Why are some people too dumb to understand that billionaires buy farms because they never have to pay tax, and that if you don't tax it, farmland will keep increasing in price and only be owned by billionaires. It's not difficult. - ThreadSky

bladeofthes.bsky.social • 7 days ago

Why are some people too dumb to understand that billionaires buy farms because they never have to pay tax, and that if you don't tax it, farmland will keep increasing in price and only be owned by billionaires.

It's not difficult.

Comments

ianlineham.bsky.social•7 days ago

If an asset valued at £10mn generates £50k it's not worth £10mn unless there another reason
If an asset generating £50k is properly valued at £1mn, there's no IHT
Seems simple?

lesleymac.bsky.social•6 days ago

See JD Vance https://www.snopes.com/news/2024/10/08/jd-vance-acretrader/

tintinthinks.bsky.social•7 days ago

What about the genuine farmers who inherited family farms, and whose livelihood depend on them?

leedsjohnlufc.bsky.social•6 days ago

The children can inherit, tax free, 7 years before death.

mrsaristotle.bsky.social•7 days ago

Depends upon the farmer, small farmers will be exempt and if it is a large farm then why shouldn't they pay Inheritance Tax just like the rest of us lucky enough to have rich parents.

viscountfishpond.bsky.social•7 days ago

Frankly, if their assets exceed the effective 3 million threshold for a married couple then who cares? They get a significant discount on the rate and ten years interest free to pay off the tax. This is not something afforded to the rest of us. Seems entirely fair to me.

jmw44.bsky.social•6 days ago

I do so agree. Their protests are boiling my blood

tritim.bsky.social•6 days ago

And that farms would have never incurred inheritance tax if this hadn't been removed in the first place, which encouraged the super wealthy to buy farmland in order to avoid tax, which caused the cost (not value) to skyrocket.

reinsoffire.bsky.social•7 days ago

"Classic BBC"

bjbrightwell.bsky.social•7 days ago

There seems to be perception that should some land need to be sold to pay death duties that the land will disappear. Some farms will get smaller others bigger. It’ll still be producing food.

leedsjohnlufc.bsky.social•6 days ago

They simply pass ownership to their children!

kaitensatsuma.bsky.social•7 days ago

Oh, serfdom?

Again?

After we passed Industrialization?

davidabowden.bsky.social•7 days ago

Poor education leads to an inability to do the mental arithmetic necessary to see the poor newspapers and tv news to be misleading.

clairepurplespirit.bsky.social•6 days ago

I agree in part, such as the UK royal family. Will they really pay though? A good accountant ensures they don’t!
Sadly family farms are being penalised. The reality for them is they are asset rich and cash poor. Then when forced to sell after a death they rent the farm from the billionaires. 😡

texasjule.bsky.social•7 days ago

Apparently it is!

rand0lf-rand0lf.bsky.social•7 days ago

https://www.foodingredientsfirst.com/news/uks-new-deal-for-farmers-union-leader-dismisses-proposals-as-insufficient-for-industry-survival.html It's not just 1 issue...

lazytitan258.bsky.social•7 days ago

I didn’t see them doing weekly protests when the tories were in govt, which is strange considering they cut the direct payments and are responsible for losing the EU subsidies?🤔

What do you think the difference could be?🤔🤦

rand0lf-rand0lf.bsky.social•7 days ago

And I recalled this from earlier in the week. Which seems to have been largely ignored by the other outlets... https://www.bbc.co.uk/news/articles/cg5y9njl00do

rand0lf-rand0lf.bsky.social•7 days ago

Good morning Titan. TBH, its a difficult situation which I'm unqualified to address and I'm at risk of overstepping my knowledge base. I was reading this earlier before I fell asleep at table again. It seems balanced.
https://policy.friendsoftheearth.uk/insight/its-time-we-paid-farmers-properly-and-more

gargenroo.bsky.social•7 days ago

Maybe one day they’ll let us peasants work on their farms; not for pay but for sustenance.

cindypool.bsky.social•7 days ago

I’m a flipping idiot!

boost354.bsky.social•7 days ago

antifa-operator.bsky.social•7 days ago

Indeed. If the price keeps increasing with no ceiling, what do people think is going to happen? That we'll all make more money in line with those infinite increases? 😂 Bitch, wages been stagnant my entire lifetime.

thnksmga.bsky.social•7 days ago

I thought they wanted to set up factory farming

mrsaristotle.bsky.social•7 days ago

Apparently it is very difficult

dreams-unwind.bsky.social•7 days ago

It doesn't matter what they buy, THEY NEVER HAVE TO PAY TAXES. When are we going to End This?

happysisyphus22.bsky.social•7 days ago

John Steinbeck wrote about it in 1939.

kaceyvarren.bsky.social•7 days ago

I live in a remote farming community in the highlands. The vast majority of local farmers support or attended a local protest. Local paper is full of how awful the government is persecuting farmers etc....when the farms are tiny and won't be affected at all.
Highland estates would be affected....

pag10.bsky.social•7 days ago

melissapudding.bsky.social•7 days ago

How many also know that for those tractor demos, they are claiming the tractor, the fuel all as a tax deductible business expense. So we’re paying for it!

andyprentice.bsky.social•7 days ago

Think the fuel is red diesel and not to be used on public roads except where going from farm to field. Where’s HMRC when you need them

melissapudding.bsky.social•7 days ago

Hiding?

andyprentice.bsky.social•7 days ago

Just following orders.

profsensible.bsky.social•7 days ago

Very good point.
Also, if family farms can get a tex exemption, why can’t family businesses?

you-s.bsky.social•7 days ago

Farmland has become a tax shelter for billionaires, benefiting from subsidies and exemptions while driving up prices, locking out small farmers. Without taxation reform, wealth concentration will turn land ownership into a feudal system. Governments must act to prevent further economic imbalance.

redmoonsanctuary.bsky.social•6 days ago

They won't act, as they govern for their own kind and not for us. But yes. Small people like us have to have a family member work in town to pay for the rates, compulsory insurances, repairs, equipment, mortgage etc which these guys can just write off, but we can't offset!

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