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. #1591
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Tythor Zeth View Post
    On the other side, if a gift would be split into several gifts once a year, one could avoid taxes if each smaller gift does not exceed $13.000, so should that affect the minimum amount of money needed for inheritance tax? What do you think?
    The current $5 million exemption isn't going to stand the test of time and neither is a rate of less than 50%. My spouse and I each give to our two children and their spouses $12,500 per year. That's a way to drain at least $100K per year out of our eventual estate, thereby assuring that it will not be subject to tax on any level. It won't answer all our estate tax problems but it's one part of an overall approach.

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

    anything more then 2.5 million in inheritance should be taxed, losing a few thousand will not be the end of the world.
    "Conservatism is the blind and fear-filled worship of dead radicals."
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  3. #1593
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by iacardsfan View Post
    anything more then 2.5 million in inheritance should be taxed, losing a few thousand will not be the end of the world.
    Might be able to do better than a simple number. How about the exclusion equals fifty times the previous year's median household income? Give old Richie Rich a stake in how the middle class is faring for a change.

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

    Quote Originally Posted by Cardinal Fang View Post
    Only because the tax rate on the first $13,000 of annual gifts from one donor to one recipent is 0%. If you gave your brother $15,000 in a year, you WOULD owe gift taxes on $2,000. Gift and inheritance taxes are actually the same thing.


    You would of course pay all applicable sales taxes associated with purchasing the car to begin with, and you would then pay gift taxes on the $12,000 worth of car that is above and beyond the 0% gift tax bracket.


    Your estate will owe federal inheritance tax only to the extent that the value of the entire estate exceeds $5,120,000. State inheritance taxes may of course be a very different story. It matters where you reside when you die, so choose carefully.
    Quote Originally Posted by iacardsfan View Post
    anything more then 2.5 million in inheritance should be taxed, losing a few thousand will not be the end of the world.
    "The end of the world" is completely irrelevant. It's about what is morally the right thing to do. Taking away over 50% of a billionaire is not the end of the world to his children but it is, at least in my opinion, not the right thing to do.
    Quote Originally Posted by haymarket View Post
    First, my drink is raised to you in salute since it is rare indeed when anybody here admits they have thought about an issue and changed their mind.

    Second, My concern, and I suspect the concern of most, is not in taxing gifts - even a $13,000 gift - but taxing a true transfer of an estate. If somebody wants to go through the process of passing on ten grand every year from twenty years to their kid - that is something I am not going to squawk about too loudly. I can live with that.

    When it comes to actually inheritance of an estate - that money should be taxed as if it were any other sort of new income to the person getting it.
    Thanks, and thank you for staying calm while trying to convince me. That's a rare thing in political debates on the Internet.

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

    History of Estate Tax Rates

    Estate tax rates through history to provide some perspective on how low the rate is as compared with most of its history.

    "As of today in 2010 the estate tax is repealed for this year. The exact nature of the estate tax in 2011 and later is currently being debated. Below I look at the history of the estate tax from 2009 and before."

    "Here isa graph showing the top estate tax rate from 1916 to 2009."




    "As you can see the top rate rose from 1916 to 1940's. From 1941 to 1976 the top rate was 77%. Since the 1970's the top rate has been dropping. Note that this is the TOP rate and did not apply to the entire estate."

    "There is an exemption for the estate tax and estates do not owe any tax on amounts below the exemption. The Exemption has gone up over the years." "Heres a graph of the exemption / personal income":



    History of Estate Tax Rates | Free By 50
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by haymarket View Post
    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.

    I think it is disgusting that those who pay the most income taxes during their lives are the only one parasatized by the death tax when they die

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

    Quote Originally Posted by Cardinal Fang View Post
    Fails to address the point, most specifically YOUR OWN regular and habitual "sucking at the public tit".
    most of your posts are pretty idiotic but claiming I suck at the public tit is beyond brain dead

  8. #1598
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Catawba View Post
    History of Estate Tax Rates

    Estate tax rates through history to provide some perspective on how low the rate is as compared with most of its history.

    "As of today in 2010 the estate tax is repealed for this year. The exact nature of the estate tax in 2011 and later is currently being debated. Below I look at the history of the estate tax from 2009 and before."

    "Here isa graph showing the top estate tax rate from 1916 to 2009."




    "As you can see the top rate rose from 1916 to 1940's. From 1941 to 1976 the top rate was 77%. Since the 1970's the top rate has been dropping. Note that this is the TOP rate and did not apply to the entire estate."

    "There is an exemption for the estate tax and estates do not owe any tax on amounts below the exemption. The Exemption has gone up over the years." "Heres a graph of the exemption / personal income":



    History of Estate Tax Rates | Free By 50


    that is like trying to justify the Jim Crow laws by claiming that they were not as bad as the years of slavery

  9. #1599
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by iacardsfan View Post
    anything more then 2.5 million in inheritance should be taxed, losing a few thousand will not be the end of the world.

    unless you are paying the taxes don't tell others who do what is the end of the world

    and its not a few thousand in many cases

    until and unless you pay the same amount as those you think shouldn't whine you have absolutely no standing

  10. #1600
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    that is like trying to justify the Jim Crow laws by claiming that they were not as bad as the years of slavery

    We know already, that you expect a zero tax rate and still have the government services that allowed the creation of your wealth and the protection of it.

    The far right wing expects something for nothing. You've made your point.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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