Reply to: Oh dear - wages go up and signing bonuses.

[Gibbon]

Much of the "inheritance" for people I know is from the increase in value of property.
That wealth has not been taxed already, and if you're vet's age, or older, it was bought on a mortgage with MIRAS, so there was less tax paid.

MIRAS hardly touched the interest rate, back then. Remember the 7-10% days and even up to 15%? I remember the Halifax affordability test being carried out with 10% interest.

[lorakeen]

now we just give first time buyers cash so house prices go up and those nice housebuilders get more.

I did appreciate the whole £17 a month I got off my mortgage.

Here in the Netherlands, I get the interest on my mortgage back with my tax return.

[vetran]

Much of the "inheritance" for people I know is from the increase in value of property.
That wealth has not been taxed already, and if you're vet's age, or older, it was bought on a mortgage with MIRAS, so there was less tax paid.

now we just give first time buyers cash so house prices go up and those nice housebuilders get more.

I did appreciate the whole £17 a month I got off my mortgage.

[lorakeen]

You want other people to pay so you can sit on your arse - that is called communism

Well technically speaking (and I speak as someone born and raised in a Communist country)- that's what they think Comunism is.
In practice, if you were not in work or school, the Police would literally pick you up from the street and take you to the nearest factory, whether you liked it or not.
The people who think Communism is sitting on your ass doing nothing would be in for a rude awakening.

[WTFH]

I'd argue we should scrap inheritance tax. The wealth has already been taxed once, why should it be taxed again and at such a high % (after exemptions)?

There should certainly be exemptions for 'common law*' partners



* inheritance tax forces people to get married as they get to end-of-life even if they don't really want to. That feels wrong in this day and age.

Much of the "inheritance" for people I know is from the increase in value of property.
That wealth has not been taxed already, and if you're vet's age, or older, it was bought on a mortgage with MIRAS, so there was less tax paid.

[AtW]

"Shop prices rise amid driver shortages and Brexit red tape

Retail data shows 0.4% month-on-month increase in August, with 0.6% rise in non-food

UK shop prices rose last month, according to the latest data from the British Retail Consortium, in a sign that driver shortages and the costs of Brexit-induced red tape are beginning to hit household budgets.

The latest figures from the BRC and research group NielsenIQ reveal a 0.4% month-on-month rise in August. This was driven by a 0.6% rise in non-food prices, including a sharp increase in the cost of electrical goods caused by shortages of micro-chips and shipping problems.

While British shop prices remain below those in 2020, down 0.8% in August compared with the same month a year earlier, that marked a slowdown in deflation from the 1.2% year-on-year fall recorded in July."

https://www.theguardian.com/business...rexit-red-tape

Taxpayers will just have to pay more money to fund all sort of tulip linked to inflation.

[Whorty]

No but their industrious ancestors should be able to dispose of their wealth how they want after inheritance tax.

envy Politics strong of in this one are...

I'd argue we should scrap inheritance tax. The wealth has already been taxed once, why should it be taxed again and at such a high % (after exemptions)?

There should certainly be exemptions for 'common law*' partners



* inheritance tax forces people to get married as they get to end-of-life even if they don't really want to. That feels wrong in this day and age.

[OwlHoot]

That is the landed gentry argument all the time - if you go grouse shooting on an estate, you generate income for the community. Except you only generate money for the estate owner and their staff. ..

Not so. On Exmoor for example, my neck of the woods, there are dozens of people who make a living providing catering and transport for all the local shoots, and there are the gun companies making money maintaining the shot guns and supplying the ammo, and the breeders supplying and training the gun dogs.

[vetran]

As has been historically, the 14th century black plague put paid to serfdom, the 17th plague (and overseas plundering) started the seeds of the industrial revolution. We had our chance with coronavirus but bottled it with vaccines!

We didn't need to kill everyone like before , Covid, Brexit, IR35 and zero hour contracts seem to have presented the opportunity. Lets hope we grasp it.

[Gibbon]

The fact they ae offering it is significant.

All the time labour is short then employee rights grow.

As has been historically, the 14th century black plague put paid to serfdom, the 17th plague (and overseas plundering) started the seeds of the industrial revolution. We had our chance with coronavirus but bottled it with vaccines!

[vetran]

That is the landed gentry argument all the time - if you go grouse shooting on an estate, you generate income for the community. Except you only generate money for the estate owner and their staff.

It's the same argument that's used for big game hunting. It brings money to the owner and then indirectly to their staff, but it is not giving much income to the local community.

You really do have a chip on your shoulder about landed gentry. I used to live in the country most of the local kids worked for the Major on the farm he bought after being demobbed, or they worked at the tenanted farm on the hill managed by a poorish family.

The rich people don't tend to do farms its a lot of work and risk.

The biggest house was owned by an Arab.

Our local lady lived in a terraced cottage.

[vetran]

people should be allowed to live without work. if we've gained something through advancements in society is automation in most of the work environments.

you can get to feed 1000's of people with a factory run by 50 people.

Living without work - that is possible if you are successful - I have had months without working living off funds I stole off the poor by being better at my job than they were. When I retire I intend to do similar.

You want other people to pay so you can sit on your arse - that is called communism but that usually means only the top 1% of the most brutal have a life of leisure the rest end up in tractor factories and Gulags.

No you feed the factory with lots of fields and water, the factory then converts that to processed food. You could do Hydro or aquaponics and use less land but it still requires someone to brave enough to turn it into a business to make obscene amounts of money so they can buy a massive country house to lord it over the peasants down in the outback (Devon) and then give it to their descendants to buy tweed and cocaine.

[Gibbon]

That is the landed gentry argument all the time - if you go grouse shooting on an estate, you generate income for the community. Except you only generate money for the estate owner and their staff.

It's the same argument that's used for big game hunting. It brings money to the owner and then indirectly to their staff, but it is not giving much income to the local community.

So what you are saying is that the staff and the local community are mutually exclusive. I.e. the staff actually live far far away and don't spend any of their income locally? WoW you know a lot about this.

[vetran]

Would "bone-idle shirkers" include those who live off the family inheritance in their manor houses, or just "make money" but not anything of real value?

No but their industrious ancestors should be able to dispose of their wealth how they want after inheritance tax.

envy Politics strong of in this one are...

[Fraidycat]

From 2019: "The top 1% of earners in the UK now account for more than a third of income tax paid to the government, following changes over the past decade that have left almost half the population exempt from making payments."

It was the Tories who raised the income Tax threshold from £6000 to over £12000 a year.

It was Thatcher and Major who cut the basic rate of income tax from 33% to 23%.

Labour under Blair and Brown did fook all for the hard working class man, they prefered to hand to out benefits to Lazy scroungers.