Quote:
Originally Posted by Hugh
Easy enough to exempt main residences from any ‘wealth tax"…
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But the same could apply to any asset, you buy a derelict old car, spend years and money restoring it and if rare enough and done well enough could be worth a fortune. (Replace car with boat, aeroplane, jewellery, art work, the latter especially could be lent to museums for others to enjoy.)
Taxing wealth sounds like a typical leftist mechanism on success. I think the focus maybe should be on ensuring that the very high earners pay the proper tax on income, against that of course is if too draconian they just move elsewhere.
Wonders if we could apply VAT to football transfers, it's a purchase and a luxury, 20% on some of those figures would bring in some money.