But, 1. Only if it’s a one-off, so doesn’t help with day-day spending. If we make it permanent it would raise dramatically less. 2. Raising that much takes a 1% annual tax on all wealth over £500k (including property and pensions).
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One thing about wealth taxes that almost every voter agrees with is that the definition of being wealthy is an amount that exceeds their own wealth. And it's also a common feature that people won't agree that their primary residence equity and pension constitute wealth in any case.
aug 24, 2025, 10:47 am • 2 0 • view
But is still convinced that there’s untold billions to be claimed off the truly wealthy. See also council tax rebalancing.
aug 24, 2025, 11:04 am • 0 0 • view
Yep. When asked, "Do you want the super-wealthy to pay more tax?" everyone will say Yes. Yes would be my answer too. The problem is in the deceit that this would be not just a satisfying but partly symbolic "solidarity tax" but a workable way of relieving ordinary people of all tax increases.
aug 24, 2025, 11:12 am • 0 0 • view
There are wealth taxes I’d support, but it’s *for* their distorting effects not despite them. A land value tax would encourage better use of land and raise a bit of cash. That’s a wealth tax, I would probably end up paying more because it, but it would have a positive effect on society.
aug 24, 2025, 11:40 am • 2 0 • view