The Next Conservative Budget
Discussion
NicD said:
oh great, you little flower. You say myself and a poster are the only ones not to 'get it', with nothing to back that up, what do you expect? A commendation.
As above, everyone else perfectly understood the point being made!!NicD said:
What don't I understand you arrogant prick.
You clearly don't understand what non-dom status means, otherwise you wouldn't have made the comments you did!
Cheese Mechanic said:
Willy Nilly said:
The people that receive an inheritance receive a payment tax free that they haven't worked for and often don't deserve.
Nice bit of envy snipped out.Incidentally, who the f
k are you to decide if MY kids are worthy of what money of MINE I leave them? Money I have worked for legitimately and already been taxed on? Fact is, what the f
k has MY money got to do with you, or , even, anyone else for that matter, including a stealing government? 
, which we (well I have a bit more) haven't worked for and as far as I am concerned, we don't deserve. All three of us have told our parents to spend it, but you can't change a life times habits. If we get a fiver each it is a fiver more than we have budgeted for, a fiver more than we are expecting and a fiver more than we deserve. As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish
s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. Willy Nilly said:
As it happen, myself, my brother and my sister look set to be fairly likely to get a "decent" inheritance , which we (well I have a bit more) haven't worked for and as far as I am concerned, we don't deserve. All three of us have told our parents to spend it, but you can't change a life times habits. If we get a fiver each it is a fiver more than we have budgeted for, a fiver more than we are expecting and a fiver more than we deserve.
As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfishs with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry.
Really? You honestly can't think of any adverse issues that would result from such a policy?, which we (well I have a bit more) haven't worked for and as far as I am concerned, we don't deserve. All three of us have told our parents to spend it, but you can't change a life times habits. If we get a fiver each it is a fiver more than we have budgeted for, a fiver more than we are expecting and a fiver more than we deserve. As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish
s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. Welshbeef said:
PurpleMoonlight said:
I'm struggling to see any fairness in the IHT increase proposal.
Why should people in more expensive housing get an additional tax break?
Why should people who don't own a home be excluded from the additional tax break?
Why punish people who have worked hard and saved and made da rides throughout their lives v say someone who has lived a lavish lifestyle but has nothing to pass on. Why should people in more expensive housing get an additional tax break?
Why should people who don't own a home be excluded from the additional tax break?
sidicks said:
Really? You honestly can't think of any adverse issues that would result from such a policy?
100% of fk all is fk all. I will not recieve anything from my parents so no tax for me.
However I just dont see how it is fair that people's hard earned wealth should be raided by the Government .
What if we all had the same amount of death duty to pay and if you cant pay your next of kin would have to pay it wouldnt that be fair ,of course it wouldnt.
This budget may be the first budget for a longtime that ctually doesnt punish people for having aspiration.
johnxjsc1985 said:
100% of fk all is fk all.
I will not recieve anything from my parents so no tax for me.
People should think about policy for the benefit of the wider population, not just for their own personal benefit.k all is fk all. I will not recieve anything from my parents so no tax for me.
johnxjsc1985 said:
However I just dont see how it is fair that people's hard earned wealth should be raided by the Government .
What if we all had the same amount of death duty to pay and if you cant pay your next of kin would have to pay it wouldnt that be fair ,of course it wouldnt.
This budget may be the first budget for a longtime that ctually doesnt punish people for having aspiration.
Agreed!What if we all had the same amount of death duty to pay and if you cant pay your next of kin would have to pay it wouldnt that be fair ,of course it wouldnt.
This budget may be the first budget for a longtime that ctually doesnt punish people for having aspiration.
Willy Nilly said:
As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry.
I refer you to my previous post. Aside that, look up the word "envy". While you are at it, , might as well try "Jealousy" and even "spite" . s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. Try aspiring instead of feeling envious of others, that perspective is for inverted loosers. Simple as that.
As for your "inheritance" , I don't give a f
k what you do with yours, but don't deny my kids theirs, ok? Edited by Cheese Mechanic on Sunday 5th July 19:36
sidicks said:
Willy Nilly said:
As it happen, myself, my brother and my sister look set to be fairly likely to get a "decent" inheritance , which we (well I have a bit more) haven't worked for and as far as I am concerned, we don't deserve. All three of us have told our parents to spend it, but you can't change a life times habits. If we get a fiver each it is a fiver more than we have budgeted for, a fiver more than we are expecting and a fiver more than we deserve.
