Sunday 13 May 2018

Telling An Old Story

I was thinking of commenting on something else when I saw this in Zero Hedge. It is one of those ideas that despite its disadvantages and evident problems may catch on for politicians looking to get the votes in the right segment of the electorate for them.

Paying For Pensions is the subject, an issue common across most of the first world economies, which I think just about includes ours. The idea comes from Chicago, a city which has long had a reputation for imaginative ways of redistributing money and income.

This one has a property tax hitting the owners hard to take money to cover the rising deficits in pensions funding. In the UK with so many property owners either having or looking forward to pensions it could be that there would be a lot of taking with one hand and giving with another.

If that is the case then it is probable that the government would take its cut and a big one. Let us hope John McDonnell doesn't see it or it might become Labour Party Policy between coughs at the next conference.

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