The hopeless perpetual losers the Lib Dems have another brilliant scheme up their sleeves. It is called ‘Subsidise To Emancipate All Littleguys or “STEAL”. Gavin Webb (who is not a rat, but who is instead a moral man with a backbone and real, red blood) left that sinking ship just in time it seems:
Lib Dem plan for £1m-property tax
The Lib Dems have outlined plans for a tax on owners of £1m-plus homes, using the proceeds to help low-paid workers.
Treasury spokesman Vince Cable says plans for a 0.5% annual levy on the most expensive homes will raise £1bn.
He told the BBC, ahead of his party conference speech, it would help fund plans to get four million people who earn less than £10,000 out of taxation.
Mr Cable warned party members of “unpopular” choices on tax and spending and branded the Tories as “dishonest”.
The new charge of 0.5% would apply to the value of a property above £1m. So if a home was worth £1.5m the 0.5% tax would apply to £500,000 of it, meaning the owner will have to pay £2,500 a year. The extra tax on a £4m property would be £15,000 a year.
The Lib Dems say about 250,000 property-owners would pay about £4,000 a year each on average mostly in the South-East of England.
In case you have no clue about why this idea is immoral, bad and totally wrong headed, go to class (scroll to 8min 37sec):
The Daily Mail has a good article about why ideas like this are not sensible, and I quote (with the priceless headline for the lulz):
So why hasn’t the Government reformed the benefit system? It’s as if they’re offering car drivers a bonus for every crash – then acting surprised when accidents shoot up.
That almost sounds like a Shiffism!