Friday, 31 August 2012



The Lib-Dem's vague, ephemeral, seasonal, mystical, unfocused, uncosted, thoughtless calls for taxes on all our homes* and UK savings, without regard for the very damaging consequences, are lazy, myopic and deeply flawed. (“Nick Clegg and the big questions for all of us” – Guardian Letters 31 AUG 12).

 Such taxes would drive half the cash-starved population into greater debt and have them pay twice or thrice for investing in our national fixed assets.

The political elite and their ivy-league school chums have hidden all the surplus money offshore. Does this include Mitt Romney? There is $21 trillion in tax-havens. It is growing by $1 trillion a year. The tapeworms who suck our economies dry, then lend it back to us, are laughing all the way to the Funny-Money-Banks. Most of this “International-Free-Market” river of tax-free liquidity is siphoned from our pockets by false invoices from pretend companies on potty little islands and in bent jurisdictions such as Delaware. We give tax-relief (20% to 40%) to these back-to-back, fraudulent, sham, illegal transactions. By definition the off-shore wealth is surplus to the needs of the alleged owners.

Who, in the UK, US and EU governments and Courts, hides their family wealth off-shore? It could and should all be repatriated and invested in useful jobs for our children.  

YES – tax the rich, but do not, you deluded dummies or creepy conspirators, tax those who invest their wealth in building up their home nations; that is like consuming your own vital organs.  

Noel Hodson

(Mr) Noel Hodson OXFORD, UK 

* NB - It is nonsense to say that "Homes increase in value and confer surplus wealth without effort". Prices of UK homes rise no more rapidly than Shares, Cars, Food, Laptop Computers, etc etc.  A typical UK family invests up to 80% of their after-tax wages into their home (purchase price, 25 years mortgage interest, business overdrafts lost, personal secured loans, repairs, maintenance, improvements, local taxes, death-duties etc). Because they are fixed - and because debt-free homes are mostly owned by defenceless pensioners - and because taxing homes seems a simple, lazy way to pay for government - they make an easy target. The real economic consequences of a significant tax on home values would be catastrophic for any OECD economy.  Deny people the value of their homes and it would de-motivate a major part of the economy. Dumb, dumber and dumbest thinking. Get your minds working.

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