Ovals wrote: Thu Dec 09, 2021 10:51 am
I like neeps wrote: Thu Dec 09, 2021 10:36 am
Lobby wrote: Thu Dec 09, 2021 9:46 am
The trouble with this is that for most people their homes are an illiquid asset, so taxing them on a theoretical increase in value which they can only realise when they sell their home doesn't really work.
Not saying property should be taxed (it should pay for care though).
Just saying, the people who vote Tory have ever increasing wealth on paper. Not even at all aligned with what's actually going on in the economy. And want to gravy train to continue, and so will vote Tory. Until the bubble bursts and they're toast.
What my house is worth is almost totally irrelevant to me - if it doubled or halved in value it would make not a jot of difference to me - other than it would affect what I am able leave to my kids.
What you leave your kids at pretty significant anyway, no?
Also what about moving house? You don't care at all if your wealth is doubled when looking at downsizing, upsizing, relocation etc? The options ever increasing wealth would offer me would be something I greatly care about.
Homeowners it is what it is. But you'd hope have the humility to release it isn't earned through hard work it's a deliberate political choice. It's the asset stripping landlords who are a concern. And the entire economy is in trouble if productivity comes from house ownership and not activity.
People who own assets are lucky the central banks globally have decided to inflate asset prices relentlessly and measures that what they are doing is wrong (house prices, stock prices of major indexes increasing in lockstep with QE) are ignored or removed from the inflation index (house prices).