VAT is a tax at the moment of purchase - we've already got that for houses (stamp duty)

The mansion tax is an OWNERSHIP tax - in addition to paying income tax because you earned the money to buy stuff, and in addition to paying stamp duty when you first bought the house (like VAT when you buy a telly), you then have to go on paying further tax because of the type of asset you chose to buy.

I'm afraid there's no analogy with VAT at all

Posted By: Old Git on September 21st 2011 at 14:32:59

Message Thread

FAO Scrampton (General Chat) - Old Git, Sep 21, 11:05:18
- Talking of mansions, me, Tabitha, Torquil and Bernadette were up at Piers and Annunziata's (General Chat) - malkybarkid, Sep 21, 11:31:05
  - haha (n/m) (General Chat) - Brandonio, Sep 21, 16:24:21
  - I hate it when i get.. (General Chat) - kenny powers, Sep 21, 12:11:35
  - Chuckle (General Chat) - Old Git, Sep 21, 11:40:34
  - haha (n/m) (General Chat) - Arizona Bay, Sep 21, 11:38:28
  - lol (n/m) (General Chat) - jafski, Sep 21, 11:34:31
- a tax on the value of properties already exists (council tax) (General Chat) - Ralf Scrampton, Sep 21, 11:24:45
  - Or valuing second homes? Or valuing cash? Or valuing share portfolios? (General Chat) - Old Git, Sep 21, 11:27:09
    - it might be difficult near the threshold, but not for the really expensive stuff (General Chat) - Ralf Scrampton, Sep 21, 11:33:21
      - Or bring back the Poll Tax and then everyone pays the same (General Chat) - EtuWHO, Sep 21, 12:40:10
        
        I don't think everyone should pay the same, I see the principle behind taxing the rich (General Chat) - Old Git, Sep 21, 13:32:00
        
        so VAT should be scrapped n'all? (n/m) (General Chat) - Ralf Scrampton, Sep 21, 13:43:09
        
        Hmmm (General Chat) - Old Git, Sep 21, 13:59:57
        
        it is a tax dependent on what you choose to buy, despite you having already paid tax on ea (General Chat) - Ralf Scrampton, Sep 21, 14:23:32
        
        I would reduce tax to 5% of earnings (General Chat) - EtuWHO, Sep 21, 14:35:05
        
        VAT is a tax at the moment of purchase - we've already got that for houses (stamp duty) (General Chat) - Old Git, Sep 21, 14:32:59
        
        right... so it's the ongoing nature you dislike (which you failed to mention in your post) (General Chat) - Ralf Scrampton, Sep 21, 14:37:15
        
        Given that we already have a purchase tax (stamp duty) which you seem to have forgotten (General Chat) - Old Git, Sep 21, 14:58:21
        
        the overriding principle behind this tax is the more expensive the house you own the more (General Chat) - Ralf Scrampton, Sep 21, 15:19:15
        
        Rent it out to a Somali asylum seeker (General Chat) - Astroturf, Sep 21, 15:10:11
        
        Git for PM (n/m) (General Chat) - EtuWHO, Sep 21, 14:35:28
        
        Intelligent & Lib Dem? Nah does that work (n/m) (General Chat) - EtuWHO, Sep 21, 14:09:36
        
        Scrammers obviously is intelligent (General Chat) - Old Git, Sep 21, 14:17:33
        
        That is the Clegg effect (n/m) (General Chat) - EtuWHO, Sep 21, 14:24:04
        
        VAT is the fairest tax of all as the more you spend the more you pay (n/m) (General Chat) - EtuWHO, Sep 21, 13:55:01
        
        Excellent idea... (General Chat) - woody, Sep 21, 13:23:41
        
        because it might be that Daddy bought your house for you (General Chat) - Ralf Scrampton, Sep 21, 12:44:27
        
        And what if Daddy had worked hard? (n/m) (General Chat) - EtuWHO, Sep 21, 12:51:34
        
        and what if he didn't? (n/m) (General Chat) - Ralf Scrampton, Sep 21, 13:03:18
        
        Are you trying to say (General Chat) - EtuWHO, Sep 21, 13:53:53
        
        this is an additional tax - not to do with 'all tax laws' (n/m) (General Chat) - Ralf Scrampton, Sep 21, 14:25:13

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