UK government set to issue "death tax"
As we covered in one of our earlier articles, the UK government is set to push through a so-called "death tax" which will see a one-off levy charged against all estates in the UK. While the proposed levy is being put forward as a way to spread the ever increasing cost of home care for the elderly it is being seen by many people as an attack on the rich. There is no doubt that a higher proportion of Conservative party voters will be hit by the "death tax" compared to the traditional Labour party supporters. But should those who can afford to pay be forced to pay?
This issue of being able to pay and being forced to pay is something which has been going on for many years with the tax system in the UK effectively penalising those who have worked their way up the income ladder and perhaps taken on their own businesses. In reality those at the bottom end of the income ladder are not in a position to significantly boost the UK government's tax income while those at the higher end may well have more of a "buffer" between their expenses and income. However, the fact is that the more income you earn the more expensive your cost of living is likely to be.
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