From Sophie Heawood in the Guardian this morning:
For God's sake, the poorest sector of society are now living off food banks and Cameron is not only offering tax cuts to rich people, but to rich dead people.
Which summarises what this election is about, in a nutshell.
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Last Sunday, the 12th I did a post on Inheritance Tax in Promise of the Day Second. You may find the reasoning obscure but there are points of agreement. Basically, the tax was brought in to correct the increasing inequalities of wealth in the past.
And we need to beat that rising inequality now
I realise we are talking semantics here, but it is rather strange that the UK calls it inheritance tax.
It would be more logical to call it ‘Estate Tax’ and other countries tend to use the name ‘Inheritance Tax’ to describe a tax on the recipient. Of course under this sort of scheme each recipient normally pays tax according to the amount they have received, which allows the creation of a more progressive system.
As long as the UK uses the name Inheritance Tax it looks and feels more like a tax on the recipient.
It should, of course, be a tax on the recipient, but is not
Tories do take it with them, though. They have pockets in their shrouds.
They have return tickets across the Jordan, to paraphrase my street auntie Fanny next door, who claimed that no-one had.