As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfishs with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry.
Really? You honestly can't think of any adverse issues that would result from such a policy?, which we (well I have a bit more) haven't worked for and as far as I am concerned, we don't deserve. All three of us have told our parents to spend it, but you can't change a life times habits. If we get a fiver each it is a fiver more than we have budgeted for, a fiver more than we are expecting and a fiver more than we deserve. As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish
s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. If there was a "spend it or loose it policy", do you think people would sit back and let HMRC take it all as tax? Doubt it, they more than likely start spending it, which would benefit people with goods a services to sell and thus the wider economy. It will never happen though.
Cheese Mechanic said:
Willy Nilly said:
As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry.
I refer you to my previous post. Aside that, look up the word "envy". While you are at it, , might as well try "Jealousy" and even "spite" . s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. Try aspiring instead of feeling envious of others, that perspective is for inverted loosers. Simple as that.
As for your "inheritance" , I don't give a f
k what you do with yours, but don't deny my kids theirs, ok? Edited by Cheese Mechanic on Sunday 5th July 19:36
I can think of a lot of people that have never had to go out and look for work, yet are running a business thanks to inheritance.
If your kids are so ill prepared for life they need a hand out from mum and dad then, well, at least I'm not paying for it via the state.
Willy Nilly said:
Why would I be jealous or envious when I am likely to get a decent inheritance myself? Obviously I'm not going to turn any money down, but it is far more satisfying having a modest amount of money in my bank account that I have earned and paid tax on than a larger sum that has been given to me.
In that case, feel free to give the money to charity or to HMRC or whatever - no-one is forcing you to take the inheritance!!Willy Nilly said:
As far as we (my siblings and I) are concerned, mum and dad can piss the lot up against the wall, it's their money, they earned it, we don't need it (but will take it if offered) and they can do what they like with it. If when their car needs a service and they trade in for a new car instead, that's fine. Expensive trip abroad? Fine too. Go and enjoy it.
I can think of a lot of people that have never had to go out and look for work, yet are running a business thanks to inheritance.
I can think of many more that have never had to go out and look for work due to the benefits system - no idea what your point is?I can think of a lot of people that have never had to go out and look for work, yet are running a business thanks to inheritance.
If these people are running a business poorly then the business won't last very long!
Willy Nilly said:
If your kids are so ill prepared for life they need a hand out from mum and dad then, well, at least I'm not paying for it via the state.
You appear to be very confused about who the money belongs to!!There is an argument that says the more I leave my children the less they will need from the state or anyone else.
If my children already have houses and are running my business then they will continue paying into the system as contributors and not taking out.
If a portion of my estate gets taken in death duty/inheritance tax then it may mean the business has to be asset stripped to pay it and then be unable to continue earning either at all or in a significantly reduced capacity, thus all the various taxes we pay will be nil or much reduced.
Given the business has operated for 40+ years the "system" has done very fking well out me/us and could continue to do so as long as we are left alone.
If my children already have houses and are running my business then they will continue paying into the system as contributors and not taking out.
If a portion of my estate gets taken in death duty/inheritance tax then it may mean the business has to be asset stripped to pay it and then be unable to continue earning either at all or in a significantly reduced capacity, thus all the various taxes we pay will be nil or much reduced.
Given the business has operated for 40+ years the "system" has done very f
king well out me/us and could continue to do so as long as we are left alone.Cheese Mechanic said:
Willy Nilly said:
As I said, my line of work features a lot of people that have got where they have got largely through inheritance and for the most part these people are a bunch of ungrateful, selfish s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry.
I refer you to my previous post. Aside that, look up the word "envy". While you are at it, , might as well try "Jealousy" and even "spite" . s with a huge sense of entitlement and because of these people, if inheritance tax was set at 100% I for one would not worry. Try aspiring instead of feeling envious of others, that perspective is for inverted loosers. Simple as that.
As for your "inheritance" , I don't give a f
k what you do with yours, but don't deny my kids theirs, ok? Don't forget the parents who own their estate, ie property, cash etc, have chosen to do that, even if they themselves inherited. They have in effect deferred the pleasure of their total estate presumably to help their family. If they were to liquidise and spend on foreign holidays, cars, travel etc, a lot of that would benefit people abroad etc, foreign owned companies etc. Why would you bother owning property if you basically give it back to the state, in effect you 'borrow' your own house, but pay handsomely for the privelege. Your hard earned then subsidies those who just coast in this country, and take out a lot more than they put in.
