[Gllug] [OT] Times Article on ABD was Fighting a virus

[t.clarke]

Seems to me inheritance tax does NOT achieve the amassing of considerable
wealth by families, thanks to the '7 year rule'  and various Trust ploys.
Otherwise how come the Duke of whatever still effectively owns whole chunks
of london?

What it does achieve is screwing the 'middle classes' who cannot afford
expensive tax planning.

A far fairer system would, IMHO, be to tax the recipients of handed-down
wealth rather than the estate as a whole, with a suitable 'free limit' of
maybe a million pounds.  Thus an estate of 10 million handed down to a
single person would attarct inheritance tax on 9 million,   but handed down to
10 or more different people would attract no tax at all.

Of course this will never happen as IHT garners in lots of money from the
'masses', without upsetting the rich and powerful upon which our politicians
depend.

Tim
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