Same old Tories...

[Moshe Gariani]

If you wanted to extend the gulf between rich and poor, impede social mobility, and reduce equality of opportunity is there anything you could do that would be more effective than abolishing inheritance tax...?

Brown should call an election this afternoon using the slogan "Is that all they've got...?"

 

[Gully]

So, if they abolish inheritance tax (effectively a tax on the estates of the wealthy, who are dead and don't need it any more), how are they going to balance the books without a substantial reduction in public services, or increase in tax on the living? Oh, hang on, that is Old Tory...if my memory serves me right.

 

[tedebear]

and reduce equality of opportunity

What does that mean? and why would inheritance tax effect it?

 

[Hatterlovesbrighton]

I think cutting inheritance tax will be a highly popular policy with middle england. So to I think will be the changes in stamp duty.

 

[Simster]

The more the Labour party is seen to squander any increases they charge in tax, the more likely the tory party is to be elected with truly shite policies like these.

The lesson to be learnt is that the Labour party should start looking to increase efficiency with the tax it already collects. I'm afraid "middle England" (i.e. about 70% of the country) gets a little pissed off when council taxes double for f*** all return - and when school spending increases without significant improvements in results.

 

[NMH]

Now NOW you people, if you are labour voters, you are supposed to be THICK - not able to actually THINK about what the tories mean when they are being so generous!

 

[Marshy]

come on the blues

 

[Moshe Gariani]

What does that mean? and why would inheritance tax effect it?

simply that everyone has an equal "opportunity" to educate themselves and work to get a good job/life... inheritance tax helps towards that aim in more than one way...

 

[Badger]

So, if they abolish inheritance tax (effectively a tax on the estates of the wealthy, who are dead and don't need it any more)

I would harldy say you have to be wealthy to be affected by inheritance tax. The threshold is £250,000 which is the value of a fairly standard family home these days. I don't think it should be entirely abolished but I do think it should be increased to come in line with current day assets. People spend most of their working life paying for their house and paying taxes and then end up paying another tax after they die.

 

[Lord Bracknell]

I'm afraid "middle England" (i.e. about 70% of the country) gets a little pissed off when council taxes double for f*** all return - and when school spending increases without significant improvements in results.

That'll explain why the Tories are so popular in the major cities that they manage to get practically NO COUNCILLORS elected.

"Middle England" isn't about 70% of the country. It's about 70% of the home counties. The Tories are unelectable until they can appeal to the citizens of Manchester, Liverpool, Leeds, Newcastle, Scotland, Wales, Cornwall ...

 

[Superphil]

Inheritance tax was suppoesd to be levied on the wealthy and in the past that was the case. With average house prices now so high, inheritence tax is being levied against far far more estates than it was ever intended for. It should be a tax for the wealthy, not for people who have inherited a 3 bed bungalow in Goring.

 

[tedebear]

simply that everyone has an equal "opportunity" to educate themselves and work to get a good job/life... inheritance tax helps towards that aim in more than one way...

But how? - sorry to bang on about it but your talking in very big generalisations from where I sit...you could be saying taxes in general make an equal opportunty for everyone - but you're saying inheritance tax in particular and I can't see the direct link?

 

[Marshy]

That'll explain why the Tories are so popular in the major cities that they manage to get practically NO COUNCILLORS elected.

"Middle England" isn't about 70% of the country. It's about 70% of the home counties. The Tories are unelectable until they can appeal to the citizens of Manchester, Liverpool, Leeds, Newcastle, Scotland, Wales, Cornwall ...

The tories have never appealed to Manchester, Liverpool and the likes though have they ?....even when they were winning comfortably.

 

[Lokki 7]

So, if they abolish inheritance tax (effectively a tax on the estates of the wealthy, who are dead and don't need it any more),

Inheritance tax applies to estates over £300k. With house prices where they are I think it's very naive to call this a tax on the wealthy. Why should someone who works hard all their life, pays tax on their income, tax on interest from their savings and stamp duty when purchasing their property then be forced to hand a sizeable chunk back to the government rather than their family when they die? How can this be justified when they have already paid their tax obligations during their life?
I will not be voting Tory but this is a very sensible policy.

 

[Marshy]

Agreed Lokki

 

[Gully]

Point taken Lokki, I was just trying to play devils advocate...seems like it worked.

 

[BensGrandad]

If my parents worked hard and madea small fortune for themselves which included buying a very nice house in order to provide for me why after having paid their taxes all of their lives should I have to pay another tax on what they leave me.

Or if I did the same for my children, why should they pay further taxes. Is it nopt every parents aims and wishes to havea good life and provide for their children in some way which is usually in the form of a house. With the escalating prices of houses you do not have to have a mansion to come under the inheritance tax bracket.

 

[sten_super]

The tax system in this country is completely screwed. The people on the lowest income pay the highest rate of marginal tax (as they have to give up benefits, and accrue taxes at the same time) and the people with the most wealth pay the lowest rate of marginal tax (as they have clever accountants familiar with tax avoidance). The whole taxation system needs to be completely rewritten, pretty much from scratch.

 

[Gully]

Fair point sten, but how would you do it...the politicos don't seem to be able to get it right.

 

[Moshe Gariani]

But how? - sorry to bang on about it but your talking in very big generalisations from where I sit...you could be saying taxes in general make an equal opportunty for everyone - but you're saying inheritance tax in particular and I can't see the direct link?

inheritance tax has more impact because as well as raising revenue it reduces the prevalence of individuals receiving hugely different levels of opportunity (and outcome) based merely on their surname (i.e. nothing to do with their own ability and work - just inherited)