Community Platform campaign for the introduction of a wealth tax in the upcoming Budget. November 24, 2010
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Thanks for the following announcement from the Community Platform.
The Government is proposing to introduce a property tax in the forthcoming Budget. The definition of property likely to be used will be limited to people’s homes and is not likely to include assets such as foreign properties, stocks and bonds, land, luxury items such as paintings and vintage cars etc.
The Community Platform (a network of 30 national community organisations working to address poverty, inequality and social exclusion) is suggesting, as an alternative, to levy a wealth tax on net assets valued over €1m. This would only apply to individuals with high incomes (over €100,000 or €200,000 for a couple). Certain liabilities e.g. mortgages, borrowings would be excluded. In addition, the Community Platform is suggesting that there would be exemptions to ensure that productive assets are not levied – such as farms and business assets.
To add your voice to the petition please log onto http://www.ipetitions.com/petition/wealthtax/
Also to view a DVD of the Community Platform Wealth Tax proposal log onto here.
Please circulate details of the campaign within your organisations, amongst your members and to anybody concerned with tax justice.
I think we need a wealth tax. But and it is a big but, what do we do about tax exiles. Those with wealth abroad can go and join it. Look at Drumm, laughing at us and soon to be joined by Dunne. Smurfit is a “resident” of Monaco, and O’Brien of Portugal. Funnily the one most disliked lives in Longford and pays Irish taxes.
A wealth tax is part of a solution but only part.