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. #1551
    Advisor NAKED N00B's Avatar
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    why? justification?
    Encourages spending.

  2. #1552
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by NAKED N00B View Post
    Encourages spending.


    By government? perhaps- or to get people to buy land and art before they die?

    that's not much of a justification

  3. #1553
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    By government? perhaps- or to get people to buy land and art before they die?

    that's not much of a justification
    Question: If I run a local restaurant and ten people come in and purchase food and drink totaling $200.00, and several of them work for government and use their government salaries to pay me, how do I know the difference in their money or their impact upon my business?
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Question: If I run a local restaurant and ten people come in and purchase food and drink totaling $200.00, and several of them work for government and use their government salaries to pay me, how do I know the difference in their money or their impact upon my business?
    I cannot see the relevance of that comment to the death tax issue. and taking money from someone so others can buy stuff is not a justification based on your implied theory that the owner or an estate won't spend as much as if the estate had been plundered and given to constiutents of the plunderer

  5. #1555
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Question: If I run a local restaurant and ten people come in and purchase food and drink totaling $200.00, and several of them work for government and use their government salaries to pay me, how do I know the difference in their money or their impact upon my business?
    Not knowing they were government employees. How do you know if they work in a government position that is PORKED IN, which has driven up you taxes in more ways than Federal Income Tax, which takes money directly out of your profits and persnal earnings?

    Just saying, HM...not trying to side with anybody's position...just responding to your hypothetical situation.

  6. #1556
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I cannot see the relevance of that comment to the death tax issue. and taking money from someone so others can buy stuff is not a justification based on your implied theory that the owner or an estate won't spend as much as if the estate had been plundered and given to constiutents of the plunderer
    NO. My comment speaks to your previous post which is why I reproduced it. How does money coming from a government source spend or impact differently than money coming from a private source?

    As you well know, my justification for estate taxes and getting rid of the 5 million dollar exemptions for them is based on on the reality that money coming into to someones pocket as new revenue should be taxed according to the same tax schedule as income. This would apply to wages, capital gains and inheritance or estate taxes.
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  7. #1557
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Removable Mind View Post
    Not knowing they were government employees. How do you know if they work in a government position that is PORKED IN, which has driven up you taxes in more ways than Federal Income Tax, which takes money directly out of your profits and persnal earnings?

    Just saying, HM...not trying to side with anybody's position...just responding to your hypothetical situation.
    How would anyone attempt to make that determination?

    I will concede that in any area of employment, there are people working who perhaps have pork jobs which are net entirely on the up and up. That would be true for government as well as the private sector. Prices of products could also have been driven up by such inefficiencies and waste. No doubt about it. When any of them spends money, there is not way to separate that or its impact upon who gets the money.
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  8. #1558
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Empirica View Post
    The normal knee-jerk response would be true, but those who have been paying close attention are well aware that it is false.

    Government's track record has been to spend every penny it taxes, prints, borrows and steals and is forever seeking more-more-more.
    This, of course, , IN MY OPINION, is absolutely true.
    But, its also true that the quality of life for the masses has improved...That is, for my wife and I (both disabled).. ..Now, if we go back in time and see that this is true (which I think it is) we would also see that the wealthy are also better off.
    Conclusion , our system is far from perfect, but it does work...
    The problem is, there are many who want the system to work better for themselves(greed) and the hell with the others...
    This I find to be disgusting !

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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    How would anyone attempt to make that determination?

    I will concede that in any area of employment, there are people working who perhaps have pork jobs which are net entirely on the up and up. That would be true for government as well as the private sector. Prices of products could also have been driven up by such inefficiencies and waste. No doubt about it. When any of them spends money, there is not way to separate that or its impact upon who gets the money.
    On my iPad...without keyboard so my clarity is a bit lacking.

    My point is that - no you aren't able to discern the money spent in relationship to people's employment. However, since you injected that some of the customers who spent money at your restaurant were government employees. You're right. There is no way to know if these government employees are porked in and their jobs aren't necessary. But the chances are - simply because they are government employees, they do inflate your tax liabilities, and possibly in more ways than just federal income tax, which therefore affects your net income.

    So...they cost you more to serve...technically.

  10. #1560
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    By government? perhaps- or to get people to buy land and art before they die?

    that's not much of a justification
    Private spending.

    And I absolutely think it's a justification.

    It's consumption; it's spending that makes an economy tick. Hoarding cash leads to an excess of savings, which is a net drag on the economy. Encouraging consumption spending or legitimate investment is a noble goal.

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