An Evening With... Jeremy Corbyn

cells

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/541407/Table_12-3.pdf

up the numbers 50% (IHT tax take up)
multiply by 30-35 year (age between generations)

results in ~8 million estates leaving between £120k to £3million+ per generation. Each estate will typically leave something for at least 2 people usually more lets say 3 people. That means 24 million people receive inheritances per generation. That is about half the adult population of the country. And of course a household of say husband/wife/children all benefit if say the wife gets an inheritance

They get gifted a sum of capital equal to about a house if not more


Does the left understand this when they cry that everything is !!!! for everyone? That half, potentially more than half of the population are not only not poor not on min wage not on zero hours but on decent wages and get capital equal to or much more than a house when they inherit.


oh and not forgetting that gifted wealth, to aviod IHT or simply to sort out your affairs before mental or physical disability kicks in, is possibly on the same sort of scale.

Like I keep saying, wealth in the UK is vast and its spread to a very large portion of the population. Poor young left wing voters stop voting for more tax left wing policies when they get good jobs and inherit vast sums they that they are then not so keen on 'distributing'

Conrad

I agree with you Cells, so much vast wealth around, much of it quite hidden to officialdom. As long as you work hard and smart there is a world of opportunity out there, Ive had many dealings with immigrant clients that came here in the last 10 years with nothing that went on to found cleaning companies and so on and instead of whinging and worrying about the past generation just happily got on with investing and buying property, often far from where they worked, in a happy go lucky manner and now they are sitting quite comfortably already

One of many examples is a Lithuanian that invested in cheap detached houses in East Anglia which he let out as rooms, initially on the basis he was to live in the first one, then the second one so only put down 10%. He now makes £2 k per month rental profit from these first two and his catering training business nets him around £4K p month, but of course his Accountant makes it look like he has a much lower personal income, all within the rules

Life is all about attitude, he's just a youngish lad with no qualifications but he right attitude and doesn't waste energy on whinging

fatbeetle

Two blokes are stood by the side of a road, one a Tory voter the other a Labour voter, when a guy drives past in a top of the range Jaguar F-TYPE.

As they watch him pass the Tory guy thinks; "one day I'll be in one of those." The Labour guy thinks; "one day I'll have you out of that."

seven-day-weekend

fatbeetle wrote: »

Two blokes are stood by the side of a road, one a Tory voter the other a Labour voter, when a guy drives past in a top of the range Jaguar F-TYPE.

As they watch him pass the Tory guy thinks; "one day I'll be in one of those." The Labour guy thinks; "one day I'll have you out of that."

....if I can't have one, no-one should.

That's the mentality.

N9eav

Creative article and I agree with a lot of the sentiment. It does seem crazy that private companies run most of the services and make huge profits. But why were there losses when the government ran those services? How can we make sure that we all see the benefits if there was re-nationalisation?

mwpt

Conrad wrote: »

I agree with you Cells, so much vast wealth around, much of it quite hidden to officialdom. As long as you work hard and smart there is a world of opportunity out there, Ive had many dealings with immigrant clients that came here in the last 10 years with nothing that went on to found cleaning companies and so on and instead of whinging and worrying about the past generation just happily got on with investing and buying property, often far from where they worked, in a happy go lucky manner and now they are sitting quite comfortably already

Well, you can't quite use that as an argument. It isn't exactly back breaking work signing a mortgage document.

I have a lot of respect for people who start a business that enriches people's lives in the capitalist sense by creating a good or service people want. Not so much for people who sign a dotted line to use debt to remove a property from the market and rent it back to other people.

westernpromise

seven-day-weekend wrote: »

....if I can't have one, no-one should.

That's the mentality.

Or "You b~stard, you only paid £2k for that new and now it's £95k, it's not faaaaaaair, give me your bl00dy car...."

CLAPTON

mwpt wrote: »

Well, you can't quite use that as an argument. It isn't exactly back breaking work signing a mortgage document.

I have a lot of respect for people who start a business that enriches people's lives in the capitalist sense by creating a good or service people want. Not so much for people who sign a dotted line to use debt to remove a property from the market and rent it back to other people.

the vast majority of jobs today are not back breaking: do you think we should reward manual labour more that using our brains?

mwpt

CLAPTON wrote: »

the vast majority of jobs today are not back breaking: do you think we should reward manual labour more that using our brains?

I used the term back breaking as a substitute for lots of hard work. Could you really not figure that out?

ruggedtoast

cells wrote: »

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/541407/Table_12-3.pdf

up the numbers 50% (IHT tax take up)
multiply by 30-35 year (age between generations)

results in ~8 million estates leaving between £120k to £3million+ per generation. Each estate will typically leave something for at least 2 people usually more lets say 3 people. That means 24 million people receive inheritances per generation. That is about half the adult population of the country. And of course a household of say husband/wife/children all benefit if say the wife gets an inheritance

They get gifted a sum of capital equal to about a house if not more


Does the left understand this when they cry that everything is !!!! for everyone? That half, potentially more than half of the population are not only not poor not on min wage not on zero hours but on decent wages and get capital equal to or much more than a house when they inherit.


oh and not forgetting that gifted wealth, to aviod IHT or simply to sort out your affairs before mental or physical disability kicks in, is possibly on the same sort of scale.

Like I keep saying, wealth in the UK is vast and its spread to a very large portion of the population. Poor young left wing voters stop voting for more tax left wing policies when they get good jobs and inherit vast sums they that they are then not so keen on 'distributing'

Thanks for letting us know. I'll share the good news with everyone who isn't a well off, property owning, resident of the home counties looking forward to a £120k to £3 million inheritance to pay off those sticky last 30 payments on the Audi.

Not a single one of whom you appear to know. Or even apparently believe exists.