Wealth tax

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28 Jun 2011 12:00 AM by Faro Star rating in London. 1139 posts Send private message

Anyone think this might make a comeback?

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28 Jun 2011 4:08 PM by jek Star rating. 249 posts Send private message

jek´s avatar

It never went away.  It was just set at zero.  So doesn't take much working out as to whether it might resurface.  Interesting though cos it was Zapatero who zero-rated it.  You'd have thought a left wing party would be in favour and PP anti.

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28 Jun 2011 9:24 PM by lobin Star rating. 255 posts Send private message

 The Wealth Tax is a very expensive tax to manage as compared to the income it generates for the state.  It is time consuming and manpower heavy to investigate and review the assets and liabilities of the taxpayers.  It was eliminated for reasons of economy of means rather than based on political ideology.

As to its come back, it is anybody's guess but somehow I doubt it.  It makes more sense to increase income tax rates or VAT from the mentioned point of view.

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