"inheritance tax is only paid by the richest 3% of people"
Tj, i agree that we shouldn't give execcsive cuts to the richest few in favour of benefitting lower-earners who really need the break, but i think IH tax on homes is wrong whoever it affects.
why should my kids one day pay tax on something i hope to give to them, something i have bought and paid for out of taxed income? it's robbery, simply dual-taxing.
and that 'richest 3%' stat, is that correct? many homes bought a decade or more ago now by fairly normal earners are now worth over the threshold of £320k +. those people who own them may have retired from £30-40k a year jobs, is that really the richest 3%?
"Inheritance fosters privilege"
oh c'mon, that's almost commie speak 🙂 is ownership theft? not necessarily. social injustice and cultural bias foster priviledge, by protecting access for the few and all but excluding many. inheritance is about ownership and family, it can help keep families together in some areas where younge people now can't afford housing. tax won't disrupt this too much, but it's still a dual tax. i may want to pass on within my family an heirloom or a house, if i own them both it's my call surely?