Britain has proposed a one time tax on WEALTH

http://www.cnbc.com/id/48825978Deputy

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.

Comments (8)

Aug 29, 2012

Never shouldve let go of HK. Couldve all moved there.

"...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."

  • Schopenhauer
Aug 29, 2012

This will be the first of many "one-time taxes" on wealth.

And folks thought Democrats were bad.

Of course, if the US did this, with the largest military in the world, there would be no way to run. So threaten the US at your own risk. And thank god today's Democrats are largely tolerant of capitalism. It could be a lot worse.

Aug 30, 2012

" Prime Minster Nick Clegg"?? err ...

And it was quickly refuted by the conservatives (hint: they're the ones in power)

Aug 30, 2012
NewGuy:

" Prime Minster Nick Clegg"?? err ...

And it was quickly refuted by the conservatives (hint: they're the ones in power)

Exactly, anyone who listens to Nick is an idiot. It's a pure play to his core voters, may as well stand on top of Westminster shouting "love me, love me".

Aug 30, 2012

this will never ever get through, and will also help ensure no liberal democrat ever gets elected again. Rapturous joy.

Aug 30, 2012

this probably will never happen, however we will see a massive redistribution of wealth to fix the current mess we are in. weather this is through more progressive taxes or through inflation, either way the wealthy r gna get fucked.

Aug 30, 2012
leveredarb:

this probably will never happen, however we will see a massive redistribution of wealth to fix the current mess we are in. weather this is through more progressive taxes or through inflation, either way the wealthy r gna get fucked.

History says this doesn't happen.

My bet would be a serious reduction in the number of people on the planet.

Aug 30, 2012
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