A progressive tax that possibly uses the child benefit household threshold as the point at which it kicks in would be a good Aunt Sally. Will take decades to pay off.
Child Benefit doesn’t use a household threshold though does it.
It is based on individual income and clawed back between £50k and £60K
You can have a household income earned by just one person of £60k and all child benefit is lost or a household income of £100,000 earned equally between two earners and nothing is lost.
See the problem? Whatever is done in the future there will be winners and losers.
For some, tax will seem fair and for others it will seem unfair, but that is life and it will never change.
Someone going into a pub and buying a pint will pay the same whether they earn £20k per annum or £200k per annum.
I do agree though that there should be some sort of luxury VAT. So if you want to pop along and spend £100k on a car, or splash thousands on luxury items, you pay a luxury tax supplement.
I also think that all higher rate tax relief should be abolished on pension contributions.
I also think that anyone above the age of retirement with a personal income in excess of 50k should have their state pension means tested and clawed back... lose £1 state pension for every £2 of income over £50k etc.
Anyone in retirement with income at this level without the baggage of saving for the future, paying mortgages, student loans and raising children etc etc, can have a great retirement without state pension.