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Why inheritance is the dirty secret of the middle classes – harder to talk about than sex

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  • Registered Users Posts: 202 ✭✭ RNFoxtrot




  • Registered Users Posts: 27,480 ✭✭✭✭ steddyeddy


    It's 100% true in England and becoming more and more true in Ireland. Inheritance is sometimes needed to secure housing and even sometimes jobs and education through networks and private schools. This in turn leads to a class of people owning their houses through their parent's, often in receipt of educational advantage in the form of private education and in some rare cases working in daddy's law firm.

    It's not just money. Efforts are being made to combat educational advantages in private schools but there's not much we can or should do about the rest (unless it's families employing each other in the public sector). However, what I find fascinating is that those who were most in receipt of these lucky advantages often have a strange sense of entitlement about it and rarely credit their success to these things. Conversely, this seems to inform their opinion about those who aren't so lucky in life and often the vastly inherited claim the less well off "simply made the wrong choices in life". Sometimes it's enough to acknowledge that certain people have their success partly due to inheritance.

    This is changing in education after the publication of a series of studies stating that if you two students, one from state school, one from private school with the same grade in their leaving cert/A-levels, the state school students do far in university. Therefore, the private school A-levels in overvalued. https://www.cambridgeassessment.org.uk/news/state-school-pupils-do-better-at-university-cambridge-assessment-research-confirms/



  • Registered Users Posts: 27,480 ✭✭✭✭ steddyeddy


    But the point is how much is actually earned? In the case of multi-generational wealth transfer it isn't earned it's just passed down.



  • Registered Users Posts: 761 ✭✭✭ Count Dracula


    The most frustrating thing for inheritance tax payers' is that in most cases the money was hard earned by their family and the tax has already been paid....

    I can understand the super rich getting stung, but someone who bought a 3 bedroom semi in Sallynoggin is basically being ripped off.

    The fact that it then gets wasted on shight would drive you to crime.

    Communists are leaches following an archaic philosophy with zero foresight. They are gormless enough to even consider it a suitable solution.

    I can tell you Lord Boyd Barrett and Paulo Smurph will be paying heaps of it, their middle class confusion an indifference deserves it, they think they are cool? Core Ngrato.

    It is a real lacking in modern society when 3-4 districts of Dublin city are considered cash cows by chancers in the Dáil and the Dep Finance. Twats.



  • Registered Users Posts: 202 ✭✭ RNFoxtrot


    That is rare though. In most cases it’s first generation earned and paid for. Go earn yourself instead of looking for my parents money.



  • Registered Users Posts: 5,439 ✭✭✭ Allinall


    All money is taxed multiple times.

    Taxing unearned income is absolutely the right thing to do.



  • Registered Users Posts: 27,480 ✭✭✭✭ steddyeddy


    I agree that huge taxes on capital gains and small inheritance are actually criminal. As someone who worked in the HSE previously I'll add that it is indeed wasted on shite.



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  • Registered Users Posts: 202 ✭✭ RNFoxtrot




  • Registered Users Posts: 27,480 ✭✭✭✭ steddyeddy


    Indeed. I think we should tax the multi-generational inheritors, not those inheriting small sums.



  • Registered Users Posts: 5,439 ✭✭✭ Allinall




  • Registered Users Posts: 500 ✭✭✭ Sorolla


    I think inheritance should be abolished.

    why should the children or the wife’s of a hard working man who worked hard all his life and put his children through college and for the daughter who was not very bright Organise a sectorial course and then got the local councilor to get her a job behind the bar - why should these ungrateful family members get his stuff for nothing after all the hardship they put him through ringing him at all hours looking for him to pick them up from the disco

    the dependents can go and sh1te in my book



  • Registered Users Posts: 21,444 ✭✭✭✭ Strumms


    incorrect, most money has not all. But the fact in death.. the government come for another third of everything… dismal.



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  • Registered Users Posts: 202 ✭✭ RNFoxtrot


    And right now we don’t. But they’ll be those crying about anyone getting a single euro without them getting their cut. Vultures.



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