Same old Tories...

[Dick Knights Mumm]

How is his take the money from the wealthy to help the poor not a socialist ideal?

This is the society we chose to live in - where a safety net is provided for those for whatever reason are unable to provide properly for themselves and for fairness, their children.

People who have the most - should pay the most. Most people appreciate there but for the grace of God go I.

 

[Titanic]

The tories will not win the next election. Fact.

They will, when they play the European Constitution Referendum card.

 

[London Calling]

How is his take the money from the wealthy to help the poor not a socialist ideal?

 

[Herr Tubthumper]

They always end up playing some sort of european card...and it hasnt got them very far in the past.

 

[Barrel of Fun]

If you are going to "address the wealth gap" surely it should be from the perspective of making the poor better off, and not the rich poorer?

I wasn't agreeing with myself completely. Just stating that there are flaws in the tax if people believe that it addresses the wealth gap, as someone mentioned before, but can't find it (possibly imagining it).

Having said that, it did work for Robin Hood!

 

[Moshe Gariani]

They will, when they play the European Constitution Referendum card.

so if greedy tax cuts are a busted flush then there's always good old xenophobia to fall back on....

 

[tedebear]

This is the society we chose to live in - where a safety net is provided for those for whatever reason are unable to provide properly for themselves and for fairness, their children.

People who have the most - should pay the most. Most people appreciate there but for the grace of God go I.

Completely agree DKM but I don't like paying tax on something thats already been taxed, nor do I like paying tax on something as I'm considered more "wealthy" than someone else. I work bloody hard for what I have, as have my parents - why does this mean I have more of a debt to society? I certainly agree to paying taxes to help those who cannot help themselves, but I can't see how I can be expected to pay extra as I've worked hard?

 

[London Calling]

Even at £350,000 Inheritance Tax in my opionion is too low, but the Government needs to balance the books and I am all in favour of wealth distribution. However, the Government owns research has clearlydosplayed that the landowning wealth, and I do mean the Landowning wealthy, do remarkedly well in avoiding this particular tax.

Personally, I am all in favour of three simple taxes, a national income tax and a local income tax. And a tax on businesses.

These taxes will need to be increased to compensate for the reduction of all the other taxes. The people who can pay will pay, and the low earners, old, young will pay a minimum or no tax.

 

[Moshe Gariani]

Even at £350,000 Inheritance Tax in my opionion is too low

http://news.bbc.co.uk/1/hi/uk_politics/7021357.stm vote Conservative

 

[Herr Tubthumper]

It is a wasted arguement. The tories are outdated and out of touch, and they will loose the next election.

 

[Superphil]

For me, a simple taxation system would be a standard rate of VAT, say, 25%, on everything, with no option for business to claim any of it back.

Then scrap all other forms of personal taxation. Individuals who are deserving of a rebate due to personal circumstances can then claim through a simplified rebate system.

That way, everyone pays, and if you are working cash in hand it doesn't matter, when you buy goods of any sort, you pay tax, in full. If you are an illegal immigrant working unregisterd, then you will still pay tax when you spend your earnings.

I know it sounds odd to want more VAT, and also sounds too simple, but I think it would solve a lot more problems than it creates. It would also ensure that everyone pays, even those who currently avoid paying tax through living abroad, stashing their cash offshore etc.

That's what I think anyway.

 

[Barrel of Fun]

That would destroy our tourist industry, wouldn't it?

 

[London Calling]

For me, a simple taxation system would be a standard rate of VAT, say, 25%, on everything, with no option for business to claim any of it back.

Then scrap all other forms of personal taxation. Individuals who are deserving of a rebate due to personal circumstances can then claim through a simplified rebate system.

That way, everyone pays, and if you are working cash in hand it doesn't matter, when you buy goods of any sort, you pay tax, in full. If you are an illegal immigrant working unregisterd, then you will still pay tax when you spend your earnings.

I know it sounds odd to want more VAT, and also sounds too simple, but I think it would solve a lot more problems than it creates. It would also ensure that everyone pays, even those who currently avoid paying tax through living abroad, stashing their cash offshore etc.




That's what I think anyway.

We've suggested two simple solutions, which will remove hordes of "tax collecting bureaucrats".

