Last night on #bbcqt Rees-Mogg called for the abolition of Inheritance Tax.

You can understand why a man, such as Jacob, who lives in a 17th century, Grade 2 listed Manor House and has a personal wealth of over 100 million would ask for such a thing.

@Geri I will never understand why press paint Mogg as an upstanding if slightly eccentric politician. He is an extremist far to the right.
This idea on inheritance tax would cost £7bn. 90% of people would see no benefit at all and half of benefit of this tax cut would go to the 1% of public with estates worth more than £2.1 million or more.
https://ifs.org.uk/news/wealthiest-1-would-get-half-benefit-scrapping-inheritance-tax-average-tax-cut-ps1-million#
Wealthiest 1% would get half the benefit of scrapping inheritance tax, with an average tax cut of £1 million | Institute for Fiscal Studies

If non-spousal inheritances passed on next year were to be equally shared between all 25-year-olds, each would receive around £120,000.

Institute for Fiscal Studies
@Geri The desire of the rich and powerful to shield and bequeath their wealth seems to be world wide. On a smaller level, California voters opted in a recent plebiscite to allow parents to bequeath their homes to their children with no step-up in property tax to reflect the current value. (a 1978 initiative called Proposition 13 limited property tax to 1% of the price paid by the current owner. As a result, schools lack money, roads are crumbling and we have a housing crisis.)
@12thRITS fascinating. I don't quite understand the technicality of what you wrote but to my simple way of thinking,we can summarise this with: rich people are very greedy
@Geri That man has a very punchable face.
How a Secretive Billionaire Handed His Fortune to the Architect of the Right-Wing Takeover of the Courts

In the largest known political advocacy donation in U.S. history, industrialist Barre Seid funded a new group run by Federalist Society co-chair Leonard Leo, who guided Trump’s Supreme Court picks and helped end federal abortion rights.

ProPublica
@Npars01 bookmarked for later reading. TY for sharing, Nicole xxx

@Geri

Hi I have just left Toxic Twitter and I am looking for like minded people to join in conversations with.

I hate the Tories and I hate Reform UK more.
Time the Leaders of these rioters like Robinson, Farage, Braverman, Lee Anderson and Priti Patel were up in Court as well.

Following you, any chance of a Follow back?

@lyndamerry484 yes, I followed you back, Lynda

May I suggest you do an introduction post.

Also, follow this lady. She's the best @harriettmb

I hope you enjoy the friendly world of Mastodon xxx