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. #1631
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    some profound bit of nothingness from the Unionista position? anything for the government to take more money from people who are more successful than the Unionista types?
    People give you facts and reality and you make personal attacks upon them for it. That is not debate.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    some profound bit of nothingness from the Unionista position? anything for the government to take more money from people who are more successful than the Unionista types?
    Perhaps, Turtle, you would be a lot happier, with less money and lower taxes..
    You remind me of a certain character in Mr Dickens " A Christmas Carol".

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

    Quote Originally Posted by TurtleDude View Post
    Death should not be a taxable event and wealth in a family should not be taxed when transferred from one family member to another unless clear income from an income generating activity. The government already takes too much from the only people hit with the death tax
    Well said. This is the exact same reason I oppose taxes on inheritance. I don't agree that wealth being transferred from one family member to another is the same as wealth generated from economic activity. They just seem qualitatively different. I would definitely support any move to eliminate inheritance taxes altogether.

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

    Quote Originally Posted by Centinel View Post
    Well said. This is the exact same reason I oppose taxes on inheritance. I don't agree that wealth being transferred from one family member to another is the same as wealth generated from economic activity. They just seem qualitatively different. I would definitely support any move to eliminate inheritance taxes altogether.
    So you really believe that a person can die, pass on stocks valued at, say, 6 million dollars, with a basis of 1 million, and then cash those stocks an NO taxes have ever been paid on the 5MM income. That's absolutely not right. Anyone else selling those stocks would be subject to tax on the income. Why sould an heir be exempt?

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  5. #1635
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Well said. This is the exact same reason I oppose taxes on inheritance. I don't agree that wealth being transferred from one family member to another is the same as wealth generated from economic activity. They just seem qualitatively different. I would definitely support any move to eliminate inheritance taxes altogether.
    How so? The money looks the same stacked up in piles of ones or tens. It smells the same. It spends the same. It enriches the owner the same. It adds the same value to the new owner. Just how is it qualitatively different?
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Well said. This is the exact same reason I oppose taxes on inheritance. I don't agree that wealth being transferred from one family member to another is the same as wealth generated from economic activity. They just seem qualitatively different. I would definitely support any move to eliminate inheritance taxes altogether.
    Quote Originally Posted by haymarket View Post
    How so? The money looks the same stacked up in piles of ones or tens. It smells the same. It spends the same. It enriches the owner the same. It adds the same value to the new owner. Just how is it qualitatively different?
    Oh yes, it's the very same money. But we are not taxing the money, we are taxing the transfer of this money from one person to another. And I just don't think a parent giving money to his children is the same as receiving income through economic activity. The transfers just seem different to me.

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

    Quote Originally Posted by liblady View Post
    So you really believe that a person can die, pass on stocks valued at, say, 6 million dollars, with a basis of 1 million, and then cash those stocks an NO taxes have ever been paid on the 5MM income. That's absolutely not right. Anyone else selling those stocks would be subject to tax on the income. Why sould an heir be exempt?
    I was referring to the tax on inheritance, not capital gains taxes. I agree that the basis has to be accurately maintained when the stocks are inherited.

  8. #1638
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Oh yes, it's the very same money. But we are not taxing the money, we are taxing the transfer of this money from one person to another. And I just don't think a parent giving money to his children is the same as receiving income through economic activity. The transfers just seem different to me.
    We are taxing new money coming into a persons pocket that they did not previously have. The activity behind it is irrelevant and meaningless - unless one is intentionally designing a system to benefit one class of people who disproportionately have a different source of money than most others. Then, it becomes very important and very relevant.
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  9. #1639
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Cardinal Fang View Post
    From way back there in Post-1581...

    Once again for the hard of hearing, the bulk of wealth within most estates that actually pay inheritance taxes is comprised of unrealized capital gains that have NEVER been taxed, and because these assets will be passed to heirs at their stepped-up basis, no tax will EVER be paid on such gains if they are not taxed at time of inheritance.

    And of course, you'll not find a rule, law, or even suggestion anywhere that money once taxed cannot or should not be taxed again. Everything in fact is taxed over and over and over again. Odd that so many people haven't noticed this.
    No tax should be paid then if it wasn't taxed during the person's life.

    Oh we've noticed it, that's why we oppose it. The government takes too much and should live within much tighter means. It's a restriction of financial freedom to tax, double tax, and raise taxes on people.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
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  10. #1640
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by digsbe View Post
    No tax should be paid then if it wasn't taxed during the person's life.

    Oh we've noticed it, that's why we oppose it. The government takes too much and should live within much tighter means. It's a restriction of financial freedom to tax, double tax, and raise taxes on people.
    Living in a society of 311 million people by its very nature limits ones personal freedom.

    So what?
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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