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GAL BEAR

Protest Against Inheritance Tax , Why Not A Protest

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I don't know how you all feel but I am sick to death of reading about the Daily Express 'petition' against the

government to get inheritance tax abolished.

I do sympathise to a certain extent with people on this issue and the the thought of Crash Gordon getting his hands on peoples homes in this way does make me a bit cross, but I am still amazed that this country (and the media) can kick off about this to such an extent yet no-one seems to give a damn about first time buyers being priced out of at least 98 % of the country!

I have to say that if I was every lucky enough to 'inherit' a house worth over £275,000 I would not be too peeved at giving the treasury 40% of anything over that sum. I would just be bloody grateful that I had inherited a house worth that kind of money !! After all, worst possible scenario - sell the damn place and get a smaller house! Its not rocket science!

What amazes me it that none of these home owners would dream of reducing their properties to reasonable selling prices and yet kick off when the treasurey wants to take some of the excess 'froth'.

They had an item on JUDY & RICHARD about it yesterday. They had 1 journalist and a Laywer on there discussing it and RICHARD and the journalist got really angry about it. The week before they had an item with Kirsty & Phil and High House prices barely got a mention, infact it was discussed in a 'jokey' light relief sort of way, as if to say "this is not a big problem".

When is someone going to get a 'petition' up for first time buyers and young familys who cannot either buy even a pokey one bedroom flat or move up the ladder so their kids don't have to share a bedroom with their

parents?!

I know some of you won't agree with my views but just thought it needed saying. :angry:

Edited by GAL BEAR

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The single most effective way to register a protest against HPI is to NOT BUY ANYTHING!

FTBs and STRs--stay renting, living with parents whatever you have to do. Kill the market by starving it from below. It will eventually keel over, stone cold dead.

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GAL BEAR though your intentions are honorouble the theiving fat tw@t Brown who is content stealing a living of the very people he represents would simply throw the gains from IT into some latest folly which does not represent the majority of hard working civil people in this country.....so I amfor the DailyExpress campaign.

That said there are no initiatives apart for some ludicrous half baked ill thought out schemes that benefit people to own their own home (I call then *ankers benefits you can add a b or a w its all thesame), but then why really bother? Simply get laid (errr not you personally) have a child and claim of the state its a free handout after all.

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Guest Winners and Losers

You go Gal Bear. Realist bear is right. Fools rush in where wise men wait. I don't understand why FTB'rs arent protesting, instead they are killing themselves to save a deposit and get into debt up to their eyeballs. Ah, I know why, because prices NEVER go down. You can blame the VI's, but there are some sensible FTB's who do their research, part of which is visiting this site. The rest only have themselves to blame for being so blinkered.

The single most effective way to register a protest against HPI is to NOT BUY ANYTHING!

FTBs and STRs--stay renting, living with parents whatever you have to do. Kill the market by starving it from below. It will eventually keel over, stone cold dead.

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Inheritance Tax.

How unfair is it. Some people, fortunate to be born to parents with money, 1st get help with thier education costs. Then they get a bung from them for a deposit, because they can afford it. Apparentley 50% of FTB's now get it. Then the parents die and they get another big cash injection. Now they want even more of an advantage in this society that is supposed to be a level playing field. And they all read the Daily Express it seems.

Inheritance used to be the preserve off the rich. Now everyone wants it, free money. When they get it they strutt round telling those that didn't that they worked for it and built the empire up.

I tell you what. Thats have a fair society, abolish inheritance altogether. Everyone can then buy what they've worked for. This really is a master and slave situation as in the past, then one master economically enslaved 100,000 subjects. Now half the populace are at it, on a one on one basis.

Someone E-mail the Daily Express with this, I can't be bothered.

Edited by deano

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GAL BEAR though your intentions are honorouble the theiving fat tw@t Brown who is content stealing a living of the very people he represents would simply throw the gains from IT into some latest folly which does not represent the majority of hard working civil people in this country.....so I amfor the DailyExpress campaign.

