Inheritance Tax?
- Thread starter tbaldwin
- Start date
Same thing as many right wingers say when people talk about poverty and inequality. Sad to see you can't articulate a more intelligent response.In Bloom said:
Do you also support kicking people out of their council flats and HA properties if someone dies or their kids leave home? In some places these are probably worth the same amount and the tenant enjoys a similar benefit - ie a roof over their head.
Umm, I'm not sure if you ever did Maths at school, but 60% is a greater proportion of the value of your flat than 0%trashpony said:Right - well I'm selling my flat, squandering the money I sell it for and, as a single mother, will get rehoused. And my kid won't have to pay any inheritance tax.
What a fucking brilliant idea!
Freddy - if people pay tax when they get money, then if they give it away then they should get this tax back.
Compnaies that pay VAT claim it back when they sell the products - in effect they pass the tax on to the next person or compnay in the chain.
Since income tax is meant to be a tax on wealth (ie richer people) then if someone earns money then passes it on the tax should fall on the person who eventually ends up with the wealth, not someone who is simply part of the supply chain.
Compnaies that pay VAT claim it back when they sell the products - in effect they pass the tax on to the next person or compnay in the chain.
Since income tax is meant to be a tax on wealth (ie richer people) then if someone earns money then passes it on the tax should fall on the person who eventually ends up with the wealth, not someone who is simply part of the supply chain.
trashpony said:*yawn*
Right - let's all rent and then no one will pay inheritance tax because there'll only be really rich landlords who will shift off their assets offshore.
And that will really help society
Are you saying that's what will happen if they don't abolish inheritance tax?
Alternatively, you could make the tax on spending the money equal to the tax on giving it away.
In both cases someone is moving their money around - in one case it goes to a business in the other to someone they know.
Why should giving your money to a business entail less tax than giving it to a family member, friend or good cause?
In both cases someone is moving their money around - in one case it goes to a business in the other to someone they know.
Why should giving your money to a business entail less tax than giving it to a family member, friend or good cause?
TeeJay said:
Why should they get it back?
TeeJay said:
If a company is VAT registered they claim the vat back on everything they buy regardless if they sell it or not and charge VAT on the produicts services they sell sending the difference between the VAT they have charged and the VAT they have paid as payment to Customs and Exise. What's this got to do with inheritance tax?
TeeJay said:
Not sure what this has to do with inheritance tax either. I pay tax on my income, I die, whoever I leave my stuff to pays tax on it. Seems perfectly sane to me, if whoever they are is relying entirely on me for their money then they''re going to have to make do with 240k plus 60% of anything over that I leave.
A Dashing Blade
Takes horses to water but can't make donkeys drink
I work.
I pay income tax on my earnings.
Those earning pay my motgage repayments/buy that nice pre-raphelite I've got my eye on . . . whatever.
I die.
Why the f**k should the Govt think it has a charge on things that I've bought with post-tax income?
I pay income tax on my earnings.
Those earning pay my motgage repayments/buy that nice pre-raphelite I've got my eye on . . . whatever.
I die.
Why the f**k should the Govt think it has a charge on things that I've bought with post-tax income?
treelover said:
I have no political allegiance. I look down on both sides of Flatland with equal disgust. The residents of both are 2D and I have no time for them. I'd rather take each individual issue and formulate an opinion accordingly rather than join the left-right club. I don't believe my argument comes from any political camp either. It's about who benefits from your hard work after you've already paid your dues.
But back to the issue in question, some hard workers toil their whole lives for the sake of their children, particularly immigrants. After paying their taxes and departing the earth it is only right that those who benefit from their blood and sweat are those whom they worked hard for in the first place. But no, the state must have as much as it can get it's grubby little mitts on in order to expand the size of the wellunfairstate. In the Indian culture in particular, working class men have spent their whole lives sweating it out in a factory after arriving on a banana boat so that they can buy assets and property for the sake of their families - an honourable cause indeed. Should they decide to leave their life's work to their kids, the taxman will then transfer 40% of the assets to someone who doesn't deserve it.
High taxation is acceptable if you don't have to pay it, eh? I'm sure opinions would soon reverse if your long lost aunty left you a few hundred thousand squids.
To be honest, there are plenty of ways around inheritance tax. Leave the cash/assets to your wife or gift them to your kids well before you are due to snuff it. Live for seven years and then you are free to croak. Both situations result in zero inheritance tax (the only acceptable outcome).
Should I end up with a few bob in assets, I will ensure that no single ex-heroin addict will get my money. During my lifetime I will have paid for enough methadone. I would turn in my urn if 40% of anything was given to a nobody on departing this fair and beautiful land.
Fuck off, you greedy Government cunts. Given that the moderately well off already pay more, just how much do you fucking want to squeeze them for before they decide to not bother working at all?
GarfieldLeChat
fucking awesome but wrong
yup we should all work for the good of the government there should be no personal ecomomies that way we could all be branded from birth with a big corperate logo and prostiue ourselves as modren day techno serfs to our corperate masters ...FreddyB said:
great idea...
FreddyB said:
unless i'm mistaken you do live in my world ...
regardless, why should you have to move out of your family home because a famliy member has died? why should you be forced out by death... sounds to me like serfdom where once the worker has died the landlord evicts and removes to increase their profits....
do you know where current tazation goes? is it for the benifit of our schools, our health services our essential infrastructure is that what you hoenstly think?
get out of the old overblown lefty rhetoric and smell the fucking coffee, this isn't about personal wealth any more, tbh that history of landed genrty or the rich as you so coyly call them is that they are in the decline replaced by an altogether worse version of modern day corperate aristocrat.
public and private partnership deals, government contracts for industry, transportation, health and education are all handlelled by big multi nationals who's main aim is to get more cash to reduce the things they have to do to get it.
whislt your rhetorice and much of it on the floundering left deals with fight the visalbe demons the unseen phantoms of unaccountable corperate culture are well and truely enconsing themselves under the table...
so whoopee that one person manages to accure some cash or conversly inherits some good fucking luck to them, and you're angery that they might do so becuase you cannot. yet spectaculalrly missing the point that your tax is being given away to any jonny come lately fly by night corperation who claims that it can resolve the *insert govermental created issue* at the time... for a fee...
you are looking in wholley the wrong place....
never mind eh when each person is as impoverished as the leftwing level playing field would result then it might force people to revolt and take back their society, in one long and bloody coup rather than the current system of complacency...
great plan...
because you think that i'm an obnoxious snob with a superiority complex.In Bloom said:
ViolentPanda
Hardly getting over it.
Bollocks.MonkeyMagic said:
As a proportion of income the bottom 30% of people on the earnings scale pay more.
TeeJay said:
completely agree though I still feel the tax should exist - yet with the boundaries moved.
Yes someone who has worked hard all thier lives & saved up ought to be able to pass on this "wealth" - i.e. thier house & some cash etc.. - in central london there are quite a few 'ordinary' people who can get caught by inheritance tax simply due to thier house being valued more highly.
however there are still people in this country who simply inherit vast ammounts of wealth i.e. estates, property empires etc.. - these are the people who ought to be taxed.
the tax boundary ought to be set at a level to only encompass these people + a few fat cats etc..
as pointed out before - the bloke who runs the local corner shop ought to be able to hand it down to his son/daughter - after all he has no doubt worked his ass off to get his little enterprise up and running.
