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Post by Phantom of London on Aug 11, 2016 20:15:43 GMT
Another political thread.
With the sad death of the Duke of Westminister yesterday, but that's what you get if you smoke, but he seemed an all round good egg and had some decent principles.
However the mantra gets passed to his young son, who will inherit all his fathers wealth and even better not pay a penny inheritance tax, as it's all tied up neatly and nicely in trust funds.
So you pay inheritance tax at 40%, so the rich don't have to.
BTW: That nice earner you inherited, that some loved one worked hard for - will be stripped from you, when you end up in a care home vulnerable.
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Post by Deleted on Aug 11, 2016 21:38:27 GMT
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Post by mrcurry on Aug 12, 2016 3:30:43 GMT
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Post by Jan on Aug 12, 2016 5:27:13 GMT
Another political thread. With the sad death of the Duke of Westminister yesterday, but that's what you get if you smoke, but he seemed an all round good egg and had some decent principles. However the mantra gets passed to his young son, who will inherit all his fathers wealth and even better not pay a penny inheritance tax, as it's all tied up neatly and nicely in trust funds. So you pay inheritance tax at 40%, so the rich don't have to. BTW: That nice earner you inherited, that some loved one worked hard for - will be stripped from you, when you end up in a care home vulnerable. Hard to know where to start with this: Firstly if you have assets of less than £325k you pay no inheritance tax. So you have more than that ? Second Osborne raised the threshold from 2020 to £500k plus a family home of less than £1million which can be passed to children or grandchildren inheritance tax free. So from what you say you are fully supportive of that move so that even more people don't have to pay? Thirdly after all that if you still have an inheritance tax liability you can use the same trust structures as the Duke - they are not reserved for rich people and are cheap to implement. So what's the problem ? |
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Post by mrcurry on Aug 12, 2016 5:38:45 GMT
Trust structures are not cheap to implement. Tax is optional for the very rich. They hide money in the Panama and may be embarrassed when details are leaked in the newspaper. A single Mother accidentally claims some benefits she is not entitled to and she is taken to court and embarrassed in the newspapers.
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Post by Jan on Aug 12, 2016 5:40:28 GMT
Incoherent. His idea the government should only tax things it wants to discourage is bizarre, though I suppose if I was earning several million pounds a year from the BBC and others I'd want an income tax rate of zero too. |
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Post by Jan on Aug 12, 2016 5:47:26 GMT
Trust structures are not cheap to implement. Tax is optional for the very rich You are wrong. The poor don't pay any inheritance tax. People who do can very cheaply set up trusts (a bare trust for example) to shelter assets from inheritance tax. Presumably you too would support Osborne's raising of the inheritance tax threshold so that even more people pay nothing ? This whole argument that rich people avoid inheritance tax but poor people have to pay it is just spurious. |
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Post by mrcurry on Aug 12, 2016 5:59:05 GMT
Trust structures are not cheap to implement. Tax is optional for the very rich You are wrong. The poor don't pay any inheritance tax. People who do can very cheaply set up trusts (a bare trust for example) to shelter assets from inheritance tax. Presumably you too would support Osborne's raising of the inheritance tax threshold so that even more people pay nothing ? You think David Mitchell is incoherent ? I don`t think so. I am not wrong. You go to a solicitor and ask how much to set up a trust plus ongoing costs. I am in favour of as low taxes as possible. However they should be uniformly the same for everyone. The government know about the big corporations offshore schemes and yet have not closed the loopholes. |
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Post by Jan on Aug 12, 2016 6:01:17 GMT
You are wrong. The poor don't pay any inheritance tax. People who do can very cheaply set up trusts (a bare trust for example) to shelter assets from inheritance tax. Presumably you too would support Osborne's raising of the inheritance tax threshold so that even more people pay nothing ? You think David Mitchell is incoherent ? I don`t think so. I am not wrong. You go to a solicitor and ask how much to set up a trust plus ongoing costs. I am in favour of as low taxes as possible. However they should be uniformly the same for everyone. The government know about the big corporations offshore schemes and yet have not closed the loopholes. Sorry but you are wrong. Setting up a bare trust to shelter assets from inheritance tax costs a few hundred pounds. I know this, you don't. I know several people who have done it, you don't. I also don't agree with your proposal that even poor people should pay inheritance tax and income tax at uniformly the same rate as everyone - the flat tax idea is a bit too right-wing for me. |
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Post by The Matthew on Aug 12, 2016 6:12:43 GMT
Incoherent. His idea the government should only tax things it wants to discourage is bizarre Yes, but his job in that clip is to entertain the audience, not act as an advisor on financial policy. Surely you must admit he has a point that when you're rich enough you get to decide whether people with far less money than you should bear the brunt of funding the country. After all, 40% of £9b is enough to pay the entire UK government expenditure for 43 hours. It's enough to pay the EU's entire administration costs for six months. It's more than the GDP of the world's eleven poorest nations. It's an awful lot of money for one person to wrap their arms around and say "mine!" |
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Post by Jan on Aug 12, 2016 6:29:17 GMT
Incoherent. His idea the government should only tax things it wants to discourage is bizarre Yes, but his job in that clip is to entertain the audience, not act as an advisor on financial policy. Surely you must admit he has a point that when you're rich enough you get to decide whether people with far less money than you should bear the brunt of funding the country. After all, 40% of £9b is enough to pay the entire UK government expenditure for 43 hours. It's enough to pay the EU's entire administration costs for six months. It's more than the GDP of the world's eleven poorest nations. It's an awful lot of money for one person to wrap their arms around and say "mine!" Yes I agree, my problem was his absurd suggestion that the government taxes things it disapproves of. I have some sympathy with the thought the Duke should pay some inheritance tax but the claim the rich avoid it but the poor pay it is just rubbish, the fact is that no-one needs to pay it. The expensive trusts to set up are those to avoid income and corporation tax, to do that you have to go offshore, Richard Branson and the Guardian newspaper are examples of people who have done that. In general I get a bit tired of these millionaire comedians parading their left-wing credentials. I live almost next door to a very famous one, £4 million house, several massive cars, children at private school etc etc. |
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Post by Phantom of London on Aug 12, 2016 7:26:20 GMT
Trust structures are not cheap to implement. Tax is optional for the very rich This whole argument that rich people avoid inheritance tax but poor people have to pay it is just spurious. The rich don't pay tax or take the option not to pay tax, the poor and the unwaged queue at food banks. |
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Post by Deleted on Aug 12, 2016 7:37:27 GMT
Well, I don't know about u but I'm asking Jan Brook out on a date! Ker-Ching!!!!!
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Post by Deleted on Aug 12, 2016 8:08:27 GMT
Well, I don't know about u but I'm asking Jan Brook out on a date! Ker-Ching!!!!! Be careful Mrs L _ as the song goes, "the rich get rich and the poor get children!" |
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Post by Deleted on Aug 12, 2016 8:10:09 GMT
Well, I don't know about u but I'm asking Jan Brook out on a date! Ker-Ching!!!!! Be careful Mrs L _ as the song goes, "the rich get rich and the poor get children!" I have 13 children already (albeit I am a sperm donor) and I'm poor as feck so da song ist spot on |
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