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.

[...]

http://news.bbc.co.uk/1/hi/uk_politics/8265821.stm

In case you have no clue about why this idea is immoral, bad and totally wrong headed, go to class (scroll to 8min 37sec):

You should now read this and then read this.

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.

[...]

Daily Mail

That almost sounds like a Shiffism!

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This entry was posted on Monday, September 21st, 2009 at 12:50 pm and is filed under Economics, Insanity, Money, No no no!, Someone Stupid Said, TC TI KB.