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Pre-Budget Report
Former Member
Posts: 1,876,323 The Mix Honorary Guru
So, the goverment made the worse off in the country poorer this year with essentially increasing their taxes.
Now, they increased fuel duty.
BUT they are increasing the inhertiance tax threshold??
For fucks sake!!!!!!!! Enjoy it middle england, grrrrrrrr :rolleyes:
Now, they increased fuel duty.
BUT they are increasing the inhertiance tax threshold??
For fucks sake!!!!!!!! Enjoy it middle england, grrrrrrrr :rolleyes:
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Comments
I'm not sure you can get pissy with Middle England, they get plenty fucked elsewhere.
Inheritance tax should be increased in line with the ridiculous rise in property prises. I think that's a sensible move.
Should it be set at £1 above what you are likely to inherit?
:yes:
Which is why the Tories thought it up, and why Labour nicked it. Watching the Chancellor's announcement on T.V., you can actually see Brown nodding his head as he struggles (and fails) to hold back a wily smirk while rubbing his grubby hands together.
I could smell Labour's desperation... the inheritiance tax seemed to have a smack of panic, and I think they've also taken the domicile tax as well (despite rubbishing it only days before)
I think non-domiciles should be taxed more- 18% is still lower than the basic rate of income tax- and the 10% tax rate should be returned and extended.
But all the people who'd earn enough to notice the 10% tax rate will vote Labour anyway, cause they're as thick as shit, so of course Penfold's gonna go after middle england.
Don't do anything and you alienate voters by not picking up on what is clearly a good idea.
Do something and you stand accused of stealing someone else's "clothing".
What GB has proved here is that it's better to be in Govt than on the opposition benches because you can act on ideas whereas opposition can only pontificate.
If opposition then refuse to put forward policy ideas they stand accused of not having any, or worse in putting their election and power seeking ahead of the best interests of the country.
Shrewed.
if it followed property inflation it'd be a £430k limit not 600k(700k in 2 years)
why should it follow house price inflation anyway, most of that is due to speculation anyway
why?
Why? it's perfectly possible to believe in an inheritance tax and think that the current threshold is too low.
I'm not trying to sound condensending as I know some of you will know, but does everyone realise that you only get taxed on the amount OVER the threshold?
I.e. previously, the first 300K is tax-free and after that amount you pay tax, ??
Surely 300K tax free is enough for anyone? :rolleyes:
e.g. My employer gets paid x amount from someone and pays their tax, they give me my portion and I pay my tax, if I had an employee, I'd pay them and they'd pay their tax.
Why would this be any different?
Mr X earns money, pays his tax, buys house with whats left. He dies, house is sold, Son Y gets 400K, gets taxed....... ?
You're right- it shouldn't go up at all.
It's another tax cut sop to the whingeing middle classes that everyone else is going to have to cough up for.
But those who bought their houses before the boom aren't necessarily the rich who should be paying out.
And the people who bought houses after the boom are in fact loaded, and not crippled with debt... :rolleyes:
what about the huge capital gains they've made, they've made money without lifting a finger since they've owned the house
and to anyone who says it's a double tax, it is, but so is VAT and all goods' duties like petrol and cigarettes
and it's a fair tax as well, it only gets unearned income
Why not just tax all of it then? Why set an arbitrary limit?
That is frankly a good question, I'm not really sure I have the answer, I suppose I can see both sides and I would not only like to receive a legacy but also pass one down.
Why not tax all of it? Well it's not fair to tax everything from someone when they die.
Why set an arbritrary limit? Well it's an amount that will only usually catch those with a lot of money.
To be honest, I've changed my mind, and I'd leave the limit where it is.
Agree with all Kermits answers here..
p.s. we still arguing about inheritance tax? nothing changes round here eh...
under a labour government the poor have become poorer the rich richer and now the tories are talking about taxing the rich ...err ...isn't that socialism?
And the people in the middle are still fucked anyway. I earn a decent wage and a third of it at least is gone before it gets to the bank. Robbing bastards.