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. #1571
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    You are confusing a sales tax upon the car - which is different than a income tax on my salary or an inheritance tax upon the transfer of wealth. They are two different things. We all pay lots and lots of taxes on different things with the money which is our main source of income that has already been taxed in a different fashion or through a separate tax.
    We are talking about the death tax or as you like to charitably call it, the estate tax. There is no federal inheritance tax in the USA federally

  2. #1572
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Again, for a time beyond count, you bring up this "exchange of value" stuff. Where does this come from? Why are you treating it as some rule or law when it is neither? This is the same irrelevancy that has been brought up before and smashed and trashed before. It means nothing.

    New money going into someones pocket or account is the same regardless if it is wages, capital gains or inheritance. It is impossible to tell the difference without knowing the source since it looks the same and spends the same. The only difference is the source and the preferential and discriminatory treatment one receives that the other does not receive.

    because you are the one who wants to treat a bequeath as income and taxed the same. and I love how you think any receipt of something is "Preferentially treated" unless it is subject to a confiscatory progressive tax rate. Your posts demonstrate that you think the rich should pay higher and higher taxes on anything no matter what it is

  3. #1573
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    because you are the one who wants to treat a bequeath as income and taxed the same.
    I realize this wasn't addressed to me, but I feel the same (that inheritance should just be treated as income) so I thought I'd ask a question.

    In your mind, what makes inherited money enough different than money earned as income that it should be treated as a special case in the tax code?
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  4. #1574
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by molten_dragon View Post
    I realize this wasn't addressed to me, but I feel the same (that inheritance should just be treated as income) so I thought I'd ask a question.

    In your mind, what makes inherited money enough different than money earned as income that it should be treated as a special case in the tax code?
    IT should have no tax consequences

  5. #1575
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    Re: which best describes your view of the inheritance tax?

    Tythor - I have a question for you.

    Let us take three American citizens.

    case #1 is Ed Vogel, a professional athlete who makes $5 million dollars a year in wages. His official tax bracket is 35%. With no deductions, he will pay over $1,600,000 in federal income taxes.
    case #2 is Marcie Bundy, she does not work but gets all her income from long term capital gains. She made $5 million dollar this year in long term capital gains. Her tax bracket is 15% and she will pay $750,000 on that same five million that Ed Vogel paid over twice as much on.
    case #3 is Mike Shelby, he did not work not had any capital gains but he inherited $5 million from his deceased parent. He pays ZERO, NOTHING, not one thin dime on that amount.

    So we have three American citizens, all of which put five million new dolars into their pockets or accounts. It spends the same and looks the same and if nobody told you the source, nobody could tell you the difference if it were in three piles of 5 million dollars each.

    But because of preferential treatment and discriminatory laws, one pays nothing on that same five million, one pays out $750,000.00 and the third pays over twice that - assuming that all three have no deductions.

    Now here is my question Tythor - why should Ed Vogel, an American citizen and voter be willing to support what just happened to him? And why should every other of the scores of millions of Americans be willing to support such a system that favors others and not themselves?
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  6. #1576
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    IT should have no tax consequences
    You failed to answer the question you were asked by Dragon.

    In your mind, what makes inherited money enough different than money earned as income that it should be treated as a special case in the tax code?
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  7. #1577
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    You failed to answer the question you were asked by Dragon.

    In your mind, what makes inherited money enough different than money earned as income that it should be treated as a special case in the tax code?
    You would have to ask someone who justifies a tax on income which I do not so MASSIVE FAIL on your part

    and as to your idiotic analogy, those making earned income of the level you talk about are almost always going to have investment income as well and will leave a taxable estate so they aren't the ones calling for more taxes on what they have earned. rather its the uber rich trying to appeal to people like you and those who have not succeeded financially who are convinced by rich power hungry left wing elites that they should be upset with those who are prosperous enough to have enough wealth to draw the spite of the envy class and the pimps in the democrat party that pander to them

  8. #1578
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    because you are the one who wants to treat a bequeath as income and taxed the same. and I love how you think any receipt of something is "Preferentially treated" unless it is subject to a confiscatory progressive tax rate. Your posts demonstrate that you think the rich should pay higher and higher taxes on anything no matter what it is
    You are ignoring the merits of the issue and instead opting to attack me for motives you ascribe to me without any substantiation.

    Money going into someone's pocket or account is money going into someone's pocket or account. It looks the same, smells the same, spends the same and if you put in in big piles of single dollar bills, nobody could accurately which came from income, which came from capital gains or which came for inheritance. The distinction the law makes is a legal one and does not change the reality that all three are new money going into the account of a new individual.

    I simply want the rich to pay the same on their new money - regardless if its source is wages, capital gains or inheritance as anyone else would subject to the same tax schedule on their wages. That is the very definition of fairness and tax justice.
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  9. #1579
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    You would have to ask someone who justifies a tax on income which I do not so MASSIVE FAIL on your part

    and as to your idiotic analogy, those making earned income of the level you talk about are almost always going to have investment income as well and will leave a taxable estate so they aren't the ones calling for more taxes on what they have earned. rather its the uber rich trying to appeal to people like you and those who have not succeeded financially who are convinced by rich power hungry left wing elites that they should be upset with those who are prosperous enough to have enough wealth to draw the spite of the envy class and the pimps in the democrat party that pander to them
    Nobody asked you to justify a tax on income. You were asked to identify the justification for the law treating wages and inheritance or capital gains differently. I believe that is what you might call a legal question and as an attorney your opinion would be interesting.

    I have asked you before to not attack me personally by pretending you know my financial situation. I ask again.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    Its amazing the lengths some go to to try to justify taking more money from others
    Fails to address the point, most specifically YOUR OWN regular and habitual "sucking at the public tit".

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