Burke was right in those days as his thinking is today.
Burke said, "Cutting the throats of the rich does not provide one bit of bread and cheese for the poor."
He was right of course. We no longer cut the throats of the rich but we tax their estates to the hilt when they die, claiming the authority for doing so is rooted in redistribution of wealth principles. Inheritance Tax does not bestow optimal social security benefit entitlements on the needy, (if it did I would not object) but the reality is the poor strive on meagre benefits with workhouse diets with IHT being charged on estates.
So the redistributive aspect of IHT achieves little in practical terms.
Marxists love theoretical policies like soak the rich but analysis of practical outcomes is not their strong point.
ReplyDeleteBuchan, Powell and Dent Coad take heed. You are all at risk of being monumentally "shafted" if you mess up on this.
Please accept that the contest at the General Election is between Buchan & Powell - anyone else (including Mrs Dent ) is just a distraction. Please stop giving EDC the attention & credibility she craves so much
ReplyDeletePeople can say what they like on here.
DeleteIf you don't speak out, you'll get Coad. .
DeleteThe Dame has always insisted that we can say what we like on here. Don't let the control freakery of Dent Coad inhibit anyone from saying what they want to say about her.
DeleteIf EDC does not like what we say about her, she can always change her mind about standing then we would have no need to say anything about her - good or bad. Joe Powell is able to stand the pressures and difficulties of politics without complaining or being a moaning Minnie.
DeleteDent has no intention of "getting out of the kitchen."
DeleteShe has raised £28,000 for her election campaign and has told her donors who have given her just a fiver that she needs another £20,000 for her election war chest - making a total of £48, 000. This tax and spend socialist has no respect for other people's money.
Dent has suggested that those who have just managed to give her a fiver might like to give her another fiver - or better still, double that, a tenner.
Her sister has donated 50 quid but the absence of a donation from her high flying, high earning, children who went to Public School in order to make loads of money is, as far as I can tell, nowhere to be seen.
Dent should pay for her own ego tripping campaign by increasing her mortgage which in turn would, if not paid off on her demise, reduce the value of her estate for Inheritance Tax purposes by the amount of the debt outstanding. IHT efficient, it is.
The socialist should fund her own, narcissistic, ego trip in an Inheritance Tax efficient way.
She likes kitchens, does Emma. According to Emma, she managed her election strategy single handedly in 2017 on a table in her Kensington kitchenette.
Delete13.45. EDC is very greedy looking for another twenty grand for her "election war chest."
DeleteGive it to the needy,
Not the greedy.
Given it to the people of Gaza,
Not to a bad losing Corbynista.
She's a very greedy self indulgent woman.
DeleteEDC has an intense and selfish desire for political power.
DeleteDent Coad cares about her purse. She had never done as well financially as she did when she boarded the parliamentary gravy train with a whacking extra £12,000 top up courtesy of Kensington's Council Tax payers.
DeleteAs an MP, Dent Coad did not have to work collegiately. This suited the arrogant aristocrat very nicely. She is typical of her high social class. She erroneously believes that she does everything better than anyone else and seeks power and glory at every turn at the expense of those with real talent and ability. Starmer was having none of that. Quite right.
“We know it is painful, especially with inflation at what it is. But there really is no option other than to ask you low-paid workers to contribute a little more in tax so that Rishi Sunak and his wife, when the time comes, can pass on a bit more of their £730 million wealth to their daughters.That is, to put it bluntly what Jeremy Hunt will be telling the nation if he does what he is reported to be about to do in the Autumn Statement and cut inheritance tax (IHT). One of the suggestions is that he may halve the rate to 20 per cent. Sorry, inheritance tax is just the wrong tax to be cutting.” The Spectator
ReplyDeleteWhat nonsense. IHT tax levels have never been adjusted for inflation so it hits the mildly wealth off. But that is not the point. It is a double tax....a tax on people who have made sacrifices to amass a bit of capital. 16:59 stop your envy of hard working people
DeleteGiven the levels of child poverty and hunger in the UK it is nonsense to prioritise those who have parents with plenty of assets.
DeleteMy late partner paid Income Tax at 60% in the pound to the 1974 to1979 Labour Government. He saved hard and managed to get the £10,000 deposit required to buy a one bedroom flat in Elystan Place, Chelsea. His modest estate was subject to a shocking £72,000 IHT bill in 1997.
