View Poll Results: which best describes your view of the inheritance tax?

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  • There should be no inheritance tax of any amount of money or assets.

    84 54.90%
  • The first 5 million dollars should be exempt. After that the tax rate should be 35%.

    21 13.73%
  • The first 5 million dollars should be exempt. After that the tax rate should be 50%.

    12 7.84%
  • The first 1 million should be exempt. After that the rate should be 50%.

    19 12.42%
  • No exempt amount. Tax at 35% from the get-go.

    9 5.88%
  • No exempt amount. Tax at 50% from the get-go.

    1 0.65%
  • Abolish all inheritance. In other words, tax 100%.

    7 4.58%
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Thread: which best describes your view of the inheritance tax?

  1. #111
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    ric27's Avatar
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    Can you prove that they were/are envious? I cannot prove or disprove someone else's motives. Nevertheless, you are making assumptions.
    How about the poor man standing up for the right to become rich through hard work?


    But if you do become rich through hard work you need to pay a larger share of your earnings to the people." is essentially the Obama stance correct?

  2. #112
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by ric27 View Post
    How about the poor man standing up for the right to become rich through hard work?


    But if you do become rich through hard work you need to pay a larger share of your earnings to the people." is essentially the Obama stance correct?
    no


    ..........

  3. #113
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    I hesitate to support this tax, but a lack of inheritance tax creates an Aristocracy
    actually this is incorrect - the uberwealthy are able to protect their money from inheritance taxes. what an inheritance tax does is stop the creation of new multi-generational wealth; protecting the position of the "old money" against competition.

    Some people own farms or businesses, and can rack up $5 million in assets alone. These people aren't super rich. It's a tricky issue. I don't want to punish people who have work hard and saved. I just want to prevent the System we have now from existing.
    that is the position my uncle is in. his company are construction contractors, so equipment and facilities add up quick. If he and my aunt die, under current rules, the daughters would have to basically break up the business, fire all the workers, and sell off the pieces in order to be able to pay the tax.

  4. #114
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    There should never be an inheritance tax, it basically amounts to triple taxation. First off, all monies that went into the estate whether they be in the form of investments, ownership of a company, income, or royalties from an invention have already been taxed, then any gains from using the money wisely have been taxed again. The estate thus becomes the sum total of whatever was left over from the government taxing the revenue stream twice already. Then the government comes in and says that whatever is left is subject to a third tax due to no other merit than the original property holder no longer has possession of it. This is such a ridiculous mentality and should be abolished.

    A little background on my stance. I am still a licensed insurance agent but considering leaving my practice as I have lost my drive for what I do, mant agents use the inheritance tax to sell products to minimize estate shrinkage, it is legitimate but there are better methods to sell the products such as investment growth by freeing up dollars to be inherited using insurance policies(also legit). The CPA and legal lobbies love the estate tax because it complicates the tax code and forces the wealthy to hire professionals in this field to save what they can for their families due to the basic theft upon their deaths. And of course politicians love the inheritance tax because it's an easy class warfare sell and nets them even more freebies at someone else's expense.

    Basically the inheritance tax needs to be abolished forever, the income tax needs to be repealed in lieu of a national sales or flat tax, and the tax code should be simplified to never more than 10 pages for individuals of all tax brackets.
    if you are recieving an inheritance, then you are recieving income, and it should be taxed as such.

  5. #115
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by kenvin View Post
    If you get money you didn't have before you should pay taxes.

    Whether its from a lottery ticket, job, or inheritance.
    A dollar should be taxed only once: when you spend it.

  6. #116
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Luna Tick View Post
    Okay, unlike my other poll that was not about inheritance, this one actually is, specifically, the inheritance tax, aka the estate tax or derisively known as the death tax. It's about if you think there should be one and, if so, how much.
    Abolish all taxes of every sort what-so-ever, except a 20-25% consumption tax.

  7. #117
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Jerry View Post
    Abolish all taxes of every sort what-so-ever, except a 20-25% consumption tax.
    That would certainly be an excellent tax policy if your desires were to
    1) make significant cuts in the tax payments of the wealthy
    2) make significant increases in the tax payments of nearly everyone else

    If your goal is to increase the divide between classes in America and achieve the effect of creating even more animosity and vitriol in our body politic, a consumption tax is the way to go.
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  8. #118
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    That would certainly be an excellent tax policy if your desires were to
    ....have everyone only pay their fair share.

    If you want to pay lower taxes, spend less. It's that easy.

  9. #119
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by randel View Post
    if you are recieving an inheritance, then you are recieving income, and it should be taxed as such.
    ah. so you would be in favor of job-destruction in the name of fairness, and protecting the uber-wealthy from competition, then?

  10. #120
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    ah. so you would be in favor of job-destruction in the name of fairness, and protecting the uber-wealthy from competition, then?
    it is income being recieved, and should be taxed as such, it should be treated the same as the paycheck i bring home every week....what i'm in favor of is fairness...why should money that someone 'inherited' be treated different than ordinary earned income?

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