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. #171
    Educator Gary's Avatar
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    Re: which best describes your view of the inheritance tax?

    Originally Posted by Gary
    Source: Taxes by State

    I wonder why these state have estate taxes? These are some of the richest per capita states.
    Quote Originally Posted by TurtleDude View Post
    So estate taxes make people rich? that seems to be the idiotic conclusion you are suggesting
    I'm not responsible for you problems with reading comprehension.

    States ranked by per capita income

    1.Delaware $28,766 District of Columbia $28,659
    2.New Jersey $27,006
    3.Massachusetts $25,952
    4.Connecticut $25,614
    5.Colorado $24,049
    6.Florida $23,975
    7.New Hampshire $23,844
    8.New York $23,389
    9.Maryland $23,305
    10.Minnesota $23,198
    Source: List of U.S. states by income - Wikipedia, the free encyclopedia

    States that impose an estate tax are: Connecticut, Delaware, District of Columbia, Hawaii, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Ohio, Oregon, Rhode Island, Vermont, and Washington.
    Source: Taxes by State

    States ranked by per capita income

    26.Kansas $20,506
    27.Indiana $20,397
    28.North Carolina $20,307
    29.Arizona $20,275
    30.Missouri $19,936
    31.Iowa $19,674
    32.Texas $19,617
    33.Nebraska $19,613
    34.Maine $19,367
    35.Tennessee $19,393
    36.Wyoming $19,134
    37.South Carolina $18,795
    38.Alabama $18,189
    39.Utah $18,185
    40.Kentucky $18,093
    41.Idaho $17,841
    42.North Dakota $17,769
    43.Oklahoma $17,646
    44.South Dakota $17,562
    45.New Mexico $17,261
    46.Montana $17,151
    47.Louisiana $16,912
    48.Arkansas $16,904
    49.West Virginia $16,477
    50.Mississippi $15,853
    The lower 25 states in per capita income are like a Who's Who of Red states. Since they don't have a state inheritance tax, why hasn't all that wealth accumulation made their economies better?

  2. #172
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Gary View Post
    I'm not responsible for you problems with reading comprehension.



    Source: List of U.S. states by income - Wikipedia, the free encyclopedia



    Source: Taxes by State



    The lower 25 states in per capita income are like a Who's Who of Red states. Since they don't have a state inheritance tax, why hasn't all that wealth accumulation made their economies better?
    You obviously are arguing that a state death tax makes the state more prosperous

    that has no basis in fact and you cannot establish cause and effect

    death taxes are an abomination.

    Ohio had a massive death tax and tons of wealthy Ohioans established tax residency in states like Florida (my Father in Law) or others (My uncle)

    that sure helps Ohio doesn't it?
    Last edited by TurtleDude; 01-29-12 at 07:56 PM.

  3. #173
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    as A result Ohio repealed its death tax starting January 1, 2013 to try to stop the loss of high net tax payers who, when they established residency in other states, deprived Ohio of massive amounts of income tax

    Welcome to the Ohio Department of Taxation


    an interesting story about a person moving out of Ohio to avoid the Ohio death tax


    Escaping Ohio's Death Tax | Americans for Prosperity


    More important as he neared the end of his life, the former Senator also saved his family from paying Ohio 's death tax, which features one of the highest state rates (7%) and lowest asset thresholds – $338,333 – in the country. Florida famously has no income or estate tax, which is one reason other than the climate that it is home to so many northern-born retirees.

    Howard Metzenbaum thus denied the state in which he lived most of his life a parting financial gift. But he has at least provided the rest of us with a teaching moment in tax policy. If a liberal lion like Metzenbaum is willing to relocate late in life to avoid his state's death tax, maybe living politicians in Ohio will better understand how their confiscatory tax laws are driving its citizens to warmer climes.

  4. #174
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    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.
    Do they teach this sort of embracement of absurdity at the Von Mises Institute in place of action rational thought? Are you really unable to distinguish between a parent providing food and shelter and clothing for a minor child and a parent giving millions of dollars to a grown child?
    __________________________________________________ _
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  5. #175
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Do they teach this sort of embracement of absurdity at the Von Mises Institute in place of action rational thought? Are you really unable to distinguish between a parent providing food and shelter and clothing for a minor child and a parent giving millions of dollars to a grown child?
    there should be no difference and it should not be something you stick your nose into. your business is what you do for your children and not what I do for mine

  6. #176
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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?
    I was passing on information.
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  7. #177
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    Re: which best describes your view of the inheritance tax?

    Escaping Ohio's Death Tax | Americans for Prosperity


    More important as he neared the end of his life, the former Senator also saved his family from paying Ohio 's death tax, which features one of the highest state rates (7%) and lowest asset thresholds $338,333 in the country. Florida famously has no income or estate tax, which is one reason other than the climate that it is home to so many northern-born retirees.

    Howard Metzenbaum thus denied the state in which he lived most of his life a parting financial gift. But he has at least provided the rest of us with a teaching moment in tax policy. If a liberal lion like Metzenbaum is willing to relocate late in life to avoid his state's death tax, maybe living politicians in Ohio will better understand how their confiscatory tax laws are driving its citizens to warmer climes.
    Or maybe he just wanted to retire to Florida like lots of other people do.

  8. #178
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    there should be no difference and it should not be something you stick your nose into. your business is what you do for your children and not what I do for mine
    "There should be no difference"!!!!!!

    You cannot tell the qualitative difference between giving your kid a meal or pair of pants or shoes and the passing to them of a fortune worth millions!?!?!?!?!?!

    We most certainly are in Wonderland without even the quirky humor of the Mad Hatter to console us!!!!
    __________________________________________________ _
    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

  9. #179
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by winston53660 View Post
    Or maybe he just wanted to retire to Florida like lots of other people do.
    Nah. I am sure the weather had nothing to do with it. Why pass up the chance to twist a simple lifestyle decision into a political battle?
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  10. #180
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by winston53660 View Post
    Or maybe he just wanted to retire to Florida like lots of other people do.
    I guess that is the Democrat defending position

    His children had long grown and he was out of office for years before moving

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