‘Taxman’ Lives On: 36% on Money You Haven’t Made
21st February 2026
Read it.
It has been 60 years since The Beatles released their album Revolver with the lead song “Taxman.” Its lyrics have become classic:
If you drive a car, I’ll tax the street; If you try to sit, I’ll tax your seat; If you get too cold, I’ll tax the heat; if you take a walk, I’ll tax your feet.
Government is the most rigid construct man has ever invented, with one exception: taxes. Just like George Harrison’s lyrics so amusingly point out, there is no limit to how creative government will get if it thinks it can squeeze more taxes out of us.
At the time the song was written, British income tax topped out at 95% (‘It’s one for you, nineteen for me’). Under a Labour government, of course; socialism is based on robbing people.
One of the most absurd tax inventions is the idea that people should pay taxes on financial hot air, also known as ‘unrealized capital gains.’ These are increases in the value of assets that you have not cashed in. In other words, unrealized capital gains are assessments of how much your assets would yield in cash if you were to sell them today.
This tax already exists in Europe and is fervently debated in America….
Proglodytes and other dimwits think that ‘billionaires’ are Scrooge McDuck, with a big Money Bin in which they swim around in their cash. In fact, ‘billionaires’ have all their supposed wealth invested in productive assets, providing goods and services (and employment for thousands, sometimes hundreds of thousands, of people).