Diane Abbott in fine form this morning...

[Mellotron]

No shit. So how would you make it fairer?

You're right. We should just give up and just accept that evil tossers have won.

(Not voting for the party who are obviously going to make the discrepancy WORSE, might be a starting point?!?!?!)

 

[Triggaaar]

You're right. We should just give up.

I asked you a serious question. What would you do to increase tax revenue to pay for everything?

Not voting for the party who are obviously going to make the discrepancy WORSE, might be a starting point?!?!?!

That would make everyone poorer.

 

[ManOfSussex]

You can't tax the rich, Paul Dacre and Rupert Murdoch would never allow it.

 

[MattBackHome]

I reckon that corporation tax could and should contribute more than it's current level of just 6% of total Govt tax receipts. I know the arguments against and don't think they hold water.

There's much less wiggle room in CGT or Inheritance tax I reckon.

 

[Wrong-Direction]

Shock horror another slip up, they can all be caught out whatever party they're from, nowadays it seems like a big game of who can hold off questions with bollocks the longest.

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[Triggaaar]

Shock horror another slip up, they can all be caught out whatever party they're from

No. Regardless of party, no decent politician would give us answers like that. She's in a special group with Natalie Bennett.

 

[Simster]

I reckon that corporation tax could and should contribute more than it's current level of just 6% of total Govt tax receipts. I know the arguments against and don't think they hold water.

There's much less wiggle room in CGT or Inheritance tax I reckon.

Personally, I would massively crank up inheritance tax - it is the one tax that seems genuinely fair to me. What's more, you can make a case that income tax, VAT, corp tax could all negatively impact the economy. I fail to see how cranking up inheritance tax would do that. It would just distribute a dead person's income more effectively.

 

[Wrong-Direction]

No. Regardless of party, no decent politician would give us answers like that. She's in a special group with Natalie Bennett.

Decent politician?

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[Lower West Stander]

Excellent. We just ask them nicely do we? Or shall we say, anyone worth over £2m should give 25% of their wealth to the government?

I thought it was anyone above £70,000.

That's the Labour definition isn't it?

 

[m20gull]

Shock horror another slip up, they can all be caught out whatever party they're from, nowadays it seems like a big game of who can hold off questions with bollocks the longest.

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But this should have been easy. It's a policy launch from her department and she is on every news outlet with the same story. Increase 10,000 officers over 4 years by recruiting 2,500 a year at about £30,000 a year. Long-term cost = £300m, cost in year 1 = £40m, rising to £120m, £180m, £240m (roughly). Total cost over 4 years about £700m. She had all weekend to prepare.

 

[MattBackHome]

Personally, I would massively crank up inheritance tax - it is the one tax that seems genuinely fair to me. What's more, you can make a case that income tax, VAT, corp tax could all negatively impact the economy. I fail to see how cranking up inheritance tax would do that. It would just distribute a dead person's income more effectively.

Yeah I agree - it's just that the actual additional revenue generated wouldn't be as much as a solid change to corporation tax. Though if you asked me about any specific numbers now I would sound a lot like Diane Abbott

I think we get around £5bn a year from inheritance tax? So if you were to add in a higher rate of 50% for upwards of £1m then you might get another billion quid? Not insignificant, of course (and you're right, it would definitely be worth doing) but I reckon you'd get A LOT more out of bumping corporation tax.

 

[Wrong-Direction]

But this should have been easy. It's a policy launch from her department and she is on every news outlet with the same story. Increase 10,000 officers over 4 years by recruiting 2,500 a year at about £30,000 a year. Long-term cost = £300m, cost in year 1 = £40m, rising to £120m, £180m, £240m (roughly). Total cost over 4 years about £700m. She had all weekend to prepare.

Sounds like she should've asked you to fill her boots

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[Hamilton]

Oh god, it's like his interview with Natalie Bennett - I'm concerned that they drug the politicians before the interview.

It's worse than that.

This country is screwed whichever way it votes. Idiots everywhere.

 

[m20gull]

Personally, I would massively crank up inheritance tax - it is the one tax that seems genuinely fair to me. What's more, you can make a case that income tax, VAT, corp tax could all negatively impact the economy. I fail to see how cranking up inheritance tax would do that. It would just distribute a dead person's income more effectively.

I have a problem with this being fair. If your wealth is accumulated from after tax income why should it be taxed again on inheritance (and again when inherited for the next generation)? I can see it might feel like a victimless tax, and it makes sense for CGT to be applied to tax lifetime gains but additional tax seems mercenary to me, a sort of grudge tax on people who have accumulated wealth.

 

[n1 gull]

Personally, I would massively crank up inheritance tax - it is the one tax that seems genuinely fair to me. What's more, you can make a case that income tax, VAT, corp tax could all negatively impact the economy. I fail to see how cranking up inheritance tax would do that. It would just distribute a dead person's income more effectively.

I don't think you can raise it as everyone then just puts their money into trusts. Tony Benn even avoided paying it on his death

 

[surlyseagull]

Sounds like she is being grilled by David Mitchell and Lee Mack on would I lie to you ........it is very worrying though that this woman is in a position of influence ,God help us !!

 

[Simster]

I have a problem with this being fair. If your wealth is accumulated from after tax income why should it be taxed again on inheritance (and again when inherited for the next generation)? I can see it might feel like a victimless tax, and it makes sense for CGT to be applied to tax lifetime gains but additional tax seems mercenary to me, a sort of grudge tax on people who have accumulated wealth.

It's a tax on people who have accumulated wealth, but also those who inherited wealth themselves. I wouldn't call it a grudge tax. I've heard the "taxed twice" argument before, but I don't see how it is any different from money you've paid income tax on, which is then taxed again whenever you buy luxury goods, in the form of VAT. But I appreciate there are plenty who take your side over mine on this issue.

I don't think you can raise it as everyone then just puts their money into trusts. Tony Benn even avoided paying it on his death

Couldn't you just cap the tax-free ceiling on trusts, or put conditions on it in order to make trusts less attractive to those looking to avoid inheritance tax?

 

[LamieRobertson]

One consolation is that she's not shadow chancellor or education her understanding of basic maths is appalling

 

[mickybha]

All joking aside its a joke

 

[Titanic]

Jezza was "not embarrassed in the slightest" by the gaffe, apparently.

http://www.bbc.co.uk/news/election-2017-39775693