3 ms·
There's an eye watering level of wealth at the top. Merely shifting tax burden a bit on to high end property would allow revenue neutral increased spending and
by pydry 5y ago
There's an eye watering level of wealth at the top. Merely shifting tax burden a bit on to high end property would allow revenue neutral increased spending and lower taxes on the middle and working class.
It might help keep a lid on that crisis of unaffordable housing as well that tends to follow when an excess of £££ is sloshing around.
- 88 5y agoPerhaps we could do this with an NI increase that costs higher earners more, raising the NI threshold to benefit those on lower incomes, reducing fuel duty, and providing council tax rebates for those living in lower value properties?
- kmlx 5y ago> There's an eye watering level of wealth at the top. the top 1% of UK earners account for 30% of all income tax. https://www.theguardian.com/business/2019/nov/13/richest-britain-income-tax-revenues-institute-fiscal-studies https://www.theguardian.com/business/2019/nov/13/richest-bri...
- smcl 5y ago... and could likely afford a good deal more with zero impact on their own standard of living
- cjrp 5y agoNeeds the context of what % of total wealth they own though surely?
- pydry 5y agoTop 1% of wage earners, on the other hand... arent actually that rich but are taxed a lot. In London that gets you a fairly modest flat. The stratospherically wealthy dont have salaries they own yield bearing assets and have a much lower tax burden. This is where the real fat is. Nonetheless to the average person it's easy to confuse the two groups.