All entries for Friday 12 October 2007

October 12, 2007

Inheritance tax (again)

Follow-up to Conservative conference – Inheritence Tax from The International Current Affairs Society

Good article in the G2 today that supports my point of view.

There is the assumption, contrary to economic history and most current predictions, that house prices will just keep on booming and therefore make even the most modest of homes liable for inheritance tax. There is the allegation that the levy is a form of “double taxation” – well, so is VAT, and anyway, money earned on property is untaxed. There is the unlikely assumption that people will not downshift to a smaller place, or see their savings swallowed up paying for their own care in their old age – as Carl Emmerson, deputy director of the thinktank the Institute for Fiscal Studies, says: “Your wealth at 50 or 60, when it’s at its peak, will not be the same as your wealth when you’re 80 or 90.” You could even question the notion that inheritance tax can be called a “death tax” at all, when it is not paid by the unfortunate dead but by the fortunate living. Emmerson, who is studiedly neutral on the question of inheritance tax, runs through these arguments and counter-arguments and then pauses a little wearily. “Maybe it’s just a badly understood tax,” he says.


Our Society

This is the blog of the International Current Affairs Society at Warwick. Any member can contribute, and anybody at all can comment on the entries.

Please see the ‘About Us’ link to find out more information about what we do.

October 2007

Mo Tu We Th Fr Sa Su
Sep |  Today  | Nov
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31            

Search this blog

Blog archive

Loading…

Most recent comments

  • Perhaps the monitors were paid more because they would need to be relatively strong and smart. If yo… by on this entry
  • these 'firms' would hire a 16th man, who would typically be paid more then the others It would inte… by on this entry
  • Many one–way systems in this country have been designed with only motorists in mind. In countries su… by on this entry
  • I think the funniest thing about this was boris johson's responce. When asked what he thought he sai… by Scott on this entry
  • all part of getting rid of the small farmers independence. example, USA 1930's. on my travels, i not… by cal on this entry

Tags

Tracker

Not signed in
Sign in

Powered by BlogBuilder
© MMXIX