Wealth tax

[AtW]

"Labour leadership hopeful Owen Smith says he would introduce a wealth tax on the richest 1% in society to fund the NHS and tackle inequality in Britain.

Mr Smith - who is challenging leader Jeremy Corbyn - said the "equality-busting" move would raise £3bn a year.

He also vowed to reinstate the 50p tax rate, strengthen workers' rights and end the public sector pay freeze, as he promised a workplace "revolution".

Setting out plans for a wealth tax, he said it would be a charge of 15% on unearned income, for example from investment, that would only apply to people earning over £150,000.

"It's time we asked the very wealthiest in our society to start paying more," Mr Smith added."

Source: Owen Smith proposes wealth tax to boost NHS spending - BBC News

[original PM]

well it is a very labour thing to do.. which is good to see the party is sticking to it's roots..

[DodgyAgent]

"Labour leadership hopeful Owen Smith says he would introduce a wealth tax on the richest 1% in society to fund the NHS and tackle inequality in Britain.

Mr Smith - who is challenging leader Jeremy Corbyn - said the "equality-busting" move would raise £3bn a year.

He also vowed to reinstate the 50p tax rate, strengthen workers' rights and end the public sector pay freeze, as he promised a workplace "revolution".

Setting out plans for a wealth tax, he said it would be a charge of 15% on unearned income, for example from investment, that would only apply to people earning over £150,000.

"It's time we asked the very wealthiest in our society to start paying more," Mr Smith added."

Source: Owen Smith proposes wealth tax to boost NHS spending - BBC News

He has a point though unless the government start showing us that they will spend this money wisely rather than just squander it then all it will do is kill off business and force more companies and higher rate tax payers to leave

[FatLazyContractor]

We, as contractors, will be safe as we are very low earners. What, like £1200 a month !

Vote Smith

[AtW]

Osborne made it easy to increase dividend taxes now, 38% "additional rate tax" would turn into first 43% (due to 50% income tax) and plus 15% on top surcharge as it's unearned income: 58%, so with 20% corp tax overall tax burden will be 66.4%, nice.

[vetran]

already being done

https://next.ft.com/content/c81ff1a0...3-71cb60e8f08c

[SueEllen]

Excellent, komrades.

Shouldn't be long before we're back to 98% again.

That would be Komrade Korbyn's policy if he had any. But then we would all get put against the wall and shot first...

[missinggreenfields]

"Labour leadership hopeful Owen Smith says he would introduce a wealth tax on the richest 1% in society to fund the NHS and tackle inequality in Britain.

Once we invoke A50, we don't need to do this though, since there will be £350 million a week invested in the NHS. I read it on a bus somewhere.

[LondonManc]

Kin ell, these socialists are good at spending someone else's money. What happens when it runs out?

[DodgyAgent]

Kin ell, these socialists are good at spending someone else's money. What happens when it runs out?

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