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?

Except I proved you wrong? Anyone will be able to see that, as I've maintained the same points all the way through and you've been shown up.

You alright hun?

How on earth have you proved me wrong? I would genuinely love to know. Is it because I got on with my job and let you rant so you feel you got the last word. It certainly can’t be your thought processes.

You accused me of not knowing the difference between turnover ans profit when I had asked a question of another poster wbo had proposed a turnover tax to replace business rates.

You then denied that this was the case when I responded to your post regarding it, even goibg as far to claim that it had never been mentioned.

I copied and pasted the post which my reply was to, and pointed out that my reply was posts after.

You were wrong.

Try harder.

Sorry my reply was two posts after.

Your attacks on me are perfect examples of ad hominem by the way, also showing the further flaws in your argument.

You do realise that when business owners read this kind of stuff, their inclination is to move whatever they can offshore?

Did you say the same when the tories upped NIC for self employed people, or upped business rates?

Given that we have a very low rate of CT compared to many other countries, along with infrastructure that massively benefits companies (eg tax credits so they don’t have to pay a living wage) where do you think they’ll go?

Seriously?! Good god. You really have been drinking the Kool-aid zipee

You are right there. Tax is best kept very simple

@Aligatorsnaps good rebuttal, well done.

Another ad hom too, please try harder.

The evidence is all there, your lies are evident.

Well zipee you can’t argue with dumb.

We can be arguing all day on this, socialist policies will not work in this country!!! The population is totally unsustainable as it is, do you really honestly think that taxation of inheritance is going to go towards the poor? I mean I hate to be disrespectful, but how old are you ladies that think this?

I've lived through Labour and Conservative governments and none have done anything to fix poverty and the inequality spread across society, because that's not the system we can exist under. Socialism can only really do well in a sustainable society where everyone is contributing, hence why it did well in Sweden. It cannot do well in a country that's unsustainable to begin with, like this place. You will just see the middle class collapse and the rich get richer. Economics shows that every country without a middle class, is an impoverished country. Venezuela is also not a sound bite, but a real example of how socialist ideology when installed in to a country that was already struggling economically, will simply put the final nail in. That is why it is relevant for here. In lieu of capitalism, socialism puts the fate of individuals in the hands of bureaucracies. Bureaucracies cannot be managed by economic calculation like businesses in a capitalist economy and are therefore destined for bloat, inefficiency, and mismanagement. That's the reality of socialism, in very small wealthy nations, it can at times work if utilised correctly, in this country, forget it!

@Aligatorsnaps again dearie you haven't countered my point and have launched an ad hom.

Can't do comprehension, can't do critical thinking, can do economics.

Aw bless

If anybody looks back it is very obvious that you asked the question as to what the difference was between turnover tax and a tax on profit - and then when called up on up on it suddenly claimed ‘I meant business rates’ picking on some other posters comment that you never even referenced. You have not countered anything I said on any other point, even when positively encouraged. You have been proven to be talking nonsense again and again by previous posters responding with what you perceive are insults. You talk about an ad hom. I don’t think you have actually managed to beat any argument without resorting to insulting nonsense.

Venezuala is a soundbite because its issues are far more complex than socialism.

The proposals in the last labour manifesto are much more in line with the Nordic states and Germany than any socialist utopia, which of course is used as strawman because arguing with the actual policies is much harder.

Since 1979 we have for 27 out of 40 years under very neo liberal governments operating as extreme policies as thr electorate will tolerate, and the UK has the second largest levels of inequality in the EU. Far less equal than it was under the post war consensus.

Repeating "socialism doesn't work" is incorrect because all major economies are mixed, some elements are socialised, others are open to markets (there is no such thing as a true free market, every market has forms of government intervention). How mixed the economy is, is our choice and it is possible to have higher government involvement (almost all EU and major OECD countries have government spending making up a larger part of GDP than the UK). Many countries run succesful economies with higher rates of income tax, corp tax, and forms of tax on wealth.

So yes, Venezuala is a soundbite, as is "socialism doesn't work".

What counts? The £50 my mum gives me at Christmas? The £12k my dads giving me for my wedding?

Mine and DPs parents pulled themselves from utter poverty into being able to help us massively with uni and homes etc... what'll be the tax? 20%? 40%?

@Aligatorsnaps really?

My post was in response to mummymiester, as Ive said all along.

It appeared two posts below her suggestion or a tax on turnover. You denied that post existed, when actually it had been part of a discussion regarding alternatives and she had proposed a range.

You haven't rebutted my points on Venezula ot anything else, and yes you have repeatedly used ad homs.

You lose.

SinkGirl - Giving your kids money in your lifetime is not done as a way to evade IHT. For one thing, it could never be evasion as it is and always has been 100% legal to give your money away to whomever you want, whenever you want. It isn't usually avoidance, either - why should you wait until you are dead to give your children anything? These proposals have fuck all to do with stopping people evading or avoiding tax, they are just about increasing the tax take from people who don't have the wherewithall or overwhelming desire to avoid tax. I don't think the favoured way for the super wealthy to avoid tax is to give huge sums of traceable cash directly to their kids and then hope they live at least another seven years... Framing this as something to stop selfish people being unfairly greedy is offensive and ridiculous. Hoping you live seven years after giving lots of money away is a deeply stupid form of tax avoidance. It's more generally known as being generous towards those you love most and wanting to protect them without breaking the law or doing anything society actually disapproves of. If you don't like the fact some people can give more to their children than others, you can't fix that fact through taxation - that's trying to close the stable door after the horse has bolted.

Can we all just take a moment to look at the absolute shower who’ve been governing our country for the last decade

And yet Corbyn still can’t win an election. It’s time he quit and let someone else have a go.

Corbyn has only had one election to fight in which he won a far higher number of seats than predicted. The Tories had the majority of the news media, higher funding and other advantages lost their majoirty.

I'm actually not an avid fan but I think he has to at least get another go, Labour tried middle of the road with Miliband and had heavy losses.

Corbyn vs Boris what do you think will occur?

I have no idea.

Hung parliament most likely, libdems or SNP as king makers

I don’t lose. Are we in the playground?! Well probably considering your comments.

Chavez nationalised to take things back for the people to overthrow capitalism. Corbyn has publicly said he agrees. The result was massive increase in inflation, 3 million people leaving and mass shortages. Socialism hasn’t ever worked.

As I have said before, and getting back to the point of the actual thread, this policy reeks of centralisation where a family are going to be judged as to what they can do with their own cash or not depending on a mandate set by bureaucrats. And there does have to be that centralisation or it would never work. People will say a payment to a child is an expense when it isn’t. It’s human nature and I will decide what is good for my kids. Not a government with an agenda

Its also only an idea from a labour think tank... not policy, so all you would be wealthy tories can sleep easy

Maybe they can but us skint Labour supporters are being kept awake by the thought that this sort of tripe can be put out in public without having been fully thought through. Thank fuck the Tories are too occupied to launch into it!

Are you a right wing Journalist by any chance...?
Inequality is very real .... sadly so is greed ... post the full proposal rather than a snap shot to get middle England. All worked up and indignant....
Corbyn may not be the answer but neither are the conservatives and their ruinous privatisation plans past,present and future

Plus the government already know what you gift unless you are breaking the law and not filling out tax returns for gifts over the annual £3k allowance ...

Plus the government already know what you gift unless you are breaking the law and not filling out tax returns for gifts over the annual £3k allowance

How do they know that?

If I transfer £1500 into my child’s account how would they determine if that was a gift and not repayment from a few expenses that she paid for because I couldn’t be bothered to go to the car and get my credit card?