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. #381
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    some people think fairness means screwing the rich as much as possible even if that hurts everyone else in the long run. The death tax is an example of that
    Who else is being hurt?
    “In politics, stupidity is not a handicap.” -Napoleon

  2. #382
    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
    There is an old expression that one cannot see the forest for the trees. When I see the labored mental processes that some are putting themselves through to show problems with estate taxes - invoking the memories of relatives who could not manage a business and pay their tax - and other such examples, the expression is crystal clear.

    The fact is this and it must be dealt with: Most people in this country make their money from working for it. Their income comes in the form of wages... salary ... a paycheck. And on that income they pay a tax which can be as high as 35%. That is the rule for the vast vast majority of people in America. These are the hard working people that keep America going and are the backbone of society.

    Then we have a much smaller group who make their money from their investments -capital gains. For the most part, they are a different group of people who have lots of extra income that they do not need for food or shelter or housing or clothing or medical expenses or anything else associated with the daily struggle just to keep body and soul together. They take this extra money and invest in and then pay 15% on the income derived from those investments. For a variety of reasons, political, economic and social - the government extends them a discriminatory and preferential tax rate of 15%.

    Then we have people who, through the good fortune of the lottery of birth, were born into a family of means and wealth and at some point they inherit a large amount of money. For a variety of reasons political, economic and social - they get healthy exemptions against paying any tax on it for the first 5 million dollars. In addition, one can use the assistance of professionals to lower the expected tax bill of 35% upon the remaining portion. Some even point out that more is spent fighting to lower the actual tax paid than is collected.

    What we end up with is an American society where the vast majority of people are paying taxes on their source of money while others are earning far more and paying far less of a percentage on their source of money.

    TAX FAIRNESS. That is the issue which angers so many Americans.

    When we see the details of a Mitt Romney - to use the obvious example in the news - it angers people because they view it as a violation of basic justice.

    And all the individual stories about hard working uncles do not speak to the dissatisfaction that Americans have about this lack of basic justice when it comes to discriminatory government laws favoring one source of money over others.

    why should Romney pay both the highest rates and then a SURCHARGE on that wealth after he dies

    Most americans aren't angry at the rich despite your party's efforts to stir up such anger

  3. #383
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    Who else is being hurt?
    cpwill laid out an example earlier about his uncle's business. The family will have to lay off workers just to free up money to pay the taxes on the business after he passes. In that real scenario not only will the uncle be deprived of fully executing his will to leave the estate to his heirs but middle class jobs will instantly vanish, those people will be hurt.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  4. #384
    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
    Public opinion polls say otherwise. And it is not hard to find them and I am sure you have seen them. The overwhelming majority of people want taxes increased upon the wealthy. The obvious way to do that is to see what discriminatory practices have allowed the rich to get preferential treatment and change that so all sources of income are taxed according to the same schedule.

    Polls show most Americans support raising taxes on wealthy - Political Hotsheet - CBS News



    Americans Favor Jobs Plan Proposals, Including Taxing Rich

    66% favor tax increases on upper earners.

    Poll: Most back raising taxes on millionaires - Political Hotsheet - CBS News



    New CNN Poll: Majority want tax increase for wealthy and deep spending cuts – CNN Political Ticker - CNN.com Blogs



    Daily Kos: Marist/McClatchy poll: Raise taxes on the rich, preserve social insurance*program


    Independents supported higher taxes on the wealthy by 63-34 percent; Democrats by 83-15 percent; and Republicans opposed by 43-54 percent....

    Most Americans DO NOT agree with you. They DO NOT share your opinion.

    So now convince them they are wrong and they should support a system which rewards others and hits them harder for making the same amount of money.

    10,000 fleas all agree that the dog should not wear a flea collar. The dog and his owner disagree

  5. #385
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    Whatever. I really stopped taking you seriously ages ago and don't really care what you think or what you think your rights or your business is. Dismissed.
    He's appealing to the parasitic envy he hopes exists in the masses. THe dem party spends a great deal of effort trying to convince people that the rich are screwing them over and if they vote for the dems, the dems will punish these evil greedy rich people and give the oppressed masses some of the wealth.

    its the mindset that spurred the income tax and the death tax and is ruining this country

  6. #386
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    Who else is being hurt?
    In the direct sense, people who do the right thing and save for retirement, small businesses, family farms, employees, and the like. In the indirect sense, all of the rest of us who live in a less competitive, efficient economy due to the government subsidy of the uber-rich inherent in the estate tax.

  7. #387
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    cpwill laid out an example earlier about his uncle's business. The family will have to lay off workers just to free up money to pay the taxes on the business after he passes. In that real scenario not only will the uncle be deprived of fully executing his will to leave the estate to his heirs but middle class jobs will instantly vanish, those people will be hurt.
    point worth making - this is in construction contracting. currently employment and investment in that sector is.... not robust. those blue-collar workers and their families that the death/estate tax will throw onto the street will likely be there for a long time.

  8. #388
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    Who else is being hurt?
    lots of people

    1) those who are convinced that the government exists to give them the wealth of others
    2) businesses that are ruined by the death tax
    3) the billions that are spent avoiding or minimizing the death tax
    4) the wealth that is secreted away or taken offshore is no longer being spent in the USA

  9. #389
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    MOre horsecrap--spending cuts do not require more revenue in the minds of any rational person. what you are saying is that the dems will lose votes from spending cuts so they have to make that up by jacking up the taxes on the wealthy to buy back those votes
    Or maybe he's saying that we could not possibly cut enough spending to balance the budget without finding a way to generate a whole lot of additional revenue-- and especially not while trying to pass the kinds of massive tax cuts that the Republicans are clamoring for.

  10. #390
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    In the direct sense, people who do the right thing and save for retirement, small businesses, family farms, employees, and the like. In the indirect sense, all of the rest of us who live in a less competitive, efficient economy due to the government subsidy of the uber-rich inherent in the estate tax.
    I actually addressed that in an earlier post. The first $5 million would be untouched. But 35% after that. It's not that I want to TAX THE RICH!!! out of envy. But I do want to prevent an Aristocracy. That's all.
    “In politics, stupidity is not a handicap.” -Napoleon

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