Sunday, 10 May 2009

Windfall taxing MPs

Over on Obsidian's World, he suggests if MPs are going to trough up on expenses using taxpayers money, they ought to be taxed:-
In that spirit I propose the following:

* A 90% tax on all profits from houses sold during, or within a 15 year period after they leave, their career as an MP or Lord. Made retroactively for the last 20 years.
* A 50% tax on all public sector pensions over 30k p.a.
* A 75% tax on all MPs income that isn't related to their primary job as an MP.

All monies go into a pot and is annually split and distributed to the long term unemployed.

Now whilst he's clearly insane in suggesting the money is given to the unemployed (what? we're paying people to be have careers in being unemployed?) there's still merit in the plan. Not so much clawing monies back from MPs, but the state profiting from them.

It we tax them too heavily, like big business, they'll find loopholes and ways to avoid tax, but there's probably some level of taxing that is just enough of a deterrent to stop them troughing 'too much' but also pays revenue into the treasury.

Would that level be 49%?

Like I mean, the 90% tax on property sales will just encourage them to put property into trusts for their children or something, and they'll avoid paying tax entirely. Or even, they'll just keep the properties once the taxpayer has paid for them and rent them out in definitely. As soon as MPs lose their seats, they'll remain as landlords.

Ooh, how about the state retains ownership MP's property, however expensive or expansive that property portfolio ends up being, essentially using the MPs and their talents as letting agents.

This is all bullshit of course.

My money's on the second home allowance being abandoned, the 2012 Olympic Village being converted into MPs flats, and for all expense claims some kind of live Twitter feed application being set up with discussion available possible for every single claim.

The problem is, the current set of MPs aren't going to do a damned thing about it, they're just going to retain their positions for as long as possible, until the election next year. What we need is a quick general election now, with candidates putting forward their honest credentials and party's manifestos covering proposals for the new expenses system. Then the propblem will go away in a month rather than being dragged out until the middle of next year.

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