badnewswade (badnewswade) wrote in recession_uk,
badnewswade
badnewswade
recession_uk

It must be bad: They're talking about taxing the rich!

http://www.telegraph.co.uk/news/newstopics/politics/conservative/7734803/Higher-taxes-for-a-million-as-George-Osbornes-emergency-Budget-hits-investors.html

CGT on “non-business assets”, including second homes, buy-to-let properties and shares, could rise from the current 18 per cent flat rate to a top rate of 40 or even 50 per cent...

"...Mr Osborne insisted that the CGT increase was necessary in order to crack down on income tax avoidance, saying that there was an “enormous amount of income shifting”.


Crackdown on income tax avoidance? More than doubling capital gains tax? WTF?

Normally the Tories, like most politicians, are all about stomping the poor - and here they are with a proposal that you'd expect to hear from the Oldest of Old Labour. Before we know it he'll be redistributing the wealth like a motherfucker.

Christ, the deficit must really be bad. Basically there's a limit to the amount you can cut the wages of people who are already skint and after 30 years of Thatcherism the rich are the only ones with any cash left to take, so it makes sense to hit the people who are loaded.

I never thought a Tory would do something like this. Maybe it's a "Only Nixon can go to China" thing - only a right winger can take lots of money from the rich without being publicly blasted by the press as Some Sort Of Socialist.
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