Your are viewing a read-only archive of the old DiS boards. Please hit the Community button above to engage with the DiS !
I couldn't give a shit if the threshold is raised, so long as it doesn't have consequences on other taxpayers
How could it not? It is tax money being taken away by the limit raised
Quite feasibly really
If less money's coming into the treasury from inheritance tax, the government's got to find more from elsewhere, be it cuts in funding or tax increases on something else.
I thought even you'd be able to suss that one out. As the media and Tories keep pointing out, there's barely any room for manoeuvre in the budget at the moment, so any changes made in spending/tax need to be balanced on the other side somehow.
they'll Cut Red Tape.
rocketed in price over the last 18 months
has the credit crunch affected the price of scissors?
luxury - i have to bit bits of my toenails and if they're sharp enough i can use them to score through things
It'd guarantee them my vote.
You don't think inheriting £2 million tax free has any impact on your opportunities, relative to other people?
Inherited wealth is one of the greatest barriers to a true meritocracy in this country.
Whether you believe in the ideal of a meritocracy or not, surely you've got to agree that people getting education, experience, contacts, jobs and ultimately power, on the basis of their parents bank account is not healthy for the economy or country?
private school's "life experience" is far more useful to you than any other, to be perfectly honest.
have to diwht anything?
How does someone's education, experience and contacts relate to their inheritance?
that should fix everything.
the more I think about it, the more this idea on inheritance tax does annoy me. There should be greater breaks for people inheriting smaller amounts though
to £600,000 last year.
Despite what vast swathes of the population believe, the £300,000 threshold was affecting only the top 6% of estates anyway.
it affects 6% of estates because most people have disposed of their assets by the time they reach old age. at any given time, something like 25% of estates would be eligibile for inheritance tax and obviously people don't know when they are going to die.
with people inheriting larger amounts of money paying more tax.
they wont be taxing rich cunt (x), which means you will be further up shit creek sans paddle and they will sail past on their shit-faring yacht (or at least their kids will)
not add to it.
It currently (Dec 2007) raises £3.89 billion pounds a year. This isn't just tinkering around the edges of the thresholds, this will take a sizeable chunk out of that amount.
don't spend their extra money, they save it. tax breaks to the rich don't boost consumption.
1. A desire to reduce the overall tax burden through eliminating waste, with
2. A desire to reduce the tax burden of a certain strata of society at the expense of all of the others.
Don’t seek to dress up your support of the latter by cloaking it in the former.
Unless the government currently has some kind of magic, separate 'botched projects' pot that they're sitting on.
and i fucking hate tories.
It could be lowered if anything. I think some of technical bits and loopholes of it should be fixed. Otherwise, inheritance tax = good.
Also, families inheriting £2m+ will be able to loophole the shit out of it, no doubt. Moving accounts abroad, etc. So bascially, hardly anyone will end up paying it. Great stuff.
I remember reading an article at university about the factors which influenced whether or not someone was likely to be set up their own business and be successful.
It said that the key factor was not a risk taking personality, but that they inherited a significant pot of money at a young age.
From the abstract:
"The factors that affect the supply of entrepreneurs are important
but poorly understood. We study a sample of individuals who
choose either to be employees or to run their own businesses.
Four conclusions emerge. First, consistent with the existence of
borrowing constraints on potential entrepreneurs, we find that
the probability of self-employment depends markedly upon
whether the individual ever received an inheritance or gift."
Now the Tories would say this is an argument for cutting inheritance tax but most inheritances go to people over the age of 50 who rarely start up businesses.
Surely it is an argument for a much lower threshold and a much higher rate of IHT which would encourage parents to dismantle their estate, release capital from their overpriced homes etc to pass on to their children early?
let's cut the basic rate of income tax or national insurance then. Something that'll actually help everyone.
Only 44,000 estates paid IHT in 2007/8 - this does nothing for the vast majority of the country.
had promised to match Labour's spending plans for the first three years in office?
I might be wrong in that, but it would imply that a shortfall will occur somewhere.
said a Tory govt. would spend more money on the NHS than the current one. He also said the government should stop allocating money to poor areas because "if money was all that mattered, Wokingham would be the least healthy place in the UK"
I cannot believe that people have forgotten how much these people are cunts
People should be embarrassed to die rich, it's like saying you worked too hard or hated other people too much.
Inheritence tax: a tax on the living recipients. The dead pay nothing, it's not as though they can't have decent funeral for £300k is it?