We're out!

[DaGaffer]

Plenty of ways to do it. Family trusts for house selling/buying. Similar thing for dodging inheritance tax (which I massively dissaprove of, either spend your money or be prepared to give it back).

Sorry, you disapprove of inherited wealth, or inheritance tax? Because if you're saying what I think you are (i.e. the former) that makes no fucking sense. Most people don't choose when they die, and an awful lot of people pass on assets rather than cash, when then become liable for death duties, which is massively unfair, when the much-loved family home has to be sold to pay the inland revenue.

 

[Chilly]

The former, indeed. I agree its a bit gay at times but its far better than letiing all the wealth stagnate. In the majority of cases if a home is so beloved it can be put into a family trust, frankly.

 

[Chilly]

Back to who? The government? To the lazy?

Off you fuck.

To reducing my tax bill. Off you fuck.

 

[DaGaffer]

Can't agree with you, I think inheritance tax is one of the most iniquitous taxes of all. It would be OK if the thresholds reflected up to date costs (of assets like houses etc.) but they don't; £325 grand is a joke.

 

[Chilly]

Can't agree with you, I think inheritance tax is one of the most iniquitous taxes of all. It would be OK if the thresholds reflected up to date costs (of assets like houses etc.) but they don't; £325 grand is a joke.

Depends entirely where you are, though. A flat rate is unfair, but creating a regional rate would be extremely difficult to set up and police. So you're saying that it's massively unjust that you can only inherit a third of a million pounds before paying tax? I think that's bollocks and an insult to 90% of the people in the country.

 

[DaGaffer]

How is it an insult to anybody? And where do you get 90% from? Like it or not, over half the population of England live in London or the Home Counties. Inheritance tax can affect enormous numbers of people. More importantly, its not like the money someone inherits falls out of circulation; the government has plenty of ways to tax that money further down the line. Personally I'd raise the threshold to £1M at least.

 

[MYstIC G]

Depends entirely where you are, though. A flat rate is unfair, but creating a regional rate would be extremely difficult to set up and police. So you're saying that it's massively unjust that you can only inherit a third of a million pounds before paying tax? I think that's bollocks and an insult to 90% of the people in the country.

Why should the state receive tax revenues on something that's been bought and paid for and already had tax paid on it just because said owner/taxpayer dies? It's bullshit. They should reform it so that if an asset is held by a beneficiary for 7 years past the time of death that no tax is due. That way if a family home is inherited it doesn't have to be sold if the family continue to use and maintain it but if they just want to cash out then it puts some of it back in circulation.

 

[Raven]

Depends entirely where you are, though. A flat rate is unfair, but creating a regional rate would be extremely difficult to set up and police. So you're saying that it's massively unjust that you can only inherit a third of a million pounds before paying tax? I think that's bollocks and an insult to 90% of the people in the country.

Why? What has a family fortune (that has already been taxed while being accumulated) got to do with anyone else? These days a third of a million pounds isn't that much, not when you factor in property, investments, savings etc.

My granddad had to sell property to keep him in an old folks home, despite the fact that he had paid (a lot) of tax in his life time. When he passed away the family had to sell yet more of his property to pay yet more tax to the thieving government.

 

[Scouse]

Of course the rich pay it you fucking idiot.

My millionaire mate doesn't. He pays about 5%. Legally.

(Although, I'll admit that 5% is way more than I earn).

None of his millionare mates do either.


But maybe I'm a fucking idiot for having first-hand experience of how wrong you are

 

[Job]

From Theonion American voices

The European debt crisis worries me, just because Germany tends to start wars on six continents whenever it gets itself into a financial bind.
Brian Alexander
Hat Trimmer

 

[ECA]

Plant that fucking tree:

 

[Embattle]

While Germany has some valid reasons for not wanting the ECBs role to change there is also the simple fact that with the ECB as the lender of last resort the German's won't be able to wield quite as much power in the EU.

 

[ileks]

My millionaire mate doesn't. He pays about 5%. Legally.

(Although, I'll admit that 5% is way more than I earn).

None of his millionare mates do either.


But maybe I'm a fucking idiot for having first-hand experience of how wrong you are

I'm happy to accept you are right if you can show me how he is paying 5% on income Scouse. I would genuinly like to know.

Chetan maybe you could enlighten me?

