An article in Sundays paper, expressed surprise that, against a backdrop of recession and job losses, the rich continue spending as normal.
Of course they do; nothing has changed for them. whilst David Cameron and the Nasties start to target benefit cuts from those who have little or nothing anyway, nothing is done about the business of tax avoidance save for the occasional bout of political posturing.
Of course it’s hard for the Nasties to consider doing anything about tax avoidance since they all use it. The current front bench consists almost entirely of millionaires, so you wouldn’t feasibly expect them to start legislating a against themselves, since many if not all of the will be engaged of some form of, legitimate, it has to be said, tax scheme.
So the message should really be for the Labour Party when it next assumes power, hopefully after the next election. We don’t really want a repeat of the Blair episode where we might have had ten years of labour in power, when all it achieved was consolidation of many Nasty policies.
So here’s my shopping list.
1. Reduce the top rate of income tax to 40%. ( yes, really).
2. Put tax avoidance on the same footings tax evasion, i.e. make it illegal.
3. Having done that simplify the tax system, to read, effectively, ” You will pay 40% tax on your earnings, bonuses,etc.”
4. If you do not, we will seize your assets in recompense, such seizures may exceed the value of what you attempted to defraud. In other words if we’re feeling Nasty, well take it all, but don’t worry we’re not going to put your children into slavery.
5. Abolish all British tax havens.
6. Scrap the non Dom rule that says billionaires living in the UK pay £30,000 a year instead of paying tax of their worldwide earnings like the US and other countries.
Phew that should do for starters. Oh and Labour need to be aggressive about the fact that there’s nothing bad about being left of centre…..
Oh, move over, I’ll do it.