vikingTON Posted June 23, 2022 Share Posted June 23, 2022 9 minutes ago, HK Hibee said: So what? My folks worked hard to ensure when I got to 21 that I was in a better position then they were at the same age and instilled in me the same desire for my kids. I want them to do better than me and part of that is giving them a good head start. No, part of that is about ensuring that the society they live in is better than the one a generation before. If you want to obsess about your own sprogs' wellbeing only, kindly f**k off to some backward shithole state like Abu Dhabi where indentured fucking servants can serve them. Quote I bet most of the posters on here feel the same and as long as you pay the appropriate taxes etc then what is the problem with families bettering themselves each generation A: It produces generational inequality and, by extension, generational poverty. Quote The likes of you, me and every other poster on P&B passing on what we have earned to our kids is not the cause of the massive wealth gap in this country. It absolutely contributes to it, but by all means continue with the no doubt wild whataboutery exercise you're setting up here. Quote So what if your kids or my kids have some unearned wealth? That is how life should work - each generation bettering the last. Again, kindly f**k off to Abu Dhabi with sociopathic level of family unit individualism. 1 Quote Link to comment Share on other sites More sharing options...
Glen Sannox Posted June 23, 2022 Share Posted June 23, 2022 41 minutes ago, Granny Danger said: You really shouldn’t get to concerned about this. After all you’re unlikely to accumulate much wealth and I can’t imagine you will have any kids to leave it to. Certainly hope not anyway! He couldn’t possibly accumulate wealth given that his whole life revolves around a football forum. It’s actually quite sad. 0 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 23, 2022 Share Posted June 23, 2022 1 hour ago, Left Back said: It clearly doesn’t if it can’t provide social care for all those who need it, or a decent NHS, or double-digit pay hikes for the public sector. Yet if can mount a pandemic response for 2 years spending billions. The state can do whatever it chooses. It’s chooses not to provide some things in favour of other things. 1 Quote Link to comment Share on other sites More sharing options...
red23 Posted June 23, 2022 Share Posted June 23, 2022 As soon as i heard it was being nationalised i knew exactly how it was going to end up. Why did they do it exactly? 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 23, 2022 Share Posted June 23, 2022 4 minutes ago, Aufc said: I agree with you on the need for a wealth tax. However, I don’t think I am anywhere near the level that it should relate to If you're at the level where you pay income tax then you're at a level where you should pay a wealth tax. We can discuss raising the threshold for both but the bar is currently set very low for income but ridiculously high for wealth - that is why the UK is an enormously unequal society today. 0 Quote Link to comment Share on other sites More sharing options...
'WellDel Posted June 23, 2022 Share Posted June 23, 2022 9 minutes ago, Left Back said: So I could conclude you’re unwilling to pay more tax for better public services then? With your emphasis on “working/workers” I’d speculate you’d be happy for higher earners to pay more though? Successive governments haven’t done some of the daft things this government has done, except of course Labour spending all our money on a dodgy war and giving what’s left to the bankers, or the SNP (on a smaller scale obviously as they have a smaller budget) with their various financial fuckups of the last few years. You’re in denial if you think any other party handles your money any better. No, what you could conclude is that better use, and less spunking away of what we already give them should vastly reduce the need for them to take any more. I already pay tax at the higher rate only to watch them waste much of it, and blatantly and corruptly siphon more off for themselves. If I could see our monies being used wisely and put to good use, I would have no issue with a little more as long as it could be seen and proven conclusively to be directed straight into the NHS or whatever. I'm wholly against it when it is incompetently lost through fraud, needlessly wasted, or used to line their own pockets. I have absolutely no political leanings whatsoever and do not vote in elections. I'm in absolutely no denial whatsoever around the use of the money I am taxed, no matter which party is in office. They all f**k it one way or another. That is the reason I am loathe to give them more. 2 Quote Link to comment Share on other sites More sharing options...
Glen Sannox Posted June 23, 2022 Share Posted June 23, 2022 3 minutes ago, virginton said: No, part of that is about ensuring that the society they live in is better than the one a generation before. If you want to obsess about your own sprogs' wellbeing only, kindly f**k off to some backward shithole state like Abu Dhabi where indentured fucking servants can serve them. A: It produces generational inequality and, by extension, generational poverty. It absolutely contributes to it, but by all means continue with the no doubt wild whataboutery exercise you're setting up here. Again, kindly f**k off to Abu Dhabi with sociopathic level of family unit individualism. To think, on here they accuse Kincardine of drinking too much! 1 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 23, 2022 Share Posted June 23, 2022 45 minutes ago, virginton said: How does that argument work out for you with HMRC, when they collect income tax on actually earned wealth? The person who earned the wealth has every right to decide what to do with it. And then the state has the right to apply taxes to whatever transfer of wealth the original owner chooses. That's how 'taxation' has worked since the dawn of organised societies. The stuff that’s left after tax and national insurance and whatever other taxes is the earned wealth I was referring to. 0 Quote Link to comment Share on other sites More sharing options...
