Why would they ever love losing their Wealth as a result of LVT ?
Here’s our proposition: We've decided that wrapping up all of the current taxes on property -- Council Tax, Stamp Duty, IHT, ga-ga Granny Tax, Housing Benefit etc. -- and transform them into LVT. But how on earth are the politicians going to sell that idea to the 60% of the population who are owner-occupiers and their families? Think of the reactions:
"Watch the price of your house drop to one-third of its present value."
"Be forced to pay tax even if you don't earn a penny."
"Pay the State for something you thought you owned outright, or have the very land under your house nationalised, just like they did in Soviet Russia."