The fall of the Tory party

You are reading a single comment by @NickCJ and its replies. Click here to read the full conversation.

•

Hefty

I feel like CGT and inheritance tax should be higher than income tax. Like, if you worked to earn it you should pay less tax than if you just got it for free.

•

NickCJ in reply to @Hefty

if you just got it for free

All those of us that aren't 100% bought into the labour theory of value are triggered by this statement. In a normal economy (i.e. not QE/ZIRP) there should be some sort of price for risk capital.

•

Hefty in reply to @NickCJ

Some, yes, I don’t think 100% tax would work, but the thing that separates rich and comfortable from those on the treadmill is assets, not income, and CGT is the niftiest way to tax assets without worrying about kicking Aunt Flo out of her Kensington townhouse.

About

Avatar for NickCJ @NickCJ started