Sunday, Aug 20, 2006

What the Lord giveth, the government taketh away

Telegraph: Byers calls on Labour to scrap inheritance tax

Stephen Byers, the former transport secretary and a leading Blairite "outrider", claims that the tax, which brought in a total of 3.3 billion last year, is "a penalty on hard work, thrift and enterprise".

Posted by uncle chris @ 11:51 AM (512 views)
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1. Bear said...

How is it a reward for their "hard work and enterprise"? The recipient of inheritance has done nothing to receive it. The tax should stay, in fact, it should go up.

Sunday, August 20, 2006 12:04PM Report Comment

2. Ticktock said...

...which is better than the alternative of - 'what Labour hath created, the middle class may take away - and get to keep forever -to pass on to to their lazy off-spring who need contribute nothing to society for the rest of their idle days '

What utter crap. There is a very good reason why inherritance tax exists ('death tax' is a neo-con term. Invoked as statisticly, people were proven to be more hostile to the policy once couched in these terms) It rebalances generations, and prevents (in theory at least) the perpetuation of a lazy land owning elite forever monopolising the resources of a Nation whilst contributing very little to it.

There is no surer path to social destruction than the abbollison of inherritance tax. However, this policy has also historicaly ultimately brought rebbellion against 'rich rule' and so perhaps should be welcomed in this context. I cant think of any other reason why a Labour politician would support such an extreeme right wing policy? Would somebody ask that little shit Buyers what exactly drew him to the Labour cause in the first place (other than Yankee $s of course)
Traitors always get what is coming to them in the end Steve.

Sunday, August 20, 2006 12:58PM Report Comment

3. Dude said...

But Inheritance Tax is good -- it is one way of redistributing the wealth amassed by individuals and bring it back into the public fold. All governments since the disasterous Thatcher governments of the 80s have been weak on Income Tax, which is (inter alia) one of the fairest ways to tax the nation, and used indirect taxation as the means to surreptitously tax the many.

If we remove Inheritance Tax and and then house prices fall, what then? Do we reintroduce it?

No, the current taxation scheme is far from ideal, but to abolish Inheritance Tax would be a move in the wrong direction.

Sunday, August 20, 2006 01:54PM Report Comment

4. paul said...

Whingey little ex-transport secretary worries that he'll have to pay his ex-employer lots of money.

Tuff titty.

Sunday, August 20, 2006 02:46PM Report Comment

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