9.9bn Quid, 0% tax. Tell me PH, How is this fair?

[BJG1]

sidicks said:

Strictly speaking no-one has been 'handed' anything - hence why IHT is NOT due!

Yes, appreciate that - I don't think IHT is the best method to deal with this particular situation tbf. I really don't like the way power of this magnitiude can be passed down from generation to generation - I'm unsure of the solution.

sidicks said:

Perhaps you can remind me where I made such a statement?

I was going on your assumption I thought the Government should be given the money to do with as it wishes. I don't - I always like to see the State have as little involvement as possible.

sidicks said:

'Some form' is the key - as it stands IHT involves far too many estates - it should be the exception, not the norm.

I'm not really fussed about low value estates, couldn't care less if the threshold is £350k or £1m.

[turbobloke]

BJG1 said:

sidicks said:

Strictly speaking no-one has been 'handed' anything - hence why IHT is NOT due!

Yes, appreciate that - I don't think IHT is the best method to deal with this particular situation tbf. I really don't like the way power of this magnitiude can be passed down from generation to generation - I'm unsure of the solution.

There's no problem to solve

Laws around tax aren't meant to resolve our dislikes (or likes).

[BJG1]

turbobloke said:

There's no problem to solve

I disagree.

[turbobloke]

BJG1 said:

turbobloke said:

There's no problem to solve

I disagree.

I know

[Welshbeef]

sidicks said:

zygalski said:

Perhaps you know better than me, but I don't remember paying out tax on the £170,000 equity in 16 years on my last property. The mortgage when I sold at it's height was a shade over £600 per month

What was inflation over the period?
How much interest did you pay over the period?

You will never get an answer to this - unless of course it's to the popes salary inequalities.

[Hosenbugler]

el stovey said:

Hosenbugler said:

Oh dear, more pompous patronising.

As repeatedly said, you support stealing from my kids, against my wishes. Waffling symantics are irrelevant.

Hilarious. Any other legal taxation you regard as stealing from your kids (against your wishes) or is it just inheritance tax?

Any tax is unwelcome, inheritance tax is just that, stealing from my kids. You think its that funny, no doubt you'll leave all your assets (if you have any) to the state.

Anyhow, I've had quite enough of interacting with corpse robbers, off for tea and decent company.

[BJG1]

Ah, you're one of those who thinks his success is entirely his own and has no need to contribute anything back to the society that has enabled you to not have to walk 20 miles for water or st outdoors.

[PurpleMoonlight]

BJG1 said:

Ah, you're one of those who thinks his success is entirely his own and has no need to contribute anything back to the society that has enabled you to not have to walk 20 miles for water or st outdoors.

This sort of comment just demeans the validity of your argument.

[BJG1]

PurpleMoonlight said:

This sort of comment just demeans the validity of your argument.

Well I'm not sure how else to interpet "any tax is unwelcome"

[sidicks]

BJG1 said:

Ah, you're one of those who thinks his success is entirely his own and has no need to contribute anything back to the society that has enabled you to not have to walk 20 miles for water or st outdoors.

The vast majority of those who have an estate that would be above the IHT threshold are likely to be those that have already contributed vastly more than their 'fair share' to society, before they died.

[PurpleMoonlight]

BJG1 said:

Well I'm not sure how else to interpet "any tax is unwelcome"

Lets face it, not many people would say they enjoy paying tax. Most accept it's a necessary evil, providing it's fair and proportionate. Many, perhaps most, think that IHT isn't.

[Welshbeef]

sidicks said:

The vast majority of those who have an estate that would be above the IHT threshold are likely to be those that have already contributed vastly more than their 'fair share' to society, before they died.

If wager Corbyn would disagree hugely on this

[BJG1]

sidicks said:

The vast majority of those who have an estate that would be above the IHT threshold are likely to be those that have already contributed vastly more than their 'fair share' to society, before they died.

Yes, but they're dead, so you have to consider the inheritor as well. I think I probably have a fundamentally different opinion on the rights of dead people to most, I don't think they have any at all. They don't have the right to their property, to choose what happens to their corpse, nothing. They are dead and as such, the legal entity of a human which once existed doesn't any more. Post-houmous wishes are at the complete discretion of the living.

Also, in the case this thread is about, whilst you may argue he has contributed to society, it's quite easy to do so when you inherit one of the largest fortunes in the world, a privillege I believe has been wrongly afforded to him and his ancestors for generations

[sidicks]

Welshbeef said:

If wager Corbyn would disagree hugely on this

Yes, but Corbyn is a moron!

[BJG1]

PurpleMoonlight said:

BJG1 said:

Well I'm not sure how else to interpet "any tax is unwelcome"

Lets face it, not many people would say they enjoy paying tax. Most accept it's a necessary evil, providing it's fair and proportionate. Many, perhaps most, think that IHT isn't.

I think there's a big difference between enjoying it and welcoming it. I'm coming to my conclusion based on both that statement and the content of his previous posts.

I don't particularly enjoy paying tax but I certainly welcome it. I'd pay it if I didn't have to.

[zygalski]

BJG1 said:

I'm not a socialist, I'm a free-market capitalist and classical liberal

I'm likely to both inherit and leave estates on which swignificant amounts of IHT are due, so I don't think I'd consider myself envious or jealous either. I've done plenty well enough for myself to not cast envious eyes at the wealth of others.

I don't think it's my business to know what others have and I've not said anything to that effect in this thread. I've simply supported the idea of returning assets to the market from which they were purchased on death and ensuring we don't entrench wealth, leading to inefficient use of assets.

There's no need to be so aggressive and angry, as I said, I just have a different opinion to you on how to create the fairest society. No need to get so worked up by it and continue to attack individuals rather than make any sort of coherent argument in favour of your position.

I think those in this thread who accuse you & I (who will both pay IHT & won't resent doing so) of being envious need to take a good hard look in the mirror. To make such obviously flawed assumptions about people whose financial situations they clearly know nothing about smacks of insecurity to me.

[PurpleMoonlight]

BJG1 said:

I think there's a big difference between enjoying it and welcoming it. I'm coming to my conclusion based on both that statement and the content of his previous posts.

I don't particularly enjoy paying tax but I certainly welcome it. I'd pay it if I didn't have to.

You can volunteer to pay more you know.

[zygalski]

el stovey said:

Hosenbugler said:

Oh dear, more pompous patronising.

As repeatedly said, you support stealing from my kids, against my wishes. Waffling symantics are irrelevant.

Hilarious. Any other legal taxation you regard as stealing from your kids (against your wishes) or is it just inheritance tax?

Probably thinks the only 'fair' tax is VAT, because proportionately it hits the poorer in society hardest & therefore encourages them to better themselves

[andy_s]

No skin off my nose, good luck to him.

[BigMon]

sidicks said:

The vast majority of those who have an estate that would be above the IHT threshold are likely to be those that have already contributed vastly more than their 'fair share' to society, before they died.

What would you define as a 'fair share' to society?

Generally (unless you have very creative accountants) the more you earn or have the more tax you pay. It's not a difficult concept.