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?

Venezuala is really a bad point to make too, demonstrates that you talk in soundbites that you have heard elsewhere and don't understand.

You've got a, very controversial, point there oilbaron

Sure. Not one I would advocate, just trying to illustrate the futility of the relentless pursuit of 'fairness'.

Mind you one of the single biggest determinants of a child's success is the number of books in the home s/he grows up with - more so than private education.

The biggest determinant of a child's success is the income or their parents.

So oilbaron...what constitutes a 'fit' parent? Do you mean a wealthy parent ...someone who can financially provide everything? Back in the 50s a family could survive on 1 wage.

**and who is going to build all this social housing? Is the government going to oversee the property developers and set up their own building firms or will current developers have to build the houses without making any money out of it?

It's a sad fact that local authorities aren't able to take greater control in building social and affordable housing. Public land gets sold off to huge developers that make huge profits. Only a very small amount of these developments are available to those on low incomes. Many small developers have disappeared. Why not give local authorities the power to produce social housing for those that need it? Why should poor working families be at the mercy of unscrupulous landlords, living in less that satisfactory conditions with no long term security?

So oilbaron...what constitutes a 'fit' parent?

Well, that's not for me or anyone to decide, obviously.

I was just trying to illustrate the futility of the relentless pursuit of 'fairness'.

Farmers don't hide their bloody money, they are businesses and pay taxes

Genuine farmers don't avoid tax.

But farmland is used as a tax shelter, which has pushed up the price of agricultural land and prices out farmers.

Between 2011 and 2017 the proportion of agricultural land sold to farmers fell from 60% to 40%. Tax Justice UK have found that by owning agricultural land, 261 rich families dodged paying £208m in inheritance tax in 2015/16.

zipee - you didn't understand the difference between turnover and profit until it was explained to you whilst trying to discuss economic policy, so if i was you I wouldn't say that JQBased is talking in soundbites that she doesn't understand.

In 2013 Corbyn hailed Chavez as “an inspiration to all of us fighting back against austerity and neoliberal economics in Europe”. Two years later, he observed of Venezuela that “there is an alternative to austerity and cuts, and enriching the richest and impoverishing the poorest, and it is called socialism”. He even called Chavez “an inspiration to all of us fighting back against austerity and neoliberal economics in Europe” and Maduro “effective".

So what happened? Chavez amended the Constitution to declare that ‘the predominance of large idle estates was contrary to the interests of society’ in 1999 and then introduced a Land Law which permitted the expropriation of such land in 2001. This was then extended to other sectors. In 2007, for example, the government demanded majority control of projects managed by international oil companies and expropriated the assets of the two companies (Exxon Mobil and ConocoPhillips) that refused on the basis that he was ‘returning’ the wealth of Venezuela to the ownership of ‘the people as a whole’. They then nationalised the cement sector - and so it goes on.... gold, mining.... Not similar to what Corbyn has planned here at all .. no.......

What was the result of such policies? The economy has crashed more than any other with hyperinflation reaching 10 million percent according to the IMF, 3 out of 4 hospitals have been abandoned and 3 million have left the country...

I believe there are studies which show the greatest determinant of a child’s academic outcome is parents’ attitude towards education, not parents’ own educational attainment or income. Perhaps this is why certain immigrant groups achieve so highly despite being comparatively low income.

@Aligatorsnaps

Why concentrate on all the abject failures of socialism around the globe and the misery inflicted upon millions? Don’t mention the USSR, don’t mention Cuba. They didn’t get it right. They have it a bloody good go and millions died in the attempt, but can’t we overlook that inconvenient fact? Real socialism wouldn’t look anything like that. Socialism has a 100% record of failure anywhere it’s ever been tried, but I’m still convinced that somehow we’ll get it right one day!

The turnover and profit point wasn't me.

Chavez was an issue yes, but primary resource dependency and the impacts of the resource curse are also major factors in the downfall or Venezuala, as is foreign government interference. The taking of assets from MNCs could be seen i Venezuala's case to be reclaiming assets tsken from them illegally ue to corrupt former governments .

