Tuesday, September 3, 2013

The mansion tax: a patently bad tax that won’t just hit the ‘rich’

The mansion tax: a patently bad tax that won’t just hit the ‘rich’

Merryn Somerset Webb, from MoneyWeek, blog post about how The mansion tax is a patently bad tax that won’t just hit the ‘rich’

Posted by martingreen @ 05:31 PM (1189 views)
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2 thoughts on “The mansion tax: a patently bad tax that won’t just hit the ‘rich’

  • mark wadsworth says:

    The idea is not to “hit the rich” or indeed “hit hard working hard pressed pensioners” it is to raise public revenue by collecting the rental value of land instead of taxing incomes.

    I’m not sure what’s so difficult to understand about that.

    There’s always bleating when there’s a transition, but let’s imagine we’d always had LVT and only LVT, and that’s what the government has to spend.

    So everybody would decide how much he wants to spend on housing and where he’d like to live and chooses accordingly – a bit like the decision faced by every tenant and every first time buyer, it is nothing unusual or alarming or difficult.

    And then the government says “s-d this, let’s abolish LVT and have 50% income tax instead” Would people not be up in arms – what about the “hard working hard pressed” people who only live in a little house? They will really get clobbered.

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  • After rolling over and taking the Tory chunt’s Child Benefit tax/theft up the sh 1tter, do the masses care what someone like MSW thinks ?

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