this post was submitted on 07 Sep 2023
77 points (98.7% liked)

United Kingdom

4110 readers
458 users here now

General community for news/discussion in the UK.

Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.

Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.

Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.

Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.

If you think "reputable news source" needs some definition, by all means start a meta thread.

Posts should be manually submitted, not by bot. Link titles should not be editorialised.

Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments

Yes I did read the thread, and the downvotes you constantly got indicates which of us is missing the point.

So, no, that's not how it went.

  • If a government wants to place a wealth tax they pass a law that says (for example) "everyone owning a house worth more than £2m owes £10000 plus 1% of the value as wealth tax per annum"

  • Person A fails to pay tax, govt takes possession of house, sells it to highest bidder person b, they takes taxes payable out of sale proceeds give A whats left and transfer title to B

It's not complicated, and the best part is you can't hide a house, and you can't play shelf company hidden directors jiggery pokery because if the law is written correctly the govt. can say "I don't care who owns it, if the tax isn't paid I take possession, end of discussion" pay up or else.

Central revenue gets their money slimey toffs get rinsed, poor people get basic services. Everyone who matters wins.