Dan Steele Posted June 23, 2022 Share Posted June 23, 2022 ScotRail thread derailed 5 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 9 minutes ago, Scary Bear said: Yet if can mount a pandemic response for 2 years spending billions. The state can do whatever it chooses. It’s chooses not to provide some things in favour of other things. The old favourite. Let me guess. The state can borrow unlimited money so we should all be living in a paradise. If it was that easy how come no government has cottoned onto this before? If they put us in paradise surely they’d win every election until kingdom come? 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 23, 2022 Share Posted June 23, 2022 (edited) 6 minutes ago, Scary Bear said: The stuff that’s left after tax and national insurance and whatever other taxes is the earned wealth I was referring to. But by the specious logic of your argument, both tax and National Insurance are illegitimate claims on 'earned wealth' that you should be freely allowed to dispense too. Assuming that you're not a complete libertarian weirdo who objects to all taxation, it is therefore illogical for you to not just accept but take for granted the state lopping off 20-30% of your earned income before it even hits your bank account, but then throw your arms up at the injustice of the state taking a share of the completely unearned wealth being passed down to sprogs. Of all the taxes that a modern state can apply, inheritance tax is quite clearly the most justifiable by your own description of fairness. Edited June 23, 2022 by vikingTON -2 Quote Link to comment Share on other sites More sharing options...
Empty It Posted June 23, 2022 Share Posted June 23, 2022 I don’t vote Conservative.I know some amount of shite gets posted on here but this is probably the biggest amount of shite I've seen. 2 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 20 minutes ago, red23 said: As soon as i heard it was being nationalised i knew exactly how it was going to end up. Why did they do it exactly? Same reason every government does anything. Vote winner. 0 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted June 23, 2022 Share Posted June 23, 2022 We inherited some money from my wife’s great aunt when she died and I had never thought about inheritance or anything like that. I looked into it as I was curious if we’d breached the threshold, the inheritance has to be something like £300,000 to pay anything. There must also be loads of ways to avoid paying it, assuming you are planning for someone dying of old age. 0 Quote Link to comment Share on other sites More sharing options...
Zen Archer (Raconteur) Posted June 23, 2022 Share Posted June 23, 2022 1 minute ago, ICTChris said: We inherited some money from my wife’s great aunt when she died and I had never thought about inheritance or anything like that. I looked into it as I was curious if we’d breached the threshold, the inheritance has to be something like £300,000 to pay anything. There must also be loads of ways to avoid paying it, assuming you are planning for someone dying of old age. Is it based on the movable estate, if so put it in property. 0 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted June 23, 2022 Share Posted June 23, 2022 2 minutes ago, ICTChris said: We inherited some money from my wife’s great aunt when she died and I had never thought about inheritance or anything like that. I looked into it as I was curious if we’d breached the threshold, the inheritance has to be something like £300,000 to pay anything. There must also be loads of ways to avoid paying it, assuming you are planning for someone dying of old age. I was under the impression is was somewhere around half of that 0 Quote Link to comment Share on other sites More sharing options...
HK Hibee Posted June 23, 2022 Share Posted June 23, 2022 @virginton so what is your solution then? You seem to think that people working away, saving money and passing it on their kids (who then pay taxes on this)is an absolutely abhorrent activity given your response to my previous post. ok - that is a point of view but not one I share. I absolutely agree that there is a massive and growing wealth gap in this country but the people who take the time to post on P&B are unlikely to be the cause of it . what is your answer to the problem? -1 Quote Link to comment Share on other sites More sharing options...
Cosmic Joe Posted June 23, 2022 Share Posted June 23, 2022 27 minutes ago, red23 said: As soon as i heard it was being nationalised i knew exactly how it was going to end up. Why did they do it exactly? End up? It's been nationalised for about 10 weeks. 2 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, ICTChris said: We inherited some money from my wife’s great aunt when she died and I had never thought about inheritance or anything like that. I looked into it as I was curious if we’d breached the threshold, the inheritance has to be something like £300,000 to pay anything. There must also be loads of ways to avoid paying it, assuming you are planning for someone dying of old age. For inheritance tax in the U.K. it is the estate that has a tax liability not the recipients. 1 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted June 23, 2022 Share Posted June 23, 2022 It’s £325,000, total value of estate with some exemptions if you leave money to your spouse or a charity. https://www.gov.uk/inheritance-tax 0 Quote Link to comment Share on other sites More sharing options...
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