Who should pay for social care?
Jul 27, 2020 1:25 pm
https://www.theguardian.com/society/2020/jul/26/uk-ministers-looking-at-plans-to-raise-taxes-for-over-40s-to-pay-for-social-careWhat do you think? This is going to be an important debate and will have implications for all ages. Comments an suggestions welcomed.
Jul 27, 2020 1:27 pm
A National Care Service has to be paid for out of taxation, the only real question is the sort of taxation.
I see absolutely nothing wrong with taxing the individual for their care in both income and capital i.e. nothing wrong with denying children their capital inheritance, through the sale of an owned house or land or shares at the point of need. But that will never generate enough finance.
Personally, I would tax all ages with a universally fair form of taxation of all income and wealth in equal amounts. But it is better to tax the over 40s ( or over 35s or over 45s, or what ever) than to leave things as they are. The status quo is not sustainable.
But the devil will be in the detail.