Fancy a “one off” tax?

I don’t know whether it’s just me, but I’m hearing some nasty little rumours at the moment.

For instance:

The IMF world bank is proposing a ten per cent wealth tax on all households in the UK and the rest of the Eurozone.

What this would mean is men and women having to pay a levy on the total value of their accumulated assets, including their properties, cash, bank deposits, money funds, and savings in insurance and pension plans.

The amount payable would also depend upon whether they have any businesses, personal trusts, corporate funds, earnings, loans and mortgages.

All of these things are already taxed – so a wealth tax would represent an additional tax on the same assets. In other words, we would be taxed twice.

Now I haven’t heard a peep out of the MSM but surely there must be someone out there who has heard of this rumour. I only got hold of this through a blog written by journalists who I’ve never heard of before.

There’s also a link to a PDF discussing the proposal. 

This is not a new idea. If you remember it was carried out in Cyprus. The hyperlink takes you back three years ago.

The most distressing part of the discussion paper, is the lack of understanding by the authors. They don’t seem to realise they are sanctioning theft on the grandest scale.

What do you think? I personally think it’s time to take my money out of the bank and hide it under the…………………