We would be better served by a regressive tax rate, that would become progressively smaller the longer the investment is held.

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In the UK, given the tax system, this would mean increasing VAT (a nice regressive tax) and then, say, abolishing the 50 p additional tax rate on higher earners.

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BBC, the harder it becomes to justify the flat-rate licence fee (in all but name, a regressive tax) levied on all the country's television owners to pay for the corporation.

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