Edited by Cheese Mechanic on Sunday 5th July 19:36
Willy Nilly said:
Why would I be jealous or envious when I am likely to get a decent inheritance myself? Obviously I'm not going to turn any money down, but it is far more satisfying having a modest amount of money in my bank account that I have earned and paid tax on than a larger sum that has been given to me. As far as we (my siblings and I) are concerned, mum and dad can piss the lot up against the wall, it's their money, they earned it, we don't need it (but will take it if offered) and they can do what they like with it. If when their car needs a service and they trade in for a new car instead, that's fine. Expensive trip abroad? Fine too. Go and enjoy it.
I can think of a lot of people that have never had to go out and look for work, yet are running a business thanks to inheritance.
If your kids are so ill prepared for life they need a hand out from mum and dad then, well, at least I'm not paying for it via the state.
Reality is if they do need a care home it will gobble away huge amounts very quickly. I can think of a lot of people that have never had to go out and look for work, yet are running a business thanks to inheritance.
If your kids are so ill prepared for life they need a hand out from mum and dad then, well, at least I'm not paying for it via the state.
Out of interest is it all self earned money which your parents have or have they had any inheritance from either set of parents? Just interested in why you think they should piss up the wall their windfall which they didn't earn.
Regardless I'm with you on the point it's my parents or my wife's parents it is their money and I don't expect to receive a penny. If they choose to leave any / and don't use it all up that would be great. I don't however believe any tax should be paid on that -- as time nears I'd go down the 7 year rule to transfer assets so in any case there would be no IHT coming from these estates.
Lots of reference to 'hard-earned' and 'tax already paid', but let's not kid ourselves that most of the wealth in question for this tax is an unearned windfall by way of house price inflation.
I am all for rewarding hard work and investments, but having your main residence treble from £300k to £1m wasn't because you put in more hours at work or because you showed entrepreneurial zeal!
I am all for rewarding hard work and investments, but having your main residence treble from £300k to £1m wasn't because you put in more hours at work or because you showed entrepreneurial zeal!
oyster said:
Lots of reference to 'hard-earned' and 'tax already paid', but let's not kid ourselves that most of the wealth in question for this tax is an unearned windfall by way of house price inflation.
I am all for rewarding hard work and investments, but having your main residence treble from £300k to £1m wasn't because you put in more hours at work or because you showed entrepreneurial zeal!
Agreed, but it also underlies the case for private wealth to be distributed according to the wishes of it's owner I am all for rewarding hard work and investments, but having your main residence treble from £300k to £1m wasn't because you put in more hours at work or because you showed entrepreneurial zeal!
If £1m is the house price now, then without that money being passed on then we will eventually be priced out of our own country by inherited wealth from overseas, as they will be the only ones who can afford housing...
IHT is a bit of a sideshow, but nonetheless shows the direction of travel of a Tory government... Prioritise the rich and property owners.
I still don't understand how I or anyone else can say that the massive rise in our house prices is a result of our hard work. This unearned and tax free increase in asset value is at the heart of the IHT debate.
Benefit cuts will do some serious damage. Tax credits are flawed, and have had serious unintended consequences, but the spurious notion that reductions in tax credits will be offset by an increase in IT thresholds is nonsense. Millions of tax credit recipients don't pay IT already. I don't see that wages will magically rise to fill the gap. How about raising Eers NI threshold on all jobs that pay the living wage?
Still, I understand that the Tories have now abolished poverty, so that's fine..
Further reductions to local government will cripple them - depends where you live of course as to how big the cuts are/ will be. Look at the damage to sports participation as a tiny example of how LA services are withering away.
I still don't understand how I or anyone else can say that the massive rise in our house prices is a result of our hard work. This unearned and tax free increase in asset value is at the heart of the IHT debate.
Benefit cuts will do some serious damage. Tax credits are flawed, and have had serious unintended consequences, but the spurious notion that reductions in tax credits will be offset by an increase in IT thresholds is nonsense. Millions of tax credit recipients don't pay IT already. I don't see that wages will magically rise to fill the gap. How about raising Eers NI threshold on all jobs that pay the living wage?
Still, I understand that the Tories have now abolished poverty, so that's fine..
Further reductions to local government will cripple them - depends where you live of course as to how big the cuts are/ will be. Look at the damage to sports participation as a tiny example of how LA services are withering away.
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