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, Sep 21, 14:32:59