Britain to soak the middle class with new taxes

Deputy Prime Minister Clegg said that a new emergency tax on wealth 
is needed to protect the welfare state. 

Soak the Middle Class

Deputy Prime Minister Nick Clegg unveiled plans to hit millions of high-earning Britons with new taxes at the Liberal Democrat conference

• Clegg said he is confident that the Conservatives would sign up to new taxes on the top 10 per cent.
• No matter which party is in power the Marxist drive to re-distribute the wealth and create a welfare state goes on and on.

Millions of middle-class Britons must get ready to pay higher taxes, Nick Clegg has declared.

With the nation facing its longest period of belt-tightening since the war, the Deputy Prime Minister said the ‘top 10 per cent’ – around 3 million earning more than £50,500 – should brace themselves for new taxes.

Options include an end to tax relief on pension contributions for higher-rate taxpayers, an ‘accessions tax’ to replace inheritance tax, and further increases in capital gains tax reports the UK Daily Mail.


Born Bankrupt: State of United Kingdom
A special look at the depressing state of the UK economy, and how politicians are not seriously tackling the problems, because they are more interested in the votes for today. An economy built on debt.

Marxist Class Warfare  -  Clegg insisted that the majority of people thought that a £60,000 salary was 'a considerable amount of money'.

He told the BBC Radio 4 Today programme: 'The vast majority of people - 90 per cent of the people in the country - would think a salary of £60,000, £70,000, £80,000 is a considerable amount of money.

Clegg said he is confident that the Conservatives would sign up to new taxes on the top 10 per cent.   (UK Daily Mail)

A tax on wealth - - - not income

In an interview with The Daily Telegraph, Simon Hughes, Mr Clegg’s deputy, says that the party will unveil its position on a second spending review this week and that further welfare cuts are not acceptable without tax rises.

The Deputy Prime Minister will unveil details of a year-long tax review to study wealth taxes and other property taxes around the world. The party advocates the imposition of a mansion tax on homes worth more than £1 million.

“We almost never have had a discussion about what we should take from income and what we should take from wealth. For us, that is what we want to look at and that’s what the tax review will do… We have to make sure that people who have large assets make their contribution appropriately.”

The deputy Lib Dem leader also says that a growing number of senior Conservatives are warming to the idea of higher property taxes on the wealthy. He said the proposal came close to being implemented at this year’s budget.

“There are certainly some Tories who see the logic of a fairer system in terms of property taxation,” he says.

(UK Telegraph)


Deep in Debt:  Big bills to get bigger for UK taxpayers 
Never-ending loans to cover the cost of the First World War are still being repaid today, but the Treasury Chief is planning more. And that means a financial headache for tomorrow's children.