mistermack wrote:This argument that the money has already been taxed is totally ludicrous.
When you buy anything, it's taxed again. Money is taxed whenever it changes hands, except for when you buy food.
In fact, people who inherit vast sums get a huge tax break at the moment.
If you worked for that money, you would pay tax. If it's dropped in your lap, you seem to think you should pay nothing. In my view it's income and should at least be taxed as income.
This leads to a ridiculous situation. Imagine a farmer who had two sons, one working from dawn till dusk, gets paid £30,000 and pays full tax on it.
The other son does nothing, but he's the favourite. The father GIVES him £100,000.
Your argument would have him paying nothing, and the other paying full income tax.
Exactly, because I don't believe that the state has the right to tax every single transfer of money, in the first instance. Secondly, if a person wants to disinherit one son and give it all to another, that is his right. The state's right to tax is limited. My country is seeing tax after tax being imposed. Money belongs to the person who earned it.
