Keir Starmer

[exiledclaseboy]

Again parts of this thread are an object lesson in people swallowing everything fed to them by an irredeemably biased press, social media being run by the people with the money and power, and WhatsApp.

This is how they win. It’s terrifying really when you see what’s happening in the USA. That’s us soon if we don’t change course.

 

[Londonlisa2001]

Any one with savings gets hammered though, they want you to have savings so that they can take taxes off the interest over a grand and above I think, conveniently ignoring the fact that tax has already been paid on that money saved, they see it as new money so its open season.

I don't know the why's and wherefores, I just see things as I see them, if that makes sense.

I tried to avoid commenting because it gets us nowhere, but this is just wrong.

You aren’t taxed on savings, you are taxed on the interest on savings. No tax has previously been charged on that interest.

And you are allowed to save £12k per year tax free through an ISA. Or £20k per year if you invest in shares.

Why shouldn’t you pay tax on passive income when everyone has to on earned income?

 

[exiledclaseboy]

Why shouldn’t you pay tax on passive income when everyone has to on earned income?

And exactly the same principle applies to inheritance tax. IMO.

 

[Darran]

I tried to avoid commenting because it gets us nowhere, but this is just wrong.

You aren’t taxed on savings, you are taxed on the interest on savings. No tax has previously been charged on that interest.

And you are allowed to save £12k per year tax free through an ISA. Or £20k per year if you invest in shares.

Why shouldn’t you pay tax on passive income when everyone has to on earned income?

Max is wrong? Blimey how novel is that?

 

[Londonlisa2001]

And exactly the same principle applies to inheritance tax. IMO.

Inheritance tax is the only thing which even slightly prevents the accumulation of every single penny of the country’s wealth being concentrated in a few families, with every passing generation making it worse.

Plus, it’s bollox that it’s been taxed already. The people inheriting the money haven’t paid a penny in taxation on it. It’s a pure windfall. Plus for most, the biggest single part of the estate is the principal private residence which will have seen huge increases in value that have never been taxed. Plus the first million is free.

 

[exiledclaseboy]

Inheritance tax is the only thing which even slightly prevents the accumulation of every single penny of the country’s wealth being concentrated in a few families, with every passing generation making it worse.

Plus, it’s bollox that it’s been taxed already. The people inheriting the money haven’t paid a penny in taxation on it. It’s a pure windfall. Plus for most, the biggest single part of the estate is the principal private residence which will have seen huge increases in value that have never been taxed. Plus the first million is free.

“The people inheriting the money haven’t paid a penny in taxation on it”.

Exactly. Does my head in when people say “but tax has already been paid on it”. Not by you it hasn’t.

 

[waynekerr55]

Inheritance tax is the only thing which even slightly prevents the accumulation of every single penny of the country’s wealth being concentrated in a few families, with every passing generation making it worse.

Plus, it’s bollox that it’s been taxed already. The people inheriting the money haven’t paid a penny in taxation on it. It’s a pure windfall. Plus for most, the biggest single part of the estate is the principal private residence which will have seen huge increases in value that have never been taxed. Plus the first million is free.

One of the fûckers on my local parish council is obviously hiding his assets offshore (his company is registered in Guernsey with a correspondence address in Jersey), I see him cutting about in a Merc with Guernsey plates, but according to the lollipop lady he's going around telling everyone that he's hard up. I bet he's one of those people who complain that there's no police

 

[Cooperman]

And you are allowed to save £12k per year tax free through an ISA. Or £20k per year if you invest in shares.

The £12k limit doesn’t apply until next April.

 

[3swan]

Inheritance tax is the only thing which even slightly prevents the accumulation of every single penny of the country’s wealth being concentrated in a few families, with every passing generation making it worse.

Plus, it’s bollox that it’s been taxed already. The people inheriting the money haven’t paid a penny in taxation on it. It’s a pure windfall. Plus for most, the biggest single part of the estate is the principal private residence which will have seen huge increases in value that have never been taxed. Plus the first million is free.

I agree but with a couple of caveats
It's nearly pure windfall but the upkeep and improvements could have been made e.g. New doors and Windows, new boilers even a new roof. agree only a fraction of the gain in price depending on time of death.
And the first million is free as a couple, it's £500k per person if divorced. 325k and a further 175k if left to a direct descendant.

 

[exiledclaseboy]

I agree but with a couple of caveats
It's nearly pure windfall but the upkeep and improvements could have been made e.g. New doors and Windows, new boilers even a new roof. agree only a fraction of the gain in price depending on time of death.
And the first million is free as a couple, it's £500k per person if divorced. 325k and a further 175k if left to a direct descendant.

Don’t forget me in your will, old friend

 

[3swan]

Don’t forget me in your will, old friend

It's all sorted.

I won't declare what's in it as others might get upset



Edit

Maybe I could adopt you

 

[exiledclaseboy]

It's all sorted.

I won't declare what's in it as others might get upset



Edit

Maybe I could adopt you

Well I’ve been an orphan for years and I’d be happy to call you dad

 

[3swan]

Well I’ve been an orphan for years and I’d be happy to call you dad

Brought a lump to my throat

 

[jack_lord]

what is worse is that many of them scoff at the Americans

Again parts of this thread are an object lesson in people swallowing everything fed to them by an irredeemably biased press, social media being run by the people with the money and power, and WhatsApp.

This is how they win. It’s terrifying really when you see what’s happening in the USA. That’s us soon if we don’t change course

 

[exiledclaseboy]

what is worse is that many of them scoff at the Americans

Yup. Thick as mince they are. Either that or cognitive dissonance.