Rishi Sunak plots £7billion tax cut for richest 4% as he threatens Universal Credit raid

[pellinore]

Rishi Sunak is considering slashing inheritance tax worth £7billion for some of the wealthiest families in the country.

Fewer than 4% of people have enough cash to even pay the tax, with the vast majority of estates falling below the threshold - which can be up to £1million for a couple.

Meanwhile the Prime Minister has threatened to whisk hundreds of pounds away from millions of desperate families struggling on Universal Credit. He has refused to commit to inflation-proof benefit rises next year, arguing that payments had already gone up by a “huge amount”.

The PM now faces a backlash for focusing on tax cuts for the rich instead of helping the poorest families in the country. According to Government figures, just 3.7% of all deaths in the financial year 2020-21 resulted in an inheritance tax charge. As inheritance tax is levied at 40% and is applied to the super-rich, it raises a huge amount of public money even though it is paid by few people.

https://archive.ph/lFxC7

Edited September 27 by pellinore

[Electric Scooter]

7 hours ago, pellinore said:

Rishi Sunak is considering slashing inheritance tax worth £7billion for some of the wealthiest families in the country.

Fewer than 4% of people have enough cash to even pay the tax, with the vast majority of estates falling below the threshold - which can be up to £1million for a couple.

Meanwhile the Prime Minister has threatened to whisk hundreds of pounds away from millions of desperate families struggling on Universal Credit. He has refused to commit to inflation-proof benefit rises next year, arguing that payments had already gone up by a “huge amount”.

The PM now faces a backlash for focusing on tax cuts for the rich instead of helping the poorest families in the country. According to Government figures, just 3.7% of all deaths in the financial year 2020-21 resulted in an inheritance tax charge. As inheritance tax is levied at 40% and is applied to the super-rich, it raises a huge amount of public money even though it is paid by few people.

https://archive.ph/lFxC7

I believe in having a country where we don`t punish the super successful for their success but help and support them instead.

With the super rich they have already been taxed once when they generated their wealth, its not right how that wealth should then be raided at a rate of 40% before it is passed onto their children. I would like to see a 40% inheritance tax for those with less than £500,000 in wealth, 20% for £500,000 to £1 million, 10% for £1 million to £100 million, and 0% for those with more than £100 million.

With Universal Credit I rather suspect that I agree with you. I propose paying them a full wage. In return they should have to work 4 days per week, have a 5th day free for any interviews, and the work would be state appointed. If nothing can be found for them to do then they can cut the grass, sweep leaves, pick up litter, clean toilets, etc. A condition of their Universal Credit should be that if needed they will be conscripted first in any conflict or made to do community policing. They should also agree to routine drink and drug tests.

Finally in their state appointed roles we do not want them to enjoy themselves because that won`t motivate them to find a proper job. So those managing this new service should be trained and instructed to give them a hard time.