Lib Dems plan annual property tax levy.

Jonbvn

purch wrote: »

It's easy to make up headline grabbing policies, when you have no chance of being elected into Government.

I prefer the Daily Mash statement on this issue, which is essentially the same as the above, but so much more succinct.

"The Liberal Democrats are actually very sweet. It's a bit like watching a child put on a pair of daddy's shoes, pick up his briefcase and clomp up and down the hallway pretending to be a 'businessyman'.

"Then, of course, everyone has to sit down and discuss 'plolicies' while eating invisible cake and drinking a small, plastic pot of imaginary tea."

Afriend_2

Wow, so much anger at taxing expensive homes to provide greater incentive for those on the 'dole' to work.
Admitedly there are better ways to raise tax, but it's a step in the right direction, no?

fc123

dopester wrote: »

. Some bitter medicine also needs to be dished out to the BTL crew.

That was a topical link DS. A De Bek..housewives choice

Vinces plan sounds a bit soundbitey to me...where's Sir Humphrey when you need him to explain why it wouldn't make much difference to the treasury?

The bigger meddling is all the stupid (IMO) equity share schemes. banks hoarding repos rather than selling them off to the highest bidder and the sellers holding out for 'right price'.

Anecdotal for the thread; friend of DD. Nice house, say 700k peak, he redundant (aged 50) and in good job still but not as much pay.
2 kids in pay schools.
One with my DD and they want to her carry on with 6th form...serious money though....so....
Decided to downsize to another area, perhaps release 100k?. House goes on market ......and hasn't sold.

What next? Reduce?

I will update as it's a real tale of our times...the 'wealth' in the houses turned out to not really be there. He's an accountant type so wouldn't MEW...not that type.

mewbie_2

fc123 wrote: »

Anecdotal.. 700k peak... redundant... downsize release 100k .. hasn't sold.

Yes please update.

Very scary. Comfort of house means you can sometimes think "if times ever got tough could sell and live off equity for a while".

Not nice to think of not being able to sell. No comfort blanket.

fc123

mewbie wrote: »

Yes please update.

Very scary. Comfort of house means you can sometimes think "if times ever got tough could sell and live off equity for a while".

Not nice to think of not being able to sell. No comfort blanket.

You know what Mewbie? I think loads of us had it over the past decade...maybe just subliminally under the surface.......and I will confess to it having crossed my kind for a mo at times.

I am not sure what they will do...got prize giving a in a few weeks time so will catch up then.
Will they just keep dropping until someone bites? He's smart but it's just a fairly ordinary 30's 4 bed house...nice size but nothing untoward....there's loads of them on the same St...and the next St and the next....and around the corner and up the road.

michaels

Sir_Humphrey wrote: »

I'd be interested to know how you think you can have property rights without the rule of law, and the rule of law without the state.

A whole bunch of assault rifles and an Abrahms A1 tank should keep the squatters at bay for a while.

dopester

fc123 wrote: »

Will they just keep dropping until someone bites? He's smart but it's just a fairly ordinary 30's 4 bed house...nice size but nothing untoward....there's loads of them on the same St...and the next St and the next....and around the corner and up the road.

He seems to be learning something about the dynamics of value expansion and contraction under these new market conditions. Value, or worth, can be vaporised.

BTW fc. Your stories are some of the best. Including this one which I didn't directly reply to, but enjoyed reading.

Sir_Humphrey

michaels wrote: »

A whole bunch of assault rifles and an Abrahms A1 tank should keep the squatters at bay for a while.

I have actually been to northern Kenya where an AK47 is the means of protecting goods as the state is so weak. It is not something I would wish to see happen in the UK.

As for the Vince Cable plan. This does not really chime with the Lib Dem's (silly) policy of replacing council tax with local income tax. I am a bit surprised they still have the local income tax policy. Since the revenue raised from the property tax would be given away in tax cuts, the policy is fiscally neutral, so would not pay down any national debt whatsoever. As they did not work out how houses would be valued, I suspect this is a back of the fag packet headline chaser. It certainly a potentially feasible policy however, the details would not be too difficult to work out. It seems a good redistributive idea.

I think that taxing accrued wealth (particularly unearned wealth) is a very good idea, and I would be interested in any party that could work out a detailed policy in this. Wealth taxes are charged in Switzerland (on Swiss citizens only IIRC), and I do not notice many Swiss running away abroad. I believe they are charged at between 0.3/0.5% per Annum over a certain threshold on net worth (to discount outstanding mortgages etc).

fc123

dopester wrote: »

He seems to be learning something about the dynamics of value expansion and contraction under these new market conditions. Value, or worth, can be vaporised.

BTW fc. Your stories are some of the best. Including this one which I didn't directly reply to, but enjoyed reading.

Thanks...I get about a bit and am matey with a wide range of people from super stinky rich to those barely able to put a coin in the gas meter.

Got loads more actually...but I never feel they are very appropriate to the threads sometimes.......feel I should learn how to make graphs instead.

Generali

TBH I have no problem with a wealth tax (beyond the general problem I have with taxes). The suggested tax however seems to be a particularly blunt tool to use.