Britain has proposed a one time tax on WEALTHSubscribe
Prime Minster Nick Clegg, leader of the Liberal-Democrat Party, has proposed a one-time tax on the wealth (rather than the incomes) of high-net-worth Britons. The details aren’t clear, but Clegg says the country is facing an economic war caused by a prolonged recession, and needs to tax the rich in order to avoid social unrest.
He told the Guardian that unless the country “hardwired fairness” into the budget, “I don't think the process will be either socially or politically sustainable or acceptable."
They have not come out with any specifics of just how much they are planning to tax wealth, but hell a couple percentage tax on my wealth (along with my 45-50% tax rate) would make me go running.