Is inheritance tax justifiable?

I wanted to know people's opinions on inheritance tax. Basically, the government (or at least the UK government) taxes you if your family's estate when they die is worth more than £325,000 when they die. Above that threshold, you get taxed 40%, may it be only a penny more or 100,000 more.

Do you think if your inheritance was that much it should be taxed? Why or why not?

(I'm just curious. Currently, I have no stance, hence I wanted to know)

I think it is the most unjustified form of tax, because as a human being you have the right to procreate and pass on what you've gained to your love ones so that may live better, be better and do better. It's a tax that hit's the working poor and working middle classes the hardest.

Hypothetically- imagine a state with like 80% inheritance tax- a poor man spends his whole life working his way out of poverty, and leaves just enough to give his grandchildren a deposit on their first house (his own children aren't as lucky- they've had to work just as hard). Then BAM! Back to square one.

Obviously it's not a problem for the rich because there comes a point where a tax as high as say 80% (or even 50%) doesn't affect them because they're already so wealthy in the first place, and have the legal and political knowledge (or financial means of acquiring it) to avoid such heavy taxes in the first place.

I wanted to know people's opinions on inheritance tax. Basically, the government (or at least the UK government) taxes you if your family's estate when they die is worth more than £325,000 when they die. Above that threshold, you get taxed 40%, may it be only a penny more or 100,000 more.

Thats why you do tax planning and give most of it away beforehand.

Thats why you do tax planning and give most of it away beforehand.

Assuming you don't die suddenly of HA or an accident.

I think it's the MOST justifiable form of taxation. The sole reason for inequality of opportunity is the inheritance of money, social/cultural capital, and education from your parents. What you inherit from your parents is clearly not a product of your own hard work. The more we can do to limit inequality of opportunity, the better.

I don't think you can make a libertarian argument that taxation and welfare reward laziness, punish hard work, and undermine meritocracy in the case of inheritance tax, as (as I said) it is not a product of your own hard work, but that of your parents.

Increase inheritance tax and spend the extra money on welfare for those who have nothing to inherit from their families.

The 40% only applies to the value of the estate above the £325,000, so the last thing you say here seems a bit odd. The first £325,000 is interitance tax free, however much more you have to pay it on.

I think it's a perfectly reasonable tax. If we want the things that we want in this country, they have to be paid for somehow, and a tax like this will only affect estates of a fair value.

I'm saying if you can't pass on what you've earned to your kids whats the point in working at all?

No lol the Government can't even spend the people's money efficiently and effectively, who the hell does the Government think it is getting involved in my money after I die?

Majority of people who support inheritance tax are those that come from poor families, if they were to bump into a long-lost relative that's rich as f*ck and would give them the inheritance then watch them change their tone "BUT ACKTUALLY ITS MAH MONEY!".

I'd question why the rich old relative had been so moronic and not spent their money...

It's funny you say "moronic" as if the guy, you know who's rich and stacked, is a loser? There's only so much you could spend, especially in this scenario where the relative doesn't have children to spend it on (hence why you're getting the money in the first place).

Hypothetically- imagine a state with like 80% inheritance tax- a poor man spends his whole life working his way out of poverty, and leaves just enough to give his grandchildren a deposit on their first house (his own children aren't as lucky- they've had to work just as hard). Then BAM! Back to square one.

I think ordinary people who have their whole lives to build something that resembles a house that they own, having that taken away from their children because it worth 500k is pretty appalling.

The threshold should be raised massively, to the millions of pounds and the percentage should be far lower. That way working-people don't get hit the hardest and deprived of the right to pass their property on.