http://blogs.reuters.com/breakingviews/2012/11/30/uk-could-raid-the-rich-to-boost-a-poor-economy/ Sun, 28 Apr 2013 15:49:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/breakingviews/2012/11/30/uk-could-raid-the-rich-to-boost-a-poor-economy/comment-page-1/#comment-11399 Anonymous Sat, 15 Dec 2012 13:36:25 +0000 http://blogs.reuters.com/breakingviews/?p=16122#comment-11399 If Osborne wants to put money into poorer hands then he should stipulate that the richer hands spend more money. This could be the basis for a new taxing concept focussed around the problem of moving money out of richer hands. Imagine that instead of raising income taxes on the rich or taxing their properties, we stipulate that they must spend 50% (or 80% or 90%) of their income on taxable purchases. This concept would generate tax revenue. It would move cash out of rich hands. AND it would stimulate the economy. If Osborne wants to put money into poorer hands then he should stipulate that the richer hands spend more money. This could be the basis for a new taxing concept focussed around the problem of moving money out of richer hands. Imagine that instead of raising income taxes on the rich or taxing their properties, we stipulate that they must spend 50% (or 80% or 90%) of their income on taxable purchases. This concept would generate tax revenue. It would move cash out of rich hands. AND it would stimulate the economy.

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