Jeremy Corbyn wants to impose lifetime gift limits on children of £125,000

[ForTheLoveOfDoughnuts]

So we pay tax on what we earn. What we buy. And now this.. what's the point of working hard to help out our kids, for this to even be considered. Or AIBU?

This would be impossible to enforce. Actually enforcing would require huge administrative costs and would involve human rights violations, like any attempt at a wealth tax. Yes people love taking money from those who work harder and earn more but no one seems to care whether that act is actually a benefit or a detriment to the economy.

The wealthy will always find a way around it. I’ve an idea how already me too

Politics of envy and greed.

Free education and healthcare for all too

We have that already

Alsohuman There’s zero point in unenforceable bans. I see no problem in paying the window cleaner cash while one of the richest men in the world doesn’t pay tax

So two wrongs DO make a right! Ahh thats where I have been going astray all these years. If its wrong, its wrong. And I would be fining you for doing it not just asking the window cleaner to pay tax on it.

The moral of the Labour party "story" is be unambitious earn as little as possible (no earned income would be better) rely on the state to pay for everything for you from cradle to grave and that way you will have a reasonable standard of living and pay no taxes.

If you want middle class people - because that is the people who pay their taxes and do the right thing - to carry on funding society - then it needs a carrot and stick approach, not a stick and stick.

why should anyone pay huge amount of tax leaving less for funding care in their old age only to find that someone living up the road has literally spent every penny that has come into their household, never saved etc and still gets the same standard of care. We have lived a fairly frugal life - own business, irregular holidays (most in the UK), older car etc to make sure we can help our kids out when they start out on their own. And it probably wont be anything like £125K each . But it makes me wonder why I dont just pack it all in and stop working 60+ hour weeks just to give even more to the tax man. so no, i wont be voting for this and I wont be voting comrade corbychov either.

I am all for new ideas, but many of the ones being suggested here are all about punishing people who are trundling off to work every day. All dh and I have is what we've earned. We have inherited (or will inherit) nothing. So raising tax rates - oh, great, thanks.

I agree that cash in hand should be more heavily policed. The richest people I know are plumbers and builders! Well, slight exaggeration but they certainly live high on the hog.

Agree wholeheartedly that second homes should not only pay council tax but double council tax. I also read about a loophole whereby you could list your second/third personal holiday home as holiday accommodation in order to qualify as a business, but simply pretend it was permanently fully booked/unavailable.

I think we are of the same mind, mummymeister!

The man is a disgusting fool. We have a disabled ds who needs help after we've gone. Corbyn would see him on the streets presumably 😡

What a load of rubbish mummmeister, how come countries that have higher rates of progressive tax, lower inheritence thresholds etc are more succesful than the UK economy?

IrmaFayLear 44,000 properties in Cornwall taking advantage of that loophole and paying no business rates and no council tax so essentially getting all local services free - subsidised by people on fixed hours contract minimum wages jobs. How can that ever be fair.

Of course cash in hand is difficult to stop but it has just become so socially acceptable and it shouldnt be.

Zipee What a load of rubbish mummmeister, how come countries that have higher rates of progressive tax, lower inheritence thresholds etc are more succesful than the UK economy?

at the point where you decide to be so rude, I switch off. Do you have no idea at all how to engage in reasoned, adult debate or dont they teach you that in Momentum meetings?

Except it wasn't rude, its accurate.

Do they teach you this rubbish at the Ayn Rand society?

When the Labour Party raised taxes to ludicrous levels in the 60/70s some as high as 98% people not surprisingly moved their money/shares/property to the newly created tax havens. Offshore trusts and companies now control huge swathes of the U.K., and for people from all over the world.

Be careful what you wish for. By the way Corbyn comes from a wealthy family so I assume he benefited from parental handouts ........

All animals are equal but some are more equal than others

This would do great things for the private school industry.
All the grandparents planning to leave money to their children and grandchildren would instead look for ways to spend it on them and this would be an obvious one.

He's a joke! He grew up with an extremely wealthy family so he's quite the hypocrite to try to dictate that others can't benefit from their family when he almost certainly did. These twats are all alike - they're all clueless upper class ponces playing with peoples' lives and don't give a shit.

Zipee it was rude and I am not the first person on this thread to point out that you have a rude, aggressive and abrasive manner. perhaps you need to interact more with real people. would you speak to someone like this face to face?

You dont agree then that 44,000 properties in Cornwall pay no council tax or business rates?

why cant you see that people who adopt the "I'm right and your always wrong" position have so little success in forming a government?

Corbyn is from a privileged family, but he is looking to tax gifting. If you have paid tax on your money why should anyone have to pay tax on if you gift it. Does this include pocket money, school fees, new tennis rackets, birthday and Christmas over a lifetime. I feel sorry for the coming generations

What you mean like brexiter?

I agree thst second homes should be more highly taxed, yes Cornwall has a lot. There is 1tn held in second home assets.

Do you not think its rudeto suggest, erroenously, tgat the labour ideal is to be "unambutious and earn as little as possible" ?

That's rather aggressive too.

And a land value tax is not a tax on people's gardens.

That's exactly what the SNP proposal in Scotland is. Also a major tax on market gardens, farms, school playing fields etc.

JC is a dick.

Zipee - you clearly have issues distinguishing between being rude about a doctrine and being rude to someone personally.

In your view my opinion is erroneous. I respect your opinions, sadly you dont offer others the same courtesy.

What you mean like brexiter? what does this even mean in the context of my comments.

JC's a total dick. He truly doesn't give a fuck about the party, only about himself. He's a pisspoor excuse for a leader but won't step aside.

Oh @Zipee, you never learn, do you? You really are one of the rudest people on MN.

How are you going to find out I pay the window cleaner cash @mummymeister? By the time you’ve employed thousands of cash in hand police you’re in deficit.

I am self employed most payments by bank transfer or credit card very occasionally cash but we give a receipt for it and declare it every single time.

I am always a bit astonished that law abiding tax payers have no problems paying cash in hand and can see no correlation with their own tax rates or benefits levels. I dont see how two wrongs - albeit one by the window cleaner and one by Amazon make a right.

The moral of the Labour party "story" is be unambitious earn as little as possible (no earned income would be better) rely on the state to pay for everything for you from cradle to grave and that way you will have a reasonable standard of living and pay no taxes

Yup.

Still waiting for any sensible alternatives.

At the end of the day, a very small proportion of people control most of the wealth in the UK. Dream all you like, but most people will not be earning enough to be impacted significantly.

And yet you’ll never be able to earn more because of the lack of investment in schools and local economies. Your children will find it harder to get decent jobs - because of the failure of neo-liberal policies to make things fairer.