In response to Nick Booth: Cameron’s Panama hat has made me think again. He’s only in it for the oligarchs, J M wrote:
Oh Dear God! ISAs are a tax avoidance vehicle. Lots of people have them. Apparently that is alright. There is nothing wrong with tax avoidance (legal) as opposed to tax evasion (illegal). We are not obliged to open our pockets as wide as possible for the State to take OUR MONEY off us. It is our money. If the State wishes to remove it from us, it needs to frame the law to enable it to do so. If it frames laws so that it is possible to put your money somewhere beyond its reach, then I see nothing wrong with it.
Tax avoidance is a consequence of over-taxation. If you tax people too heavily, then they will seek ways of not paying. It’s called the Laffer curve. Cameron has done nothing wrong. The complaint is one of envy, “it is not fair!” (that he has money to invest overseas when most of us do not.) The echo of the school playground. Grow up!
