Why the tories do not deserve to win the next election

[The Lone Gunman]

So what incentive would that give for building for the future?
There would be no point in owning capital items or assets of any sort realy. You cant take it with you and you cant leave it to your kids so spend it while you can.
Who would invest in business etc?

[tay]

But imagine the amount of super hero costumes you could buy to prove how much you love your kids... before giving your money to HMRC instead of them!

Besides couldnt people do this anyway? Just change your will and give everything to the govt. Come on BP and DA, I dare ya to do it!

[DimPrawn]

But imagine the amount of super hero costumes you could buy to prove how much you love your kids... before giving your money to HMRC instead of them!

Besides couldnt people do this anyway? Just change your will and give everything to the govt. Come on BP and DA, I dare ya to do it!

Exactly. As the system stands now, you can give some money to your family when you die, or you could change your will now to leave everything to New Labour instead. If you don't believe in inheritence, you ain't forced to leave them a penny.

I'd fooking hate to be Brillo's kids.

[shaunbhoy]

I'd fooking hate to be Brillo's kids.

At least they can count all the pounds they inherit on the 7 fingers on each hand!

[tay]

Just to really piss off BP... NZ has no inheritance tax at all, and if the govt tried to introduce it.. there would be riots.
Inheritance tax is a classic jealousy tax.

[VectraMan]

You want New Labour to force the sale of all your assets (home, savings, etc) and have your family presented with a tax bill at your funeral and for the moeny taken to be spent on propping up other peoples debt who got greedy in the property boom?

Why is the family presented with a tax bill? Your affairs are nothing to do with the family, which is the point. Your estate is liquidated and any funeral or other costs are paid out of that, and the rest goes to the government.

I completely agree with the property boom comment, but it's tax, and we have to have tax. Wouldn't it be better to have lower taxes on the living and higher taxes on the dead?

It also means the elderly don't have to feel guilty about spending their children's inheritance. Which means if they really don't want the money to go to the government (which is fair enough), they get to spend it on themselves. Improves the general well-being of the elderly, and increases consumer spending which boosts the economy overall.

And the lazy who happened through an accident of birth to be born to rich parents, now have to work for a living like the rest of us.

Sounds good to me.

Okay, so there are a number of practical problems, and you can see why it's so unpopular. But it's not the crazy socialist policy that it sounds. This is about ensuring only people that deserve the financial rewards get the financial rewards, which if anything is anti-socialist.

[DimPrawn]

Why is the family presented with a tax bill? Your affairs are nothing to do with the family, which is the point. Your estate is liquidated and any funeral or other costs are paid out of that, and the rest goes to the government.

I completely agree with the property boom comment, but it's tax, and we have to have tax. Wouldn't it be better to have lower taxes on the living and higher taxes on the dead?

It also means the elderly don't have to feel guilty about spending their children's inheritance. Which means if they really don't want the money to go to the government (which is fair enough), they get to spend it on themselves. Improves the general well-being of the elderly, and increases consumer spending which boosts the economy overall.

And the lazy who happened through an accident of birth to be born to rich parents, now have to work for a living like the rest of us.

Sounds good to me.

Okay, so there are a number of practical problems, and you can see why it's so unpopular. But it's not the crazy socialist policy that it sounds. This is about ensuring only people that deserve the financial rewards get the financial rewards, which if anything is anti-socialist.

Utter cobblers.

You die and your children are young, what happens?

You die and your children are at college (aged 18) hoping to go through Uni. They would have nothing, no one alive to help them through, and no inheritence to fall back on.

What would the point of achieving anything more than min wage? Such a policy would drive out those with assets and make trying to achieve anything worth value pointless.

You make Wilmslow seem rational.

[tay]

The UK would become a 3rd world cesspit within one generation. Why would hard working people who actually care about thier children stay in the UK? Plenty of countries would welcome them with open arms.... and tell them to bring the wedges of cash.
Actually I like that idea.... bring it on!

I can just imagine how happy BP kids would be if BP and his kids mother die when they (the children) just turn 18, govt takes all the money, and the kids are left with the comofrt of.. 'its only fair', your dad didnt work hard to provide for his famnily, he worked hard so he could give it all to the govt to spend wisely on his behalf.

[DodgyAgent]

So what incentive would that give for building for the future?
There would be no point in owning capital items or assets of any sort realy. You cant take it with you and you cant leave it to your kids so spend it while you can.
Who would invest in business etc?

If we want a meritocratic society then inheritance tax should go all the way. If you have worked hard all your life then fine, what on earth are you going to do with it when you die? Giving the money to people does them no good at all. And why is doling out welfare to chavs any different from doling out daddy's wealth?

There are also too many people and families with too much power and too much money that they have not earned themselves-their lives are ruined. There are no families of rich people who would be ruined by not being given inheritance money-it will harm them not a jot.

reduce lower rates on income tax and corporation tax, as these taxes are much more harmful than inheritance tax.

[jimjamuk]

utter nonsence from the socialist brigade again