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. #191
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Removable Mind View Post
    If you aren't going to inherit anything then it's a no brainer. NO tax for those who will inherit. Cuz really, it's none of your business. It's a family matter. If you are going to inherit something....regardless of how much, why in the hell would anybody want the government to get a penny?
    You do realize that property and stocks, etc, pass to the heirs with abasis at time of death, right? So if you inherited 500k of stocks, your basis is 500k. So you can then sell that stock and pay no taxes, and that's 500k of income that would never be taxed if not for inheritance tax. So, yes, inheritance tax is a good thing.

    Originally Posted by johnny_rebson:

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


  2. #192
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I did present a valid argument you ignored-states with high income and death tax rates lose rich residents to more friendly states
    Correlation does not mean causation. It is more likely he moved to Florida a big time known retirement community because he wanted to move to Florida. You have presented no evidence he did it for tax reasons beyond innuendo.
    Last edited by winston53660; 01-29-12 at 08:52 PM.

  3. #193
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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?
    So now I'm confused. Earlier you said that any time money goes into someone's pocket, that is income. Is that not true?
    Last edited by Centinel; 01-29-12 at 08:56 PM.

  4. #194
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by liblady View Post
    You do realize that property and stocks, etc, pass to the heirs with abasis at time of death, right? So if you inherited 500k of stocks, your basis is 500k. So you can then sell that stock and pay no taxes, and that's 500k of income that would never be taxed if not for inheritance tax. So, yes, inheritance tax is a good thing.
    its a good thing if you think that the government ought to have more and more and more money. suppose My grandfather owned a painting worth 100K that does not appreciate. My father inherits it and paid 55000 on it because when my grandfather died, one million was the limit and 55% was taxed on all wealth above that. and then when my parents died my brother took it and more taxes were paid on it

    that is ludicrous

  5. #195
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    I was passing on information.
    Understood.

    But I'm still wondering, do you support these exemptions, or do you oppose them?

  6. #196
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by winston53660 View Post
    Correlation does not mean causation. It is more likely he moved to Florida a big time known retirement community because he wanted to move to Florida. You have presented no evidence he did it for tax reasons beyond innuendo.
    but I presented evidence of others establishing residence (you seem confused, many of these people really don't spend much more time in their new state-rather they make the state their legal residence while still maintaining a home in the original state) for tax purposes

  7. #197
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Understood.

    But I'm still wondering, do you support these exemptions, or do you oppose them?
    Look how he voted --he wants every dollar of inheritance taxed at 35%

  8. #198
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    but I presented evidence of others establishing residence (you seem confused, many of these people really don't spend much more time in their new state-rather they make the state their legal residence while still maintaining a home in the original state) for tax purposes
    lot's o' people buy condos on the beach. Because they want a condo on the beach.

  9. #199
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    its a good thing if you think that the government ought to have more and more and more money. suppose My grandfather owned a painting worth 100K that does not appreciate. My father inherits it and paid 55000 on it because when my grandfather died, one million was the limit and 55% was taxed on all wealth above that. and then when my parents died my brother took it and more taxes were paid on it

    that is ludicrous
    However, if all that he owned was that painting, there would be no tax. I have no problem with property being passed on at the REAL basis. Do you?

    Originally Posted by johnny_rebson:

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


  10. #200
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by winston53660 View Post
    lot's o' people buy condos on the beach. Because they want a condo on the beach.
    and lots of people who spend half of their lives in Ohio and half in florida spend a few more days in florida as they near death so the now repealed ohio death tax didn't take a big hunk out of what they have earned

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