LONDON, Sept 7 (Reuters Breakingviews) - So much for a post-pandemic outbreak of economic levelling up. Given that lockdowns to fight Covid-19 have made generational wealth divides even more entrenched, the hope was that states would use ploys like a wealth tax to ease their new debt burdens and pay for new spending plans read more . Prime Minister Boris Johnson’s 36 billion pound tax hike to fund the UK health service and social care costs doesn’t do that. Although borrowing costs are cheap and the United States has normalised spending trillions of dollars to reignite flagging economies, there’s nothing innately wrong with wanting to finance what are socially worthwhile areas of spending via taxation. But Johnson’s plan to raise taxes on both workers and employers by 1.25% respectively is a levy on labour, not wealth. At some point, younger generations could punish him for it at the ballot box. (By Aimee Donnellan) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: UK government let off intervention hook read more Babbel IPO sounds cheap for a reason read more JD’s shakeup is the welcome kind in Chinese tech read more One big tax deal helps another read more Slow U.S. jobs growth is a yellow light for Fed read more