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Gordon Brown the man who robbed your old age

#3
This guy brown is a fecking tw*t! He is the devil in disguise! He eats babies!

The amount of borrowing he has incurred to fund his careless spending is phenomenal. We and our children will spend our lifetimes sorting out the debt of this government.

He has spent billions on public services with no improvement!
He has given billions to immigrants and unemployables.
He has raided the hard earned pension funds of tens of thousands of working Brits.
He has raised taxes to an all time high and made millions more dependant on the state.
He has made businesses in this country uncompetitive so we are no at the mercy of the chinese/indian manufacturing industry.
He has allowed house prices to rise faster and more than any other chancellor so our children cannot afford to buy a semi-decent first home without inherited cash.
He has not raised the tax-free allowance since 1997 (another tax rise)
Inheritance tax................don't get me started.

He is a criminal who is utterly ruthless. Meanwhile he has allowed ministers pensions to rise astronomically. Their pensions are 10 times better than forces pensions and we don't see many politicians getting blown up in Stan/Iraq.

He is also very ugly. I am Scottish and he is no longer welcome north of the border.

Apart from that I wish him well

Bah!
 
#4
LtTrousersnake said:
This guy brown is a fecking tw*t! He is the devil in disguise! He eats babies!

The amount of borrowing he has incurred to fund his careless spending is phenomenal. We and our children will spend our lifetimes sorting out the debt of this government.

He has spent billions on public services with no improvement!
He has given billions to immigrants and unemployables.
He has raided the hard earned pension funds of tens of thousands of working Brits.
He has raised taxes to an all time high and made millions more dependant on the state.
He has made businesses in this country uncompetitive so we are no at the mercy of the chinese/indian manufacturing industry.
He has allowed house prices to rise faster and more than any other chancellor so our children cannot afford to buy a semi-decent first home without inherited cash.
He has not raised the tax-free allowance since 1997 (another tax rise)
Inheritance tax................don't get me started.

He is a criminal who is utterly ruthless. Meanwhile he has allowed ministers pensions to rise astronomically. Their pensions are 10 times better than forces pensions and we don't see many politicians getting blown up in Stan/Iraq.

He is also very ugly. I am Scottish and he is no longer welcome north of the border.

Apart from that I wish him well

Bah!
Much as I also hate the cunt I will have to disagree with you here.

Your arguments are not consistent.

He has raised personal allowances.

He has little control over house prices and you complain of the impossibility of buying a house without inherited money.

Both are problems but how does this square with your objection to inheritance tax? There is little better way of levelling the playing field when it comes to inherited money. The only better way of controlling this (and simultaneously house price inflation) is to levy capital gains tax on the principal residence.

Most people who have an objection to inheritance tax come out with something like "why should I be taxed twice? I already paid tax when I earned it". This rather overlooks the fact that (a) you are dead and so cannot really be said to paying the tax and (b) you have not already paid tax on it, as most of your estate will likely be your house, most of the value of which isdue to inflation; it is unlikely that your taxed income paid for more than a fraction of it. Furthermore, which other source of income (from the perspective of your beneficiaries) allows you to earn £280,000 or whatever it is now tax-free before hitting the 40% bracket, and why should this unearned income (from the perspective of your beneficiaries) be so generoulsy treated? I.e. why should I get hammered on the money I earn from my own graft while those are lucky enough to have affluent parents be entitled to unearned income at such a low tax rate? Hardly an incentive to graft or meritocratic is it?

Which brings us back to the difficulty of buying a house without an inheritance.

Yet you want a tax system that favours those who do inherit over those who have to work for it themselves - ?
 
#5
clownbasher said:
LtTrousersnake said:
This guy brown is a fecking tw*t! He is the devil in disguise! He eats babies!

The amount of borrowing he has incurred to fund his careless spending is phenomenal. We and our children will spend our lifetimes sorting out the debt of this government.

He has spent billions on public services with no improvement!
He has given billions to immigrants and unemployables.
He has raided the hard earned pension funds of tens of thousands of working Brits.
He has raised taxes to an all time high and made millions more dependant on the state.
He has made businesses in this country uncompetitive so we are no at the mercy of the chinese/indian manufacturing industry.
He has allowed house prices to rise faster and more than any other chancellor so our children cannot afford to buy a semi-decent first home without inherited cash.
He has not raised the tax-free allowance since 1997 (another tax rise)
Inheritance tax................don't get me started.