DeleteIs it fair that:-
He paid tax on his income at 60% whilst earning it and his estate was later subject to another 40% tax on any amount over the then threshold of £200, 000.
You don't have to be staggeringly rich to pay Inheritance Tax. The very wealthy with their many mansions and castles can create trusts of those properties which they are not living in, in order to take those properties out of the Inheritance Tax calculation. Whereas, it is middle England, with one house or one flat, who pays for everything. Properties that one lives in cannot be excluded from the IHT calculation. The Revenue gets its pound of flesh and canes the arses of those with modest wealth.
The Labour Party will soon change its view when IHT hits their red wall heartlands.
Is there any real change this will happen? It would be a ‘bold government’, one year out from a general election, to effectively cut benefits for the roughly nine million people on working-age benefits while slashing inheritance tax for a small minority.
DeleteGranted. Cutting benefits to slash IHT is not the way to go.
DeleteFewer than 4% of estates require any inheritance tax to be paid at all. So cutting Inheritance tax would be a subsidy for the already wealthiest families.
ReplyDelete18:09 what a bizarre rationale for scrapping this hated tax.
DeleteThere has been a shameful increase in the level of destitution in the UK, with a growing number of people struggling to afford to meet their most basic physical needs to stay warm, dry, clean and fed. This has deep and profound impacts on health, mental health and people’s prospects. And the Dame calls for more to go to the wealthiest in the UK.
DeletePeople have never been more sated with benefits. They have children they cannot afford and indulge in habits that force them into poverty
DeleteInstead of pretending everything is a "lifestyle choice", it’s time to find new ways to address poverty. Health inequity is a scourge on our society. Let us do our bit to help others live a long and healthy life, no matter who or where they are.
DeleteWhen I was young working people were thin, dignified and ashamed not to work. They were not seduced by crap processed food. People npw look to tge State as their saviour rather than themselves
DeleteJeremy Hunt is considering slashing inheritance tax for the richest families while threatening a real-terms cut in benefits.
ReplyDeleteIt is despicable that those on the Social are a sitting target for Jeremy Hunt to attack.
DeleteTories since Thatcher have done this.
However, voters may be interested to know that, in 1974, Keith Joseph could legitimately boast that the poor on benefits were 30% better off in real terms under the outgoing Tory Administration compared to the 1964 to 1970 Labour Government. Thatcher made sure that was a short lived eventuality.
My beef with Labour is, they never reverse these Tory Policies despite what they say in opposition. The Labour Party all through the Maggie and Major years said, it would increase the Universal Old Age Pension for everyone. When Brown and Blair got in the Pension did not go up: pensioners with no savings and inadequate incomes had to rely on means testing just as they did under the Tories. It was the 2010 Coalition Government that introduced the Triple Lock to improve the lot of pensioners.
If those on the social could work but don't want to they become not just a legitimate target but a worthy one
Delete18:11 typical socialist rubbish
Delete18.11. sounds like Coad
DeleteThe executive director of Tax Justice UK said Mr Hunt was “taking from the poor to give to the rich … The savings from this cut to benefits is about the same as the cost of the rumoured cuts to inheritance tax.” https://www.taxjustice.uk/
ReplyDeleteI am sure we all listen to rubbish org like Tax Justice UK
DeleteClassic Rishi Sunak incoming: a real cuts to benefits to cut inheritance tax (taking money now from people on the breadline to give it to inheritors of estates worth over £1m), to appease his backbenchers over a fight with the Home Secretary that he installed to appease them earlier.
DeleteTime to end the inheritance tax loopholes that benefit the already wealthy.
ReplyDeletesays some sad loser Marxist friend of Coad
DeleteOf all the taxes in the UK that Jeremy Hunt could cut, inheritance tax is easily the most stupid right now. Doing so would save millions for a few already relatively rich people, do nothing for the economy, and increase inequality.
DeleteThe threshold for Inheritance tax should of course be raised to a realistic sum taking into account inflationary pressures and the huge jump in house prices over the years. How are those who parents who managed to buy their homes as something of a legacy to give their children a leg up , supposed to make that jump if that inheritance is in effect double taxed. As Starmer is as close to Tone Blair as you can get I can't really see labour being too fussed over this.
ReplyDeleteThe Social Security claimant count for unemployed people is very low.
