Our tax system needs a bold overhaul, not a cut in inheritance tax Letters
about 2 years in The guardian
Cutting a tax that only the most affluent of estates pay is politically, morally and economically wrong, writes Thomas Nurcombe. Plus letters from David Murray, Les Bright, Richard Baynes and Val SeddonSlashing inheritance tax is completely the wrong priority for the government (Hunt warned against cutting tax for wealthy while making stealth raid on 36m workers, 17 November). At a time when ordinary working people are facing the brunt of taxation, cutting a tax that only the most affluent of estates pay is politically, morally and economically wrong.Reducing the tax will further reward the luck of birth rather than encouraging hard work and innovation. If the government has the fiscal headroom, then reducing taxes on earned income, instead of on wealth, should be its priority. Continue reading...