Stamp Duty

[Mr Kobayashi]

Stamp duty is not as abhorrent as Death (inheritance) tax, why the fuck any should have to pay tax for dying is beyond me, all that they bought etc has already had tax paid on it, I don’t care if your rich or poor, no one should pay tax on dying.

You don't, your beneficiaries do.

Also, as it stands your beneficiaries won't be paying much inheritance tax if any.

 

[Vic]

This government doesn’t care what we think. That’s been obvious for years.

What metric would you use to suggest whether the public are angry or not?

50% poll for Labour would say a lot.

 

[Vic]

Stamp duty is not as abhorrent as Death (inheritance) tax, why the fuck any should have to pay tax for dying is beyond me, all that they bought etc has already had tax paid on it, I don’t care if your rich or poor, no one should pay tax on dying.

Why is inherited wealth a good thing?

 

[Blue Maverick]

Why is inherited wealth a good thing?

Why isn’t it, if someone works hard to provide for their family and pay their taxes to do that, why tax again?

 

[Kompany Car]

Stamp duty is not as abhorrent as Death (inheritance) tax, why the fuck any should have to pay tax for dying is beyond me, all that they bought etc has already had tax paid on it, I don’t care if your rich or poor, no one should pay tax on dying.

Under current rules the threshold is effectively £1m.

https://www.which.co.uk/money/tax/inheritance-tax/inheritance-tax-property-changes-aSr774L6FUfp

People with net worths more than this are likely to have tax efficient arrangements in place to limit their children’s liability.

If you want to avoid stamp duty, register a business in a tax haven, use that business to purchase the property and then rent the property from the company.

 

[Blue Maverick]

Under current rules the threshold is effectively £1m.

https://www.which.co.uk/money/tax/inheritance-tax/inheritance-tax-property-changes-aSr774L6FUfp

People with net worths more than this are likely to have tax efficient arrangements in place to limit their children’s liability.

If you want to avoid stamp duty, register a business in a tax haven, use that business to purchase the property and then rent the property from the company.

I hope they do, I just think taxing people all their lives and then at the end is disgusting, whether you have a £1 or a billion.

 

[inbetween]

Why is inherited wealth a good thing?

Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?

Money is earnt, tax is paid, things are bought with what remains, why is that still not enough? Is it the amount of tax paid that is the problem or is it the fault of the state and its mismanagement of the tax that has been paid?

 

[BobKowalski]

Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?

Money is earnt, tax is paid, things are bought with what remains, why is that still not enough? Is it the amount of tax paid that is the problem or is it the fault of the state and its mismanagement of the tax that has been paid?

It circulates money back into the system. Untaxed inherited wealth stagnates the system. If one person inherits a billion quid then it largely justs sits there doing nothing. If you taxed that at 50% and gave everyone a £100 Christmas tax rebate then that portion of the half billion would get circulated into the economy.

Furthermore, you are not ‘stealing’ it from the person who made the billion. You are taxing the people who get to inherit the billion for basically doing fuck all. And they still get half a billion.

In short, too much wealth concentrated in too few hands is bad economic practice. It is also the premise of every dystopian work of fiction.

 

[Mr Kobayashi]

Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?

I wouldn't have thought Peter Thiel posted on here.

 

[Mr Kobayashi]

In short, too much wealth concentrated in too few hands is bad economic practice. It is also the premise of every dystopian work of fiction.

Pretty much. We are saving the rich and their children from themselves.

Rich, cosetted people invariably become entitled and lazy and waste whatever talents or intellect they possess. They become more insular, more inbred and less curious about the world outside their bubble.