There should be no inheritance tax of any amount of money or assets.
The first 5 million dollars should be exempt. After that the tax rate should be 35%.
The first 5 million dollars should be exempt. After that the tax rate should be 50%.
The first 1 million should be exempt. After that the rate should be 50%.
No exempt amount. Tax at 35% from the get-go.
No exempt amount. Tax at 50% from the get-go.
Abolish all inheritance. In other words, tax 100%.
Last edited by StillBallin75; 01-28-12 at 10:36 PM.
Neither side in an argument can find the truth when both make an absolute claim on it.
For one, if you can't work anymore government disability insurance doesn't cover a similar lifestyle.
If you have a temporary emergency, having the extra cash to cover any losses or repairs is a life saver.
I've been at barely getting by and it blows.
I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
an interesting article I just read from another board-has some major relevance here
Angry about inequality? Don’t blame the rich. - The Washington Post
Any transfer of money should simply be considered as income and taxed at the appropriate rate. On millions of dollars that would be 35%.
Nothing could be fairer.
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
If you give a friend $5 bucks for losing a bet, should that be taxed? Or simply considered a transfer of wealth between two individuals and left alone?
Last edited by StillBallin75; 01-28-12 at 10:55 PM.