Oh Look

Quote from Stew 65

https://www.frontpages.com/the-times/

Now the Chancellor is considering NI and income tax cuts!

There must be an election on the horizon.

As I said in another post these actions will stimulate the economy, help those struggling and make what is a despised government a little more popular.

Inheritance tax cuts would definitely hurt their chances of any win in said election as it doesn't benefit enough of the electorate.

Now to find those hidden listening devices Jeremy Hunt has placed in my home.

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The type of cuts he has in mind won’t make any real difference. Clearly paying less tax is generally a good thing but we are carrying a lot of debt and the associated interest payments wipe away a lot of the tax take. However, the taxes that are designed as lifestyle nudges such as fuel duty, alcohol and tobacco duty and green levies on energy bills should be removed entirely.

The best way to boost the economy is to raise the income tax threshold.

Everyone benefits but lower paid workers the most

These people don’t save much so all their cash goes straight back into the economy

It also makes low paid work more financially attractive when we’re trying to wean people off benefits

As Hunt has said himself, the government needs to be careful with any tax cuts that inflation doesn't rise again. If inflation does go up again, then all the efforts to lower prices would've been wasted.

Quote from Stew 65

They need to be careful with any tax cuts!

Then why cut inheretance tax at all?

Oh yeh, it panders to their voter base.

What a load of Bollocks that is the problem those of the left filled with hatred and Envy it mars their reasoning, its a case of that person over there has more than I have take it off them and give it to me.

The French about 10 years ago or more brought in a very high punitive rate of Income Tax for high earners, within weeks the high earners, business owners , innovators etc, pulled out of France and took their money and businesses with them, the French Government soon brought the tax rate down to a sensible level.

I remember Labour when Harold Wilson was PM he did something similar , the high earners left in droves , even the Beatles moved their money out as they were being taxed so much.

A less punitive tax on workers incomes is actually the best policy IMO , why work harder to earn more and be taxed more, lower income tax means workers can keep more of what they earn and have disposable income which they can either save or spend which boosts our economy , it also reduces tax evasion.

The last Labour Government taxed and spent so much when voted out they left the Treasury Coffers empty they had spent and wasted so much of our taxes, that is why we had the years of austerity, which they moaned about week in week out.

We are trying to recover from Covid and the damage to our economy and what are the far left doing ? striking which damages our economy even more.

Quote from Fred

remember Labour when Harold Wilson was PM he did something similar , the high earners left in droves , even the Beatles moved their money out as they were being taxed so much.

98% if I recall correctly.

Quote from Stew 65

In Horizons post she says Hunt is wary of tax cuts

H is a she?

I had never considered that possibility.

Quote from Armitage Shanks

98% if I recall correctly.

I think you are right

Quote from Fred

I think you are right

He is, and by the way, the Rolling Stones went to live in France for the very same reason.

Labour doesn't learn through experience.

Quote from Stew 65

They need to be careful with any tax cuts!

Then why cut inheretance tax at all?

Oh yeh, it panders to their voter base.

Even though only 4% of estates pay any

Quote from Truebrit

Even though only 4% of estates pay any

Inheritance tax is an obscenity.

The socialists seem to think that in the name of equality all counters need to be reset to zero for each generation and acquired wealth and assets at the point of death should be forfeited.

Clearly the politics of envy in operation on this subject. The entire concept of “unearned wealth” is a raw spot with leftists who struggle with the idea of personal property and the ability to enjoy the fruits of your labours.

Just look at any socialist state and you will see widespread poverty and no middle class. There is an elite ruling class that never offers democracy or gives up power but for some strange reason the lefties seem to be fine with that as long as everybody has the same outcome in life. What incentive can there be to self improve if every time you get somewhere the state just takes it all away from you?

Quote from Armitage Shanks

Inheritance tax is an obscenity.

The socialists seem to think that in the name of equality all counters need to be reset to zero for each generation and acquired wealth and assets at the point of death should be forfeited.

Clearly the politics of envy in operation on this subject. The entire concept of “unearned wealth” is a raw spot with leftists who struggle with the idea of personal property and the ability to enjoy the fruits of your labours.

Just look at any socialist state and you will see widespread poverty and no middle class. There is an elite ruling class that never offers democracy or gives up power but for some strange reason the lefties seem to be fine with that as long as everybody has the same outcome in life. What incentive can there be to self improve if every time you get somewhere the state just takes it all away from you?

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Meanwhile in the real world the government has raise money

In effect as a couple you can leave £650,000 before any tax is paid hence only 4% of estates pay any .

All this BS about leftie this & that , you read too many rightie websites

A government needs to raise tax & inheritance is one of the ways it has been done for many years

As for the self improvement my brother is looking to sell his business which he has built up over the last 15 years

If it all comes together he will pocket around £800,000 tax free , there’s a benefit for someone who worked hard to create something

Inheritance tax is affordable for the wealthy people who have to pay it

Quote from Fred

The last Labour Government taxed and spent so much when voted out they left the Treasury Coffers empty they had spent and wasted so much of our taxes, that is why we had the years of austerity, which they moaned about week in week out.

Not true , your conveniently forgetting the banking crisis

Quote from Truebrit

Meanwhile in the real world the government has raise money

In effect as a couple you can leave £650,000 before any tax is paid hence only 4% of estates pay any .

All this BS about leftie this & that , you read too many rightie websites

A government needs to raise tax & inheritance is one of the ways it has been done for many years

As for the self improvement my brother is looking to sell his business which he has built up over the last 15 years

If it all comes together he will pocket around £800,000 tax free , there’s a benefit for someone who worked hard to create something

Inheritance tax is affordable for the wealthy people who have to pay it

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You are missing the point TB.

Quote from Armitage Shanks

You are missing the point TB.

I don’t think so

Quote from Truebrit

I don’t think so

Inheritance is a gift.

Quote from Truebrit

Not true , your conveniently forgetting the banking crisis

Wrong I remember it well, Brown was warned what was liable to happen and did nothing