old age tax

[jazzactivist]

Hi all! I heard on the radio this morning that a proposal is being put forward for everyone to pay extra tax in the form of an "old age" or "inheritance" tax so that eledrly people don't have to sell their home to pay for their care. It said that currently this isn't required if one of a couple is still living in their home and the other needs care. But also so that the children of elderly people don't lose out on inheriting the property that they view as rightfully theirs.

Is it just me or is buying a house not a form of saving for your future needs, when you may no longer need a big house but might need a smaller one with paid support or to go into residential care? It seems to me that children grow up and buy their own homes and so shouldn't be reliant or expecting to get a big inheritance from mum and dad's hard work? What do you think?

[dragonfly]

That would be ok if everyone paid for their future needs but if you don't work or if you work and spend your money and not put it into property you get into residencial care homes free. It seems to me the harder you work and more you save the worse you are treated. We have worked hard all our life, paid tax on money earned, saved and spent on purchases and I don't want half of what I own going to the government when i die. I have a disabled child and I want him to be financially secure when I am gone and can't look out for him. I think this government is trying to get our money by any means it can. I don't understand the new tax they are proposing, isn't it just taking extra money from us during our working life instead of at the end.

[Gentian]

I agree with you DG. you see all thse folk who don't save and get all the hand outs and because we have looked after our money we are penalised. I could go on but I will get more angry.