Taxed to death.....hmmm....I know, death tax!

[DimPrawn]

http://www.guardian.co.uk/politics/2...al-care-policy

Radical proposals for a £20,000 compulsory inheritance levy to help pay for Gordon Brown's social care plans may be endorsed by the government before the general election.


So every person who dies has to pay to the government a compulsory £20K "levy" (it's not another tax honest!)?


New Labour - Taking cash from your cold dead fingers.

[TimberWolf]

This will just encourage people not to save, apart from a hidden stash of gold bullion.

[AtW]

This will just encourage people not to save, apart from a hidden stash of gold bullion.

Surely if you have a gold bullion then you've saved?

[DimPrawn]

Surely if you have a gold bullion then you've saved?

I think the poster was saying that:

If you die with less than £20K of assets, the government takes the lot.

If you die with more than £20K of assets, the government takes the first £20K and the rest (subject to the IHT thresholds) goes to your family.

If you die and all your wealth is in gold bars and coins hidden all over the place that you bought with cash from various places at various times, the government don't get to find it, but your family do and benefit from your hard work and diligence.

[AtW]

If you die with less than £20K of assets, the government takes the lot.

If you die with more than £20K of assets, the government takes the first £20K and the rest (subject to the IHT thresholds) goes to your family.

So that's one gold coin like, innit?

[emanresu]

Only if you tell them where you've hidden it.

[Mich the Tester]

Brown said in a speech to the Kings Fund health thinktank that "caring for older people well is the hallmark of a civilised society"

Yes Gordon, and stealing money from dead people and the bereaved is the hallmark of graverobbers, bullies and parasites.

[AtW]

Yes Gordon, and stealing money from dead people and the bereaved is the hallmark of graverobbers, bullies and parasites and Nu Liebor.

FTFY

[eliquant]

This aint good its yet another attempt at taking hard earned money away from the family and giving it to others.

Many years ago I thought that this would be a 'capitalist' Labour government with incentives for the individual and small business where one could strive for success and wealth in life and there would be a safety net to help you back on your feet if all failed.

How WRONG I was. Its turning into a zero incentive, hunt individuals and minorities down for their wealth in order to sustain the poor who are Labour's electoral base. Argentina duing the 80s and late 90s had a similar practice pre and post military dictatorship whereby their inland revenue randomly targeted families and sucked them dry until they were either ruined or forced to flee.

Where will this leave Britain when those who are the entrepreneurs in a country no longer want to be in that country for fear and dread of being hounded to death by a regime where they are made to pay for the mistakes of some unregulated investment bankers and a government that have overspent and mis-managed expenditure ???

[TimberWolf]

This aint good its yet another attempt at taking hard earned money away from the family and giving it to others.

Many years ago I thought that this would be a 'capitalist' Labour government with incentives for the individual and small business where one could strive for success and wealth in life and there would be a safety net to help you back on your feet if all failed.

How WRONG I was. Its turning into a zero incentive, hunt individuals and minorities down for their wealth in order to sustain the poor who are Labour's electoral base. Argentina duing the 80s and late 90s had a similar practice pre and post military dictatorship whereby their inland revenue randomly targeted families and sucked them dry until they were either ruined or forced to flee.

Where will this leave Britain when those who are the entrepreneurs in a country no longer want to be in that country for fear and dread of being hounded to death by a regime where they are made to pay for the mistakes of some unregulated investment bankers and a government that have overspent and mis-managed expenditure ???

I wouldn't mind if it went to sustain the poor, but the poor have been screwed more by Labour than anyone. It goes to themselves, highly paid public sector workers, big business the banks and other rich people.