I actually think the tories plan to remove inheritance tax below £1m and basic levels stamp duty are POLITICALLY a good idea. Interestingly the Stamp Duty reduction, will probably benefit people in the midlands and north.

Actually, I think its a bit of a gimmick. You buy a house for £149,000, you pay all the usual land charges etc, you can add all these charges to your mortgage but you still need that extra two grand. I don't think so.

 

[Superphil]

Tourist clam VAT back on high value items don't they? As for the other items, so what, VAT is high elsewhere in the world. Tourists already go to London/Edinburgh etc and pay extortionate rates for food, drinks, shows etc.

 

[London Calling]

That would destroy our tourist industry, wouldn't it?

Whilst I don't agree with Super phil. Not necessarily. Oher EC countries, US and Canada etc have higher "sales" tax, plus tourist tax, plus other local taxes. Often hitting the 25% mark.

If you want to go somewhere on your hols, do you really care what level of VAT you're paying?

"I only having nine pints tonight lads....I can't afford the tax to pay for the tenth"

"Aye I don't think I can afford bhaji's with my curry tonight"

 

[Lord Bracknell]

Can't people work out a simple FACT?

If money that is creamed off by the government as inheritance tax is left instead to members of the family, to help younger people on the housing ladder, all that will happen is that house prices will rise even faster and make housing even more unaffordable for those WITHOUT an inheritance to use.

It's called "market forces".

 

[London Calling]

Can't people work out a simple FACT?

If money that is creamed off by the government as inheritance tax is left instead to members of the family, to help younger people on the housing ladder, all that will happen is that house prices will rise even faster and make housing even more unaffordable for those WITHOUT an inheritance to use.

It's called "market forces".

Nevertheless the present level of £250,000 can in no way be describded as a wealth tax.

To solve the housing crisis, we need to lower house prices and the only way to do that is build houses at a greater level than the self-serving interest of the private developers are presently prepared to build.

 

[Superphil]

Whilst I don't agree with Super phil. Not necessarily. Oher EC countries, US and Canada etc have higher "sales" tax, plus tourist tax, plus other local taxes. Often hitting the 25% mark.

If you want to go somewhere on your hols, do you really care what level of VAT you're paying?

"I only having nine pints tonight lads....I can't afford the tax to pay for the tenth"

"Aye I don't think I can afford bhaji's with my curry tonight"

Well I do agree with you! Tourists would still come. What we need is a fair way of taxation, where everyone pays the ammount they deserve to. There are too many instances of tax evasion, my suggestion prevents evasion.

We are told constantly that tax evasion, unregistered workers, untaxed cars, people with multiple identities claiming tax credits, are costing the country billions (that's BILLIONS) of pounds a year. The system I suggest would prevent that from ever happening. Then the tax bureaucrats can concentrate on ensuring those in need are cared for as there will be very few incidents of tax evasion.

 

[Lord Bracknell]

A question to tedebear, about her parents ...

You say they have paid tax on every penny they've earned. I believe you.

But have they paid tax on any element of the increased value in the house they live in?

Inheritance tax is simply a way of ensuring some minimal pay back to the community for the windfall profits that come along when a house is paid for and no longer required by the occupants. The fact is that there is a massive threshold to be reached before ANY of this tax has to be paid.

 

[Tooting Gull]

Can't people work out a simple FACT?

If money that is creamed off by the government as inheritance tax is left instead to members of the family, to help younger people on the housing ladder, all that will happen is that house prices will rise even faster and make housing even more unaffordable for those WITHOUT an inheritance to use.

It's called "market forces".

That surely isn't a good enough reason to hand it over. It is an iniquitous tax, since tax has already been paid on the earnings that led to it once already.

I'm all for a progressive taxation system. People who earn over £50k and £100k (or whatever numbers you pick) should pay a higher percentage of the top end of their earnings. I think a similar principle should apply to inheritance tax, too, but there must be some recognition of the fact that these days you really don't have to be that well off in the south east, or in any way rolling in dosh, to have a house that's worth £300k.

I also agree with something said earlier, that a lot of this is just the government making the numbers work rather than doing what is fair. If they had the guts to go close some loopholes for the super-rich, there would be more flexibility in other areas. Fat chance.