Comment on Most English schools handing out clothes and food to children
abrasiveteapot@sh.itjust.works 9 months agoLol. Yes you can. What’s more the absolute best wealth to tax is land/ real estate because it’s really effing hard to hide, and can’t be shifted overseas.
You can destroy its value by physically removing the building but the bulk of the value is always in the land, the building itself depreciates.
Aux@lemmy.world 9 months ago
Ok, you destroy the building and then what? Do you expect an achievement badge to appear above your head or something?
abrasiveteapot@sh.itjust.works 9 months ago
You really have reading comprehension issues don’t you ?
The post notes that it’s near impossible to hide or move real estate overseas thus making it near impossible to avoid.
Even if someone tried to avoid the tax by destroying the building you still can’t avoid it because the land is the value not the building.
Ergo you pay the property wealth tax or the government reposses the property.
Unlike cash that can be hidden the asset is visible and hence tax is easily enforced
Aux@lemmy.world 9 months ago
Did you even read the thread? I’ll repeat the question - you take the mansion, now what? How do you convert a mansion into school uniforms? Oh wait, you don’t! That changes nothing!
abrasiveteapot@sh.itjust.works 9 months ago
Yes I did read the thread, and the downvotes you constantly got indicates which of us is missing the point.
So, no, that’s not how it went.
If a government wants to place a wealth tax they pass a law that says (for example) “everyone owning a house worth more than £2m owes £10000 plus 1% of the value as wealth tax per annum”
Person A fails to pay tax, govt takes possession of house, sells it to highest bidder person b, they takes taxes payable out of sale proceeds give A whats left and transfer title to B
It’s not complicated, and the best part is you can’t hide a house, and you can’t play shelf company hidden directors jiggery pokery because if the law is written correctly the govt. can say “I don’t care who owns it, if the tax isn’t paid I take possession, end of discussion” pay up or else.
Central revenue gets their money slimey toffs get rinsed, poor people get basic services. Everyone who matters wins.