Corbyn strikes a rich vein with taxes on the very rich | Michael Meacher

In terms of the wealthy making a fair contribution to paying down the budget deficit, which is Osborne’s excuse for prolonged austerity whose real aim is to shrink the State, there are many other options to serve that goal.

One is the replacement of the regressive council tax by the much more progressive land value tax.

But there is another which has earned very little attention. That is the enormous extent of UK land and property which now operates from offshore companies and therefore in most cases pays rent to overseas landlords who pay significantly lower rates of tax.

Source: Corbyn strikes a rich vein with taxes on the very rich | Michael Meacher

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1 thought on “Corbyn strikes a rich vein with taxes on the very rich | Michael Meacher

  1. John.

    The tax rules need tearing up, they’ve evolved from the time of the middle ages somewhat but are essentially the same blunt instrument designed to keep the powers that be in the manner to which they’ve become accustomed at the expense of the plebs and slavery to a system rigged against them.

    The way forward is a meaningful and extensive tax reform, universal, unavoidable rates of which the main thrust needs needs to be land value based. It is the way to go imho, but the gilded toffs will pull every string, lever and bell they can lay their delicate hands on to get any and all attempts at it’s introduction killed off.

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