New Land Tax: We've Been Here Before.

Thatcher came up with the poll tax. A tax based on the value of your property and payable, divided between the adults in the house.

When that happened, we had riots in the streets. The Poll tax riots of 1990

The Socialists revolted, because they had to pay part of the bill that their parents typically paid.

The government then relented and although notionally based on the value of your property (set in bands) council tax was per household. The bands created a reasonable variation between upper and lower bands. Because we're all paying for the same services, it's reasonable to expect to pay a similar amount, with those better off paying a slightly higher cost. With this new system, how can government justify demanding 300 quid from one household and 48 grand from another for the same service?

It wasn't a percentage of the value of the property up to an unlimited value, there was at least an upper limit, controlled by the tax bands.

Now we have the idea of a land tax, based on a percentage of the value of the property, with no upper limit.

If I had a house worth £1 million, my tax liability would be £48,000, more than any wage I've ever earned in my life. In fact I currently earn half that figure. So for me, owning a million pound house is completely out. Thanks Labour.

So how do Labour intend to limit the land tax based on the ability to pay? 

Or is this a way of freeing up expensive properties by seizing them from people that can't pay? New HMOs for the migrants?

Also, I can't say that the charity Omaze and similar charities are happy about this. They buy high value properties, and raffle them off for charity. 

Now currently, you could aspire to owning such a property, because the council tax on it wouldn't be higher than your annual earnings. It won't even be close to rental costs. So it makes sense to have a punt on the charity and hopefully live the high life in a million pound mansion.

A land tax kills that model instantly. Why would you want to be saddled with a tax liability that takes years of salary to earn? 

It kills aspiration. Which is a typical socialist scumbag move. Let's drag everyone down to our level of misery, because they're jealous of your wealth.