Brilliant article. Can clearly see why some young people still vote ffg. Their failures aren't as apparent when mammy and daddy sort out all of your financial issues, including housing...
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.
It’s not income. It’s inheritance. And it was taxed when it was earned by the parents.
Or should we tax every time a parent pays for something for their child? Tax pocket money? How much more do you think you’ll need before you don’t need someone else’s money?
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.
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/
It’s unearned income.
Why shouldn’t it be taxed like any other unearned income?
Or are you just opposed to all taxes?
So it’s still not enough for you.
You do realise that all money has been taxed multiple times?
It’s also pure bull. With the average life expectancy these days anyone getting significant inheritance is already well into their fifties or even sixties and have made their own life.
Those who earned money and paid for their house contributed enough in taxes to help the government hoist up the lazy and incompetent enough. You don get to take their stuff when they die. Vultures.
Inheritance tax should be done away with, period. Everywhere. It’s the most unethical tax of them all.
It’s actually theft in my book.
whatever a son or daughter inherit. Many levels, multiple levels of tax has been applied to that money already. Someone dies…and the government returns for yet another grab…
it is an absolutely miserable precedent, especially the rate at which it’s applied, 33%.
” ohh you just lost your Dad and your mother is dead ! Ok, cough up one third of their assets / your inheritance, everything they worked to amass, yes we’ve taxed it but the last grab, promise, one third please ! cheers ! “
It's not a dirty little secret. Passing on our wealth to our children has been done since the dawn of civilization.
Depends.
If you bought a house that's increased hugely in value due for example to public infrastructure being built nearby then you can't really complain about inheritance tax.
If you got a house cheaply or free from the public purse then you can't really complain.
Most houses have gone up crazily in value, due to no work on behalf of the owners. Just in the right place at the right time. Now in the event of a crash the prices will drop and so will inheritance tax.
And people want it both ways ....expensive housing they own AND somewhere their kids can afford to buy or rent.
It's a strange economy we live in and it is definitely geared towards homeowners.
Personally I wish my kids could afford somewhere of good quality to rent while they are young and free, and invest in education and businesses and not have to be haunted by the spectre of housing in this country or worry about that **** housing ladder and have to live with their parents for years.
It's the hole in this country where energy and dreams go to die.
Just another Guardian article saying those who earn and contribute should pay for those who don’t.
Thinly veiled socialist wealth grab
If mammy and daddy weren’t such failures you’d have a different opinion.
33% tax to be paid. On property paid for and taxed to death. Also property tax per annum. Especially unfair on an only child!
You do realise that under successive FF and FG governments, we have a more and more punitive inheritance tax compared to pretty much every other civilised country?
So every SF voter hasn’t had an inheritance you’re claiming??
Interesting theory.
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