Conservatives in disarray over 'sooner or later' tax promise

chewmylegoff

Sir_Humphrey wrote: »

Nonsense. If Henry and Jocasta get a load of money off Mater and Pater, then other people find it more difficult to get on in life. It is much easier to make a million, if you already have a million. The end result over the years is that it becomes much more difficult for people to better themselves, as wealth gets concentrated into fewer families. People who believe in meritocracy should be opposed to cutting IHT.

i agree, inheritance from property merely supports the property pyramid.

ukcarper

How have you worked hard for your wealth if you bought a house for 75k and in increases to 400k over 25 years.

StevieJ

Generali wrote: »

My mate meets him annually to explain himself so I think it would be fair to say Mr Buffet is a friend of a friend.

How much money have I made from this near-unparalleled access? Well the number begins with Zed and rhymes with Nero.

Hey Gen I like your job description on MF - back office banker

tomterm8

dealsearcher wrote: »

1. You pay tax on your salary
2. You pay tax on anything you purchase with your net salary
3. You pay tax on the the interest of any savings you have after 1. and 2.
4. You pay tax when you die on what's left after being 'prudent' all your life

How many times does the government need to tax us?

Given the current state of the budget deficit, the government needs to consider introducing a birth tax, a toddler tax, and a rubish tax just to pay for current spending.

geoffky

tomterm8 wrote: »

Given the current state of the budget deficit, the government needs to consider introducing a birth tax, a toddler tax, and a rubish tax just to pay for current spending.

There is a birth tax...find out what uk plc does upon registering your birth and getting a birth certificate....you become a mr or mrs or miss smith and the gov borrow money in debit of your future tax payments

http://bbc5.tv/eyeplayer/articles/john-harris-its-illusion

A._Badger

Sir_Humphrey wrote: »

Nonsense. If Henry and Jocasta get a load of money off Mater and Pater, then other people find it more difficult to get on in life. It is much easier to make a million, if you already have a million. The end result over the years is that it becomes much more difficult for people to better themselves, as wealth gets concentrated into fewer families. People who believe in meritocracy should be opposed to cutting IHT.

Even in London, most people will have a net worth well below £300k, and yet more will join them in the next year.

What is nonsense is the kleptocracy relieving the public of its money to pursue their lavish lifestyles and experiments in social engineering, the effectiveness of which we can see all around us.

Incidentally your 'Henry and Jocasta/Mater and Pater' crack simply confirms my earlier point. The motivation is as much envy as a desire for that shibboleth, 'social justice'.

chopperharris

Tax , choppers view.

We all get taxxxed , you can be as badly off as said in reports by as much as 60p of every one of your golden queens heads goes to the common purse.

We dont effectively have the option of tax avoidance unlike the rich or banks like barclays etc.We cannot choose tax minimising, avoidance , efficiency or whatever the word is this week.

Which ones can we the unwashed masses actually minimise?

Income tax
Nat Ins
Vat
Fuel tax
Road fund
Insurance tax
Stamp duty
Alchohol
Ciggarettes
Savings tax
Council tax
Capital Gains
Inheritance

Most of them cannot be adjusted in any way for we the majority.Yet those with the biggest income may actually pay more overall in pounds but not as high of a percentage of their income v that of the majority.

No matter how you put it the rich will always be better off with taxation , and get more from tax benefits as a secondary insult.

Dont get me started on titled peers , royals etc being excluded from taxes.On our death our "estate" is calculated and taxed accordingly , what little is left is shared among your beficiaries.....all they perhaps do is give a painting to a gallery or open a house to the public a couple of times a year....if only we could do that too.

Wookster

Generali wrote: »

Personally, I think IHT should be paid at a rate of (say) 80% on all assets other than the family home (excluding associated land) unless there isn't a family home in which case IHT-free assets should reflect that.

People shouldn't get a free ride in life just because Daddy was rich.

Yup - I agree with this and its a bit of an own goal for the Tories. No doubt it is just electioneering as I'd hazard a guess that the Tories have significant support from pensioners and OAPs who are loath to see their life savings being taxed away after the're gone :rolleyes:

Its also a bit daft for Clarke to bring this up as IHT is the easiest tax to avoid with just the most basic of planning.

Generali

chopperharris wrote: »

Tax , choppers view.

We all get taxxxed , you can be as badly off as said in reports by as much as 60p of every one of your golden queens heads goes to the common purse.

We dont effectively have the option of tax avoidance unlike the rich or banks like barclays etc.We cannot choose tax minimising, avoidance , efficiency or whatever the word is this week.

Which ones can we the unwashed masses actually minimise?

Income tax
Nat Ins
Vat
Fuel tax
Road fund
Insurance tax
Stamp duty
Alchohol
Ciggarettes
Savings tax
Council tax
Capital Gains
Inheritance

Most of them cannot be adjusted in any way for we the majority.Yet those with the biggest income may actually pay more overall in pounds but not as high of a percentage of their income v that of the majority.

No matter how you put it the rich will always be better off with taxation , and get more from tax benefits as a secondary insult.

Dont get me started on titled peers , royals etc being excluded from taxes.On our death our "estate" is calculated and taxed accordingly , what little is left is shared among your beficiaries.....all they perhaps do is give a painting to a gallery or open a house to the public a couple of times a year....if only we could do that too.

If you give up smoking you avoid the tax on cigarettes and will probably be able to delay your inheritance tax bill!

IHT will bring in approximately £3,000,000,000 into the Treasury in 2008/9. It's pretty poor politics for the Tories to allow this to be such a big problem for them. AIUI, it's only really the careless that pay it anyway.

StevieJ - I really should get around to changing that to dosser or bludger or something. Oh well, at least this immigrant isn't taking anyone's job. I took one of their women though (Mrs Generali is Aussie).

ManAtHome

Wookster wrote: »

Its also a bit daft for Clarke to bring this up as IHT is the easiest tax to avoid with just the most basic of planning.

I thought it was a very sensible point to make, along with the rest of the interview which was pretty forthright about having to pay back enormous amounts of debt in future.

Tory central office must be more than a bit barking if they think increasing IHT thresholds alongside putting up most other taxes will be a vote-winner (if any party claims "no tax increases next term" they would be too loony for the MRLP).