He is a criminal who is utterly ruthless. Meanwhile he has allowed ministers pensions to rise astronomically. Their pensions are 10 times better than forces pensions and we don't see many politicians getting blown up in Stan/Iraq.

He is also very ugly. I am Scottish and he is no longer welcome north of the border.

Apart from that I wish him well

Bah!
Much as I also hate the cunt I will have to disagree with you here.

Your arguments are not consistent.

He has raised personal allowances.

He has little control over house prices and you complain of the impossibility of buying a house without inherited money.

Both are problems but how does this square with your objection to inheritance tax? There is little better way of levelling the playing field when it comes to inherited money. The only better way of controlling this (and simultaneously house price inflation) is to levy capital gains tax on the principal residence.

Most people who have an objection to inheritance tax come out with something like "why should I be taxed twice? I already paid tax when I earned it". This rather overlooks the fact that (a) you are dead and so cannot really be said to paying the tax and (b) you have not already paid tax on it, as most of your estate will likely be your house, most of the value of which isdue to inflation; it is unlikely that your taxed income paid for more than a fraction of it. Furthermore, which other source of income (from the perspective of your beneficiaries) allows you to earn £280,000 or whatever it is now tax-free before hitting the 40% bracket, and why should this unearned income (from the perspective of your beneficiaries) be so generoulsy treated? I.e. why should I get hammered on the money I earn from my own graft while those are lucky enough to have affluent parents be entitled to unearned income at such a low tax rate? Hardly an incentive to graft or meritocratic is it?

Which brings us back to the difficulty of buying a house without an inheritance.

Yet you want a tax system that favours those who do inherit over those who have to work for it themselves - ?
So when are you due to pay your renewal to the labour party club?

Most inherited wealth now comes from generations who have bought their properties and passed it on to the next generation, mainly starting in the post war years, this has slowly generated a new wealth in brown and blue collar workers (not that I like this term), this obviously scares the sh£t out of the politicos, that the common man may have some money and independence from Westminster. Inheritance tax has not been kept in line with the actual growth of the underlying capital wealth of the average man/woman and is now used to tax those who have bought and saved (encouraged by prev govs). Now there are ways around it, gifts over a period of years, trust fund etc (this is not just for the financial elite now), but many people do not think or act this way are now penalised for this.

People reading this who think they are too young for this to matter, bare in mind your parents hard earned house and savings, god forbid they should die tmw will be liable to almost 30% going to the government for the honor of dying, and you have to cough up the tax first, before getting your hands on the capital left, ok you can get a loan/bridging loan, this accrues interest which yes you guessed it attracts interest and tax(again), so thank you Mr Brown for taxing us even more in death.

Rant Over
 
#6
LtTrousersnake said:
He has allowed house prices to rise faster and more than any other chancellor so our children cannot afford to buy a semi-decent first home without inherited cash.
I can't afford a house now!
 
#7
clownbasher said:
He has raised personal allowances.
That's true but he cunningly raises them by less than inflation. This so-called 'fiscal drag' is a very nice little earner indeed.

clownbasher said:
There is little better way of levelling the playing field when it comes to inherited money.
The real problems occur when you choose to live with someone that you are not married to, as one of my friends found out when her partner was killed in a road accident. She lost her home as well as her partner.

Inheritance tax is an obscenity worthy of medieval robber barons.
 
#8
Inheritance tax was originally designed for only the very richest of society. Over the years the threshold hasn't been adjusted for inflation, so that we now have a state of affairs in which more and more people fall foul of it.

Decent, hard-working, comfortably-off people (who have earned every penny of their assets through their own labours) are now not allowed to pass it all on to their offspring because they exceed the ridiculously low threshold for Inheritance Tax.

More free money for Gordon. Makes the blood boil, it really does. We're talking about a terraced cottage in the Pennines here, not a country seat with dozens of acres.
 
#9
Not only is the greedy, dour faced, humourless tw@t after levying 40% on any estate above £285.000 (lets not forget that this will soon be the average house price soon!!!!; taxed initially on your capital to buy it, taxed at 3% stamp duty for purchasing it, and then your dependants are taxed again when you peg it), he was also responsible for this dispicable money grab.

Brown in second climbdown over trusts

By Graeme Wilson, Political Correspondent
Last Updated: 1:23am BST 10/06/2006



Gordon Brown performed his second climbdown in just 24 hours yesterday by rewriting new laws that would have hit trusts held by disabled people.