ReplyDeleteThe claimant count has increased for people claiming as "sick." Not all together surprising after the Covid pandemic and the various ongoing health problem affecting people.
It is only possible to draw the social by way of incapacity if the claimant furnishes a medical certificate. This means that a doctor considers these social security claimants as too ill to work.
I prefer the opinions of qualified medical practitioners about people's fitness to work instead of the opinions of any penny pinching politician.
Doctors just dish out certs to malingerers. There a load of jobs out there except the state has made it easier to clam rather than work
DeleteI trust the professional integrity of doctors to issue medical certificates to those people who are genuinely too ill to carry on their usual occupation. The comment at 13.10 is a slur on Doctors and, is nothing but convenient. As Doctors are, in all probability, more than likely to pay Inheritance Tax on their estates, it follows that the Doctor's own personal financial interests will be foremost in his contemplation before certifying a "scrounger" incapacitated.
Delete..agh...give it a rest. Non stop in the meja there are stories of bent docs including ones that do mass murder like me. Most of these scroungers have never had a 'usual occupation' apart from malingering with intent. Stop showing off your 'social conscience': we are all impressed
DeleteI have the better argument, Shipman, and I would have seen through you long before you committed mass murder.
DeleteDoctors dish out certificates to any malingerer. Many health problems are self inflicted...drinking/ eating too much. Time people got off their backsides and stopped looking for the State to mollycoddle them
ReplyDeletePatient safety is being put at risk by the “toxic” behaviour of doctors in the NHS, the health ombudsman has said.
DeleteMs Dent Coad has no chance of winning (not least because she is despised by so many on the left and will attract no support from the centre or right). I'm going to see if any bookies are offering odds on her losing her deposit, I may have a flutter.
ReplyDeleteIf a bookie gives you odds, please let the Dame know because I would like a little flutter on her being out on her ear.
DeleteEach year inheritance tax is paid by about 27,000 estates of people who have died. That means just 1 out of every 25 estates are subject to an inheritance tax charge. In other words, inheritance tax is a tax on those who are most wealthy, whether they like to admit it or not. What Jeremy Hunt is now considering is making cuts to the rate in the middle of a cost of living crisis. Those who gain are not, of course, the people who have died. Most commonly, it is their late middle age, usually already well-off, children who do so. And this, it has to be said, will do nothing for the economy at all.
ReplyDeleteAre you stupid? IHT is a tax paid twice. You Marxist just thrive on wanting to make everyone equal with you aholes in charge.
DeleteInvestment, investment, investment must be the chancellor’s mantra. Instead, he is being urged to give away billions to those least in need.
ReplyDeleteInvestment with what? Try to think. The reason hospitals and schools are short of investment is because the state has splurged so much money on public sector salaries for the useless admin classes. The pension burden we have to bear for non productive and inefficient civil servants is killing the economy.We have to support the vast costs of floods of refugees pouring over our borders. Cutting IHT is about letting people what is theirs. But a feckless Marxist doesn't get that.
DeleteWhen EDC, and other Marxists, say investment, investment, investment they mean Spend. Spend,Spend.
DeleteYes, well said. They have not a clue what investment means apart from stealing it from hard working people
DeleteVery clever 14.10. Correlating Vivienne Nicholson with "Spend, spend, spend."
DeleteShe won the Pools and "spent, spent, spent" until there was nothing left and ended up on Social Security. It is true what you say about EDC and other marxists by investment the left means "spending"
15.17: I think Emma's "mantra" is
Delete. Glory be to God for Jeremy Corbyn.
"My socialism is Corbyn's socialism."
Silly of EDC to define her socialism in terms of Corbyn's socialism. Her infatuation has led to the attachment of political strings. It is the stuff of human bondage.
DeleteWoman is born free but everywhere she is in chains.
DeletePatriarchal structures of power and dominance enslave her.
"Of human bondage." Very good, I love it. EDC's "human bondage."
DeleteW Somerset Maugham.
Cutting IHT to give away billions to those least in need would be a mistake. UK business is on its knees, investment in growing the economy is the priority.
ReplyDelete21:10 I doubt you have any skin in this game so you can F off
Delete19.09 Grow up
Delete21:58 piss off and get a job
DeleteThe Chancellor has shelved plan to cut inheritance tax in Autumn Statement
ReplyDelete