Tax on £1m Houses

September 21, 2009 by  

big_houseSo the Lib Dems want to introduce a new tax for people that own homes worth over £1 million.  This is to help people who are on a low income?

Vince Cable the Treasury spokesperson says:

“Our overall tax proposal is about lifting four million people – workers and pensioners – out of taxation and cutting taxes for people at the bottom end in a fair way.”

People on low incomes do need support but is the right way forward?

Many people these days own homes that have extremely inflated house prices – this doesn’t mean they have the cash to pay for further taxation.

In fact with the way house prices have been soaring, we could all be living in £1 million houses!

A lot of people struggle to survive these days, not just low income families.  Those with mortgages are facing ever increasing fuel bills, water bills, council tax and other financial burdens, making it a job to even ‘survive’ let alone live in any modicum of luxury

In fact what is a luxury these days?  A luxury to many is a full fridge of food, being able to pay for necessities, house repairs and that’s without thinking about holidays which for some is a ‘super luxury’.

People should be allowed to earn good salaries when they deserve it after working hard for it and be allowed to own £ million houses without being penalised for it otherwise there would be no impetus for people to succeed.

However, with so much greed being thrown in our faces these days, how about taking a good long look at all the ‘unnecessary’ wastage in government and the civil service and especially the  senior people in banking and industry who are being paid ridiculous amounts of money (look at the MG fiasco).

Before they start treading on people even more, lets see some other options.  In fact why don’t they put it to the ‘ordinary’ people to come up with suggestions. Maybe they wouldn’t like what they hear!


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