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. #161
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Luna Tick View Post
    That's exactly the problem with the inheritance tax. It usurps the right to bequeath away from the person who has died. In the case you cite, the Dolphins owner wanted the team to go to his heirs, but the death tax made that impossible. Cases like this happen all the time, but are not high profile. Families lose their family business. Often the family members have worked there all their lives to build it up without being the actual owner. These businesses ought to be able to continue as they were before the person died.



    It's not income. It's a gift. There is not an exchange of value for services rendered. The person who has died has chosen to give what he has to someone else. Gifts should not be taxable.
    And currently there is a $5,100,000 exemption for just those purposes. There are also limits for exempting some gifts at certain levels.

    So if I had you a large sum of money, you have not had money coming in to enrich you? Regardless if the 5 grand you put in your pocket comes from wages or salary or investments or lottery winnings or inheritance it still looks the same and spends the same and is still 5 grand that you have improved your financial status by.

    To get into a game of semantics and verbal gymnastics as to what income is is a denial of the reality of where the money goes and how it enriches the person just like wages do.
    Last edited by haymarket; 01-29-12 at 12:56 PM.
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  2. #162
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    The responsibility of a parent to care for and provide for their children is not income and can be excluded from that definition if need be by law. Is that really so hard to contemplate that we can tell the difference between feeding your kids and giving them millions of dollars?
    I fail to see the relevance of this statement. Giving someone else a gift, a simple transfer of money/wealth from one individual to another for no goods bought and no services rendered is not income. That's what I'm arguing. And I personally believe that only income should be taxable.

  3. #163
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    NO. You are trying to avoid an honest discussion about inheritance by reducing everything to an absurdity like taxing your kids oatmeal. Such tactics are the last refuge of the desperate unable and unwilling to discuss the realities of the issue.
    I am examining the principle behind your definition of income. As you said, whenever wealth "comes in" to another person's pocket, that is income. Per your definition, if I give my kid $10 to go to the movies, he has just made $10 of income. If I give my kid a bowl of oatmeal, or a bike, or a car, or a pony, or a yacht, or a private jet, he has received income.

  4. #164
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    And currently there is a $5,100,000 exemption for just those purposes. There are also limits for exempting some gifts at certain levels.
    So you are in favor of discriminatory treatment for some types of income?

  5. #165
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by StillBallin75 View Post
    I fail to see the relevance of this statement. Giving someone else a gift, a simple transfer of money/wealth from one individual to another for no goods bought and no services rendered is not income. That's what I'm arguing. And I personally believe that only income should be taxable.
    That is because what you are intentionally doing by purposeful design is to format your own definition of INCOME and then claiming that it does not fit the parameters of inheritance. You keep coming back in a circle to your own definition crafted for just that explicit purpose.
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  6. #166
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    So you are in favor of discriminatory treatment for some types of income?
    Where did I say that?
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  7. #167
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Gary View Post
    Source: Taxes by State

    I wonder why these state have estate taxes? These are some of the richest per capita states.
    So estate taxes make people rich? that seems to be the idiotic conclusion you are suggesting

  8. #168
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Where did I say that?
    Perhaps I jumped to conclusions. When you responded to Luna Tick's problem with the inheritance tax, you wrote:
    Quote Originally Posted by haymarket View Post
    And currently there is a $5,100,000 exemption for just those purposes. There are also limits for exempting some gifts at certain levels.
    So now I have to ask. Were you expressing support for these exemptions, or do you oppose them?

  9. #169
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    That is because what you are intentionally doing by purposeful design is to format your own definition of INCOME and then claiming that it does not fit the parameters of inheritance. You keep coming back in a circle to your own definition crafted for just that explicit purpose.
    I didn't craft it. This is Econ 101, **** I learned in high school.

  10. #170
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Perhaps I jumped to conclusions. When you responded to Luna Tick's problem with the inheritance tax, you wrote:

    So now I have to ask. Were you expressing support for these exemptions, or do you oppose them?
    He opposes it-he believes it should be taxed the same as income meaning it is the amount of the heirs' wealth rather than the size of the estate that determines the tax rate. Just click on the poll

    one person-not an American-believes the government should take everything you own upon your death. Someone who advocated that as a US Politician would have a most brief political careeer

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