‘London, England – A new wealth tax is being proposed by the leftist wing (The Liberal Democrats) of our coalition government that will come with unprecedented powers to enter our homes and root through our personal possessions to value rings, necklaces, paintings and furniture, anything that might raise more taxes. If we refuse to be inspected or get our own valuations wrong, we would be facing fines, maybe even a jail sentence….’ source
CrusaderRabbit
FOR LIBERTY
Take one lamp-post, one rope, and a queue of politicians and bureaucrats. Figure it out. It’s way past time.
Not at all unexpected but reality will kick-in when they try to implement this nonsense. Fortunately the ability for any taxman to ascribe tax to static and difficult to value items is illusory. The politicians skite up there ability to effect this, but ignore the inegnuity of their victims to (rightfully) conceal assets. The real point here is that it is the very nature of taxation which requires scrutiny rather than the add-on blunt instruments of this type to grasp $$$.
My tax policy is this: I agree to opt out of welfarism for life and pay only consumer taxes (i.e. petrol tax to ensure I get to drive on decent roads.) Therefore I in essence become my own insurer as to health and disability needs. Equally were I to have dependent children I’d meet their health and education needs.
I truly believe that any tax on accrued capital of whatever nature that capital maybe is not fundamentally a revenue gatherer but a social tool of re-distribution.(ie estate duties, capital transfer taxes.) There has never been a government elected with the manifesto to fleece the quiet achievers so as to fund the profligate.
….in an era of wealth envy and redistribution politics.
I would like to have written into a constitution that no government can take more tax than, for example, 10% of GDP and a list of essential services that have to be provided – defence, law and order, basic amenities. Run the country on that you mong politicians!
No bribes, just the party that can do it most efficiently. 
I wonder how many of these “wealth inspectors” will turn up missing?
Proof positive of how the British welfare state is cracking under the weight of its own waste products. Demographically, economically and in terms of social values the poms are totally f**ked – and this Drinking In The Last Chance Saloon-style tax brainfart is a symptom of how far past redemption they’ve gone.
“Professional” politicians are, of course, a fundamental driver of the un-braked socialist rape train: sadly for a once great people, practical solutions exist at the opposite end of the Cosmos.
i’d like to think that we’re immune to this crap, but so far we’ve tracked Britain’s loss of liberties and suppression of free speech, their socialist indoctrination via the “education” system etc pretty accurately.
The time lag between their idiocy and ours has tended to obscure the way we follow their rotten lead.
Only a matter of time in NZ and sooner than people think.
It’s a core Labour policy to impose a CGT but currently they will exempt personal items/collectibles/art – but not physical metal/coin holdings (Gold, Silver, Plaium, etc).
HOWEVER their coalition partner the Greens also want a CGT and they most definitely want it include everything.
Given that we will have approx. NZ$85,000,000,000.00 of public debt in 2014 and rising + massively increased spending for the bribes + urgent need for immediate increased tax flow + Green Finance and revenue ministers inside cabinet + a very long standing personal bitterness and envy towards any sort of “wealth” within both parties = How long do you think it will be before Labour agree to no “exemptions/privileges” for “wealthy rich pricks” ripping “us” off (and last time rich = $60K p.a. income OR $100K nett assets/equity).
And of course to do that will require a whole new army of bureaucrats and revenuers and valuers and “inspectors” and enforcers to regularly and thoroughly check everything that you own (because currently they have no records unlike for property or businesses).
Double taxation is the opiate of the left and always has been.It wasn’t enough that the money used to purchase those assets was taxed,or that the sale of those items was taxed now they want to tax it again and I am assuming yearly like real estate is taxed here.Add in the death tax and all the local fees and we the producers are left with $.10 out of every dollar if that.
When do we say enough is enough,when do we go John Galt?
@Darin:
http://go-galt.org/Galt_Pledge/
It happens over and over again, some suicidal flaw in human nature – the result of 6 or 7 decades of relative prosperity, stability and freedom. Minds predictably revert to ideas rooted in utopian delusion.
Too many are once again clamoring for our own bondage, and if this brainwashed insanity reaches critical mass the wish will certainly come true.
The poop is gonna hit the sand pretty soon! This crap socialism in the Free World is simply not sustainable.
Mark my words – The Great Collapse is gonna start in Europe…then spread to North America…then the Far East…and then rest of the world.
Crash…Crash…Burn…Burn! The Super Great Depression!!!
HOUSE OF CARDS…it will fall! The only question is WHEN?
This tax on total accumulated wealth is insidious. Even if you create no wealth, the state steps in to take a portion of your assets simply for existing. One can justify tax policy on newly created income, but the wealth tax is beyond argument. It really is nothing more than outright robbery by the state. Fortunately, such a tax would almost certainly be unconstitutional in the U.S. Unfortunately, in the UK, the law is whatever Parliament decides it wants to be. The sky is the socialist limit.
You know for hundreds of years, the Brits got it right. They hated the frogs and spent much of the last millennium rightly at war with them. Nothing good has come out of France since Charles Martel. Yet now the UK wants to emulate the French in their drive to utopian socialism.
I hope that I live long enough to take part in the next civil war. I expect it to start in Southern Europe and spread throughout western civilization from there.