baldyman27
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I ahve been wondering about this for a while, there must be a considerable amount of money in this country held by private individuals after the boom years. Although this may seem extreme and somewhat fascist, what if the Govt. were to 'seize' a percentage of that wealth, say even 2%, with a committal to repay it with interest within a certain period of time. Would this be less expensive than borrowing on the international markets? Hugely controversial, I know, but would it ever be an option?
I ahve been wondering about this for a while, there must be a considerable amount of money in this country held by private individuals after the boom years. Although this may seem extreme and somewhat fascist, what if the Govt. were to 'seize' a percentage of that wealth, say even 2%, with a committal to repay it with interest within a certain period of time. Would this be less expensive than borrowing on the international markets? Hugely controversial, I know, but would it ever be an option?
I ahve been wondering about this for a while, there must be a considerable amount of money in this country held by private individuals after the boom years. Although this may seem extreme and somewhat fascist, what if the Govt. were to 'seize' a percentage of that wealth, say even 2%, with a committal to repay it with interest within a certain period of time. Would this be less expensive than borrowing on the international markets? Hugely controversial, I know, but would it ever be an option?
See p73 of this CB bulletin. It's an article on household's net worth:
[broken link removed]
2007 = 115bn of net financial wealth, after deducting liabilities
2007 = 485bn of housing assets
2007 = 600bn of net worth
So is that 115bn sitting in bank accounts or does it include investments, etc.? Has it ever happened in any country that the govt. did seize private wealth from individuals?
And you can add Ireland to that list , Wealth Tax was introduced in 1975 under a Fine Gael/Labour Government and abolished by FF in 1977Yes, it happened during the nazi, communist and fascist eras.
Also Italy introduce a tax on peoples wealth a few years back.
So is that 115bn sitting in bank accounts or does it include investments, etc.? Has it ever happened in any country that the govt. did seize private wealth from individuals?
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