Blair vs Maggy

5 billion raid on pension funds ? Sorry but tax as a whole has increased under new labour, call it NI, duty or whatever it's up. Was nearly inheritence tax until they stole the tories proposed policy.</p>

I do agree with you about the targetting of tax not being laid at the doors of the super rich (phillip green) and the 'use' of non residency provisions to avoid tax.</p>

As IOWtyke said it's good to have a debate without the name calling........ er....**** !! </p>

</p>

 

The level of education at 18 - maybe I was just a bright lad, maybe those around me were bright too, I don't know, I thought we were just fairly average, but when I was 18 I had a far greater depth and breadth of knowledge than the students I see coming to a good (top 50 in the World) university nowadays.

 

I'm also on shakey ground with the first steps to inclusion policy, but I do recall that people could be expelled when I was at school and teachers could raise their voice at you. The incusion policy (whoever introduced it) was originally designed to ensure that people that were socially excluded because of a physical handicap but could cope with mainstream education, should do exactly that. And rightly so. But it now means you can set fire to your teacher for a laugh, because you're a bit mental.

 

But if you are going to increase public spending you have to increase taxation from somewhere. May be on my own here but I'm a strong believer in inheritance tax - it rights inequalitites in the financial system and means tax on low wages can be kept to a minimum.

Yeah, can't beat a good political debate in the right place - on a ....erm .....football forum!

 

Definately don't agree with inclusion, it makes teacher's lives really difficult as they end up giving all their time to a pupil who needs specialist care at the detriment of the rest of the class. Your way of putting it is far better though!

 

So

...because someone puts their money into bricks and mortar rather than pissing it against a wall then they should pay tax on any increase in value ? even Cap gains tax exempts primary residence. IHT was not designed to include the family home.</p>

Example of 'back door' taxation</p>

In 1981 if you were sick the state gave you a giro. Then SSP was introduced which initially was full refunded to the employer. This was gradually phased out so that the burden for funding sickness benefit was moved from the state to employers. Don't see any government of any colourshouting this policy from the roof tops.</p>

 

The tax simply claws back some of the disproportionate amount of money it has increased by due to the country having a strong economy. And the 40% only kicks in at £300,000 and is only on the money it is worth OVER that £300,000. That money can then be fed back into society as a whole not just to those whose lucky enough to have property owning parents. otherwise it is just another financial leg up to those from good financial backgrounds. AND we should be encouraging the aeging members of society to spend their money and enjoy retirement and not save it for their children

 

Strong economy ? Shortage of housing stock in decent areas more like.</p>

Me and my wife came from poor backgrounds, but we've done alright and would like to pass something on to our kids. I pay my taxes whilst I'm alive.</p>

Tell you what I'll blow mymoney sell my house and become state dependent, I'll buy foreign imports and along with the retired people who at the moment are saversthat's it balance of payments ANDinflation fecked in one action !!!</p>

 

But assuming your house is worth say £400,000 then only £40,000 would go to the government and say you had 2 kids then they would each recieve £230,000 tax free which is a hugely substantial figure. Even if your house was £300,001 (just over the threshold) they would each recieve £150,000.30

 

the change in the legislation somewhat obviates this discussion as the nil rate band of one spouseis transferred from one spouse to the survivour on the first death thus effectively increasing the nil rate band to &pound;600k. This was only done after the tories said their policy would be &pound;1m.</p>

Say an old lady lives in a house down south lives with her daughter. Daughter has looked after Mum full time for the last say 10 years after Mum had a stroke.</p>

Mum and Dad(dec'd) bought the house in say 1950s for &pound;10k (it's a nice house) now worth say &pound;600k. Mum aged 90 dies leaving jobless daughter aged 60 to find &pound;120,000 IHT... options ? sell her home of the last 40 years ?</p>

</p>

Is that fair ?</p>

This will become more common place in today's ageing society with increased house prices.</p>

 

Personally I think it is fair and she will comfortably be able to buy another expensive house mortgage free that she hasn't earnt and that her mum only gained because of a prosperous economy (and demand outstripping supply) meaning house prices have risen obscenely. Meanwhile this contribution will mean that taxation on other people has not had to rise as high whilst still allowing investment in the education, health and welfare system that has tended to both the mother and daughter.

...but then again I'm an idealistic socialist and no-one with those views get near power!!!

 

but she's having to leave her HOME only because IHT threasholds have kept pace with house price inflation !!!</p>

Also don't think you have addressed my previous post</p>

'Tell you what I'll blow mymoney sell my house and become state dependent, I'll buy foreign imports and along with the retired people who at the moment are saversthat's it balance of payments ANDinflation fecked in one action !!!'</p>

 

But its not a home she has paid for and this is the inequalities in the system.

Other point - most people do retire when they've paid off their mortgage and consequently stop paying tax (except council tax). I keep telling my parents to sell their house when they retire, downsize and use the profit to travel, eat out whatever they want. At the end of the day its their money not mine so they should enjoy it. i just think its really sad when someone dies and they have tons of money stashed away yet they've lived out their days staring out of the window

 

errr stop paying tax ? The ones who've been thrifty and save through pensions etc still pay tax... little old ladies with a state pension and a small residual private pension scheme. Say on 12K a year.</p>

Ever thought that it may give your parents pleasure thinking they will give you a leg up in the world ?</p>

Also Balance of payments, inflation, state dependant ? any comments ?</p>

 

Cnt.

 

Definately, and think its a very good thing, but it i still think anything up to £300,000 tax free is an excellent leg up.

As for inflation its a touchy subject that i don't want to tackle as a public sector worker as my pay rise will be 1.9% if Gordon Brown gets his way!!

Plus, only my humble opinion which I obviously think is right but thats the beauty of opinions eh!

 

Right I'm outta here !!!

take care.... it's been interesting !!!</p>

Tha still wrong though (lol) !!!!</p>

 

You too!

great quote to use if someone ever questions you viewpoint - "As I get older my opinions may change but not the fact that I am right" - on my wall next to my desk - brilliant

 

ditto

Can't wait for the party.

Though the subsequent media frenzy will be sickening.