Sometimes you come up against the block-headed idiocy of the left. They just believe that if the dastardly "rich" would just pay more, and ever more, then all would be good. Despite all the evidence to the contrary, there is no persuading these people. But when the argument comes from a Professor of Sociology, Anthropology and applied Social Science at the once respected University of Glasgow in the form of a Guardian 'Comment is Free' article which he apparently considered sufficiently good for him to consent to have it published, and not only published but published under his own name where it might even be seen, it not only demonstrates the complete descent of Scotland into an irredeemable socialist hell-hole from which it will never recover, but also the sharp decline of academic standards. So here's professor Greg Philo's "logic"
The total personal wealth in the UK is £9,000bn, a sum that dwarfs the national debt. It is mostly concentrated at the top, so the richest 10% own £4,000bn, with an average per household of £4m. The bottom half of our society own just 9%. The wealthiest hold the bulk of their money in property or pensions, and some in financial assets and objects such antiques and paintings.A one-off tax of just 20% on the wealth of this group would pay the national debt and dramatically reduce the deficit, since interest payments on the debt are a large part of government spending. So that is what should be done. This tax of 20%, graduated so the very richest paid the most, would raise £800bn.I've already dealt with why this might be popular: Because the electorate are a selfish bunch of spiteful bastards who would quite like someone else to pay taxes on their behalf. But it's "just" 20% of THEIR net wealth, so that's OK then. I mean a one off (yeah, right!) arbitrary confiscation of the assets of the richest, most mobile people in the country, who own and run businesses and pay disproportionate amounts of tax compared to the services they use. What possible damage could this do to the economy? What could possibly go wrong?