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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