One story I missed commenting on was the rather cheeky proposal by the lib dem’s for some sort of one off wealth tax to help boost public finances. Aware of the arguments against a rich tax (the Tory’s argue that the rich will be so incensed by a tax that costs them half of what they spend on Bollinger each month that they will abandon all their possessions and flee abroad screaming in horror), the lib dems counter that perhaps a one off payment to help stabilise the economy would be an acceptable compromise.
Of course predictably Osborne has countered that no, the rich would be so incensed by such a one off tax that they will spend many times more than it would cost them moving abroad to avoid it.
Oddly enough for a chancellor committed to bringing down the deficit he also spent this week talking about spending £50 billion on various “stuff” including a new runway at Heathrow….anyone care to explain to me how increasing spending while cutting taxes will solve the deficit? |-|
These Tory arguments against taxes to the wealthy (or the property tax I’ve just argued for) are starting to become almost farcical. Next thing you know, I suspect Cameron will claim that a rich tax will result in Santa (a large property and business owning non-dom) labeling the whole country as naughty and giving us all lumps of coal for Christmas (which for some hard up families struggling to heat the house in winter would probably be welcomed!) 😀
Its as stupid as the Tory’s belief that poverty stricken welfare colonies will suddenly become thriving and prosperous (that the neds & chav’s will spontaneously abandon their Burbery hats and tracky bottoms for pin-stripe suits and ties) by the government cutting benefits. I don’t know, maybe if all the unemployed put a CV under their pillow the tooth fairy will come and give them a job? :>>
The many billionaires we see in London are here for a very simple reason because they see the UK as a safe country where they are unlikely to have the corrupt tin-pot government (whom they got rich off the back of) turning on them, stripping them of all their wealth or have them arrested on trumped up charges (or murdered down some back alley). And in the UK the non-doms know they need not fear being lynched by a horde of angry locals when the revolution comes (I would disagree with them on that in the long run!). Indeed many Middle Eastern and Russian billionaires want a foot hold in Britain as the UK is their bolt hole in the case of a crisis back home. A slight increase in taxation, or indeed getting them to pay taxes in the first place, ain’t going to persuade them to leave, certainly not at the sort of rates of tax the lib dems or labour are proposing.
Indeed I saw one of this idiots the other day, out in his Ferrari, vrum, vrum, cough!…. he stalled it in the middle of the street! I was pissing myself laughing at him! :DD
Furthermore if they are all going to leave :wave:, as the Torys predict (good riddance to bad rubbish!), then we need to bring in both taxes. A 0.5% tax on wealth (or Patriot tax as I’d call it), property and financial trades coupled with a 10% departures tax of one’s wealth if you permanently move abroad. Problem solved!