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Fella

chucknorris wrote: »

I've paid well over 270k in income tax so far (in my life) and I can honestly say that I wish that I had paid well over 100 times that.

Well, it won't be 100 times that but if you've accrued enough the Treasury will certainly help itself to another large chunk of it via IHT, despite the fact they already taxed it once when you earnt it.

chucknorris

Fella wrote: »

Well, it won't be 100 times that but if you've accrued enough the Treasury will certainly help itself to another large chunk of it via IHT, despite the fact they already taxed it once when you earnt it.

We have no children and we are currently looking at just how much we have to spend each year (it is a lot) but of course there will be a reasonable amount left over (because you don't know when the end will come), which will be divided amongst friends and the dog's trust/last chance rescue. I won't be in a position to care about it.

Jack_Johnson_the_acorn

Fella wrote: »

That sounds like pure hypocrisy. If it's not, why don't you voluntarily give up 25% of your wealth to the treasury?

I'm sure you don't want to. Why do you think "rich" people should feel any different.

In my experience poor people are every bit as greedy as rich people. Have you ever met anyone who wants to move to a worse area? No you haven't, because no-one does, because everyone is greedy. In fact it's a perfectly natural state, you're designed to be that way.

Unfortunately lots of people who are poor are insanely jealous of anyone rich therefore they like to ascribe faux morality to themselves & simultaneously delight in anything that happens to the rich "b******s".

Personally although IHT isn't something that affects me (unless one of my almost universally skint relatives wins the lottery) I think it's a disgusting tax. The rest of the country can queue up to grasp a chunk of someone's bought & paid for possessions the second they pop it if that's the limit of their ambition. I'd rather endeavour to earn enough to pay for whatever I want myself.

I am in a position to receive 2 rather generously sized lots of inheritance and I won't begrudge being taxed on either amount. In fact all estates should be taxed at an equal rate. Why people believe they have a god given right to free money is beyond me. My parents plan on giving half to charity and half to me and my wife. If I have kids (spaghetti monster forbid) I will be doing exactly the same.

Fella

Most people have already been taxed once on their wealth & it should be theirs & theirs alone to bequeath how they wish. I agree all estates should be taxed equally. At zero percent. Why people believe the state has a right to a chunk of someone's possessions the second they die is beyond me.

Jack_Johnson_the_acorn

Fella wrote: »

Most people have already been taxed once on their wealth & it should be theirs & theirs alone to bequeath how they wish. I agree all estates should be taxed equally. At zero percent. Why people believe the state has a right to a chunk of someone's possessions the second they die is beyond me.

Because it can be used to alleviate poverty, child abuse, crime and generally benefit the nation that the deceased person has been a part of. Rather than simply benefitting 1 person who happens to be related to the deceased.

Fella

Jack_Johnson_the_acorn wrote: »

Because it can be used to alleviate poverty, child abuse, crime and generally benefit the nation that the deceased person has been a part of. Rather than simply benefitting 1 person who happens to be related to the deceased.

If you think the state can decide what to do with your money better than you can, then why are you not intending to donate 100% of your estate to the exchequer so they they can spend it on those worthy causes? Why are you intending to selfishly give most of it to your kids if you have any?

Jack_Johnson_the_acorn

Fella wrote: »

If you think the state can decide what to do with your money better than you can, then why are you not intending to donate 100% of your estate to the exchequer so they they can spend it on those worthy causes? Why are you intending to selfishly give most of it to your kids if you have any?

Firstly 1/2 Isn't most;)

I think taxing is a good method of ensuring that money isnt kept to the undeserving 1%. Not everyone is as charitable as me.

Fella

Jack_Johnson_the_acorn wrote: »

Firstly 1/2 Isn't most;)

I think taxing is a good method of ensuring that money isnt kept to the undeserving 1%. Not everyone is as charitable as me.

You said "My parents plan on giving half to charity and half to me and my wife. If I have kids (spaghetti monster forbid) I will be doing exactly the same. "

So I'm not sure where you get "1/2 Isn't most" from. You're not intending to give ANYthing extra to the exchequer. You want to spend your estate exactly as it suits you, in this case by choosing your charity of choice & giving the rest to your family.

At the same time you see nothing wrong in demanding that "rich" people, purely because they're "rich" should be forced to give a large chunk of their estate to the exchequer.


That's not charitable, it's just hypocrisy. If you believe the exchequer is best placed to decide how to spend people's money you should be intending to bequeath 100% of yours to HMRC.

Jack_Johnson_the_acorn

Fella wrote: »

You said "My parents plan on giving half to charity and half to me and my wife. If I have kids (spaghetti monster forbid) I will be doing exactly the same. "

So I'm not sure where you get "1/2 Isn't most" from. You're not intending to give ANYthing extra to the exchequer. You want to spend your estate exactly as it suits you, in this case by choosing your charity of choice & giving the rest to your family.

At the same time you see nothing wrong in demanding that "rich" people, purely because they're "rich" should be forced to give a large chunk of their estate to the exchequer.


That's not charitable, it's just hypocrisy. If you believe the exchequer is best placed to decide how to spend people's money you should be intending to bequeath 100% of yours to HMRC.

Im not going to explain what the word "most" means but most is actually quite different to 1/2
Of course that makes perfect sense.:rotfl: its not charitable to give money to charity ..... keep up the good work:o

Fella

There's nothing charitable about wanting to decide what happens to your OWN money whilst wanting to see other (rich) people have theirs forcibly taken from them & handed to HMRC.

It's very revealing that you talk about the "undeserving 1%" too. Why are they any more or less deserving than anyone else? You simply consider them undeserving because they have more than you.

Personally I don't have a problem with rich people, good luck to them. As a group they cause me remarkably little stress, they pay their own way, the majority of them contribute large amounts of tax to the exchequer to the benefit of all. To paraphrase Chris Rock, "when I go to the money machine at night, I ain't looking over my shoulder for rich people".