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Originally Posted by Sephiroth
What if you’re dragged into the IHT zone by this shitty government and you have/will have no care costs to consume that wealth? Why is it fair to tax my children on their inheritance?
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What do you think of May's plan where the cost of care would be secured against your assets if you have any?
Personally, I feel it's unfair. One of the principles of the NHS is that we pool the risk for each other somewhat. Some people will need more care and others less. It was still a way to pay for it though.
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Care could be funded from better spending choices by the shitty government.
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Like what? The biggest bills in this country are pensions and the NHS. You're not going to be able to afford government-backed social care by finding 'efficiencies', it's a bill that will go into several billions a year, so we need to pay for it somehow.
An inheritance tax is one of the fairest ways to do this right now. Anything else and you're asking those in work to underwrite the social care costs of a generation who already has benefitted from rising house prices and triple-locked pensions. Personally i think you would need both: a social care tax and some of the money taken back upon your death via inheritance tax.