Why aren't people just honest about their self-servience regarding inheritence tax?

Usually whenever someone moans about inheritence tax it's under the guise of how it's unfair to "pay tax twice", even though you're already taxed twice via income tax then VAT, yet no one bitches about this... not that being "taxed twice" is even a valid argument anyway, money is taxed multiple times as it works it's way through the economy. Another one is how it's robbery from the dead. I mean that second one is just laughable really... they are dead, it doesn't ****ing matter anymore and really it's the living recipients who are being taxed on income they haven't worked for.

You'd think that the general public, who claim to want a fairer society, would support a policy that taxes large amounts of unearned income of the recipients at what should be at a higher rate than income tax, which was money that was actually worked for.

The truth is, it comes down to the very self-servience that people bitch and moan about politicians for. People want their children to gain large amounts of money unearned by these children, or people want to receive large amounts of money unearned by them from their parents.

Before any losers with nothing interesting to say post to tell me I'm just jealous:

1. Being jealous wouldn't invalidate my points.
2. I stand to inherit this unearned money in the future, so no, not really.

Your thoughts?

(edited 9 years ago)

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Reply 1

TheGuyReturns

Original post by arson_fire

Maybe people just don`t like the idea of the government helping itself to 40% of their life savings and giving it to the lazy and the feckless.

1. The idea that all of these money sucking scroungers are taking all of your money is inaccurate:
http://www.dorseteye.com/north/articles/uk-unemployment-benefit-less-generous-than-romania-albania-and-the-us
http://www.theguardian.com/news/datablog/2013/jan/08/uk-benefit-welfare-spending

2. Even if it were true, what makes your children gaining this wealth unearned by them any better than some "scroungers" getting it?

Reply 2

McMicheal

I think it's ****ing ridiculous & greedy.

Reply 3

TheGuyReturns

Original post by McMicheal

I think it's ****ing ridiculous & greedy.

That makes zero sense on it's own. Who are greedy, the people against IHT? Could you elaborate?

Reply 4

SarcasticMel

What? Inheritance tax is bs. If you are any clever you will transfer assets to your kids way before anyway. And it really just hurts family businesses...

Reply 5

TheGuyReturns

Original post by SarcasticMel

What? Inheritance tax is bs. If you are any clever you will transfer assets to your kids way before anyway. And it really just hurts family businesses...

*sigh* Is no one going to address my original question, you know, the title of this thread? Are you even going to explain why IHT is "bs"?

Reply 6

TheGuyReturns

No more replies without proper reasoning please!

Reply 7

nohomo

Original post by TheGuyReturns

No more replies without proper reasoning please!

I call it winheritance because i stand to inherit so much for doing nothing. Umad?

My parents are crafty and care about me so the money will be MINE

Reply 8

scrotgrot

Original post by arson_fire

Maybe people just don`t like the idea of the government helping itself to 40% of their life savings and giving it to the lazy and the feckless.

To me "the lazy and the feckless" means the children of the rich, not the criminally underpaid working class and benefit recipients.

Sure, I do hate those who by their own hand become liable for inheritance tax: the capitalists, the well-paid people who act as their mercenaries, and smug middle-class home-owners, whose profits and salaries are derived at however many removes from other people's undersold labour.

But at least these vultures have demonstrated a modicum of intelligence and risk-taking, self-interested though it may be, to get to that point. Their children? Not so.

Full disclosure: I come from a middle-middle-class family who will be very much liable for inheritance tax.

(edited 9 years ago)

Reply 9

McMicheal

Original post by TheGuyReturns

That makes zero sense on it's own. Who are greedy, the people against IHT? Could you elaborate?

The ones that make you pay such taxes.

I understand, that if you leave capitalism unchecked then ones who made money, businesses will keep making money and so will their children & grandchildren, yet taxing their offspring after they're dead, what 40%? is absurd.

Why not go full commie then and allocate who lives where, what they work, eat, drive, watch and if they have too much split it up between everyone.

It's like if you got a cake as a gift, bob the tax man comes along uninvited and takes almost ****ing half of it.

Reply 10

TheGuyReturns

Original post by nohomo

I call it winheritance because i stand to inherit so much for doing nothing. Umad?

My parents are crafty and care about me so the money will be MINE

You're either a troll, just really a refreshingly honest person, or both. :lol:

Have some rep.

Reply 11

TheGuyReturns

Original post by McMicheal

The politicians who keep this tax in place don't gain anything personally, so how is it greedy on their part?

As for your moaning about the taxman. He needs the money, to you know, keep civilization alive. Taking it from unearned wealth headed to the children of well off parents is the fairest form of tax there is! Why should income tax be at a higher rate than IHT?

Reply 12

scrotgrot

Original post by arson_fire

So you yourself are lazy and feckless?

Yes, I'm terribly lazy and feckless, and have been coasting on my family's dime for way too long, buggering about at university. I hate myself for it, especially given the hardships poorer people face. At least I check my privilege though.

If you stop being so greedy and work for your own money, you won't have to worry about whether or not your parents are going to give it to you when they die. In such a way, the children of the well-off can avoid being lazy and feckless, and contribute to the society which gave them such a wealth of opportunities.

Isn't a lot of the neo-liberal philosophy about standing alone? It's rank hypocrisy to say there's no such thing as society and then turn around and say you should rely on your own family.

And why is someone well off not allowed to question the systems that made them well off? Give me a champagne socialist any day rather than someone who licks the boots of neo-liberalism just because they happen to have been thrown a few crumbs themselves.

Reply 13

scrotgrot

Original post by TheGuyReturns

Not only that, wealth redistribution boosts the economy, since the poor spend money on essentials which the rich would otherwise sequester. With spiralling inequality, and especially the fact that savings are at best invested in other countries or at worst simply hidden offshore, it's a miracle and a testament to the resourcefulness of the poor that we have any economy at all left in this country.

Reply 14

Bill_Gates

I am sorry i want to do well in life and want to give my children a good start in life?

Is that what you wanted to hear?

LOL

I'm glad i am "diversified". UK is on some crazy left wing spiral which will just lead to an even bigger mess as it's not willing to work hard and pay its way in the world!

:smile:

Bill.

Reply 15

TheGuyReturns

Original post by Bill_Gates

Bill.

So a bit like the children you plan on giving unearned wealth? Just as long as we're clear...

Reply 16

scrotgrot

Original post by Bill_Gates

Bill.

Wow, if that's your assessment of the investment environment in this country then I can only assume someone much more competent is managing your portfolio for you. There are a lot of things wrong with the UK, but one thing it's assuredly not is "crazy left-wing".

And of course you want to do the best for your children, everyone does. Ever considered it's not all about you though, and that other people with much more modest means than yourself also want the best for their children?

Get this: that's what democracy is all about. It's one person, one vote, not one pound, one vote - though maybe I shouldn't give you ideas...!

Reply 17

Bill_Gates

Original post by TheGuyReturns

So a bit like the children you plan on giving unearned wealth? Just as long as we're clear...

Circular reasoning i see?! Nice.

My children can have a higher standard of living - better education take jobs which are seen as more rewarding with fewer hours due to the input i have left them with?

However i don't intend to give them an easy life.

Inheritance is not something we would discuss everyday and normal activities will occur.

Bill.

Reply 18

Bill_Gates