More ways to soak you...
Discussion
Labour’s true colours are emerging (yet again), with the news that they are looking at taking even more money from their citizens, this time more from the bereaved.
That weasel communist Blunkett, who has somehow wormed his way back into a job working for Bliar, is coming up with ever more inventive ways to soak thrifty families no doubt to pay for the expanding public sector and their other barmy socialist schemes (and the £30 billion plus and counting cost of the Iraq conflict).
After someone (or a couple), who of course have been paying for a house out of their taxed income, probably for most of their working life, die and leave it in their estate, it is currently the situation whereby the beneficiaries fork out 40% of the value of the estate of over £250,000 straight to the government. Pretty bad.
Now they are thinking of various ways they might start penalising even further these beneficiaries.
To quote Blunkett "...[i]If you live in London or the Southeast and you inherit a house from a relative the chances are, if that relative is in his seventies or eighties, there will be no mortgage on it. And give house prices in London and the Southeast the chances are it will be the equivalent of winning the lottery. That’s very different from someone who’s historically rented all their lives. Therefore, there will be a big differential and it will be about the capital assets that people have and not just their income. We need to put that into the equation, which is what I intend to do in the next few months[/i]..."
So folks, you thought it was worth working your guts out to pay for your house and pass it to your children? After all, you’ll have paid for it out of taxed income and there’ll be big inheritance tax on it as well, but at least it's nice to give the children something out of what's left.
It looks like there may be a new tax on the assumed rental value, maybe to reduce your pension entitlement. Whatever, it'll mean more tax to pay or a reduced pension. Surely, this will cause even more people to leave these shores for good.
Why not p155 it all up the wall, there’s no point saving.
...and the government are worried that people aren’t saving enough for their retirement! I wonder why! Are they completely bloody mad, what’s the point in being careful if you’re just going to be penalised by envious communists with a chip on their shoulder?
That weasel communist Blunkett, who has somehow wormed his way back into a job working for Bliar, is coming up with ever more inventive ways to soak thrifty families no doubt to pay for the expanding public sector and their other barmy socialist schemes (and the £30 billion plus and counting cost of the Iraq conflict).
After someone (or a couple), who of course have been paying for a house out of their taxed income, probably for most of their working life, die and leave it in their estate, it is currently the situation whereby the beneficiaries fork out 40% of the value of the estate of over £250,000 straight to the government. Pretty bad.
Now they are thinking of various ways they might start penalising even further these beneficiaries.
To quote Blunkett "...[i]If you live in London or the Southeast and you inherit a house from a relative the chances are, if that relative is in his seventies or eighties, there will be no mortgage on it. And give house prices in London and the Southeast the chances are it will be the equivalent of winning the lottery. That’s very different from someone who’s historically rented all their lives. Therefore, there will be a big differential and it will be about the capital assets that people have and not just their income. We need to put that into the equation, which is what I intend to do in the next few months[/i]..."
So folks, you thought it was worth working your guts out to pay for your house and pass it to your children? After all, you’ll have paid for it out of taxed income and there’ll be big inheritance tax on it as well, but at least it's nice to give the children something out of what's left.
It looks like there may be a new tax on the assumed rental value, maybe to reduce your pension entitlement. Whatever, it'll mean more tax to pay or a reduced pension. Surely, this will cause even more people to leave these shores for good.
Why not p155 it all up the wall, there’s no point saving.
...and the government are worried that people aren’t saving enough for their retirement! I wonder why! Are they completely bloody mad, what’s the point in being careful if you’re just going to be penalised by envious communists with a chip on their shoulder?
So lets see all lottery winners taxed then, 'cos that's unfair on those that don't win...isn't it?
ing Blunkett! You choose whether to buy your own home or rent, and you choose to play the lottery. I know, lets tax choice... we don't like choice because some people might make better choices than others, and that's not fair!
Aaaaaargh!!!
ing Blunkett! You choose whether to buy your own home or rent, and you choose to play the lottery. I know, lets tax choice... we don't like choice because some people might make better choices than others, and that's not fair! Aaaaaargh!!!
So when I retire I'm selling the house and buying a smaller one in a less expensive area. When the money runs out I'm going to sell the cheaper house and rent.
There's a jolly good chance I'll pop off before the money runs out for the second time. If it doesn't? I'll let the State look after me.
After all - I'm paying an exorbitant amount of tax now...hope to get some back later.
[yoda]
Get from me not a penny they will.
[/yoda]
There's a jolly good chance I'll pop off before the money runs out for the second time. If it doesn't? I'll let the State look after me.
After all - I'm paying an exorbitant amount of tax now...hope to get some back later.
[yoda]
Get from me not a penny they will.
[/yoda]
Jaglover said:
They are the party of the smnall minded and envious and wish to drag everyone else down to their level.
It's not their level though. They're all living the fat-cat life on the taxpayers' backs. They want to drag everyone down to the level below them, and keep 'em there.
Witchfinder said:
It's not their level though. They're all living the fat-cat life on the taxpayers' backs. They want to drag everyone down to the level below them, and keep 'em there.
Well said, and there's a huge lacuna between the two. Can anyone remember if Tony gave any justification for bringing Blunderkett back into the Cabinet? The gall of these people is overwhelming.
Remeber folks - if you don't let them know your feelings, your local MPs will ignore stuff like this. It doesn't matter whos side they're on, they're meant to represent you, and these days if you don't make a fuss then you don't count. www.writetothem.com/
Of course, this is squarely aimed at middle England - MPs, lawers and the truly rich will manage to avoid such penalties through loopholes managed by their accountants. Everyone else gets screwed.
Maybe I'm missing the point, but what is actually wrong with coming into some money? Why does Blunkett feel that this is something that has to be 'fixed'? Is the budget so close to collapse that they have to mither bereaving families for a few more pounds?
Of course, this is squarely aimed at middle England - MPs, lawers and the truly rich will manage to avoid such penalties through loopholes managed by their accountants. Everyone else gets screwed.
Maybe I'm missing the point, but what is actually wrong with coming into some money? Why does Blunkett feel that this is something that has to be 'fixed'? Is the budget so close to collapse that they have to mither bereaving families for a few more pounds?
Also dont smoke or eat unhealthily ot speed or put your life in danger in anyway in case you die too soon, wouldn't want you missing out on all those taxes the govt needs. Oh and by the way dont live too long or you will be a burden on everyone else.
Also have lots of kids its good for the economy, except that the world is overpopulated and their wont be enough resources to go round as we have squandered them all, oh and dont let those natsy immigrants in, there isn't enough room on this tiny island for them.
Also have lots of kids its good for the economy, except that the world is overpopulated and their wont be enough resources to go round as we have squandered them all, oh and dont let those natsy immigrants in, there isn't enough room on this tiny island for them.
Don said:
So when I retire I'm selling the house and buying a smaller one in a less expensive area. When the money runs out I'm going to sell the cheaper house and rent.
There's a jolly good chance I'll pop off before the money runs out for the second time. If it doesn't? I'll let the State look after me.
After all - I'm paying an exorbitant amount of tax now...hope to get some back later.
[yoda]
Get from me not a penny they will.
[/yoda]
That seems like a damn good idea.
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