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. #411
    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
    Translation - somebody do something to shut the American people up please before they take away my preferences and privilieges.
    the preferences and privileges that mean I pay more income taxes than 65 or so million americans combined and get absolutely not one single government provided additional benefit and then i have to listen to Obama and his swarm of toadies claim I am not paying my fair shair

  2. #412
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I would suggest getting rid of a tax code that allows pandering to the baser instincts
    Flat tax, so no tax code needed and no IRS.

    But to get rid of the elitist parasites- still no solution. I think they are as inevitable as the poor.
    “In politics, stupidity is not a handicap.” -Napoleon

  3. #413
    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
    Flat tax, so no tax code needed and no IRS.

    But to get rid of the elitist parasites- still no solution. I think they are as inevitable as the poor.
    Yeah they are the ones who tend to want to keep lots of people poor and dependent on the government

  4. #414
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by evanescence View Post
    Flat tax, so no tax code needed and no IRS.

    But to get rid of the elitist parasites- still no solution. I think they are as inevitable as the poor.
    I'm a fan of a simplified tax code, either flat or consumption(fair tax) No hybrids containing a little of each. I actually favor the national sales tax because there is no longer "hidden money" because the taxes must be paid on all new products and services. The wealthy would still pay more obviously as they will consume more but the rates will be lower and they will get value for their taxes in the form of goods and services rather than having to pay for the gains on their labor and investments. Those who earn less will pay the same rate, but would be of the same exact legal standing and have the exact same choices(don't want to pay more taxes, put off purchases for a quarter or two, can't wait, trade off is taxes) as well instead of having to wait for tax returns to use funds within the middle and upper middle brackets those who need to replace goods or have services performed simply pay the tax right there and know what their earnings will be since there wouldn't be an income tax.

    As for a flat tax I'm also fine with that but it still has the pitfalls of money being able to be hidden. It's advantage is less hiding will be done and the burden would be fair.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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  5. #415
    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
    I'm a fan of a simplified tax code, either flat or consumption(fair tax) No hybrids containing a little of each. I actually favor the national sales tax because there is no longer "hidden money" because the taxes must be paid on all new products and services. The wealthy would still pay more obviously as they will consume more but the rates will be lower and they will get value for their taxes in the form of goods and services rather than having to pay for the gains on their labor and investments. Those who earn less will pay the same rate, but would be of the same exact legal standing and have the exact same choices(don't want to pay more taxes, put off purchases for a quarter or two, can't wait, trade off is taxes) as well instead of having to wait for tax returns to use funds within the middle and upper middle brackets those who need to replace goods or have services performed simply pay the tax right there and know what their earnings will be since there wouldn't be an income tax.

    As for a flat tax I'm also fine with that but it still has the pitfalls of money being able to be hidden. It's advantage is less hiding will be done and the burden would be fair.
    I favor the consumption tax for several reasons

    1) the massive costs of compliance are basically eliminated

    2) billions in underground income is taxed

    3) the IRS will be greatly diminished

    4) the ability of politicians to pit different tax brackets or net tax consumers against net tax payers will be eliminated

    5) thrift and saving will not be punished

    if the government "needs" more money it will have to raise the tax rate on EVERYONE which will make such actions much tougher than merely telling the masses that tax hikes will be levied on "the rich"

  6. #416
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I favor the consumption tax for several reasons

    1) the massive costs of compliance are basically eliminated

    2) billions in underground income is taxed

    3) the IRS will be greatly diminished

    4) the ability of politicians to pit different tax brackets or net tax consumers against net tax payers will be eliminated

    5) thrift and saving will not be punished

    if the government "needs" more money it will have to raise the tax rate on EVERYONE which will make such actions much tougher than merely telling the masses that tax hikes will be levied on "the rich"
    Exactly right. A defense contractor wants another turd like the "stealth boat" then they will have to prove it's merit instead of greasing the right politician because the money would now have to be spent wisely, accountability would be automatic at the very instant a consumption tax became law. The best thing would be seeing the same IRS agents who have ruined countless Americans lives having to start from the very bottom again and actually have to answer to people for once.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  7. #417
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    Re: which best describes your view of the inheritance tax?

    Meant to vote none at all.
    "It is a sad day in society when people adjust the facts to fit their beliefs, rather than adjust their beliefs to fit the facts."
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  8. #418
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Perhaps I am wrong, but I see a younger guy in a military uniform and figured that was your current occupation.

    Right or wrong?
    If 35 years old is what you would call 'young', sure. An E-4 pay grade isn't going to make one rich. Honestly I make more doing construction on the states.

    Please continue.

  9. #419
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    good, support a consumption tax which would allow us to get rid of the IRS and all the time we spend meeting the idiotic requirements of the IRS
    I don't have a problem with switching to a consumption tax per se. I just haven't found a serious proposal yet that I fully agree with. FairTax comes pretty close, but IMO still ups the tax burden on the poorest among us a little too much. With a few tweaks (and a better understanding of how it would impact the incredibly wealthy) it would have my full support.

    I'd also support a flat rate income tax with no deductions/credits/loopholes except for a single cost of living deduction based on family size and possibly geographic area.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

  10. #420
    Sage

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

    Quote Originally Posted by TurtleDude View Post
    the preferences and privileges that mean I pay more income taxes than 65 or so million americans combined and get absolutely not one single government provided additional benefit and then i have to listen to Obama and his swarm of toadies claim I am not paying my fair shair
    just the opposite

    1- the discriminatory preference of taxing your money at 15% because a fancy label is placed on it called 'capital gains' while the same amount of wages is takes at 35%
    2- the privilege of being able to exclude millions and millions from the estate tax before a single dollar is taxed

    The idea of those discriminatory preferences being extended to you and the wealthy destroy any concept of FAIR SHARE.
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