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EssKay

Fund Welfare state with 100% inheritance tax

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The solution to our welfare state woes or another way of squeezing the prudent to provide for the feckless?:

 

https://www.theguardian.com/commentisfree/2017/jul/24/utopian-thinking-fund-welfare-state-inheritance-tax

 

Personally, I can't see this working for all sorts of reasons - including the following:

-people with smaller estates would just spend it all before they died

-the really big estates are (or would be) structured as trusts which would be out of scope

 

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How about every man for himself with charity and family to look after the vulnerable. 

Outside of job-seeker's allowance I would scrap the rest, with job seekers being time limited and dependant on contributions. 

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What they really mean is 100% tax on the property in estates, the rest is a rounding error.

Softening people up for new property taxes of one kind or another. If a 2 bed semi was worth £50K this kind of thing would never be on anyones agenda.

Get dementia: we will sell your house to pay for the nursing care

Don't get dementia: we will sell your house anyway because reasons.

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As someone who has benefited (albeit modestly) from inheritance, I'd be in favour of much, much higher IHT - maybe even 100%. But ALL of it would go back into healthcare and education - proper university subjects and apprenticeships. Welfare should be a safety net, not a choice and there would be no more excuses after a genuine first-class education for all backed up by a properly funded health service.

Alas humans are generally shitbags and cannot bring themselves to see the bigger picture.

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6 minutes ago, Democorruptcy said:

The "Welfare State" should be renamed.

When my father was paralysed from the waist down he had an Invacar (light blue with a sliding door).

No wonder there's so many Nissan Jukes and Fiat 500s about, less than the allowance?

https://news.motability.co.uk/scheme-news/latest-prices-for-motability-scheme-customers-july-2017/


 

If you can get in a Fiat 500 then there is every chance that you are not really disabled.
 

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22 minutes ago, Calcutta said:

Keep stealing more and more of British people's money to pay for immigrants we don't want then eventually we end up with tanks on the streets.

Then the question arises whether it's the immigrants running things or the British people or some other group.

Edited by billybong

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10 minutes ago, billybong said:

Then the question arises whether it's the immigrants running things or the British people or some other group.

Very true, in reality our money is being stolen by the people flying over us in private jets not the lady in the headscarf or the polish guy stuck in the s**t with us. Mass immigration, like zero interest rates, is just a weapon used to beat us back into the workhouses.

Unfortunately, if anyone was strong and vocal enough to put a stop to it, there's a high probability it's going to be a fruitcake.

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I've never understood why people have a problem with this? Makes a bit of a mockery of the self interest argument when loads of folk who don't have that much money are bothered about dead rich folk getting taxed. Madness!

Fundamentally it seems to be because of the mythology around tax and what it does (destroy money) and doesn't (pay for things) do. All this would do is redistribute wealth more evenly and that's a huge positive for nearly all business, well outside of the financialisation con artists.

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4 minutes ago, malk said:

I've never understood why people have a problem with this?

Is this rhetoric, or do you actually care about understanding?

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9 minutes ago, malk said:

I've never understood why people have a problem with this? Makes a bit of a mockery of the self interest argument when loads of folk who don't have that much money are bothered about dead rich folk getting taxed. Madness!

Fundamentally it seems to be because of the mythology around tax and what it does (destroy money) and doesn't (pay for things) do. All this would do is redistribute wealth more evenly and that's a huge positive for nearly all business, well outside of the financialisation con artists.

So do you think the state does a good job of distributing the money it currently receives? 

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1 hour ago, Calcutta said:

Very true, in reality our money is being stolen by the people flying over us in private jets not the lady in the headscarf or the polish guy stuck in the s**t with us. Mass immigration, like zero interest rates, is just a weapon used to beat us back into the workhouses.

Unfortunately, if anyone was strong and vocal enough to put a stop to it, there's a high probability it's going to be a fruitcake.

98 per  cent of voters backed it on 8 June. So they can hardly complain about it when they vote for parties that implement it.

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You can only tax inheritance once, as the next generation will obviously not have anything  taxable at the point of death. I'd absolutely spend it all if my children can't have a share of it.

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It would never work anyway. People would just buy gold and bury it in the ground. Or keep all money in cash. Or buy precious stones etc etc etc. There are any number of ways available.

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3 hours ago, EssKay said:

-the really big estates are (or would be) structured as trusts which would be out of scope

Isn't that just another loophole which could be closed if the political will existed?

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3 hours ago, doomed said:

How about every man for himself with charity and family to look after the vulnerable. 

Outside of job-seeker's allowance I would scrap the rest, with job seekers being time limited and dependant on contributions. 

with a global perspective that is the norm...

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58 minutes ago, ThoughtCriminal said:

Inheritance tax is an obscenity. The ability to pass on ones property and wealth is a fundamental liberty.

Rubbish. A handout is a handout; regardless of where it comes from - the state or from mum & dad.

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1 hour ago, Errol said:

It would never work anyway. People would just buy gold and bury it in the ground. Or keep all money in cash. Or buy precious stones etc etc etc. There are any number of ways available.

Didn't in sort of work in Britain in the twentieth century, when a lot of a rich families sold their country estates after the introduction of high inheritance taxes?

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