Comments on: Change the taxation system to a transaction or turnover tax

By: Milano Homes

Milano Homes — Sat, 12 Sep 2009 11:13:47 +0000

I was hoping I could ask you a rhetorical question about yourself, would that be ok? Its always good to share a great post.

By: David Chester

David Chester — Tue, 31 Mar 2009 15:35:30 +0000

This proposal is like the so called “fair tax”. It is plainly unfair to take away from somebody part of his earnings or to collect some of his purchase money as a tax. What should be collected as tax is the lost opportunity that access to natural resources, particularly land value provides, that present speculators are enjoying. They achieve this without performing any kind of work and the unused land that they wish to speculate in would otherwise provide lots of work space for those who today are restricted by the high rents on what land is available, and consequently need to charge high prices from their produce. Taxation of land values is far better than any part of the production process where the tax depends on the quantity of labour or goods. TAX TAKINGS NOT MAKINGS.

By: Abigail Seabrook

Abigail Seabrook — Mon, 09 Mar 2009 21:11:47 +0000

What will this mean for the self-employed/SMEs? Maybe I’ve missed something, but I’m a self employed musician, maybe turn over 10-15K a year, however there are quite high costs involved in running my business eg lessons (singers must take these throughout their career) CPD, running a car to get me from A-B at unsociable hours, the list goes on. All in all, I end up making less than £6K actual profit in a good year, and you think I should be paid on turnover? Many new businesses do not make a profit at all in their first few years and taxing them on turnover will ensure that they fail before they’ve had a chance.