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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Incentive to Work and Pay Taxes, a Radical UK Electoral System Reform Idea

ElectionOracle / UK Politics Apr 25, 2010 - 01:20 AM GMT

By: Nadeem_Walayat

ElectionOracle

Taxes, Electoral reform and immigration are all political hot potatoes during the general election campaign as the country is trending towards a hung parliament that gives a once in a life time opportunity for the Liberal Democrats to CHANGE the electoral system.


However all three can be addressed in one fail swoop by radical reform of the British electoral system by introducing proportional representation which is LINKED to the amount of TAXES one pays. This would skew the vote in favour of the often referred to as the silent tax paying majority that foots the bills but reaps little of the returns who will now feel that the extra burden of taxes levied actually has some value to the individual and also acts as an incentive to work and pay more taxes towards socially engineering the governments policies towards which favours the silent tax paying majority, focused towards getting value for money and real reform of the public sector, social security and the countries immigration policies.

Those that fear that the mega-rich will carry far more sway in elections need not worry, as the mega- wealthy in actual fact pay less tax than many professionals. Instead seek to buy influence in political parties through the means of donations for policy, OBE's, MBE's, Knighthoods and Lordships. This also gives an incentive for the mega-rich to be more inclined to pay UK taxes and help contribute towards filling the huge gap between government spending and revenues.

This electoral reform idea could work on the basis of extra voting weights for every £1,000 paid in tax each year, therefore someone paying zero or upto £1k in tax would receive one voting weight, whereas someone paying £10,000 in tax would receive 10 voting weights.

An idea to throw into the electoral reform pot, where those that pay the bill will decide the election outcomes and hence in manner act as a mechanism for earning citizenship which could be further expanded by introducing additional voting weights for say performing charity or voluntary work, extra voting weights for serving in the armed forces etc...

Source: http://www.marketoracle.co.uk/Article18916.html

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on UK inflation, economy, interest rates and the housing market and he is the author of the NEW Inflation Mega-Trend ebook that can be downloaded for Free. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 500 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Alfred Warschauer
25 Apr 10, 02:09
Incentive to Work and Pay Taxes, a Radical UK Electoral System Reform Idea

Nadeem

If voting changed anything they would abolish it. There is no point in having a number of votes, weighted according to your contribution to society, if all you can vote for is bankster controlled parties


CD
25 Apr 10, 16:18
I'm not sure

Then the richer would vote for the party that's going to make them richer and the poorer would just get poorer because their vote would be worthless. I'm not saying this doesn't happen now, but surely that would just be too blatant. I imagine that kind of electoral system would create big problems in society.


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