Quote Originally Posted by baggieal View Post
So you say a child receiving a deposit for a first property is privileged even though a parent is saving hard to do this? So is a parent themselves privileged if they spend equal to a deposit on a flashy car for self obsession? Is a child privileged if a parent pays or contributes around 10K for the daughters wedding? Can?t see the difference personally! Choices and more choices!

Many would argue inheritance tax has already been taxed albeit any capital gains between buying and selling has not. Should any money gifted or lottery win be taxed to a child therefore in your eyes?

I sort of get where you?re coming from if a parent is wealthy and hands their child a penthouse flat. Many parents though may choose to cut back on flashy cars, very nice clothes and other mod cons to help their kids. I do know a few kids who go to a local private school where those parents scrimp and save and forego holidays. In that case are the kids privileged or just lucky they have wonderful parents putting their kids education first before their own needs?
Absolutely Al, they are privileged. I hope my kids will be too when they're older. They're privileged because they are born into opportunity when most aren't as there parents can't afford to. The privilege is with the child not the parent, so you're right about choices. You could be born to a millionaire who gives you nothing, then you aren't privileged. Reality is, some people will scrimp and work their socks off but still not be able to afford to pay the deposit on their childs first house.

As I said before Al, I don't believe in all wealth being passed on generation to generation, otherwise we'll have the same inequalities we have now. You should receive what you deserve in life and there would be more money to go around everyone else if we taxed inheritance more. The basic standards of living are poor for a lot of people, such as pensioners with a lot in poverty. I don't think it's right that some people inherit huge amounts of assets while some people can barely afford to live. Same goes for Farmers, if. you're going to inherit millions in assets, pay a bit back!