A so-called “mansion tax” may appear to embody a particular notion of fairness. One would think from the rhetoric that high-value homes all belonged to wicked billionaires, oligarchs and non-doms. One would think that owning such a home were inherently unjust. Far from it. Many valuable homes will have been bought by hard-working individuals and families using mortgages paid over many years. They will have paid tax on their incomes and capital gains. Hitting them again in this way would be […]

Tags: economics, Georgism, Inflation, Justice, Mansion Tax, Socialism, Tax, Vince Cable