That said there are no initiatives apart for some ludicrous half baked ill thought out schemes that benefit people to own their own home (I call then *ankers benefits you can add a b or a w its all thesame), but then why really bother? Simply get laid (errr not you personally) have a child and claim of the state its a free handout after all.

Yes, although I don't agree with young women getting pregnant just to get a home, to a certain extent

I can see why they do it, what hope is there for them ?

Inheritance Tax.

How unfair is it. Some people, fortunate to be born to parents with money, 1st get help with thier education costs. Then they get a bung from them for a deposit, because they can afford it. Apparentley 50% of FTB's now get it. Then the parents die and they get another big cash injection. Now they want even more of an advantage in this society that is supposed to be a level playing field. And they all read the Daily Express it seems.

Inheritance used to be the preserve off the rich. Now everyone wants it, free money. When they get it they strutt round telling those that didn't that they worked for it and built the empire up.

I tell you what. Thats have a fair society, abolish inheritance altogether. Everyone can then buy what they've worked for. This really is a master and slave situation as in the past, then one master economically enslaved 100,000 subjects. Now half the populace are at it, on a one on one basis.

Someone E-mail the Daily Express with this, I can't be bothered.

WELL SAID !!!

I was trying to choose my words carefully, but you have told it like it is !!!

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Inheritance Tax.

How unfair is it. Some people, fortunate to be born to parents with money, 1st get help with thier education costs. Then they get a bung from them for a deposit, because they can afford it. Apparentley 50% of FTB's now get it. Then the parents die and they get another big cash injection. Now they want even more of an advantage in this society that is supposed to be a level playing field. And they all read the Daily Express it seems.

Inheritance used to be the preserve off the rich. Now everyone wants it, free money. When they get it they strutt round telling those that didn't that they worked for it and built the empire up.

I tell you what. Thats have a fair society, abolish inheritance altogether. Everyone can then buy what they've worked for. This really is a master and slave situation as in the past, then one master economically enslaved 100,000 subjects. Now half the populace are at it, on a one on one basis.

Someone E-mail the Daily Express with this, I can't be bothered.

Agree 100%. Inheritance tax is the fairest tax ever invented.

frugalista

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:) I must admit I'm pleased (and a pleasantly surprised) that most of you seem to agree with me on this one.

One way or another people should pay the price for house price inflation, they can't have it both ways!

There was a letter in the Daily Express from some guy who was moaning that when he and his wife die their daughter who is a care worker on £12 grand a year salary will be 'forced ' to sell their 700 grand home in Chelsea !!!! I could not believe it!

I can't see the daughter being too bothered she will probably give up her job, sell the house and live off the interest on what is left of her 700 grand inheritence.

Sorry no sympathy here ! Thats' life - get over it !!!

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Taking the jealousy and sour grapes out of the argument for one second...

Inheritance Tax = a tax = statutory tariff imposed by government

House price = market clearing price which matches buyers with sellers

Railing against house prices is like railing against the GBP / USD exchange rate... the government can influence it, but its the market that moves the price. We're harking back again to Lamont's attempt to beat the traders in 92 using the few levers at this disposal and when he lost us a lot of money.... and there's a lot more money in funds' pockets now then there was then. The funny thing with this board is the schizophrenic opinion of some individuals regarding whether they want the government to get involved in issues that are none of their business.

Alternatively, the government to control the supply of houses and we could all live in a council house. Or, we could have uncontrolled development and have no countryside left and high density housing all through the towns. Or we could "send them all back", whoever "they" are.

Or, we could wait for enough people to get so sick of paying over the odds for housing or to find themselves unable to service their mortgages due to some significant macroeconomic shift that the price corrects... which is probably the only way the correction will occur.

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:) I must admit I'm pleased (and a pleasantly surprised) that most of you seem to agree with me on this one.

One way or another people should pay the price for house price inflation, they can't have it both ways!

There was a letter in the Daily Express from some guy who was moaning that when he and his wife die their daughter who is a care worker on £12 grand a year salary will be 'forced ' to sell their 700 grand home in Chelsea !!!! I could not believe it!

