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John Caudwell

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Yellow Card - User has been warned of conduct on the messageboards Hrolf The Ganger Flag 20 Jun 24 10.36am Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by palace99

I think you need to understand the facts.

There is already inheritance tax at 40%. I have just paid over £100k when my dad died and we are not a wealthy family.

I also pay tax on my savings - as a lower rate tax payer i am now paying 20% on the interest over £1k.

I am of medium income and savings and have never paid a penny in Capital gains tax, and unless you have more than 1 property i suspect nor have 99% of the public (the working people).
The CGT rates are very low - the max is 20% (property is 24%) so this seems an obvious one to increase.

In terms of the Tories and tax don't get confused by the smoke and mirrors.

The income tax threshold have been frozen for a number of years now so this is a tax increase EVERY year.
CGT has a tax free limit - was £12k, then £6k and now £3k so the Tories are increasing this.
Similarly VAT - i remember when i was a kid it was 8% - now 20%

Unfortunately if you want a free and effective NHS, a care system that works for our ageing population and support for people with educational needs and/or physical disabilities it needs to be paid for. That's before the govt pay for pensions and defence, both of which are massive costs.

We also have govt borrowing of almost 100% of our annual GDP - that's over £2,500bn a year. We pay interest on that so that's over £100bn a year (which Sunak didn't lock in at low interest rates when in No 11 BTW). When one party moans that say there is a £20bn overspend in a manifesto it is in the grand scheme of things less than 1% of our overall annual GDP.

So every party will have it's hands tied regardless of who is in power

Do I really?

I know them all too well. It has cost me a lot more than 100k.

Increasing inheritance tax would be beyond shameful. It should be scrapped completely.
It is social engineering at worst and taxing that has already been taxed at best.

Taxation is a necessary evil, but you cannot campaign on tax being at its highest level for years and then say you are going to raise it higher.

That is laughing at the stupidity of much of the electorate.

Labour always raise tax. That is a fact. They then waste most of it on absurd schemes. Stand by for minority causes to be in the money, and the unemployed to be better off at everyone else's expense.

 

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