Yes you can, it’s called tax, and it splits off a fraction of your assets when paid.
No idea why OP was focussing on mansions, but a property tax would sort that problem. Stick a £2m threshold on it so it only hits the filthy rich. Before you whine about asset rich cash poor; dont care sell it if you can’t pay. People are dying.
Lol. Yes you can. What’s more the absolute best wealth to tax is land/ real estate because it’s really effing hard to hide, and can’t be shifted overseas.
You can destroy its value by physically removing the building but the bulk of the value is always in the land, the building itself depreciates.
You really have reading comprehension issues don’t you ?
The post notes that it’s impossible to hide or move real estate overseas thus making it impossible to avoid.
Even if someone tried to avoid the tax by destroying the building you still can’t avoid it because the land is the value not the building.
Ergo you pay the property wealth tax or the government reposses the property.
Unlike cash that can be hidden the asset is visible and hence tax is easily enforced
So to answer your question, the only one who would seek to destroy the building is someone trying to avoid a wealth tax (someone who thinks “I’d rather destroy my asset than pay tax” ie a nutter) in which case the government just seizes the land and the nutter tax avoider gets a banner over his head of “fucking idiot and welcome to jail here’s your blanket dont drop the soap”
Again. The mansions don’t fall from the sky, they are built. Not every mansion has already been built. Why are you acting like people only buy pre-existing mansions?
You didn’t give any specific example. You just keep repeating “but the mansions are already built”, while mansions are being built right this second. If you want to introduce a specific scenario, you can’t just expect the other person to read your mind, you have to do it.
How do you expect to share a mansion to buy some school uniforms, for example?
You only ever talked about mansions. You never specified anything about existing mansions or the like. This situation would be much less embarrassing for you if I couldn’t scroll up and see everything you wrote.
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When do you think the last mansion was built?
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Yes you can, it’s called tax, and it splits off a fraction of your assets when paid.
No idea why OP was focussing on mansions, but a property tax would sort that problem. Stick a £2m threshold on it so it only hits the filthy rich. Before you whine about asset rich cash poor; dont care sell it if you can’t pay. People are dying.
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Lol. Yes you can. What’s more the absolute best wealth to tax is land/ real estate because it’s really effing hard to hide, and can’t be shifted overseas.
You can destroy its value by physically removing the building but the bulk of the value is always in the land, the building itself depreciates.
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You really have reading comprehension issues don’t you ?
The post notes that it’s impossible to hide or move real estate overseas thus making it impossible to avoid.
Even if someone tried to avoid the tax by destroying the building you still can’t avoid it because the land is the value not the building.
Ergo you pay the property wealth tax or the government reposses the property.
Unlike cash that can be hidden the asset is visible and hence tax is easily enforced
So to answer your question, the only one who would seek to destroy the building is someone trying to avoid a wealth tax (someone who thinks “I’d rather destroy my asset than pay tax” ie a nutter) in which case the government just seizes the land and the nutter tax avoider gets a banner over his head of “fucking idiot and welcome to jail here’s your blanket dont drop the soap”
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Again. The mansions don’t fall from the sky, they are built. Not every mansion has already been built. Why are you acting like people only buy pre-existing mansions?
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You didn’t give any specific example. You just keep repeating “but the mansions are already built”, while mansions are being built right this second. If you want to introduce a specific scenario, you can’t just expect the other person to read your mind, you have to do it.
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You only ever talked about mansions. You never specified anything about existing mansions or the like. This situation would be much less embarrassing for you if I couldn’t scroll up and see everything you wrote.
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