HOW MUCH DO THE LIBDEMS WANT FROM YOU?

There's quite a lot of talk from the LibDems about a wealth tax over these last few weeks.  That would need people to sit down each year and work out the value of all their assets to which a percentage tax would then be applied to the total.  Not easy for the taxman to audit - will he come round to check if money is being kept under the mattress?  So a few days after raising that stupidity there appears to have been a shift in emphasis.  In today's newspaper the direction seems to have changed to 'just' a new property tax.  To quote directly from the paper "Some Lib Dems are pushing for the annual charge to be levied at as much as 1.5 per cent of the property's value". 

That's an easy tax for anyone to work out - just get an estate agent to value the house then multiply the result by 1.5%.  "A house worth £200,000? - that'll be £3,000 in tax please!"  Maybe they'll let you pay it in monthly installments at £250 to make it easy for you.  Well easy if you have a spare £250 a month to add to your existing tax bill (income tax, national insurance, VAT, petrol duties, road fund licence, the charge to watch the BBC etc. etc.).

How many of you out there are cheering on the Lib Dems for suggesting this new tax?  I mean be fair, don't we need more tax revenues because the only alternative would be to reduce our public spending?  It's not like we are overspending is it?

£12billion a year in overseas aid is £1billion a month - surely you wouldn't want to cut the amount we send to India and Pakistan (their arms race doesn't come cheap) or to various African dictators (have you seen the price of top of the range Mercedes these days)? 

Public sector guaranteed benefit pension plans get more expensive each year - rather than put money aside for your own pension isn't it fairer instead to pay that money over in tax to fund the public sector pension deficit and ensure at least they can live in relative luxury when they retire?

And don't forget that the EU needs billions from the UK.  Remember only the UK and Germany are net contributors so the other 25 'nations' need your money.  It easier for several of them than bothering to collect all their own taxes.

Actually, I forgot to ask you if you own your house?  The tax will only hit you if you do.  If you are in a social or council owned property you don't need to worry.  As well as having subsidised rent you won't have to pay a penny of this property tax.  In this case its an easy calculation how much the Lib Dems want from you.  Its a big FAT ZERO.  A vote for them will cost you nothing directly.

But if you do own your home - even if you've just struggled to buy it with a small deposit or if you are in negative equity and in fear of repossession - the calculation is easy.... the Lib Dems would want 1.5% of the house value from you this year (and next year, and next year......). 

Here's a ready reckoner for you:-

£100,000 = £1,500 a year in new tax.   
£150,000 = £2,250 a year in new tax
£200,000 = £3,000 a year in new tax    
£250,000 = £3,750 a year in new tax
£300,000 = £4,500 a year in new tax    
£400,000 = £6,000 a year in new tax.

Or even easier - whenever there is an election play safe and avoid the Lib Dems!