The Tories intend raising the threshold of inheritance tax to £2 million; are they looking after their own?

Question

Same old Tories!

http://www.telegraph.co.uk/news/newstopics/politics/conservative/2663564/Tories-plan-to-raise-inheritance-tax.html

Answer 1

They are looking after anyone from any background who has got off their backsides and taken calculated risks (and also employing other people) to make a better life for themselves and who want to pass it onto their children. Gordon is a robbing git!

Also... they have been taxed already when they earned the money, 40%!!!!!!!!!!!!!!

Haz - are you getting confused with Stamp Duty?

Nothing to do with Trickle Down, if you want to support your family with the money you EARNED during your WORKING life then why should you give a lump of it away AGAIN. The 40% tax has been paid already. Politics of Envy yet again!

For the record, I'm skint and my parents will leave me well under £50k so I'm not defending their money, I don't like it when people who put the effort in end up paying twice for lazy b@stards who bleed the state dry.

HAZ - Because you mention helping other people buy their own home, Inheritance tax does nothing to help people get on the property ladder but Stamp Duty could do if they did away with it, I read what you posted and wasn't sure what you meant. Thanks.

Answer 2

Of course they are, if rich people pay taxes they have less money to give to political campaigns.

Answer 3

Five chins raises a good point.

Answer 4

i hope they do

the threshold at the moment is too low and many ordinary people are caught

i know i would be and i'm certainly not one of cameron's 'own'

five chins is right - we have paid 40% tax on our earnings + more on so called 'perks'

now we have to pay tax on any savings we have accumulated after we die

perhaps if we had inherited money and we were leaving this .....but we haven't whatever we have we have worked for..... long and hard

Answer 5

Same old indeed....

It affects 6% of properties sold. THAT is not a policy that s going to improve the lot of the majority of people. Most of whom can no longer even hope to purchase their own home.

So ..so far they intend to help the top 6% of homeowners and reintroduce fox hunting. Excruciatingly p1ss poor.

EDIT-Five chins- No I'm not getting it confused with Stamp Duty. What have I said that made you think I was? No disrepect..just curious!

Answer 6

Politicians are the same the world over.

Answer 7

The Tories will do anything to gain power but nothing will change because the outside economic factors that the Tories created in the 80's and were continued in the 90's and over the last 8 years by New Labour have come back to haunt the country and the world due to the USA and the insanity of encouraging people to live beyond their means.

When  a Government minister like Mr Darling tells the truth ,as we know, then believe me this world and this country is in trouble.

It won't matter who wins because politics has lost the power to assist everyone and has become the realm of the grasping, greedy avoiders who want to take something out yet are not prepared to put something back in.

Tax the rich and the companies who avoid taxes.Stop the tax breaks to millionaires.

Huey"Kingfisher"Long was shot down in New Orleans about 60 years ago because he had the termity to suggest that in a fair equitable society people should be only allowed to earn £I million dollars per year and only be allowed to have a personal fortune of £5 million.All other profits and money would be returned to society for the greater good of the people.

Just imagine if this happened.Will it happen...Never.

We only need to look at the tragedy unfolding with the man who wilfully killed his family and animals and destroyed their home because he was living beyond his means.This senseless act which took the life of a wife and daughter only tells me that the love of money is the root of all evil and politics is now about money and not about creating a society where everyone is looked after.

The Tories can look after their own but a lot of their own are up to their eyes in debt.That wont change.Town halls instead of raising Council tax and cutting services should put an end to these made up jobs like...Cultural Director for Ethnic Studies with the salary of £80000 per annum and the golden parachute when they retire or are downsized or sacked.This is your money and the people we put in power are mismanaging it to their benefit and at your expense.

We have become apathetic politically.Our children have no interest now in their future and who will govern them.We have created this monster because we have become drugged into the stupor of TV which ties our imagination to illusion.Focus on an illusion.A made up thing.A no-thing!

The word Socialist is now treated with derision yet it took Socialists and their struggle over many years and obstacles to give us the society after the War where people were treated with respect.

Slowly but surely this has been eroded by modern politics who think a soundbite is more important than a policy that assists people at no profit but their own welfare.

It is finished this world now.No saviour will emerge from the hustings.As W.B Yeats said in his poem"The Second Coming".

Things fall apart;the centre cannot hold;

Mere anarchy is loosed upon the world,

And what rough beast,it's hour come round at last,

Slouches towards Bethlehem to be born?

We reap what we sow and we place all our eggs in the one basket and now the basket lies empty.

As the Chinese saying goes:May you live in interesting times,and by God we have now reached this point.

However I don't care because this existence as all moments will end in the physical sense and that is enough for me to get by.

Answer 8

Yes and no. Their voters are going to be predominantly richer, but then the whole of the UK is now wealthier than it was in the 70s. Inheritance tax is much more of a middle class tax than a super rich tax, as the super rich can afford to have clever accountants and place their wealth off-shore. The point is that inheritance tax is less now about the redistribution of wealth than it was in the post-war period.

Furthermore, as a revenue stream, it's not a brilliant income provider for the government. As a vote winner it's a fairly clear win-win option - it'll bring the middle classes on side, and it won't alienate large swathes of society - that society as a whole being considerably better off (Despite being a haven for the super-rich, the UK has a much better balanced Lorenz curve than we did, say 50 years ago).

If you don't know what the Lorenz curve is - look here

http://en.wikipedia.org/wiki/Lorenz_curv...