Quote Originally Posted by islaydarkblue View Post
These Government ministers have no qualifications but instead they are being told what to say by their special advisers and senior civil servants.
There are plenty of examples of wealth tax systems. If I was a politician I would want a proven example to be given to me to study. Seems like even the French are trying to get rid of their system.

The current trouble is allowing income to be "saved" before tax is deducted from it. A couple with a minimum wage of ?25k each could save ?10k each and have individual incomes for tax purposes of ?15k. Take off the personal allowance if you work of say ?12k and each person pays 20% of ?3000 =?600, total ?12000.
If they didn't have the ?10000 saved, in a tax free ISA they would have each paid an extra ?2000. A total tax payment of ?5200.
Must be why the rich get richer and help to push the price of everything up for everyone.