It would cost less than £1bn net (when wages are recirculated in the economy) to give NHS nurses & staff a 15% payrise. A wealth tax of 0.05% on financial transactions would raise £250bn pa. If you value the NHS & those who care for us, then back wealth taxes.
@BeckettUnite Howard you did this the other day, and I asked about it with no reply. For a 0.05% financial transactions tax to raise £250bn, the numerator would have to be £500,000bn, or £500trn, or 250x the size of the whole economy. Your numbers must be way off. Pse show us your workings.
@BeckettUnite Please show how you worked that figure out because it seems unrealistic
@BeckettUnite A transaction tax is not a wealth tax. They're different things. A speculation tax would be another different thing
@BeckettUnite Everybody deserves a proper pay rise same as people struggling on benefits
@BeckettUnite Wrong again about the tax take
@BeckettUnite Ok I’m convinced, now where can I go to make it happen?
@BeckettUnite NHS staff are paid in £, of which the British gov’t is the monopoly supplier. Therefore it follows that the cost is next to nothing while the extra money goes straight into the economy. Wealth taxes are essential to make the rich less dangerous, not to fund gov’t spending. #MMT
@BeckettUnite @magpie_mama Even after there are far fewer financial transactions happening now after your & Len’s beloved Brexit?