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Letter to local media - Universal Inheritance
#1
Now this country has voted to disengage from the wider European community, it is time for us to look to the future direction of this nation both economically and socially.


As a first step, let us reform UK capitalism with a form of UK Universal Inheritance, starting at £1,000 a year for UK-born UK 25 year old citizens in Glasgow as well as in London, financed and clawed back from the more fortunate by a progressive tax on cumulative lifetime receipt of capital gifts and inheritance. 

An opaque inheritance system has allowed the top 10% of this nation’s inhabitant to accumulate 44% of the nation’s wealth. It was more often than not never earned by its recipients, but passed from generation to generation using loop-holes and exemption in inheritance taxation.

To paraphrase the biblical parable, this is inherited money which is not working for the common good of society.

Under a Universal Inheritance scheme, such wealth would be taxed at 25% after taking allowance for a life-time allowance on giving. Even with an allowance set as high as 200k pounds, it would still exclude most professional people and business owners who have earned, and not inherited wealth.

This radical move will result in the levelling up and levelling down of the outrageous inequalities of inherited capital ownership in each new generation which is essential to the future of our country, and is for other countries to follow. 

The Liberal Party exists to build a Liberal Society in which every citizen shall possess liberty, property and security, and none shall be enslaved by poverty, ignorance or conformity.

The creation of an opportunity society is the first step we must take in our nations post EU adjustment.
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Letter to local media - Universal Inheritance - by ReadingLib - 06-28-2016, 06:57 PM

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