrong
The top figure assumes no capital flight / avoidance due to tax rises (which is nonsense).
Bottom figure doesn’t account for the millions that the UK got back in funding from the EU. So the cost to the government was far lower. Also the Tories never put the mystical “extra Brexit money” into the NHS anyway.
Tax wealth, not work. That’s how it should be
Instead of wealth tax, which will never work for a multitude of reasons (which are not related to difficulty, but actual economic issues with taxing wealth):
They should tax extra on additionally owned properties above a certain threshold. So that on your actual primary residence you pay the normal council tax, but if you own, let’s say, 5 properties, you’re taxed the normal council tax rate on your primary residence, and maybe on your 2nd, but you’re incrementally taxed more on your extra properties. Yes we’ll need to set up exemptions for non-residential properties, but there should be a clear distinction for a property that is residential; simply based on how it’s built/laid out.
This works because houses cannot be taken outside the UK, housing is in shortage and needed for our citizens to have places to live and thus if the rich choose to pivot their wealth into other assets to avoid it, the housing supply goes up and housing prices come down, but the rich still get to keep portions of their wealth in other assets, such as businesses and services that will create jobs.
and here we go again…
I wonder why the population are so comfortable to accept the lies we were told about the benefits of leaving the EU
How about we tax all these big companies who don’t pay any tax: alphabet, Amazon, Starbucks and so on. Also charge them back taxes.
Propaganda buses as usual
How is funding the nhs going?
Tax wealth not work
Even the bus is shitter lol
Wealth taxes? In 2025?
“Patriotic Millionaires” 😂
I wonder if NHS is getting that extra £350 mil a week since the UK is out of the EU.
The real method of reducing wealth inequality is a universal unimproved land value tax that we all pay. Can use it to reduce income taxes and other unproductive taxes across the board whilst bringing down house prices.
Anyone know where that specific Brexit NHS bus is right now ?
I think the best way we can tax the ‘wealthy’ is having new bands of council tax for properties over £2 million and £5 million. Actual wealth taxes may cause capital flight.
Gary Economics anyone?
Lot of overconfident idiots in this thread arguing against a wealth tax not realising “complicated” ≠ “impossible” and “difficult” ≠ “illogical”.
Whether it’s tricky to establish, necessary to be multifaceted and hopeful to push forward, it is the most feasible and most pragmatic solution to a lot of the problems that face our economy, particularly the endlessly accelerating inequality.
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