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The wealthy in the UK are largely landed gentry. They can't flee with their property and if they sell it off at firesale prices to ordinary folk to avoid being
by pydry 4y ago
The wealthy in the UK are largely landed gentry. They can't flee with their property and if they sell it off at firesale prices to ordinary folk to avoid being taxed that would largely solve the housing crisis.
The problem wouldn't be that they would leave. The problem would be that they would stay and become violent.
- NovemberWhiskey 4y agohttps://www.thetimes.co.uk/sunday-times-rich-list https://www.thetimes.co.uk/sunday-times-rich-list Eyeballing this, only 11 of the top 50 richest people in the UK have property as their source of wealth.
- ambicapter 4y ago"only"? That's >20%.
- pydry 4y agoNot really sure I'd call the "Hinduja" family wealth "British" although what small % of their wealth they do have in the UK is undoubtedly in property. There's quite a number of very rich foreigners who economically have very little effect on the UK apart from monopolizing scarce inner city property.
- pg_1234 4y agoOr, for a really simple solution, tax the land. Not the structure built on it (well ... not much ... and you can often just tax that through the resources it consumes). Not only are you taxing the asset that can't flee the country, and which the poor typically don't own, you also incentivise efficient land usage (it becomes too expensive to be a NIMBY).
- ChuckNorris89 4y ago>The problem would be that they would stay and become violen So? Let them be violent. What are they gonna do? They don't have guns like in 'Merica. They're dangerous not because they'll be violent (they won't be), but because they hold missive political leverage.