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Ryan Bridge: The Green's wealth tax isn't going to happen · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: There is no real point in talking about this latest
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  Speaker 1: looney bin tax plan that will tax grab really from
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  Speaker 1: the Green Party, because it's not going to happen. It's
• 0:09
  Speaker 1: going to end up being nothing more than a word
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  Speaker 1: dock on their website. Not going to happen. However, an
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  Speaker 1: inheritance tax is about the cruelest thing a state can
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  Speaker 1: impose on a grieving family thirty three percent. When mum
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  Speaker 1: or dad dies, You've then got to take out a
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  Speaker 1: loan from the bank. Congratulations. Bank, can pay the government,
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  Speaker 1: or sell the shares, sell the property, whatever, then pay
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  Speaker 1: the state. Congratulations. State. The idea is that somehow this
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  Speaker 1: act of forced goodwill, taxing assets that your family has
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  Speaker 1: worked hard to acquire, using money that's already probably been taxed,
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  Speaker 1: earning income that's already taxed well somewhere, somehow materially change
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  Speaker 1: the lives of others. This idea is bs I've just
• 0:50
  Speaker 1: been in France where they have exactly this system. They
• 0:53
  Speaker 1: have high personal income tax rates and they are swinging
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  Speaker 1: to the far right. And this plan includes a wealth
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  Speaker 1: tax on everything from shares to companies, which only a
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  Speaker 1: handful of other countries do, by the way, and bother
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  Speaker 1: doing because you may have an asset, but it doesn't
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  Speaker 1: mean you've got cash to pay tax on it. Just
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  Speaker 1: to reminder, this is not how a country gets rich.
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  Speaker 1: This is not how you create more jobs and industry.
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  Speaker 1: It is not how you grow an economy. And if
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  Speaker 1: you're not doing that, you're standing still or going backwards.
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  Speaker 1: We've been doing that in this country for too long.
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  Speaker 1: Ideas like this may be appealing on paper, in reality
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  Speaker 1: almost never deliver the things that the politicians espousing them
• 1:39
  Speaker 1: promise On the hustings. You don't hear this set often,
• 1:42
  Speaker 1: but thank god for labor completely ruling this thing out.
• 1:47
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• 1:50
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• 1:53
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