The Treasury said the changes meant disabled people would be exempt from proposals that would have slapped a new 20 per cent inheritance tax on gifts paid into their trusts

Officials insisted the exemptions would also apply to people with degenerative diseases, including Alzheimers, though their claims were disputed last night by the Conservatives.

The changes are the latest amendments to Labour's contentious plans to mount a tax raid on trusts that people set up for their spouses or children.

Critics had claimed the plans would have forced millions of families to rewrite their wills and in recent weeks, lawyers and accountants have urged the Chancellor to think again.

The Treasury claimed only a few hundred thousand people would be affected by the changes, but opponents said millions of people would be forced to review their wills and life insurance policies.

Mr Brown finally caved in on Thursday and slipped out a series of amendments.

Another batch of amendments was published yesterday, including one which exempted disabled people from the new charges.
 
#10
I read that he's had over 100 BILLION quid out of our pension funds since he started taxing them when labour were elected. Strangely enough, that's about the same amount as the total deficit that FTSE 100 companies have in their pension funds.

I'm told that having soaked the middle classes, the North Sea oil industry and our pensions, he now has his eye on the City of London to plug the gap in the public finances. The City have raised two fingers and advised him that they will relocate abroad if he pushes his luck.
 
#11
Why is it that those of us who work hard are hammered by the tax system of this government , the same government who gives so much to those who have no intention of working and have never contributed a penny to the system.
 
#15
The British middle classes are leaving in droves! Most people now see through Gordon Brown and despite his best stealthiest moves, the plebs are beginning to open their eyes.

Gordon Brown is not the devil, he is the man sat on the devil's shoulder telling him to be naughty!
 
#17
leveller said:
So when are you due to pay your renewal to the labour party club?
I've never voted Labour in my life.

leveller said:
this obviously scares the sh£t out of the politicos, that the common man may have some money and independence from Westminster.?
This bit is silly


leveller said:
Inheritance tax has not been kept in line with the actual growth of the underlying capital wealth of the average man/woman...?
This bit is right.

leveller said:
bare in mind your parents hard earned house and savings, god forbid they should die tmw will be liable to almost 30% going to the government for the honor of dying...
This bit is bollocks.

No they won't. There will be a liability of 40% on everything over £285,000. This means on an estate of £500,000, there will be tax due of 0.4x(500,000-285,000) = £86,000. This means an overall rate of 86,000/500,000 = 17.2%. You get to keep £414,000.

This is remarkably little. It compares with taxes on INCOME (i.e. money you have to work for yourself rather than be lucky to inherit) of 22-40%.

Why should work be penalised compared to good fortune?
 
#18
Ancient_Mariner said:
The real problems occur when you choose to live with someone that you are not married to, as one of my friends found out when her partner was killed in a road accident. She lost her home as well as her partner.
This is more to do with their marital status than inheritance tax. It can only apply to marriages (or civil partnerships now) or it wouldn't work at all, would it?

You can hardly blame the state for them not being married.
 
#19
Lucky_Jim said:
Decent, hard-working, comfortably-off people (who have earned every penny of their assets through their own labours)
No they haven't. They have "earned" it (i.e. they haven't) through house price inflation.

The proportion of people who have made capital repayments on their home of more than £285,000 from earned income, or have saved that amount, is tiny.
 
#20
clownbasher said:
leveller said:
So when are you due to pay your renewal to the labour party club?
I've never voted Labour in my life.

leveller said:
this obviously scares the sh£t out of the politicos, that the common man may have some money and independence from Westminster.?
This bit is silly


leveller said:
Inheritance tax has not been kept in line with the actual growth of the underlying capital wealth of the average man/woman...?
This bit is right.

leveller said:
bare in mind your parents hard earned house and savings, god forbid they should die tmw will be liable to almost 30% going to the government for the honor of dying...
This bit is bollocks.

No they won't. There will be a liability of 40% on everything over £285,000. This means on an estate of £500,000, there will be tax due of 0.4x(500,000-285,000) = £86,000. This means an overall rate of 86,000/500,000 = 17.2%. You get to keep £414,000.

This is remarkably little. It compares with taxes on INCOME (i.e. money you have to work for yourself rather than be lucky to inherit) of 22-40%.

Why should work be penalised compared to good fortune?
But please explain WHY the government should get this 40% exactly?
 

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