My prediction is that council taxes will be raised substantially out of necessity and the effect of this will lower house prices and reverse the 'wealth effect' which would impair peoples ability to pay that tax. The net effect is a further crushing the middle class. Lower per capita incomes, higher taxes, and a reverse wealth effect is not going to be a fun time.
Basically the government needs a lot of money and there are not many places to get it from, rich people have big houses so such wealth taxes would be more popular with the average voter - so I think they will do this out of a combination of necessity and ability. I wonder how I would find evidence in support for this belief in the data or train an algorithm to make similar predictions. I guess I'm sampling a model of my beliefs of how governments work. Reverse wealth effects have not happened in the west for a very long time so there are not many modern examples to template on - especially at a time when inflation of the money supply is an option.
Basically the government needs a lot of money and there are not many places to get it from, rich people have big houses so such wealth taxes would be more popular with the average voter - so I think they will do this out of a combination of necessity and ability. I wonder how I would find evidence in support for this belief in the data or train an algorithm to make similar predictions. I guess I'm sampling a model of my beliefs of how governments work. Reverse wealth effects have not happened in the west for a very long time so there are not many modern examples to template on - especially at a time when inflation of the money supply is an option.