People who own a 400k house are wealthy. Their wealth is in an asset.
This is not about class - it’s about assets. The current system disproportionately taxes lower value properties. Same should be done to assets held in stocks and shares.
People who rent are even more disproportionately paying tax for an asset they do not own which is likely gaining value.
Look at the GCC bandings - they may not actually pay more unless their band is below 1% of the value. |