There is an obvious way to tackle this inequality. It is called an investment income surcharge. We had one in the UK for more than 20 years, but Margaret Thatcher got rid of it. It is time that we had one again, creating an additional 15% tax charge on income from wealth of more than £10,000 a year.
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In neo-liberalism everything loses its inherent value and becomes a vehicle to profit-maximisation. Richard Murphy is a Visiting Professor of Practice in International Political Economy, City University of London. He campaigns on issues of tax […]
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