I can't see the daughter being too bothered she will probably give up her job, sell the house and live off the interest on what is left of her 700 grand inheritence.

Sorry no sympathy here ! Thats' life - get over it !!!

No I disagree with you completly you are fooling yourself if you think giving money to a bunch of half witted monkeys governing the country is correct. If inheritance tax went to something positive and one could see the benefits....ie helping homeless, providing the less fortunate with a better education (I could rant on)...etc etc then yes.....but you know as well as I it would not.

On the balance of decisions the current imbociles in power make then its completly unfair. This goverment wastes and spends like no other IT simply funds another crazy waste its better left with the people of the country if they get a windfall good luck to them why should no one benefit from this I would rather a few do than the political ******** machine ?

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I'm for a protest. Sometimes people here seem to think the current problems appeared out of nowhere one day, suggesting it's all part of the Free Market fairy's 'cycle'.

That's true enough, but the brutally of the current malaise was made worse by massive policy failures under this and the previous government.

1. Allowing the 'buy-to-let' mortage.

2. Selling off the nation's social homes and replacing them with zilch.

3. Deregulation of the credit market and failure to re-regulate it, which has allowed the bank to create vast loans given to anyone with a pulse eroding the real-terms value of our money.

4. Total blind eye turned to massive evidence of mortgage fraud.

5. Failure to get tough with landlord tax dodgers and allowing landlords to deduct mortgage interest from tax bills.

6. Failure to disincentivise second homes.

7. Failure to introduce rent caps or more tennant friendly legislation, which has allow landlords to hold all the cards and force FTBs to chase the market to dizzy height to free themselves from the indignity of the AST.

Etc. etc.

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Inheritance Tax.

How unfair is it. Some people, fortunate to be born to parents with money, 1st get help with thier education costs. Then they get a bung from them for a deposit, because they can afford it. Apparentley 50% of FTB's now get it. Then the parents die and they get another big cash injection. Now they want even more of an advantage in this society that is supposed to be a level playing field. And they all read the Daily Express it seems.

Inheritance used to be the preserve off the rich. Now everyone wants it, free money. When they get it they strutt round telling those that didn't that they worked for it and built the empire up.

I tell you what. Thats have a fair society, abolish inheritance altogether. Everyone can then buy what they've worked for. This really is a master and slave situation as in the past, then one master economically enslaved 100,000 subjects. Now half the populace are at it, on a one on one basis.

Someone E-mail the Daily Express with this, I can't be bothered.

For me, the issue with IHT is simple, but ALWAYS gets mixed up with the argument about levels of taxation and government spending. If the whole nation could agree on an appropriate level of taxation and THEN answer this question: Would you prefer to pay it out of what's left when you've passed away, or would you rather pay it while you're alive?

I know which I'd prefer.

I'm for a protest. Sometimes people here seem to think the current problems appeared out of nowhere one day, suggesting it's all part of the Free Market fairy's 'cycle'.

That's true enough, but the brutally of the current malaise was made worse by massive policy failures under this and the previous government.

1. Allowing the 'buy-to-let' mortage.

2. Selling off the nation's social homes and replacing them with zilch.

3. Deregulation of the credit market and failure to re-regulate it, which has allowed the bank to create vast loans given to anyone with a pulse eroding the real-terms value of our money.

4. Total blind eye turned to massive evidence of mortgage fraud.

5. Failure to get tough with landlord tax dodgers and allowing landlords to deduct mortgage interest from tax bills.

6. Failure to disincentivise second homes.

7. Failure to introduce rent caps or more tennant friendly legislation, which has allow landlords to hold all the cards and force FTBs to chase the market to dizzy height to free themselves from the indignity of the AST.

Etc. etc.

I'm with you on points 2 to 5, but not the others, which, in my strong opinion, are regulated by market fiorces and need no regulation.

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well it would be a lot simpler for a flat rate with a zero threshold to be applied.no arguments or dodgy accounting to deal with then....same with income tax.

and to be really brutal I do agree with the US system of health insurance.....it's an incentive to work.

the problem we have is too many spongers,it's that simple.

