Politics

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Dec 2018
1:17pm, 14 Dec 2018
18,194 posts
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DeeGee
My parents bought a house in 1973, then via a series of moves, ended up in a house worth more than £350k. They took out the mortgage, added value to the home so they are sat on the asset they have now. They did it, not me. Although I did have use of the house for many years before setting out on my own.

I bought a house in the early part of the century on a mortgage, and due to the shrewdness of my wife, coupled with us both working hard, we now own the house, and are sat on a big asset. We bought the house, nobody else. The banks profited for as little time as we could get away with.

I don't want my parents' home - it's their money, not mine, and it's quite reasonable to expect me to have to pay tax on any unearned income I make as a result of my parents' endeavours. Indeed, having worked hard, and paid for the house, I'd expect them to want to release equity from the home if they needed in order to enjoy their retirement - it is not my money, just as my wife and I fully intend downsizing our home when we are older to give us some of our money back to enjoy life. Because it's my money and should be mine to spend as I wish in life, but it isn't my childrens' money, they will have the opportunity to work for their own in time.

I've no problem with giving the state some of the payment towards what I've had from the state on checkout.
Dec 2018
1:21pm, 14 Dec 2018
121 posts
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mascott514
inheritance tax is fine by me, why should my family benefit from money I didn't earn, when poorer families cant afford to live in the village anymore.

If we need houses for lower income families, we need money to build them. So, taking money - SOME- money off dead peopled ensuring all of usage better off makes sense.

My dad paid his mortgage, not me.

Ill get a bit, but I didn't earn it- ill happy pay up when the time comes!
Dec 2018
1:21pm, 14 Dec 2018
122 posts
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mascott514
bad

typos sorry....
Dec 2018
1:28pm, 14 Dec 2018
6,276 posts
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lark-the-herald-angels-sing-im
The issue all of you are discussing really isn't inheritance tax, it's capital growth / inflation of land & buildings.

If all earnings should be capped so that people can only earn what they are able and want to spend in their lifetimes (timing it perfectly for the day of their death) then that's a very bleak outlook.
Dec 2018
1:43pm, 14 Dec 2018
3,445 posts
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jdarun
"If all earnings should be capped so that people can only earn what they are able and want to spend in their lifetimes (timing it perfectly for the day of their death) then that's a very bleak outlook."

I'm not aware of anyone having ever said that, it sounds a bit silly to me.
Dec 2018
1:48pm, 14 Dec 2018
3,446 posts
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jdarun
Round here there are quite a few empty one-week-a-year holiday homes which people have inherited off their parents or even grandparents. It's a lovely area to visit, and of course the beneficiaries are (in these cases) middle-aged and reasonably well off, so why wouldn't they keep a spare house or two to visit occasionally, and pass on to their children in turn (along with their own house)?
Dec 2018
2:02pm, 14 Dec 2018
8,265 posts
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rf_fozzy
Hate to bring the subject back to Brexit, but....https://twitter.com/bbclaurak/status/1073542862573371392

Interesting viewing!
Dec 2018
2:02pm, 14 Dec 2018
8,266 posts
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rf_fozzy
I'll try posting the link again: twitter.com
Dec 2018
2:06pm, 14 Dec 2018
29,803 posts
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Merry Christmas and Happy NewG(rrr)
Laura K is rarely interesting viewing (doesn't anyone else thinks she grates somewhat?) Give me John Pienaar or Brian Taylor or Gary O'Donoghue or ...
Dec 2018
2:23pm, 14 Dec 2018
13,765 posts
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Bazoaxe
Back to tax as its nice to change topic

As I said I don't have a problem with higher taxation within reason. What I don't like is inconsistency. Most/all of the Scottish benefits were available long before we started to pay different taxes and I am not clear what exactly we are getting for these extra taxes we are about to pay. I do also think we should be consistent across the country and taxation and services

I do think though that taxation is a fine balance and at some point it can tip the balance as to what's the point of working any harder if I am going to see precious little of that.

About This Thread

Maintained by Chrisull
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