Quote Originally Posted by slack_pie View Post
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Don't agree about inherited wealth though. A big part of the motivation for me to save money and build wealth is so that I can pass it on to my kids. It's my money, so it's their money, not the state's.
I 100% understand the notion of wanting to leave stuff to your kids. At the end of the of the day though, the vast majority of inherited wealth is unearned property wealth, a happy co-incidence of being able to buy a house at a good time and sitting back watching its value grow. I got on the ladder aged 27 with a 110% mortgage. Many young people will now never be in that situation, at least partially due to housing being concentrated in ever fewer hands, and inherited wealth reinforces that inequality.

Inheritance tax is deeply unpopular, even amongst people whose estate will never pay any, but it’s interesting that even after 14 years the Tories never got rid of it. The current system certainly needs reforming, but it’s a very fair method of redistributing wealth.