|
Think tank: Britain needs new wealthy tax
via Wash TimesAny comments from our cousins? Is the IPPR "think tank" an ISM front? August 23, 2004 A think thank said Sunday Britain's super-rich should be hit with a 50 percent inheritance tax to allow cuts for the middle classes. The Institute for Public Policy Research said the chancellor could raise $267,731,277 a year and cut death duty for up to 90 percent of people, the BBC reported. It institute said estates of more than $1,471,611 could be taxed under a banded system. The organization said Gordon Brown should use the overflow to help Britain's poorest children through the Child Trust Fund. A new inheritance tax structure would allow the amount invested on behalf of every child to be raised. Between 1991 and 2001 wealth held by Britain's wealthy increased from 47 percent to 56 percent and a third of Britain's riches are owned by 2 percent of the population, according to the IPPR. And UK Socialism Marches Forward... Posted by: .com 2004-08-23 |
| http://www.rantburg.com/poparticle.php?ID=41326 |