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Enough is Enough

4 replies

RedRock41 · 06/01/2024 10:04

With a general election this year can MN campaign for a better deal for earners and families? As it stands successive governments tax income not wealth. Tax burden highest it has ever been for those of us grafting or raising the next generation of earners/tax payers. For many hard working families there is more month than pay. The old adage of if only you work hard enough - just doesn’t hold true any more for a lot of people. That social contract has been long ripped up. As for housing it’s become more akin to a ponzi or like playing life monopoly when the board is already owned… without a hand up or an inheritance (accident of birth) these days (studies confirm) reality is many of us will never own their own home or be able to square the circle. Or retire at a decent age or get a decent pension. We were told there is no magic money tree yet they’ve been printing £ through QE since 2009! Tree found to bail out the banks not to mention C19 or HS2 billions. Ad infinitum. Latest suggestion that inheritance tax be abolished is an insult… capital and unearned income needs fairly taxed too. Why should struggling families given tax on income highest its ever been have to find more and £s to offset tax lost from those who have much more? Absolute disgrace to call it a cost of living crisis… if there was political will to change it they’d find it and do it. None of us be struggling this much if we didn’t all have our gross pay plundered to this extent… and such a plethora of stealth taxes… sure even our Utility bills slap 5% on top… electric/water/gas should be non profit as they are essential services and by making a large majority of the population now feel like they exist not live with the gap ever widening leaving an even worse situation for our children. Enough is enough. MN followers should all make sure to register and vote when the time comes. It’s one of the reasons pensioners (no qualms there) get a good deal. They VOTE 🗳️. Never be any change without a loud enough voice.

OP posts:
Philomenacunk1 · 06/01/2024 12:52

Completely agree. Abolishing inheritance tax shows just where this government’s priorities lie - and it’s definitely not work ordinarily working people!

Philomenacunk1 · 06/01/2024 12:52

*with

FuckinghellthatsUnbelievable · 06/01/2024 13:05

I think you need to close the loopholes for inheritance tax. You can invest your money in schemes which if they qualify for business property relief for two years can be exempt from IHT currently.

If you are financially astute or get proper advice you will pay little tax. You don’t need to pass homes on and wait seven years you could take out a loan against your home, sink it in an IHT exempt scheme. Carry on living in it then if you die after two years the value of your estate subject to IHT can be lower than the allowance but you could pass on millions. Yes you’ll pay fees etc. but lots cheaper than tax.

kitsuneghost · 06/01/2024 13:29

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