Don't think we quite got to why inherited wealth is bad apart from taking the ad hominem approach with its recipients...
Give 10 people who work in non-managerial "unskilled" roles £1000 each. They will almost definitely spend that within a few months, a year tops. More spending = stronger economy. That £10k of spends may also translate into extra income downstream, after which it will get spent again...
Give £10k to a C-level exec whose kids are already adults and they'll dump that cash into savings where it will do a grand total of fuck all for the economy.
Cutting tax credits and other government welfare is just one of the ways Gideon and Hameron screwed us all over long into the future, avoidable with a basic understanding of Keynesian economics and the role of government spending as a catalyst of the economy.
Also, untaxed inheritance increases the socio economic divide by keeping money in the families of the already affluent. This would be compounded by our already dysfunctional housing market.
Don't think we quite got to why inherited wealth is bad apart from taking the ad hominem approach with its recipients...
Give 10 people who work in non-managerial "unskilled" roles £1000 each. They will almost definitely spend that within a few months, a year tops. More spending = stronger economy. That £10k of spends may also translate into extra income downstream, after which it will get spent again...
Give £10k to a C-level exec whose kids are already adults and they'll dump that cash into savings where it will do a grand total of fuck all for the economy.
Cutting tax credits and other government welfare is just one of the ways Gideon and Hameron screwed us all over long into the future, avoidable with a basic understanding of Keynesian economics and the role of government spending as a catalyst of the economy.