27 1 min 9 yrs

I have an article published here on the topic of the so-called Mansion Tax. Give it a whirl if you get the chance!!

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27 thoughts on “WHY THE MANSION TAX MAKES US POOR

  1. David

    You state: “Put simply, Cable wants to tax wealth itself since it is apparently no longer sufficient to tax income.”

    But Cable has explicitly tied the mansion tax proposal to the abolition of the 50% top income tax rate, with the implication that the overall tax-take would be unchanged.

  2. And what’s the commie Cable gonna to big-house/no-cash pensioners? Evict them? I’ll get the popcorn in for that one.

    Fact is the 50 per cent (in reality it’s higher) rate is such a loser it means the Treasury rakes in less than before, so the government is casting its net about looking for another way to maximise its stealing.

    Either way, I wish the very best of British to anyone who intends to cheat the taxman.

  3. I wish the very best of British to anyone who intends to cheat the taxman.

    Stupid empty-head comment. A handy Rightworld slogan with no thought for consequences.

  4. Peter –

    When something is morally right then damn the consequences. Even so, I can assure you that plenty of thought has gone into them.

  5. Pete

    Stop digging. No taxes, which is what your remark implies, = Somalia.

    I’d much prefer a civilised, if over-taxed and over-regulated society, to an anarchic no-tax one. And so would 99.99% of us if asked.

  6. Peter –

    Communism + foreign government intervention = Somalia

    No taxes = Britain prior to WWI

  7. Peter

    I entirely object to the State stealing 50% of my income. The trade off, as Cable puts it, is immoral. Taxing wealth, as opposed to income, is just sick

  8. No taxes = Britain prior to WWI

    Really? Income tax started in the 1790s (Pitt the Younger)

    And Lloyd George’s “people’s budget” was 1909. WW1 started in 1914.

  9. For over 300 years prior to WW1 the main source of government revenue was Land taxes. Prior to that, history is littered with all sorts of bizarre taxes. Pete’s tax free Nirvana never was.

  10. Peter, Colm –

    Until WWI (and for a while afterward), the vast majority of Britons didn’t pay any tax.

  11. I entirely object to the State stealing 50% of my income. The trade off, as Cable puts it, is immoral. Taxing wealth, as opposed to income, is just sick

    So are all taxes immoral? Who is going to pay for all the wars you support? And the police and law courts, which I assume you agree are legitimate functions of the state?

    If it comes to it, I would pefer the balance of tax to be levied on wealth rather than income, because tax on income discourages work and production, as I’m sure you are well aware. But you and Pete Moore seem to believe that there should be no tax on anything whatsoever. Alice in Wonderland.

  12. the vast majority of Britons didn’t pay any tax.

    Yes, and they died as paupers who couldn’t afford a doctor to treat their asthma.

  13. This is mainly to do with london, rather like the housing benefits cap. London is increasingly becoming divorced from the rest of Britain. Where else would a mansion tax affect? I thought they’d moved on from this suggestion to looking at pensions again? Be interesting to see what it is they eventually do settle on in the budget in around a fortnights time. This NHS reform bill is gonna cause a lot of trouble in the next few weeks..

  14. Peter

    I think income tax above a certain rate is wrong. As you know, I favour a flat tax of circa 20%. Hope you might agree that is NOT Alice in Wonderland.

  15. Peter –

    They died as the wealthiest people on the planet, who were becoming wealthier all the time, during the greatest economic growth in human history, with an astonishingly diverse national health system, all down to government staying out of civil society.

    If you were poor at that time you’d want to be poor in Britain rather than anywhere else.

  16. David

    A flat tax is superficially attractive. But it would mean the abolition of many allowances which make the system fairer. For example, the tax allowance for anyone over 75 is much higher than the rest of us. And it would mean the abolition of tax breaks for investing in startup companies, to give just one example.

    And in any case it would be politically impossible. Someone earning £20,000 would pay exactly the same % as someone earning £20 million. So Bob Diamond (£20 million) would pay the same rate of tax as his chauffer (£20,000). Try selling that idea in a time of austerity. Alice in Wonderland.

  17. Peter –

    When you say: “And it would mean the abolition of tax breaks for investing in startup companies, to give just one example”, do you mean in order for the State to keep looting at the level it does now?

  18. They died as the wealthiest people on the planet

    LOL! The wealthiest were in the mansions of Mayfair and Central Park and Newport Rhode Island.

    Yes, things were getting better. But the Peoples’s Budget did not come from Mars. It came from deep poverty, especially in old age, in 1909 in the richest country in the world. Which decided (against the bitter opposition of the wealthy) to do something to provide basic decency for old age, as an alternative to beggary and misery.

  19. do you mean in order for the State to keep looting at the level it does now?

    Different planets. Listening to Haydn, very calming.

  20. Peter

    Remind me of the economic growth of those countries that wisely adopt a flat tax? Our wicked tax laws are a disgrace, encourage avoidance.

  21. Peter –

    I’ll take it your argument is predicated on the State keeping up its current level of looting.

    It’s noted you concede that in 1909 we were the richest people on the planet and becoming richer still.

    Listening to Megadeth. It puts me in the mood for some trigger time.

  22. Remind me of the economic growth of those countries that wisely adopt a flat tax?

    Estonia. Yes, very comparable to the UK. Annual GDP per capita about 20% (?) of ours, no health service, no social safety net. Ever thought about why so many of them have emigrated to Belfast? Why would they leave a booming low tax nirvana for the “state theft” UK?

  23. Listening to Megadeth.?

    Who, or what?

    I recommend Haydn’s London symphonies, easily got via Itunes. Massively de-stressing.

  24. Megadeth, the great metal band founded by Dave Mustaine.

    I recommend their classic album “Peace Sells… but Who’s Buying?”

    It’s head bangingly good.

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