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?

So you do bring up Hammond’s error any time anyone mentions the tories then? Talk about how precarious a position we are in with him running the economy?

So far Hammond hasn't suggested the kind of outright theft of our life savings as some of the Corbynites on here would prefer, so he's OK by me!

I’ve seen so many lifelong Tory voters hit hard times, realise just how bad things are under this government for those who are not well off and vow to never vote Tory again. I’m sick of it. You shouldn’t need to be suffering yourself to understand it

^ this

" Theft of our savings "

Hyperbolic nonsense.

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

Let's unpack this.

Has Jeremy Corbyn proposed this ? No

Is it Labour Party policy ? No

Does Jeremy Corbyn personally decide Labour Party policy ? No

Has someone else proposed this ? Yes, George Monbiot

Is George Monbiot Jeremy Corbyn, and does George Monbiot personally decide Labour Party policy ? No

Has someone been reading the Express, the Telegraph, and the Mail ? Almost certainly

www.ft.com/content/dc8a98fa-64ff-11e5-9846-de406ccb37f2

"Not very bright" .

Well the evidence is there, so many people attacking Corbyn for this policy, when its not Labour policy or even been proposed by the party.

That's not terribly bright is it?

Jesus, how about people try to earn their own money instead of extorting an ever larger share of what others have earned and paid taxes on already?

Thats exactly it though isn't it.

This isn't earned money.

There’s no point arguing anymore. I’m going to hide this thread because I’m bored of trying to engage with people who live in lala land.

They think they are successful and don’t recognise that part of that comes from living in a relatively stable society.

Inequality drives instability.

Really? I must have imagined paying tax on my income before I could use the remainder to fund my mortgage payments. I must have imagined paying VAT on any home improvements paid for with said taxed money.

Or maybe you're talking nonsense.

Hate to tell you @CendrillonSings but the only way governments get money to fund public services - the ones we all use - is by levying taxes.

And they take quite enough already, thank you very much.

So how are they proposing to take more from you?

Except the recipient of a gift won't have paid any tax on it will they? You don't get to say thst because it had tax paid on it once it never will again.

Oh and a lot of inheritance is based on untaxed property price increases.

I'd be quite happy if everyone paid a bit extra in income tax.

George Monbiot is a zealot and a lunatic.

1. THIS IS NOT CORBYN’S POLICY

2. Theft? Pull the other one. The proposal is about closing an IHT loophole for the super wealthy.

3. Oh so you admit you’re a hypocrite then? and you don’t give a shit about who the government hurts, just as long as it’s not you?

4. Do you know anything about Hammond and what he has or has not done as CotE? I take it you’re not self-employed or a small business owner paying business rates! Hasn’t fucked over his business though, has he - the changes he made certainly cut costs for his business. Must be handy running the economy and having a controlling interest in a large company.

Again, why is Abbott so vilified, for doing something that many MPs have done, including the man you actually runs the economy?

I’m starting to wonder if people need to prove they know a party’s actual policies before voting - the way people just parrot what they’ve read in some Murdoch-owned shit rag is beyond alarming.

This particular proposal would rob my kids - and I take that even more personally than their attempts to squeeze more out of me.

She has been howling at the moon all day. Read back through the thread :)

I should clarify that’s zipee I am referring to

It wouldn't rob your kids.

They'd pay a small amount of tax on unearned income over a certain high threshold.

But no, froth and rage about it despite all of the facts.

You don't get to say thst because it had tax paid on it once it never will again.

Actually, I do - it's monstrously unjust to tax the same sum of money again and again and again.

Guess what? I get to express my opinion at the voting booth too, as does anyone who owns a flat or a house or wants to pass something on to their kids. That's a lot of voters.

Really? I must have imagined paying tax on my income before I could use the remainder to fund my mortgage payments. I must have imagined paying VAT on any home improvements paid for with said taxed money.

And the (for example) £250k profit you make on your primary residence by the time you die - when did you pay tax on that?

You didn’t, and won’t, unless your estate is over the IHT threshold.

How much money do you think someone has to have before they give away over £125k to their child while still alive? Has tax been paid on it all? Was it all income for which IT was paid?

And as you point out, any money we spend on products and services is taxed twice. The idea of money being taxed more than once isn’t new.

@Aligatorsnaps aww did you come back to make some more inaccurate allegations.

Well done on your failed ad homs, or do I need to give you a lesson in critical thinking as well as comprehension and economics ?

If your kids are getting £125k in gifts, they don’t have much to complain about - it would hardly be taking the food out of their mouths.

Guess what? I get to express my opinion at the voting booth too, as does anyone who owns a flat or a house or wants to pass something on to their kids. That's a lot of voters.

You can pass on whatever you want to your kids. This proposal is that you can’t give your child hundreds of thousands, as a way to evade IHT, without some tax liability. Chances are you didn’t pay tax on that money, if it comes from increases in property value, or from inheritance that was under the IHT threshold.

Not really zipee. If anybody with a critical mind looks at what I have said over your I think they would see where the deficit lies.