We all have expectations, but things don’t always go to plan. We can lose our jobs, have investments fail, have disasters on holiday or have a unexpected expense that leads to spiralling debt. Can we and should we prepare for the worst? Have you put some money away for a rainy day or is it raining already?
Towards a fairer tax system.
There are three rates of VAT in the UK, zero for some foods, newspapers, children’s clothes, etc.; 8% on energy and 20% on most everything else. Should we have a luxury rate for the rich? How would it work? How can we define a luxury? Is luxury toilet roll, impregnated with aloe vera; a luxury or just bog standard?
I live in Britain but taxation is very similar all over the world. Many countries copied our system! I read an article that proposed a different tax system the other day but it only covered income tax and wasn’t a lot different. We need a fairer system. One that acknowledges social injustice. (more…)