This discussion is now closed.
Check out other Related discussions
- 2020 - 5 wasted years, what could have been?
- 2024 Budget: Chancellor Jeremy Hunt under pressure to cut taxes
- Labour plans to add 20% VAT to Private School fees.
- Student Finance and inheritance
- Council tax exemption- multiple addresses
- Have the Tories stopped being Conservative?
- How are you planning to buy your first house?
- Explain Liss truss policies to me
- [Official Thread] Chancellor Jeremy Hunt to deliver Autumn Statement on Wednesday
- SFE Application
- Unearned income
- Marital status application form
- Pff2 form, student finance wales
- how many people here smoke?
- Too MUCH maintenance Loan
- Parents rental income
- Taxes Question
- Does inheritance affect my student loan?
- sudden change in parental income not reflected on sfe forms
- Just received my settled status. Can I now get mantance loan?
Isn't inheritance tax the fairest form of tax that can exist? Why don't we tax 100%.
You haven't earnt it. You've done nothing but scream and cry - why shouldn't the government tax inheritance?
A 100% tax rate would also boost the economy, as people wouldn't hoard - they'd always do what was in their and others best interests so long as they lived.
What does TSR think would be the results of a 100% Inheritance tax?
A 100% tax rate would also boost the economy, as people wouldn't hoard - they'd always do what was in their and others best interests so long as they lived.
What does TSR think would be the results of a 100% Inheritance tax?
Scroll to see replies
But people have already paid income tax on their earnings as well as V.A.T on their belongings, why should those assets be taxed again?
Conversely, why should the government tax it? You need a damn good reason, other than "It would boost the economy" nonsense. I'd support some sort of reform, but not what you suggest.
Erm, because said assets and finances have been previously taxed?
Yes, Labour are thieving scum.
Yes, Labour are thieving scum.
It would then cease to be tax, it would be robbery. An end to this conversation and get in the real world.
Individuals with inter-generational preferences would want to maximise their wealth across generations. So imposing taxes would have a distortionary effect on behaviour in one generation. E.g. Some businesses are built on the assumption that it will be passed on to the next generation. Imposing 100% inheritance tax on assets linked to the business would dissuade individuals from maximising wealth in any one generation.
It'd hardly boost the economy. One of the main driving forces that makes people keep working is to ensure security for their family. All the rich people would emigrate.
If you've earnt these assets which have already been taxed, you should have the right to do with them what you want.
EDIT: Also, what about kids who get orphaned at 16 - sorry kids, you would have had a comfortable life with your parent's assets but now you don't get ****.
If you've earnt these assets which have already been taxed, you should have the right to do with them what you want.
EDIT: Also, what about kids who get orphaned at 16 - sorry kids, you would have had a comfortable life with your parent's assets but now you don't get ****.
i would spend all my money.. take out huge loans and then make the government pay for my retirement if this was the case 
Redemption
You haven't earnt it. You've done nothing but scream and cry - why shouldn't the government tax inheritance?
A 100% tax rate would also boost the economy, as people wouldn't hoard - they'd always do what was in their and others best interests so long as they lived.
What does TSR think would be the results of a 100% Inheritance tax?
A 100% tax rate would also boost the economy, as people wouldn't hoard - they'd always do what was in their and others best interests so long as they lived.
What does TSR think would be the results of a 100% Inheritance tax?
As mentioned, the people leaving the inheritance have earnt it and paid tax on it already. Plus, I don't see why the government has any more claim on it than the deceased relatives etc. If someone has worked hard all their lives and then leaves money for their children and grandchildren, to help especially in the current financial climate, I think they should be allowed to keep it.
A 100% tax rate would be unfair and unwelcome - it would cause conflict and public outrage and no government wants that. Plus, I doubt the money would boast the economy as it would probably get lost (finding its way into the pockets of a dozen levels of administration).
isnt the argument against the same as any other tax increases?
Whilst inheritance tax is unjust imo it does go some way into leveling the playing field.
If you look at the practicalities - the rich keep getting richer, do we want to go back to the feudal system where a class of lords (the rich) live of their purely inherited wealth while the serfs till the fields in virtual slavery?
