O K - Im Putting This Out There.........

[ToraToraTora]

I'm not backing it I'm not saying it's a good idea. All I'm doing is trying to find out from you what the issues are.
100% inheritance tax......no allowance.....when someone dies the government gets the lot.... discuss

[ToraToraTora]

well some interesting points and ideas, thanks for those who were intellectually able to consider the question as the intended thought experiment that it is. BA to Barmaid who I think was pretty insightful into some of the issues. It's not a suggestion as originally stated. Like all thought experiments it is intended to take thought in a direction that yields insight by exploring extremities.

[New Judge]

//Depends what the limits are, Andres. The majority would get nowhere near them.//

I believe the proposal is 100%, pixie. Everything you have when you die goes to the State. No allowances, no percentages, nothing.

[zylaphone]

So true Andres

[pixie374]

I know, nj and personally, I think that's too far. But, I was offering different percentages, because, I don't believe everyone necessarily cares about anyone other than their own.

[david small]

We paid over a million pounds in inheritance tax. It hurt, I can promise you. To see government squandering, what could of helped my kids escape exorbitant rental costs, galls somewhat.

[bobbinwales]

If you paid £ 1m inheritance tax the estate must if been somewhere around £3 million though Davidsmall so that leave's £2 MILLION which is surely going to help your family scrape by.

[New Judge]

Depends how many people inherited, bob.

The galling feature of IT is that it is a tax on money that has already been taxed and on assets that have been bought with taxed income. There is simply no justification for it at all. It is simply confiscation and little different to a tax on wealth.

[naomi24]

I don’t know where pixie gets the idea that the money would be used to support the less wealthy.

Bobbin, If David’s family are comfortably off I imagine it’s money worked for. There’s no good reason they should end up having to ‘scrape by’.

[archibaldy]

Got a touch of the old communism about it this idea.. Maybe I'd find it more palatable if there was the option to either give to charity or to our dear leaders. I'd assume a lot of charities etc. keep going from bequeathals.

[naomi24]

Take away the ultimate benefit and there’s no incentive. It’s a crazy idea.

[david small]

New judge as usual is correct. The solicitor charged a percentage, £27,000 nice days work. The division of the estate after tax was divided unequally amongst fifteen.
Mostly in ridiculous unproductive trust funds. The so called financial advisor paid off his mortgage with the commission. Tax had already been paid on all monies so it was twice taxed.

[mibn2cweus]

100% inheritance tax?
Over my dead body!

[webbo3]

Can't you just put it in a trust fund.

[1ozzy]

100% inheritance tax?
People will gift before they die.
Why the *** would anyone with at least half a working brain leave their fortune to the government to waste.

Jeez Tora, this must be one of your most stunning questions .

[emmie]

he isn't backing it, merely getting feedback from ABers.

[emmie]

though i agree, the government would just waste it.

[1ozzy]

Well, he's got mine.
LOL!!

[emmie]

and mine, it's a potty idea...

[1ozzy]

Not the first potty idea either
Hopefully there will be many more;-)

Answerbank needs clicks to survive.

[mibn2cweus]

//O K - Im Putting This Out There.........//
Made me look.