Two objectives:
Pay for public services
Redistribute wealth
Discourage unsustainable behaviour
Proposals:
- Eliminate corporation tax
- At source tax on income (including company benefits – cars, share options, but excluding dividends, capital gains, interest) – self-assessment for low incomes (rebate), high incomes (additional contribution – fat cat – necessary?) and self-employed (including moon-lighting public sector workers)
- Eliminate VAT
- At source tax on dividends
- At source tax on capital gains (including share sales, but not for IPOs)
- At source tax on interest (including interest charged by banksters)
- Regional property tax – excluding registered residence
- Sustainability import duty (depends on type of item, efficiency – if machinery, local substitutes, etc)
- Sustainability operation tax (resource extraction, CO2 emissions, pollution, “waste” etc)
- All business activities must be registered (excluding self-employed)
- Strict penalties for non-compliance (eliminate grey economy)
Consequences:
4 & 5 would kill the offshore unless they were exempt or tax was low, but it would provide a one-off windfall tax 😉