Some joker on Radio 2 claims there should be an over 50s wealth tax

[centurian]

If Labour win, this is going to happen. An overall wealth tax. A windfall tax for people.

They will assess your overall wealth (your property equity, pension, savings, the shirt on your back). If it is above the average, it will be taken and given to those below the average until everyone is at the average.

It's only fair™

And the LibDem's proposed "mansion tax" is one example. It taxes you based upon what you have, not what you earn.

There are quite a few people in central London that have "million pound homes", yet are on very modest disposable incomes, either because they simply don't earn much in the first place (bought years ago, now retired), or because have a huge mortgage and most of their income goes to pay it.