No country for young men — UK generation gap widens

lisyloo

The NORM is changing

People are living longer so in general beneficiaries will be older.

N1AK

chucknorris wrote: »

Yeah, nobody wants to inherit £10m and be lumbered with a £4m tax bill, nobody outside of an asylum that is.

When the alternative was saving £10 million buying your house and not having a tax bill at all then I'll take the alternative if wanting to be better off is analogous to insanity in your view then feel free to call me insane.

Cyberman60

N1AK wrote: »

No your not funding anyone. If you've only just managed to pay off your mortgage then you clearly didn't have a high enough income to be one of the ~20% of people who pay as much or more in tax than they receive in state services.

Moan all you like about 'just' getting £728 pa more for doing nothing. You don't begrudge them the benefits, but you'll happily defend the policies that are slashing them and handing the money to wealthier pensioners instead... How very noble.

Wealthy pensioners pay tax and will for that reason may well lose 20% to 40% of their state pension anyway via income tax applicable over 10,000 quid or so.
Many forget this, or perhaps never knew in the first place !!! :rotfl:

N1AK

ukcarper wrote: »

How do you know how boomers are voting the one thing for sure is they are not voting as a group.

As much as I hate the Mail I appreciate that it has a special place in the Diana loving hearts of many boomers

chucknorris

N1AK wrote: »

When the alternative was saving £10 million buying your house and not having a tax bill at all then I'll take the alternative if wanting to be better off is analogous to insanity in your view then feel free to call me insane.

What on Earth are you talking about? The scenario is, you inherit £10m from someone else and pay £4m of it in tax. How is saving £10m yourself an alternative to inheriting £10m from someone else? Well if you insist, you are insane.

N1AK

Cyberman60 wrote: »

Wealthy pensioners pay tax and will for that reason may well lose 20% to 40% of their state pension anyway via income tax applicable over 10,000 quid or so.
Many forget this, or perhaps never knew in the first place !!! :rotfl:

Thanks for reminding me, as a non-pensioner I am so glad that only they are forced to pay tax...

I currently have aspirations of one day making it as a wealthy pensioner. I will live with the burden of paying tax then, which is made easier by the fact that fact that I get a few grand of tax a year back currently for paying into my pension. It would be more than a little selfish to expect tax deductions on contributions now, and not to be taxed when I take the pension as well

Cyberman60

lisyloo wrote: »

People are living longer so in general beneficiaries will be older.

Not once the islamic civil war in the UK kicks off.......

N1AK

chucknorris wrote: »

What on Earth are you talking about? The scenario is, you inherit £10m from someone else and pay £4m of it in tax. How is saving £10m yourself an alternative to inheriting £10m from someone else? Well if you insist, you are insane.

Were you incapable of reading as far as point b) without being distracted by the need to respond? Obviously if inheritance tax was the only factor then inheriting more is better that's such a strikingly obvious point that I, falsely it seems, assumed you were making a more nuanced one.

N1AK

Cyberman60 wrote: »

Not once the islamic civil war in the UK kicks off.......

Here you go Graham, bet every time you see stuff like this it makes you proud of your flag waving for the monster raving racist party?

Cyberman60

N1AK wrote: »

Thanks for reminding me, as a non-pensioner I am so glad that only they are forced to pay tax...

I currently have aspirations of one day making it as a wealthy pensioner. I will live with the burden of paying tax then, which is made easier by the fact that fact that I get a few grand of tax a year back currently for paying into my pension. It would be more than a little selfish to expect tax deductions on contributions now, and not to be taxed when I take the pension as well

The way things are going many high earners may well be taxed on contributions, as the rumour is that only 20% may be allowed. Thus you may be taxed twice, once before you pay in and again on taking out.