Scotland considering Introducing a Local Income Tax and a Wealth Tax

Posted by PITHOCRATES - June 23rd, 2012

Week in Review

The UK is a social democracy.  Which means high taxes.  To pay for all of those government benefits.  Including that national health care.  Exactly the kind of thing a lot of people want for the United States.  Who hope that Obamacare will evolve into a national health service just like they have in the UK.  But there is only one problem with a generous social democracy.  It’s expensive (see John Swinney to consider new local income tax by Simon Johnson posted 6/22/2012 on The Telegraph).

The Scottish Finance Minister said he will examine how to replace council tax with a new levy “based on the ability to pay”, a phrase that has previously been synonymous with the SNP’s argument for a local income tax…

This could see residents taxed on the basis of their savings and share dividends rather than just their income. However, it is not expected that any firm proposals will emerge before the independence referendum in 2014 for fear of angering voters.

This is where Obamacare will lead us to.  To a costly social democracy.  And such a costly welfare state that they will raise our income taxes to pay for it.  And add a wealth tax.  Just like they’re talking about doing in Scotland.  Taxing our savings accounts.  And our investments.  Including our 401(k)s. 

You see, free stuff is expensive.  And is a great disincentive to work hard.  For who wants to work hard and save for their retirement while they will be taxed every step of the way?  Where they’ll tax the income we earn.  Tax the money we save for our retirement.  Tax the inheritance we pass on to our heirs.  And tax the pennies on our eyes. 

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