Quote:
Originally Posted by ianch99
I like your thinking on the avoidance aspect. You would need a variable scale to accommodate the differing degrees of wealth.
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The definition of earnings is too nuanced, deliberately so. You would need to implement via a Wealth Tax rather than an Income tax.
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Why would I need to implement a wealth tax? I do not wish to tax their wealth, just what they earn on it.
If they use it to fund companies investment etc I have no problem with it. Unearned income is where the money is just used as an investment and taxed at 20%. Don't forget no tax relief just like those on PAYE don't have now.