Also, impose even higher property taxes (at least 3% annually) to property owners who are letting their properties legally on a short-term or nightly basis; and 9% annually if renting out property illegally on short-term or nightly. Is there a study of how many properties let out short-term or nightly are owned by UK taxpayers vs. non-UK taxpayers?
Why does this article's title bring up the red herring of a wealth tax, when:
1) Wealth taxes have been tried in other countries, and have generally had a dismal track record, and
2) The real thrust of the article is that we need higher taxes on _high-value real property_ in particular: something far more conducive to taxation (as it inherently cannot be hidden or offshored, as well as being one of the most zero-sum varieties of wealth) than wealth in general?
Thanks for this analysis of how taxing the rich would be a wise decision for Rachel Reeves to make and the narrative that may prevent her for doing so. Especially pertinent is the fact that many labour MPs are millionaires and wish to avoid it.
How many of these £1 million plus properties are owned by non UK taxpayers?
Also, impose even higher property taxes (at least 3% annually) to property owners who are letting their properties legally on a short-term or nightly basis; and 9% annually if renting out property illegally on short-term or nightly. Is there a study of how many properties let out short-term or nightly are owned by UK taxpayers vs. non-UK taxpayers?
https://substack.com/@brutusmac/note/c-171227335?r=6aexdu&utm_medium=ios&utm_source=notes-share-action
Why does this article's title bring up the red herring of a wealth tax, when:
1) Wealth taxes have been tried in other countries, and have generally had a dismal track record, and
2) The real thrust of the article is that we need higher taxes on _high-value real property_ in particular: something far more conducive to taxation (as it inherently cannot be hidden or offshored, as well as being one of the most zero-sum varieties of wealth) than wealth in general?
Thanks for this analysis of how taxing the rich would be a wise decision for Rachel Reeves to make and the narrative that may prevent her for doing so. Especially pertinent is the fact that many labour MPs are millionaires and wish to avoid it.