Is The Mansion Tax And The 50P Rate Going To Pay For All This?

[ToraToraTora]

http://www.bbc.co.uk/news/election-2015-32284159
To pay for all that they'll have to get it from somewhere, killing off non doms alone will cost £4-6bn! Looks like the tax and spend routine!

[jno]

it'd help towards the £8bn a year the Tories have suddenly found for the NHS, I suppose.

[naomi24]

^That makes no sense whatsoever. Labour's proposals aren't going to help pay for any Tory proposal. That would be silly.

To answer the question - no - but then Labour isn't renowned for its financial prowess or for its accurate accounting.

[joggerjayne]

How do Labour voters keep falling for the emotive expression "mansion" tax?

£2m might buy a mansion in some places. In Sussex it will buy a big house. Up in Surrey, it will buy a slightly less big house. In parts of London, it will buy a nice apartment.

If I had a "mansion" I'd hope to be looking at around ten mill.

In any case, most properties like that around here are owned by older people, who worked very hard, and bought them when they were much cheaper, and are lucky that the value has gone up so much.

So essentially, they are taxing good luck.

And, if they want to tax good luck, why not just impose a top rate tax on Lottery winnings?

Oh, hang on, I forgot ... a lot of lazy, workshy people (who generally vote Labour) spend money on the Lottery, so that wouldn't be very popular.

Okay okay, go back to taking the people who have worked hard for what they have.

Hey, isn't it ironic that they are called the Labour Party? Anyone who actually does any labour, they seem determined to penalise them. Perhaps they should change their name to the "We Like People Who Do Sod-All Party".

[craft1948]

I do sod-all JJ but I still wouldn't vote Labour...

[naomi24]

//So essentially, they are taxing good luck. //

Or more often hard work.

//why not just impose a top rate tax on Lottery winnings? //

I wonder how that idea would be received? Be fun to find out!

[joggerjayne]

The Lottery is the ultimate form of unearned income.

Labour have always been hostile to inherited money, and the Lib Dems would not let the Coalition be any more generous with IHT.

Inherited wealth is unearned income, inherited by the idle, and must be taxed !!

So, the Lottery. The ULTIMATE form of unearned income. If you win the Lottery, all you did was blow your children's Child Benefit on a risky ticket, and ...

... you "inherit" £millions of other people's money.

Why is that tax free ????

[DTCwordfan]

It won't wipe out the national deficit or debt though, Jogger - they pay on the income from the lump sum interest/dividends and all the rest though....