Corbyn may have praised Chavez, and using national assets to the benefit of the people has beem proven by other countries (Norway for one) to be very succesful.

Other countries too, like Germany have nationalised rail networks and utilities.

As i was pointing out, the Venezuala situation is fsr more complicated ths just socialism (of course government incompetence does bear some of the blame) but the repeated comparisons are erroneous

and yes going "we will turn out.lile Venezuala" is a soundbite, and an incorrect one.

Thanks for reading my points incorrectly though. I asked a question on how you could tax turnover as a replacement for business rates which was a suggestion by another poster, and said one reason it would be unworkable is that you wouldnt be able to justify this and corp tax on profits. There of course would be many others that also make it unworkable too, but hey, youve sought to attack me incorrectly.

Try again.

I am concentrating on Venezuela because that was the country mentioned and if i went through the failures of every socialist country I would be here all day.

As you say, socialism has a 100% record of failure. So what's going to change?

And no, the Nordic states are not socialist. They practice free market economics. They do have high taxes but that's not the same. It was not the government benefits that created wealth, but wealth that allowed the luxury of such generous government programs. Indeed, you can see Nordic commitment to free markets in Sweden which has complete school choice. The government provides families with vouchers for each child that can be used to attend regular public schools, government-run charter schools, or private, for-profit schools. Clearly, the use of government funds to pay for private, for-profit schools is the opposite of socialism.

The nordic states operate policies which are socially democratic and therefore influenced by socialism.

Sweeden is moving away from for profit schools I believe.

The nordic states have high levels of progressive taxation amd redistribution and many, many policies that are in line with labour manifesto proposals.

There are no pure free market economies ( and of course no pure free markets) all economies are mixed with socialised elements.

The Norwegian sovsriegn wealth fund owns the oil in Sweeden.

Oh and before you bang on about wealth creation, the wealth is only created because of the society in which it began.

Ok - how about this

Zipee Sun 16-Jun-19 17:16:03
How would a tax on turnover differ from corporation tax on profits?

Business rates is not a tax on turnover or profit, it's a tax on land - on rateable value as it goes. So, trying to say you were talking about business rates now makes you look even more ridiculous. You try again.

The point is that parents should be able to make that decision. If they wish to pay to educate their children, I fail to see why the opportunity should be removed from them

Well i do, because the private sector is subsidised by the taxpayer who cannot afford this type of education, via private schools being given charitable status...so no VAT charged, lower business rates and corporation tax.

How the xxxx is Milfield or Kelly College a charity??? they are certainly not for general public benefit and don't say bursaries, the numbers given out are tiny and most are only for 10 or 20% of the very substantial fees, if your child turns out not to be the next Jess Ennis, the fees go back up to full rate.

I know what business rates are, I explained why I asked that question. A previous poster suggested a tax on revenue to replace them.

Try again.

Aligatorsnaps

www.forbes.com/sites/jeffreydorfman/2018/07/08/sorry-bernie-bros-but-nordic-countries-are-not-socialist/#4aaf5c7274ad

They are known as socially democratic countries.

See the problem is that you think there is only one form of socialism, failing to understand that all mixed economies jave socialised elements.

Nope thats the first time you have mentioned business rates.

Any more?

Try the post to which i was replying to.

Try harder.

en.m.wikipedia.org/wiki/Social_democracy

How the xxxx is Milfield or Kelly College a charity??? they are certainly not for general public benefit and don't say bursaries, the numbers given out are tiny and most are only for 10 or 20% of the very substantial fees, if your child turns out not to be the next Jess Ennis, the fees go back up to full rate

You are talklng about scholarships, not bursaries. Millfield give 50 to 100% bursaries.

@Aligatorsnaps

I was agreeing with you

And you only stop receiving a bursary if your income goes up. I do wish people would stop prattling on about things they know nothing about.

- get rid of council tax and put income tax up.

In other words let those who bother to work and pay tax can carry even more of the burden of those who don't work.

Tax payers don't subsidise companies or charities that dont pay VAT

Honestly no wonder politics is in such a mess when the general public believe such bollocks