Notice how Sinn Féin leader Mary Lou McDonald refers to the local property tax (LPT) as a “tax on the family home”. Sinn Féin wants to scrap the LPT and replace it with a wealth tax. So a property tax is a de facto wealth tax – doubly so in Ireland’s case – and Sinn Féin is dancing on the head of a pin by decrying one and supporting the other. Would a wealth tax be better at taxing this type of wealth? A property tax - in principle at least - acknowledges this inequality and seeks to redress it.

Source: The Irish Times June 06, 2021 10:52 UTC