Sep 2023
9:04pm, 25 Sep 2023
23,579 posts
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richmac
He's gotta keep his paymasters sweet so he has a job in a few months
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Sep 2023
1:22pm, 26 Sep 2023
22,087 posts
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larkim
I think IHT is a bigger play than just trying to appease the usual donors. The political clout of IHT reductions isn't that it immediately benefits those who payroll the Tory party, it's that it is a long term aspirational appeal to those who want to be as wealthy as them but aren't yet. c.f the West Wing's "Ways and Means" episode I think where a similar position is put, if memory serves. Or maybe that's just me living life by the West Wing... |
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Sep 2023
1:25pm, 26 Sep 2023
22,088 posts
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larkim
Even if he is a sincere Tory, you've got to question the wisdom of someone choosing to be selected for a round of elections which most likely going to see your side annihilated. bbc.co.uk |
Sep 2023
1:31pm, 26 Sep 2023
15,497 posts
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jda
The political clout of IHT is that almost no-one knows that there's already a 1 million pound threshold for married couples, only a minuscule proportion of estates pay anything at all, and the vast majority of inherited wealth passes to rich people in their 50s and beyond. Of course it's in the interests of the richest that this state of ignorance persists, which is why the press rarely mentions it. As for Cracknell, posh and brain damaged - what more needs to be said? |
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Sep 2023
2:03pm, 26 Sep 2023
22,090 posts
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larkim
Yes, that's true too - either everyone thinks they will be paying it soon because they aspire to be wealthy, or that they will be paying it because everyone does. Harsh on Cracknell for his ABI but otherwise fair. |
Sep 2023
2:12pm, 26 Sep 2023
9,964 posts
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Fields
Why do the rich hate paying tax so much? I can only assume they get aroused by seeing poor people suffer. |
Sep 2023
2:12pm, 26 Sep 2023
47,850 posts
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HappyG(rrr)
And it's always spun as "my parents worked hard to pay off their mortgage and have something to give to their kids". Almost no one who started with nothing ends up with an estate worth £1M plus. Most inherited from their parents, so persisting the myth. Bloody millionaire / billionaires.
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Sep 2023
2:20pm, 26 Sep 2023
22,091 posts
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larkim
It's not just the rich that hate paying tax. We're all almost taught to hate it - "cash in hand" trades, "tax deductibility" for expenses or commercial spend, tax-free saving schemes, duty free buying etc etc. The mantra is that tax is bad, and to be avoided where possible. Clearly the balance of tax is wrong in the UK though I do think that lower earners should always pay some tax as part of something of a civic contract. I don't hate it. I welcome it, but that hasn't stopped me finding some limited ways to reduce the expense to me and my family occasionally. |
Sep 2023
2:48pm, 26 Sep 2023
4,238 posts
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Ally-C
And it's always spun as "my parents worked hard to pay off their mortgage and have something to give to their kids". Almost no one who started with nothing ends up with an estate worth £1M plus. Most inherited from their parents, so persisting the myth. Bloody millionaire / billionaires. These days a £1m doesn’t really amount to much if there’s property involved particularly in the SE of England. |
Sep 2023
3:07pm, 26 Sep 2023
20,715 posts
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Chrisull
It's the principle of the tax, look at many of the richest UK born people in this country (such as the Duke of Westminister) and they've just inherited wealth way back to the days of William the Conqueror when he rewarded his most loyal followers. How can one king who lived a 1000 years ago still exert the sway over who has money/land and who doesn't? Yet the aristocracy and those with the "birthrights" have the power, they control the discourse, wholly by the dint of winning the "who are you born as" lottery. It shouldn't just be pooled in the pockets of the 1%, and if we truly support a meritocracy, inheritance has to be properly taxed (current system is shite by the way). |
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