Recently, great interest has been paid to ideas of a British wealth tax. Britain’s struggling finances have caused eyewatering tax rises and seen the rise of the Green Party whose policy is to tax wealth.
A wealth tax is a direct tax on the value of an individual’s total net assets at a certain point in time. These assets include vehicles, jewelry, artwork/antiques, savings/investments, cash, property, intellectual property, and businesses. Such a tax would be catastrophic, as I will show.
