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?

How is it completely unworkable? Most countries have a gift tax rather than our system. Ireland for example.

"he just gets more and more stupid doesn't he".

Says someone who hasn't actually read up on the facts before commenting.

I have the evidence of everything I’ve seen parenting a disabled child, zipee.
What evidence do you have that Corbyn will make exceptions? When has he ever showed that he understands the problems of kids with additional needs, or paid them any attention - except as a tool to attack Tory cuts?
He wants to take more tax from me so other middle class people can send their kids to university for nowt. He can stick that up his arse and fuck off while he’s doing it.

I think our whole tax system is due a reform. Let's start with council tax first.

I'm of the "taxation is theft" persuasion and everything I have is a result of my own labour. But I can see where he is coming from with this.

I live in London, do the same job I was doing when I bought my home 20 years ago, and if I could have my physical age reset to 20 years younger, at the cost of having to pay for my home again, I wouldn't be able to afford to stay in it. It looks to me that in future living in London will only really be an option for people who inherit London housing wealth from their parents.

The way property prices has gone is really dividing the country into two worlds.

I don't know how the proposed measure would work, for selfish reasons I won't support it even if it is practical, but I can see the problem it's aimed at.

I have the evidence that under the last labour government funding for disabled children in mainstream and specialist schools was higher, there were far fewer hoops to jump through to access it or to get benefits to support them to. Access to care and respite care was easier and it provided to a greater extent.

You have no idea how this would work aas a policy and yet are making huge accusations

He's a raving lunatic.

God help us if he ever gets into power.

@Broombroomshaketheroom what absolute bollocks you’re talking. Corbyn isn’t the far left. (Much to my disappointment at times).

Taxation is theft, said by those who suffer the self attribution bias, and equate their own high inomes as a reward for hard work and good choices.

No one makes it without society working efficiently for you, and high earners benefit more from society than lower earners becsuse it massively facilitates their earning power.

Hmm, DH and I have accumulated a bit of a pile from starting off with nothing. Should we just sit on it until we are 90 then and our kids are 60? Much better to give it to them when they are starting out.

The super rich don't pay inheritance tax anyway; it's all tied up in trusts and the like. It will just hit those of us who have worked hard to earn our own money.

So what will you do with people who sit on millions and millions of pounds they don’t need while the rest of us is struggling?

@CorbynsComrade Momentum have a far left, extreme socialist agenda in the background. They are using Corbyn as their gateway. He doesn't much like them and is using them himself as their support is what got him to the top, but that will potentially backfire and they wil be left in charge of one of the major political parties. That is Momentum's entire manifesto and plan in a nutshell. Corbyn is their poster boy, regardless of how extreme or not his own views are.

Or are you sodding blind?

I agree Bloggers - get rid of council tax and put income tax up.

Then you need to begin with raising wages for the lowest paid and get rid of 0 hours contracts.

You can't stop people giving, nor should you. We are never going to have a completely fair system and there will always be some people with more than others. But we could make things fairer by eradicating poverty wages, taxing the super rich more and doing away with council tax.

Tinkly, you are so right.

I also love the fact that anyone on this thread who takes a dislike to these proposals is either a "pleb" or doesn't understand. Typical!

Except that those attacking corbyn for this don't understand, this is a proposal by the author of a report, not policy.

No one has used the term pleb.

It is funny how any suggestions for how to reduce inequality in the UK are greeted with horror by certain parts of MN.

We should be taxed when we are paid a salary and when we purchase something. That's it.

Totally disagree. If this happened, the very wealthy would perpetually hand down greater and greater wealth with a snowball effect whilst the rest of us become poorer. Over simplification but you get the idea. I don't think IHT is currently applied effectively but it absolutely has its place and is extremely important.

Genuine question for those who think "tax is theft", where would our infrastructure come from if we weren't taxed? How would people who cannot work/don't earn enough to live be supported? How would sick people receive medical care? How would our roads be maintained? Our police force funded? Hospitals built?

Zipee, yes they have on page two, apparently anyone criticising Mr Corbyn, was a pleb. Read the thread.

Has anybody that is moaning actually bothered to read the research document? Or do you just rely on a few lines from a biased media source?

Remember all the fuss about the garden tax, that it then transpired isn't even Labour policy?

Zippe comment made by Travellingspoon,

"All of this Jc hate is just to get the plebs to think that Bj is a good idea".

Still think no one mentioned plebs??

@Dutchoma that is not who this will impact. This will impact the middle and lower middle. Generally the people who worked hard, paid for their own degrees and studied hard to get where they are. £125k is not a great amount to have accumulated over a lifetime to gift to your children. For a couple earning £25-30k a year each in a moderately priced area it is easily saved over 40yrs. A receptionist can earn almost £25k in some places ffs (I know, as I was one on that wage ten years ago - in a deprived city!!)

But yeah, tax the lower middle more, course. Anything to stop any social mobility at all apart from rags to riches, yeah?

Read the thread, no one used the word pleb.

Although some very nasty attacks on Corbyn for something that isn't even his idea or Labour policy.

Socialism does not work. It has never worked. It will never, ever work.

The End

Surely it costs more than £125k to put a kid through private school anyway? Or will education be exempt? Many labour luvvies send their kids private.

Tax is not theft. I support inheritance tax and will pay a huge amount.

This proposal seems inherently unworkable though.