Sunday, 17 February 2013

Double Whammy Tax

The Lib Dems have hit the headlines again today for wanting to tax anything ‘precious’. Essentially Cleggers wants a fleet of taxmen to enter people’s homes and tax any jewellery, paintings, antiques and anything worth much. It seems the Liberal’s insatiable appetite for taxing anybody who has any success, something they are lacking nowadays, means he wants to tax everything twice. The dreaded Double Whammy Tax.

I don’t think this is right for two reasons. Firstly it means that taxmen can intrude into people’s homes and if they are stopped from entering the owners can be fined. Also is it right when you have bought an item, which will have some sort of direct or indirect tax attached to itm to tax it again? I think not.

No wonder then Vince Cable, who is by no means the most sane out of the nutty Lib Dems, has called the idea ‘whacky’ (at least he has some realisation on how popular his party is). However this is not so with all important party members, Tessa Munt MP thinks this is ‘an interesting idea’ and wants to put it to the vote at the Liberal Democrat conference. Knowing what the Liberals really think about wealth taxes, it has a high chance of getting through.

Why do the Liberals think that wealth taxes are a good idea? Well it goes back to that famous equality gap between the rich and poor, which of course is a stupid argument because this is a construct and not real money. This idea silly Lib Dem idea was very well put by Simon Hughes and here it is:

So essentially the Liberals want to tax everyone who they perceive to be ‘rich’. In the weird ideal world of the Lib Dem the definition of rich would also constantly change as the divide would get smaller and smaller with rich and poor becoming poorer and poorer. It is clear that the Lib Dems have no idea that money has a value, which is what really matters. Poor people need more money not a shorter gap between the wealth of them and their neighbour. People in poverty don’t take comfort in the fact that rich people are slightly poorer.

Think again Cleggers.

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