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. #1641
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Living in a society of 311 million people by its very nature limits ones personal freedom.

    So what?
    Maybe so, that's why we should try to maximize.

    Also, how does living in a society of 311 million people specifically limit personal freedom in your opinion?
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  2. #1642
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by digsbe View Post
    Maybe so, that's why we should try to maximize.

    Also, how does living in a society of 311 million people specifically limit personal freedom in your opinion?
    The right of an individual to do as they please no longer exists as the rights of other individuals and the rights of society as a whole come into play. A simple thing like driving a car involves the giving up of all kinds of things that I may want to in the way of personal freedom from where I want to drive upon the road, when I want to stop or not stop, how fast I want to drive, and even the equipment I want on my car. All of those personal freedoms and choices of personal freedom have been taken away from me in my choice to drive upon the public roads established by society. And other than the initial decision to drive or not drive - I never got the chance to say BOO about it.

    There are countless other examples as you are no doubt aware.
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  3. #1643
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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.
    Quote Originally Posted by haymarket View Post
    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.
    I think that it's reasonable to make distinctions between how exactly money comes into someone's pocket. I think, for instance, that a father giving his son $1,000 is very different than that son earning $1,000 as salary. I don't think it's a black and white as you make out, and part of establishing an effective tax policy is to recognized and account for these differences.

  4. #1644
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    I think that it's reasonable to make distinctions between how exactly money comes into someone's pocket. I think, for instance, that a father giving his son $1,000 is very different than that son earning $1,000 as salary. I don't think it's a black and white as you make out, and part of establishing an effective tax policy is to recognized and account for these differences.

    Your point has already been agreed with as far as a $1,000 gift.

    Beyond small amounts for protected gifts, there is no reason to distinguish between sources of income unless one is purposely intending to subvert the progressive income tax laws in favor of one small class of people over the vast majority due to their sources of income. Effective and fair tax policy demands that we end the discrimination allowed in favor of he wealthy regarding both capital gains and inheritance protections.
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  5. #1645
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Henrin View Post
    Where are the opinions in post #1605?
    Your opinions that did not address the facts documented in #1604.
    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
    Your point has already been agreed with as far as a $1,000 gift.

    Beyond small amounts for protected gifts, there is no reason to distinguish between sources of income unless one is purposely intending to subvert the progressive income tax laws in favor of one small class of people over the vast majority due to their sources of income. Effective and fair tax policy demands that we end the discrimination allowed in favor of he wealthy regarding both capital gains and inheritance protections.
    So yes, we both recognize that not ALL money coming into another's pocket should be treated the same, from a standpoint of income taxes. We differ on the details.

  7. #1647
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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
    Well, we do have an income tax. That could change at some point, but for now it's what we have. So for as long as income tax is the federal government's main way of collecting taxes, why should inherited income be treated differently than earned income?
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  8. #1648
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    So yes, we both recognize that not ALL money coming into another's pocket should be treated the same, from a standpoint of income taxes. We differ on the details.
    Declaring a $1,000 gift not taxable and protecting a five million dollar inheritance is one hell of a huge detail.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Declaring a $1,000 gift not taxable and protecting a five million dollar inheritance is one hell of a huge detail.
    Yes, it certainly is. But in principle, we agree that it's not a black and white rule of "every dollar that enters another person's pocket ought to be taxed as income".

  10. #1650
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Yes, it certainly is. But in principle, we agree that it's not a black and white rule of "every dollar that enters another person's pocket ought to be taxed as income".
    we went through this weeks ago.
    __________________________________________________ _
    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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