Neil Williams wrote:
True. However, the fact that they'll contribute an extra £650-ish each
a year to TfL coffers is no bad thing - it partially addresses the
outrageous anomaly that Council Tax stops at Band H...

Why is that an outrageous anomaly? Such people don't throw away
substantially more rubbish, or use more other council services, than
those in lower bands.

If you want a local income tax you may as well do it properly, that
said.


Disagree.

Income and wealth are both measures of 'richness', and all forms of
wealth accumulation other than housing are already taxed[*]. Ideally,
I'd levy CGT on house value increases in the same way that it applies
to all other investments, but assuming that that's politically
unacceptable then having some kind of housing wealth-based taxation
system is a reasonable substitute.

And given that the system currently works in a tiered fashion, as Marc
says elsewhere, the fact that in London the very rich have to pay the
same as the moderately well-off is silly.

--
John Band
john at johnband dot org
www.johnband.org