THE Mansion Tax was, like raising the top rate of income tax, always going to cost Britain money because economics works backwards over a certain level. Let me explain:
The rich are very clever
The very wealthy are not content, like mere wage-earning sheep, to pay whatever tax is levied upon them. They will involve themselves in tax-avoidance schemes – and clever ones, not the ones used by footballers – and end up paying far less as a result. A wise nation would not force them into such painful duplicity.
Taxation costs money
To even assess the value of our homes, with all their period features and stables converted into pottery studios at the lady of the house’s passing whim, costs the government money. It also demoralises those inspecting, HM Revenue and ultimately the whole government. You’re happier not knowing of your inferiority, trust us.
It destabilises the property market
Seems ridiculous, doesn’t it? That your horrible little Redditch new build could be affected by our £6m London penthouses? But it means we don’t sell, and those below us cannot buy, and so on until you get no viewings on your grubby terrace and have to die there. And it’s all because of that dreadful mansion tax.
Our philanthropic urges are rebuffed
The lower orders, popping a pound into a box for the brief thrill of goodwill, have no conception of how generously we give. There is barely a kindly act in the country that is not dependent on our largesse. If that is withdrawn because you have offended us? Britain will become a blasted ruin of misery which you brought on yourselves.
You feel the shame
Deep down, you know this is not the way it was meant to be. The bottom strata of society demanding money from the top? It is an inversion of the natural order, the economy knows that and it will compensate by charging you more for your peccadillos, like beer and biscuits. Ask not why. Simply abolish this dreadful tax and rejoice.
