How Could Reeves Tax More, Rather Than Cut?

The reaction to current cuts is, predictably, to tax the rich more instead. Some of the suggestions do not take account of economic reality. However, there are still ways in which taxes could be raised without falling into the traps which are constraining Reeves.

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[Howlingoutloud-m]

"Poverty exists not because we can't meet the needs of the poor but because we can't meet the greed of the rich."

[ohyeah]

The only people who don’t like taxing the rich are the rich.

[dottyp]

Just wanted to say Labour have been in touch with Gary economics this week. They want to talk to him.
The more the people fight for it the more likely it will happen.
Stand up and get behind Gary.

[davidmcculloch]

My concern is that while there are many different ways of taxing wealth, proposed by different progressive economists, Reeves is showing no inclination to adopt even one of them. But instead punches down on the vulnerable. Labour is not tackling inequality, which suppresses growth.

[gridrunnersshack]

Stop apologising for the rich. Tax them.

[finlayfraser]

Phil, it is a matter of principle, not economic reality. We, I mean "WE" do not want the obscenely rich as part of our national fabric, their presence is poisonous to social cohesion.

[mootedtols]

they could start taking on the right-wing press, as they should have from day one.

[brianferguson]

Tax wealth and assets of the rich, not necessarily their incomes. And a tax for businesses like Amazon based on turnover in the UK not declared profit in a country of registration like Luxembourg.

[wowmanhaha]

'You can't hide half of Hertfordshire in the Cayman Islands'. Brilliant!

[gridrunnersshack]

Tax the rich. Equalise capital gains. It’s morally correct and it’s a start.

[BritanniaMotorcycles]

It is like 2008 when banks were "to big to fail". We have fallen into a circular argument on taxes and their effects and until we break out of it we will always have austerity budgets.

[toggerz]

Tax wealth, not work!
Tax land, not lives!

Labour must have a plan to tackle wealth inenquality. It's imperitive if they're to improve their popularity.

[jordoncampbell]

We know what side Farage is on. he works for a company that helps super rich Avoid paying taxes.

[johnoconnor]

Patriotic millionaires want to pay more tax, on the TV yesterday

[phueal]

I’m someone who would probably be captured by a tax on the rich, depending on exactly what the tax is. And I’m happy to pay more tax to support public services.

I’ve been reflecting on this a lot with the current discussion around taxes, and I think a lot of it comes down to fairness: we need to remove exceptions and equalise taxes as much as possible. That’s not just because it would raise more money, but because I think people like me would be much happier (and less inclined towards tax avoidance) to pay an extra 3% if we didn’t simultaneously witness the Duke of Wherever or some investment banker paying no tax at all.

[ThomasMadden-hdoz]

Tax land, it can’t be moved abroad or hidden.

[aredub]

the us taxes your money no matter where it is.

but the uk's main industry, money laundering, wouldnt like that.

[joebarrett]

Just cancelled my labour party membership. This is not what I voted for. Reeves' plan to tax the vulnerable is worthy of the conservatives and is a disgrace.

[nathanreynolds]

Outstanding tax owed but un-recouped is valued at over 100 billion a year. This figure dwarfs the welfare "burden".

[georgecaplin]

Credit to Helen Goodman for pushing these ideas, but they’re not hers. That’s Georgeism. It’s gained a lot of supporters lately. I’m all for it.