Public support for a wealth tax has surged, with two-thirds of Britons, including many Conservative voters, expressing favor for taxing individuals with more than £10 million in assets. This movement reflects growing concerns over a funding crisis and the strain on public services, leading to questions about the responsibility of the wealthiest to contribute more financially. However, there are significant risks surrounding this policy proposal, such as capital flight and investor concerns, alongside inherent flaws in the current tax system that complicate the issue of wealth taxation.
Two-thirds of the British public, including a majority of Conservative voters, support a wealth tax on individuals with more than £10 million in assets.
Calls to tax the super-rich are now firmly in the political mainstream as the country faces a funding crisis and public services are under strain.
The funding crisis is prompting questions about why the wealthiest shouldn't shoulder more of the fiscal burden currently faced by the public services.
There are real risks associated with wealth taxation, including capital flight, investor nerves, and flaws in the existing tax system.
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