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I don't know how you all feel but I am sick to death of reading about the Daily Express 'petition' against the

government to get inheritance tax abolished.

I had a look at it today. If that's the kind of nonsense the low brows are reading then it's hardly surprising there is a house price bubble. Every second article seemed to be about how such and such made so and so on suchaslike house. A cull of tabloid readers is the only real answer. Pip pip.

Edited by jellybean

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I don't understand why FTB'rs arent protesting,

Because houses are the sacred cow.

and to be really brutal I do agree with the US system of health insurance.....it's an incentive to work.

the problem we have is too many spongers,it's that simple.

The problem with the Health Service here is that it was set up after World War II, when this country was DEVASTATED. The need was never really revised. I've always felt some degree of perspective is required on the welfare state, but it too has become a highly charged steaming hot potato, wobbling around next to that of the housing market, in New Labour's microwave oven.

Edited by megaflop

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This is a great idea. It should be timed to be going up the same street the inheritance tax protest toffs is going down then we meet in the middle and have a brawl (beating them with the sticks that our banners are stuck on), and the cops come with riot gear and some of us end up with blood running down our heads, and we all get carried away bodily into a paddy wagon. Make great news. B) I reckon the BBC would run the news story directly in front of "Location, Location, Location". :(

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Taking the jealousy and sour grapes out of the argument for one second...

Inheritance Tax = a tax = statutory tariff imposed by government

House price = market clearing price which matches buyers with sellers

Railing against house prices is like railing against the GBP / USD exchange rate... the government can influence it, but its the market that moves the price.

Yes and no. The market matches sellers and buyers yes. But when people are allowed to borrow eye-watering amounts in order to outbid each other then you get a speculative boom, prices rocket on the back of debt and everyone loses except the banks.

Mortgages are more regulated in other countries (and were also more regulated in days of yore in Merrie Englande) and they have less HPI.

It is not up to the government to set house prices, but it is up to them to set the level of mortgage regulation to prevent speculation.

Labour should have brought back mortgage controls in 1997 when they promised "no more boom and bust".

frugalista

No I disagree with you completly you are fooling yourself if you think giving money to a bunch of half witted monkeys governing the country is correct. If inheritance tax went to something positive and one could see the benefits....ie helping homeless, providing the less fortunate with a better education (I could rant on)...etc etc then yes.....but you know as well as I it would not.

You could leave 275k of your estate to your offspring tax free and then bequest the rest to a charity and avoid all inheritance tax.

frugalista

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well it would be a lot simpler for a flat rate with a zero threshold to be applied.no arguments or dodgy accounting to deal with then....same with income tax.

Yes, it would be simpler. That's about all that could be said in favour of it.

and to be really brutal I do agree with the US system of health insurance.....it's an incentive to work.

the problem we have is too many spongers,it's that simple.

Have you had any experience of the US health system? It is a joke, even if you have good insurance as I do. Health costs are about 3 times those of Europe, about ten times as bureacratic and the care is no better. Every industrialized country on earth except the US seems to have universal healthcare of one kind or another.

I haven't even mentioned the tens of millions with no insurance (even though many have jobs) or the thousands who go bankrupt trying to pay for care, then die anyway.

And, taxes aren't even lower, unless you are mortgaged up to the eyeballs and you are married with 4 kids. Why aren't taxes lower? Coz it all goes on the military, stupid!

I'd rather have the NHS any day.

frugalista

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I haven't even mentioned the tens of millions with no insurance (even though many have jobs) or the thousands who go bankrupt trying to pay for care, then die anyway.

You want brutal Oracle. I'll give you brutal. I think those who can't afford to pay for health insurance should just die. And so should their kids. Thats Darwinian selection. Law of the markets. Law of natural selection of the fittest to survive within the environment. And if their work doesn't care to pay for them that suggests that they are unfit to be maintained under conditions of illness. Very similiar to a cow really. A cow with big muscles gets to live and breed. A bit like a scrawny cow doesn't justify the cost of the vet. Well it happens every day in the 3rd world so why not the rest?

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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