Good Luck With That One Jezza !

[bazwillrun]

http://www.telegraph.co.uk/news/politics/Jeremy_Corbyn/11906737/Now-Jeremy-Corbyn-economic-adviser-wants-to-raise-100billion-by-taxing-the-spending-from-your-bank-account.html

Totally and utterly clueless.......these idiots should fall on their swords...save them a lot of embarassment down the line

[fiction-factory]

The tax advisers/accountants will make a fortune devising ways round it.
Why not just put the money on VAT?

[DaisyNonna]

Tax or theft?

[Gromit]

An the current alternative is working so well, why fix it :?/

[Peter Pedant]

yeah a tax on consumption ( such as VAT ) always hits the poorest as there are some things they really cant stop consuming
water electricity etc

confiscatory taxation seems back in fashion so longs as you are not the one paying it !

[Tuvok]

I don't earn £20k

[atalanta]

Time to stuff some socks with banknotes and keep them under the bed.
Mind you, there used to be something called "purchase tax", and some US states still have it. Can anyone remember the reason we gave it up ? Wasn't it because VAT took its place ?

[tonyav]

Yes, wasn't VAT a Maggie thing.

[Canary42]

Yes, VAT replaced purchase tax.

[shaneystar2]

Purchase tax was replaced by VAT in 1973 ,a few years before Mrs Thatcher came into power .
It was introduced when we joined what was then the EEC,by Anthony Barber who was the Chancellor of the Exchequer at the time and it's gone up and down on goods and services like a yoyo since then.

[Mamyalynne]

Will we get a tax rebate on overdrafts then?

[tonyav]

Thanks shaneystar.

[Old_Geezer]

It's just some idiot advisor.

Money was taxed as income. It should not be taxed a second time when spent as that hits people indiscriminately. Unless targetted at some victim group.

[youngmafbog]

Well that will sort out the overpopulation of the country. Something like this would cause such an exodus the whole country would collapse.

[VHG]

Sadly Labour's answer to everything - just tax people more.

They never think of REDUCING tax or REDUCING benefits, just tax the workers and give it away to people in benefits.

The reason I hope we NEVER get another Labour government in this country.

[Retrochic]

Carry on Jezza - every communist loony thing you spout forth is like a kick in the shins for the labour party - The only winners in this scenario are at the two ends of the economic scale -the mega millionaires that can hide their purchases through schemes and creative accounting, and the Benefit fiddlers who will be selling their knocked off goods and drugs for cash and buying for cash. Has this guy ever lived in the 'real' world?