PoliticsNerd
There are others talking about a wealth tax and it would be interesting to know what they are suggesting, and if others have a defined policy.
Does someone have to be on You Tube before anyone takes any notice of what they’re saying?
I have linked to this comprehensive report, which proposes a number of straightforward ways that wealth could be taxed, several times but you, PN, have never shown the slightest interest in it. Which, in the light of what you say in your post, that it would be interesting to know what others are suggesting, is rather annoying.
taxingwealth.uk/wp-content/uploads/2024/04/Taxing-Wealth-Report-2024-Shorter.pdf
FWIW, Gary is not the only person proposing a ‘wealth tax’, Neil Kinnock recently suggested a 2% tax levied on ‘wealth’ of more than £10 million, perhaps Gary is running with that idea.
There are also people who are keen on the idea of a land value tax, on the grounds that land can’t be hidden away.
As far as I can see there are problems with both these proposals. Making the initial assessment would be difficult because the actual ownership of the assets which comprise the ‘wealth’ would have to be established, then they would have to be valued. How would something such as shares be valued for the purpose if taxation when their ‘value’ can change from day to day?
Land is problematic in both those areas, too, establishing ownership and establishing value. These assessments could be very expensive and so diminish the worth if the tax collected.
I think the idea of taxing the means of the accumulation of wealth is more straightforward because the information on the wealth being acquired is already available, it just needs to be taxed more progressively.
I think it
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