 

[rynnor]

There are some tax free investments - lumber or something I seem to remember - minimum 10 year investment - I'm sure there are others known by those who can afford specialist tax advice.

 

[throdgrain]

Surprised nobody posted this yet.

I think niggels a bit of a pratt, but I do enjoy his speeches at the european parliament.

This man is a legend.

 

[old.user4556]

The SNP need to fuck off with their independence.

 

[Job]

Scottish independence, fucking LOL.
They'd be back in 6 months
Ayee git any a tharrt money you wus givin us all leeft?

 

[Scouse]

I'm happy to accept you are right if you can show me how he is paying 5% on income Scouse. I would genuinly like to know.

Tell you what, I'll get a copy of his accounts and fucking post them here, eh?

/rolleyes

 

[throdgrain]

The SNP bloke was a joke wernt he? "If we sign up to the EU we can pretend we're a big country and not part of Great Britain". Wanker does no good for Scottish people, or for English people either. We both need each other.

 

[ileks]

Tell you what, I'll get a copy of his accounts and fucking post them here, eh?

/rolleyes

Nah just a brief outline of what he's doing would be fine.

You're living in a fucking dream world if you think he is paying 5% legally. Not even Warren fucking Buffet gets away with that.

Does he sell magic beans for a living?

 

[Job]

The rich dodge taxes, the doleys work on the side, it's the middle they squeeze.

 

[Scouse]

Not even Warren fucking Buffet gets away with that.

That would be the Warren Buffet who's taken my side of the argument eh?

Epic fail in choice of argument there.

What you're suffering from, ileks, is an overabundance of belief.

 

[old.Tohtori]

overabundance of belief.

I thought belief is only applied into religion in your book

 

[Scouse]

I thought belief is only applied into religion in your book

Not at all. I've stated clearly and often that humans are wired up as belief-machines. It's one of our biggest natural obstacles.

Religious belief, however, is one of the most dangerous cocktails ever conceived of by man.

The rich dodge taxes, the doleys work on the side, it's the middle they squeeze.

This is true. However, it's important to acknowledge that the squeezed middle is still better off than the doley scum.

We should all hate the rich* though


Edit: *Not actually true. We should hate the system that allows the rich to be what they are. And by that I don't just mean living in financial heaven.

 

[ileks]

I picked Buffet deliberately because he is the master of capital gains, and even he can't pull off what your supposed mates do.

No point carrying on, you've dodged the question repeatedly because you can't answer it.

 

[Chilly]

I picked Buffet deliberately because he is the master of capital gains, and even he can't pull off what your supposed mates do.

No point carrying on, you've dodged the question repeatedly because you can't answer it.

Warren Buffet cant get away with it because he's a public figure and is the subject of a lot of scrutiny from journos as well as the taxman. Someone with a mere 10 million a year to hide has more ways open that might be termed a bit more grey.

 

[ileks]

Yep probably true. How do you reckon it could be done though? You've got 10 million pounds of income (from whatever source you can think of) to legally avoid (or seriously reduce) tax on.

The reason I get so irritated by the "rich don't pay fair taxes" argument is that I never get an answer to that sort of question. If I got some evidence I would gladly change my opinion.

 

[old.Tohtori]

Not at all. I've stated clearly and often that humans are wired up as belief-machines. It's one of our biggest natural obstacles.

Religious belief, however, is one of the most dangerous cocktails ever conceived of by man.

Thanks for the clarification

 

[Scouse]

The reason I get so irritated by the "rich don't pay fair taxes" argument is that I never get an answer to that sort of question. If I got some evidence I would gladly change my opinion.

Don't be a dick ileks. I'm not an accountant. Even if you don't believe the 5% (and I couldn't give a fuck if you do either way) - my point about the rich avoiding taxes is still supported, not refuted, by Warren Buffet.


So, *there* is your evidence (which you evidently accept as you brought it up) - a rich man saying they don't get taxed enough and that it's not fair.


Considering you seem to think this is not the case - can *you* produce evidence to show otherwise?

 

[old.Tohtori]

I'd prefer a fair tax, instead of a flat % tax. Enforcing it and avoiding loopholes is ofcourse a pain, but ah well.

On tax issues, gotta love the stupidity of Finnish government at times.

TV license is going out the window, instead, everyone over 20k mark will pay a TV tax. Anyone below that don't have to(which is nice and all), but otherwise having to pay a tax for a TV if you don't have one seems a bit dodgy.