Wealth tax

[NotAllThere]

Argentina already has a wealth tax - it was 0.75% in 2019. They've just increase it rather massively at the top end. It is entirely unrelated to income. If you've got assets but no income - you pay. Sell your assets if you want to eat.

Canada, France, Spain, the Netherlands, Norway, Switzerland and Italy have wealth taxes. And it only hits people with substantial assets. Like a house - but only the paid-off portion.

[NotAllThere]

A wealth tax will be introduced in the UK at some point, except it won't hit the truly wealthy. It'll be designed to maximise tax-take from the middle classes as usual.

Of course. That's were the bulk of the wealth is. You rich bastards deserve it.

[AtW]

A sensible option would have been to allow offsetting reasonably small (1% max) wealth tax against income tax paid in the same year, but that’s too sensible for this to be reality

[Gibbon]

A wealth tax will be introduced in the UK at some point, except it won't hit the truly wealthy. It'll be designed to maximise tax-take from the middle classes as usual.

Yep, as the MC are fairly static targets compared to Messrs Green etc.