Isn't this really just a move from income tax towards a resource based tax? Why should those having exclusive use of resources get a tax free benefit, while all the hard working people provide the tax? Surely this policy just tries to find a balance between resource and income tax to ensure no particular group in society is gaining at the expense of others?
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Facebook TwitterThe proposed policy is not a tax on “success”. In fact, it is a tax on failure because those with successful, income-generating investments would pay less under a capital tax than under an income tax. Those with unsuccessful, wasteful investments (or overpriced homes) that don’t generate income are the only ones who would pay more. People will aspire to be successful, rather than aspiring to own a bunch of overpriced, under-taxed property.