Is it just me or does anyone else feel that David Cameron missed a wide-open goal recently when trying to wiggle his way out of the Panama Papers fiasco?
His father set up an off-shore vehicle to avoid inheritance tax (IHT). Surely, the point here is not that he did it but that he, like so many others, are forced to do it in the first place. It is an immoral double taxation and should be scrapped immediately. The open goal that Cameron missed is not taking that opportunity to state the unjust horror of this tax and vow to repeal it.
Wealthy countries have always seen generational trickle-down wealth. It’s what gives the next generation a leg up and aids them in exceeding the achievements of their parents. This is what enables a nation to grow wealthier and more successful. Take that away and everyone starts from scratch again. It’s like a reset button.
The truth is that there are no parents in this country, of any income bracket, who do not want their children to do better than themselves and who want to give them a leg-up in life. This is one of the most fundamental of human instincts. It is also among the most selfless and morally admirable. Indeed, the urge to look after our own families is a hugely powerful incentive to work hard.