I don't think everyone should pay the same, I see the principle behind taxing the rich

I don't mind income tax (actually I do, but you know what I mean). The more you earn, the more you pay, all logical and principled

What I think is unfair and unprincipled is the idea that after you've earned it, and been taxed on it, you can then be taxed again just for having spent your money on a particular asset. So you can buy several houses below ?2m, or buy shares, or racehorses, or art, or diamonds, or fine wine, or Bugattis, or helicopters or whatever - no tax. But buy a house worth more than ?2m and you get taxed (again). It's utterly illogical and unprincipled

Posted By: Old Git, Sep 21, 13:32:00