This maybe the first time I disagree on the message from Gary. Winning the debate means communicating the outlines of a policy. While the Youtubers may not create it, they should have a clear idea of how it works and communicate that in simple terms so people can make a judgement.
I think Gary needs to galvanise a group of tax experts together to discuss the options. Dan Neidle is very vocal that wealth taxes won’t work, but instead advocates strongly (as do all the other tax experts and policy think tankers on the left and right) a land value tax.
Cool Hand Luke is a great movie btw.
I'm also sceptical that a wealth tax can be made workable. I dont understand why people don't simply campaign for capital gains to be taxed like income tax. LVT is interesting, but there too I haven't seen a good explanation how it would be assessed or different from a revamped council tax/rates.
Dan writes about it here: taxpolicy.org.uk/2024/10/18/h...
Ok, this makes sense. LVT by rebadging existing taxes so the mechanism is closer to LVT. I like this approach.
Yeah, it’s not LVT, but it’s getting close. It could be tax neutral unless they raise tax on larger properties. The govt could introduce new tax bands, fully abolish stamp duty (not a duty holiday which drastically raise prices), and commission a land/property valuation programme - good for growth