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

[pixie374]

Not all. Maybe 80%. I don't honestly see any reason why relatives should benefit most ... except that person might want them to.
I'm surprised that's your view, tbh, ttt?

[dannyk13]

Definitely not a good idea.

[pixie374]

I apologise... you did an unbiased OP x

[naomi24]

Nothing to discuss. No.

[ToraToraTora]

Pixie, the point is, what if inheritance ended? This is not about government funding.

[-SharonA-]

No way! Before I die, I'm spending every penny.

[ToraToraTora]

I see straight away reflex thought overpowers actual thought. Think about it.

[naomi24]

I’ve thought about it. No.

[ToraToraTora]

sharon: "No way! Before I die, I'm spending every penny. " - indeed.....keep thinking......I know it's tough....we are in uncharted areas......

[geevo41]

There are two kinds of money - private money and public money. Private money, owned by individuals and businesses, is used for all sorts of reasons to maintain the requirements of life. Public money is mostly thrown down the toilet, so transferring money from private use to public use is not a good idea.

[pixie374]

I'm unsure ttt. In a way, Inheritance is automatically unfair, it means rich families remain rich (above what they could ever physically need), while we still struggle with NHS, homelessness, disparity...
However, people who work hard, also often have a motivation, to look after their families, etc, which shouldn't be discouraged, either.

My dad died in France. And there, they have to give a certain percentage to blood children. Which makes some sense. But also, depends on the amount of money involved.
No individual needs billions.

[ToraToraTora]

I still see a struggle, going on here, I hate to use the management BS phrase, but think outside the box. How would it Affect society if we were all motivated to make sure we were skint when we died?

[jno]

it would all end up in Grand Cayman anyway, I fear. But I'd have no objection to the idea. I'm free to give everything I own to jno jnr while I'm alive; any parent could do the same.

[ToraToraTora]

geev01: "There are two kinds of money - private money and public money. " -err no there is no such thing as public money, it all comes from the private sector.

[ToraToraTora]

jno: "I'm free to give everything I own to jno jnr while I'm alive; any parent could do the same. " - yep that's another effect along with Sharon above I think we are starting to see reason emerge from the outrage, keep going......

[ToraToraTora]

I have to go out now, I'll look in when I come back.

[bobbinwales]

I can see where your coming from but its not enforceable for the richest and anyone else who wants to will find ways round it. Transfer ownership, give away or put in trust ect. Lot's of moolah for tax avoidance advisers accountant's and solicitors

[pixie374]

//How would it Affect society if we were all motivated to make sure we were skint when we died?//

It is, to a large degree. We have benefits, safety nets etc. But that all goes back into the economy. All money, comes from.somewhere.

The problem we have, with not wanting people to spend theirs... is it means that others are paying for hospitals, social care and so on.
Money is always swings and roundabouts. Demand and supply.
It's all a bit hit and miss at the moment. But in my view, if someone can afford to pay for themselves, they should... without their children believing it's actually theirs.

[naomi24]

If we made sure we were skint before we die how should we time it, TTT? At what age should we aim to be skint - and could we depend upon welfare payments should we get it wrong?

[geevo41]

No, when private money is taxed it then becomes public money, to be used by the government, mostly in a profligate way. You missed the whole point of my argument.