Lib Dems Tax Unearned Wealth

reblogged from i-thorts' i-Politics

LIB DEMs TAX
Unearned
Wealth  

Wealth TaxNick Clegg was revising an 'old Liberal' idea when he put forth Liberal Demercrat's intentions to tax the wealthy: by rewarding 'hard work' but levying unearend wealth.

This bombshell of the Deputy PM's temporary wealth tax has shook Westminster; upsetting both Tories and Labour MPs into from their summer hiatus. Both parties have poured critisism on Mr Glegg's plans for a "time limited contribution" from society's rich.

Liberals have for decades believed in focusing tax on wealth. In his interview he spoke of "an old Liberal idea that you should be rewarding initiative and hard work but you should be making people who have unearned wealth make a contribution".
   - Nick Clegg puts space between Lib Dems and Tories with tax bombshell - Guardian Politics 29/08/12

Differences?
Mid-way through the coalition's parliment, and as all political parties gear up for the 2015 general election, Nick Clegg's trying desperately to distance Lib Dems from their Tory coalition partners. Clegg wants his party to "start spreading ... wings more ... unencumbered and unrestrained by coalition."

Further cuts
Chancellor, George Osborne, is planning to target the poor with an extra £10bn in welfare cuts (to come into inergration 2016) which were introduced in the budget. Mr Clegg -although he accepts some cuts to welfare- would rather target the top echelon "than starts at the bottom."

However, it seem unlikely that the Chanellor will be swayed by Mr Clegg's proposal.

.: George Osborne's reply to Clegg's proposal? :.