And efficient use of capital is more likely with well aligned and directed incentives. I’m not suggesting this as punitive. It is also about ability to pay, the same as progressive income tax rates. Those that have benefitted most from society (as well as their own hard work and talent) putting more (per person) back in to support ongoing societal and broad economic well being. I assume we agree that is the goal, irrespective of what the optimal route to it might be.

Do you find Council Tax odd? Would you argue for something like the Poll Tax in its place?



Why the boom in private landlords until the government put in tax disincentives? Property in some ways carries low risks, and according to my homes under hammer-based research, a 2% annual return on investment would be unusually meagre even before any appreciation in the value of the asset. Obviously investment in construction and renovation is different... and wouldn’t be especially imperilled by a personal wealth tax, so far as I can see.



Did I? It sounds plausible, but I don’t remember. My point here isn’t about high tax or low, but the source of tax revenue and highlighting a source that I think has been rather neglected, imo. A new wealth tax could alleviate fiscal pressures elsewhere.



I agree with both of those statements, although I don’t see how a wealth tax or well-targeted incentives would reduce investment or make starting up less affordable. I think you’re extending my criticism of rentier capitalism to any business where there’s a rental payment.

I don't disagree with a tax system that rises the more you earn - in fact I would raise the personal allowance to £15k straight away for those whose incomes are taxed at the basic rate. The number of individuals/companies with offshore accounts is tiny in the greater scheme of events it really is.

The success of any taxation system is based on fairness and transparency - otherwise it simply will not work - the black economy in the country is colossal - doubt many drug dealers are paying their taxes, how many jobs have you had done at home for cash etc. It was no surprise that as the government lowered CT revenues began to increase.

The problem you have is tax is a global entity and as such unless it is the same everywhere you will find the clever are capable of protecting the interests of those who employ them and governments deliberately leave loop holes in legislation.

It is very likely that those who benefit most from unearned income would be those who pay IT at the higher rates, they will run bigger cars, have more expensive insurance policies, better furnishings etc - all of which will have seen them contribute far more over their life than someone who perhaps gambles their money, spends it on prostitutes or gambles it away?

The number of individuals/companies with offshore accounts might be tiny, but the money they are hiding isn't.

rlhttps://www.businessinsider.com/wealthy-money-offshore-makes-inequality-look-even-worse?r

Transparently trying to take advantage of the fact it is easier and more fun to attack a position than defend one, what tax and or public spending changes would you like to see as we emerge from this health crisis?

Just to note that is you raise the personal allowance only for those paying only basic rate income tax, around the cut-off level with the higher rate you’d get people earning more taking home less in absolute terms as well as relative to their gross pay and who would be better off with a pay cut to just below the threshold.