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It's for the Kiddies (tm)

BBC NEWS | UK | 'Tax super-rich at 50%' proposal

The super-rich should be hit with a 50% inheritance tax to allow cuts for the middle classes, a think tank has said.
The Institute for Public Policy Research (IPPR) said the chancellor could raise 147m a year and cut death duty for up to 90% of people.
It said estates of more than 808,000 could be taxed under a banded system.
The left of centre organisation said Gordon Brown should use the extra cash to help Britain's poorest youngsters through the Child Trust Fund.

You load sixteen tons, and what do you get?
Another day older and deeper in debt
St. Peter don't you call me, 'cause I can't go
I owe my soul to the company store Government

Where do you start on prats like this? How can you reason with a mindset that believes it is the Governments job to provide for the "kiddies" rather than the parents job?

Comments

Of course it's for the kiddies! Don't you realise that Nanny State alway's know what's best for us? That's why it is decent, nay civilised, for it to think up new ways to steal our money, to punish our initiatives, to encourage us to look into the eyes of the Dear leader and realise Tony and his cronies always know best!!

You know, these pronouncements should be a gift horse to the Conservatives but I hardly hear a cheep. Have they given up???

"Where do you start on prats like this?"

On the extremities, with a butane torch...

Of course, like stamp duty, eventually most people will fall into the higher 50% bracket and then it will take another 50 years for the government to increase the super-rich bracket.

Thieves. No more, no less.

Regardless of the rates, I find inheritance tax an absolutely sickening concept. You can't even leave things to your loved ones after you die without the government demanding a slice.

It is of constant amazement to me (still!) that the assumption is that the government should have first dibs on your money at whatever stage of your earnings cycle.
You make your money, the government takes.
You spend your money, the government takes.
You save your money, the government takes.
You invest your money, the government takes.
And finally when you die, you bequeath your money and the government takes.
It is a fact that the government retains ownership of wealth and allows us to keep it warm for a while - under sufferance.

From each according to his ability...

I like the BBC's definition of super-rich as anyone leaving an estate of over 808,000 pounds. That's going to include a lot of people such as myself who've seen the value of their houses increase over the last 20 or so years. I certainly don't feel "super-rich" - I always thought that was more of a tag for the likes of Paul McCartney and Bernie Ecclestone (although, they, of course, won't be paying any IHT - they've got accountants and family trusts to sort that out). The people bearing the brunt of this viscious new tax rate will, of course, be the middle classes.

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