RT by @CarolineLucas: Of all the arguments against inheritance tax, the "it's a double tax" one seems most baffling. If a bit later I go and buy a coffee, I'll be paying VAT on a purchase financed by money already subject to income tax and NI. What's so special about IHT?
🐦🔗: https://nitter.cz/peterwalker99/status/1739966505549500833#m
[2023-12-27 11:08 UTC]
@CarolineLucas petrol paid for on taxed income. Then there’s the double tax of fuel duty and then the triple tax of VAT on top
@CarolineLucas My issue with inheritance tax is those with most never pay it. EG the King
@CarolineLucas as most inheritance tax is paid on the estates of the very wealthy who’s to say all of it was taxed in the first place?
@CarolineLucas And therein lies the iniquity of VAT. Double taxation for those who’ve paid income tax, tax for those who haven’t managed to reach those heady heights. Who’s the worse off for that?
@CarolineLucas Not to mention fuel duty, excise duty (alcohol), stamp duty (or equivalents), vehicle excise duty and doubtless more.