This week’s diarrhoea of policy announcements is looking increasingly like a core-vote strategy, in a desperate attempt to avoid them getting wiped out at the next general election. I can’t believe he thinks inheritance tax cuts actually have broad appeal.
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Quote:
Originally Posted by Pierre
I’ve been taxed on everything I have already earned, on some things multiple times. What gives the state the right to tax me again when I want to pass on my hard work to my kids so they have a decent start. That’s what I’ve worked for.
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You haven’t been taxed on the truly colossal capital gain you’ve made on your family home (assuming you’ve been a mortgage-paying homeowner, and I’m pretty sure you have).
A massive chunk of the wealth inequality in this country arises from Boomers and Gen X’s who got on the property ladder before the mid 1990s when an average home was worth three times average wages (or less). Today it’s in excess of 7 times average wages.
You didn’t earn that. Neither did I. Both of us have benefited from government policy deliberately crafted to make private homes into assets, and to generate a sense of wealth.