Untill there is a solution to the exploitation of the poor and the extreme lack of merit in such "inherited wealth societies" then i think some sort of inheritance tax in a necessary evil.
I however do think that the tax should aim to restrict the negative social consequences of "piling up of wealth" and leave it at that. It should not aim to take as much money as possible because i don't think that can be justified.
If you look at the practicalities - the rich keep getting richer, do we want to go back to the feudal system where a class of lords (the rich) live of their purely inherited wealth while the serfs till the fields in virtual slavery?
Untill there is a solution to the exploitation of the poor and the extreme lack of merit in such "inherited wealth societies" then i think some sort of inheritance tax in a necessary evil.
I however do think that the tax should aim to restrict the negative social consequences of "piling up of wealth" and leave it at that. It should not aim to take as much money as possible because i don't think that can be justified.
I love it.
Would be too much of a fundamental change for it to ever happen in practice, but I like the idea, especially the gvt. made very good provision for children.
Would be too much of a fundamental change for it to ever happen in practice, but I like the idea, especially the gvt. made very good provision for children.
This is a rediculous idea.
Like many other people said, its a bit pointless and doesn't make sense specially as people have paid income taxes so isn't it kind of double taxing?
Sure it helps redistribute income but surely progressive taxation and tax benefits are more useful and fair than the inheritance tax?
Swiss accounts all the way! Lol
Sure it helps redistribute income but surely progressive taxation and tax benefits are more useful and fair than the inheritance tax?
Swiss accounts all the way! Lol
Without tax we'd have no roads, rail, transport, healthcare, schools etc etc.
I don't agree that inheritance tax should be any more than it is now, but to all those who hate tax so much, cry me a river.
I don't agree that inheritance tax should be any more than it is now, but to all those who hate tax so much, cry me a river.
loadmalz
Inheritance tax has no reason at all. Tell you what else is bull****; Capital gains tax.
I ****ing hate tax.
I ****ing hate tax.
Amen brother!
It's an interesting idea, but would you include assets?
I'm afraid the idea is so engrained that people would (even more than they do now) just find elaborate dodges, especially powerful people. This would mainly end up affecting poor bastards who don't inherit much anyway
I'm afraid the idea is so engrained that people would (even more than they do now) just find elaborate dodges, especially powerful people. This would mainly end up affecting poor bastards who don't inherit much anyway
Related discussions
- 2020 - 5 wasted years, what could have been?
- 2024 Budget: Chancellor Jeremy Hunt under pressure to cut taxes
- Labour plans to add 20% VAT to Private School fees.
- Student Finance and inheritance
- Council tax exemption- multiple addresses
- Have the Tories stopped being Conservative?
- How are you planning to buy your first house?
- Explain Liss truss policies to me
- [Official Thread] Chancellor Jeremy Hunt to deliver Autumn Statement on Wednesday
- SFE Application
- Unearned income
- Marital status application form
- Pff2 form, student finance wales
- how many people here smoke?
- Too MUCH maintenance Loan
- Parents rental income
- Taxes Question
- Does inheritance affect my student loan?
- sudden change in parental income not reflected on sfe forms
- Just received my settled status. Can I now get mantance loan?
Latest
Trending
Last reply 3 days ago
Why is the political left now censorious and authoritarian??Last reply 3 days ago
Is it true that British unis are prejudiced towards degrees from Scottish unis?Last reply 3 days ago
If the Russell Group was now a fair representation of what it still claims to beLast reply 2 weeks ago
TSR Goes Green: How important will the environment be in this year's election?Last reply 2 weeks ago
Research Rankings of universities if you add Research Quality & Intensity percentagesLast reply 1 month ago
Is University of Birmingham prestigious and respected well enough in UK ?Trending
Last reply 3 days ago
Why is the political left now censorious and authoritarian??Last reply 3 days ago
Is it true that British unis are prejudiced towards degrees from Scottish unis?Last reply 3 days ago
If the Russell Group was now a fair representation of what it still claims to beLast reply 2 weeks ago
TSR Goes Green: How important will the environment be in this year's election?Last reply 2 weeks ago
Research Rankings of universities if you add Research Quality & Intensity percentagesLast reply 1 month ago
Is University of Birmingham prestigious and respected well enough in UK ?
