Mansion tax, another celeb complains

[ECCOnoob]

That £1300 a year into system on top of the £130,000 land duty tax they had to pay into the system when purchasing such a property of course.

 

Yeah its shocking. They don't contribute a penny do they.

 

You are missing the point entirely. Why the hell should someone's purchase be made into affordable housing. They own it. They bought it. They do what they want with it. If I buy a mars bar with my money why should I be forced to split it up and give bits away to people who cannot afford it.

 

If they government want affordable housing paid for by the state they need to get out there and build some. Its not for earners to buy the assets for them and nor should they be punished by taxation or bullied by the socialist tribes into giving it up either.

Edited March 21, 2015 by ECCOnoob

[ubermaus]

That £1300 a year into system on top of the £130,000 land duty tax they had to pay into the system when purchasing such a property of course.

 

Yeah its shocking. They don't contribute a penny do they.

 

You are missing the point entirely. Why the hell should someone's purchase be made into affordable housing. They own it. They bought it. They do what they want with it. If I buy a mars bar with my money why should I be forced to split it up and give bits away to people who cannot afford it.

 

If they government want affordable housing paid for by the state they need to get out there and build some. Its not for earners to buy the assets for them and nor should they be punished by taxation or bullied by the socialist tribes into giving it up either.

 

No your missing the point. Its an asset, and they should be taxed on it. And if they dont like it or cant afford it, then sell or donate the asset.

Developers could turn a big decrpid house into flats. Plenty of houses just left empty in London..

 

---------- Post added 21-03-2015 at 12:53 ----------

 

Millionaires pleading poverty...some of the comments show just how out of touch they are.

 

---------- Post added 21-03-2015 at 12:56 ----------

 

A case in point sol campbell, another mansion tax complainer who said low minister wages puts him off standing for election.

Newsflash sol, people go into public service to serve others not themselves! Maybe you should downsize that mansion pal!

[carosio]

No your missing the point. Its an asset, and they should be taxed on it. And if they dont like it or cant afford it, then sell or donate the asset.

 

But according to that logic, other assets could be liable to an annual charge, ie, works of art, vintage cars, aircraft, yachts, jewelry, investment portfolios, shares, business assets. In other words, a wealth tax.

[RonJeremy]

Why should they pay tax on the asset?

It's theirs not yours? It doesn't belong to the government.

Lazy people expecting a handout from hardworking others.

[SevenRivers]

Cheryl versini (cole) or whatever is thinking of switching to another party. This follows myleene klass garage for 2 million comment and angelina jolie saying the mansion tax would put her off moving here...my advice dont move here then!

And if you want to live in a massive palace abroad like griff rhys jones be my guest.

 

We dont need scrounging celebs not paying fair share.

 

Completely flawed logic. If a political party had it in their manifesto that everybody must pay 70% income tax, would you be classed as a scrounger for objecting? I suppose all those people that protested against poll tax must have been scroungers in your book.

 

Also since when did owning property paid for with ones own earnings become scrounging?

 

I despair of this country when people think it is scrounging to keep more of the money they have earned for themselves, yet think it perfectly alight for the state to arbitrarily take more of working peoples earnings and redistribute it to people who did not earn it.

[ubermaus]

But according to that logic, other assets could be liable to an annual charge, ie, works of art, vintage cars, aircraft, yachts, jewelry, investment portfolios, shares, business assets. In other words, a wealth tax.

 

Whats wrong with a wealth tax?

 

---------- Post added 21-03-2015 at 13:27 ----------

 

Completely flawed logic. If a political party had it in their manifesto that everybody must pay 70% income tax, would you be classed as a scrounger for objecting? I suppose all those people that protested against poll tax must have been scroungers in your book.

 

Also since when did owning property paid for with ones own earnings become scrounging?

 

I despair of this country when people think it is scrounging to keep more of the money they have earned for themselves, yet think it perfectly alight for the state to arbitrarily take more of working peoples earnings and redistribute it to people who did not earn it.

 

I think it was 90% in the 70's

 

---------- Post added 21-03-2015 at 13:29 ----------

 

Why should they pay tax on the asset?

It's theirs not yours? It doesn't belong to the government.

Lazy people expecting a handout from hardworking others.

 

Plenty of hardworking people are finding it hard. You saying all millionaires are hard working and all non millionaires are lazy? Monkey logic...

[carosio]

Whats wrong with a wealth tax?

 

You could ask the French and Spanish (amongst others), and young couples struggling to build assets in a home of their own.

 

In fact, why bother, just rent instead of buying and claim everything off the state thereby avoiding any future wealth taxes.

 

 

"Wealth taxes have the net effect of pulling assets out of the free market economy, and could create recessionary effects, including job loss. A 2012 article by Forbes magazine, "A tax on wealth certainly has a negative impact on capital formation. Many family-owned businesses that are marginally profitable would find this tax to be a tremendous burden on their shareholders. While the tax may be imposed on the business owners, in many cases the only source for payment of the tax would be to take funds from (or liquidate) the business. This is why many tax policy analysts have said that a wealth tax could result in a recession by inhibiting capital formation and job creation."

 

For individuals, depending on the rate of the proposed wealth tax, impacts on stock and bond asset values could also be sufficient to create larger-scale economic impacts. The two largest areas of personal investment are personal housing and pension plans. Thus, the first source to be tapped for tax liquidity would be pension plans and financial investments. If the taxes were progressive enough, there may a recessionary effect on the economy as stock and bond assets are liquidated each year to pay ongoing wealth taxes."

[ubermaus]

You could ask the French and Spanish (amongst others), and young couples struggling to build assets in a home of their own.

 

In fact, why bother, just rent instead of buying and claim everything off the state thereby avoiding any future wealth taxes.

 

 

"Wealth taxes have the net effect of pulling assets out of the free market economy, and could create recessionary effects, including job loss. A 2012 article by Forbes magazine, "A tax on wealth certainly has a negative impact on capital formation. Many family-owned businesses that are marginally profitable would find this tax to be a tremendous burden on their shareholders. While the tax may be imposed on the business owners, in many cases the only source for payment of the tax would be to take funds from (or liquidate) the business. This is why many tax policy analysts have said that a wealth tax could result in a recession by inhibiting capital formation and job creation."

 

For individuals, depending on the rate of the proposed wealth tax, impacts on stock and bond asset values could also be sufficient to create larger-scale economic impacts. The two largest areas of personal investment are personal housing and pension plans. Thus, the first source to be tapped for tax liquidity would be pension plans and financial investments. If the taxes were progressive enough, there may a recessionary effect on the economy as stock and bond assets are liquidated each year to pay ongoing wealth taxes."

 

We should not tax mega corporations and let foreign investors drive the price of our property up then?

What about wealthy individuals paying 2% tax? Warren Buffet paying less tax than his secretary?

 

That leads to ruins, inequality- infact didn't we just have a global crisis because of GREED? have we not learnt anything.

[Penistone999]

She is a lifelong labour supporter. But now faced with the prospect of paying a bit back is considering her options

 

 

What do you mean by " paying a bit back " ?

 

Why should anyone be penalised because they can afford an expensive house ?

 

typical Labour tactic of punishing the successful .

[ubermaus]

What do you mean by " paying a bit back " ?

 

Why should anyone be penalised because they can afford an expensive house ?

 

typical Labour tactic of punishing the successful .

 

Whats stamp duty then? whats incremental income taxation?

 

Its not a punishment, its a tax.

 

---------- Post added 21-03-2015 at 14:47 ----------

 

By this logic everyone should pay a flat rate for everything. What would that do the economy?

Edited March 21, 2015 by ubermaus
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