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. #451
    Sage

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

    Quote Originally Posted by TurtleDude View Post
    actually my main reason is to eliminate the ability of people like you to pander to the masses by jacking up my taxes

    and I pay far too much taxes based on an objective analysis of

    1) what others pay

    2) what others use in federal services

    3) and its disgusting that the people who pay the most taxes in their lifetime are the only ones taxed upon their deaths
    1) only because you obsess about mostly one tax - the federal income tax and are willing to exclude other more regressive taxes from the discussion

    2) you yourself have admitted we cannot have a tax system based on service usage because it is not possible to calculate that amount. you are now arguing against your own past admissions.

    3) There is not tax that people pay upon their death. That is a lie. The tax is paid on the transfer of an estate to a living person who comes into money new to them.
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    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

  2. #452
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    I will say that I am immensely enjoying the results of this poll. There is hope for us yet .
    A tiny poll on a website dominated by rightists and right libertarians is hardly significant in a nation of 311 million citizens.

    Now these are


    http://www.cbsnews.com/8301-503544_1...58-503544.html

    Fifty-six percent of Americans think taxes should be increased on households earning $250,000 a year or higher to help lower the deficit, while 37 percent say taxes should not be raised on those households.
    Americans Favor Jobs Plan Proposals, Including Taxing Rich

    66% favor tax increases on upper earners.

    http://www.cbsnews.com/8301-503544_1...-millionaires/


    Six in ten Americans believe Congress should raise taxes on Americans earning more than $1 million per year, according to a new CBS News poll, while only 35 percent oppose such an increase.
    http://politicalticker.blogs.cnn.com...spending-cuts/
    According to the poll, 63 percent say the super committee should call for increased taxes on higher-income Americans and businesses, with 36 percent disagreeing
    http://www.dailykos.com/story/2011/0...suranceprogram


    On tackling the deficit, voters by a margin of 2-to-1 support raising taxes on incomes above $250,000, with 64 percent in favor and 33 percent opposed.
    Independents supported higher taxes on the wealthy by 63-34 percent; Democrats by 83-15 percent; and Republicans opposed by 43-54 percent....
    The main two ways that the wealthy are gaming the system is through
    1) capital gains rates which are discriminatory and preferential
    2) exemptions on the first $5,100,000.00 of inheritance

    reform those and the anger goes away as tax justice is restored..
    __________________________________________________ _
    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

  3. #453
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    There is no Berlin Wall holding you here. The fact that you continue to live in a nation you loath with every fiber of your being is quite telling.
    What in the name of all that is holy does that have to do with my question about taxation?

    I do not have any objections to representative democracy, taxation through government power, or any of the things which separate folks like yourself from the American system of government.

    The first time you attempted to flip the script upon me I thought it was simply because you did not follow the argument. Now I realize its just a lame effort to appear clever when you have no basis to make such a comment.
    Last edited by haymarket; 01-31-12 at 12:49 PM.
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    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

  4. #454
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    What in the name of all that is holy does that have to do with my question about taxation?
    Well, you oppose the current system here in the US. I am merely pointing out that there are many other countries in which to live that might suit you better, and that it is very telling that you choose to stay here and bitch. There is no Berlin wall keeping you here, you know.

  5. #455
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Well, you oppose the current system here in the US. I am merely pointing out that there are many other countries in which to live that might suit you better, and that it is very telling that you choose to stay here and bitch. There is no Berlin wall keeping you here, you know.
    Not at all. I do NOT oppose the system of taxation we have in the USA. I support it. I simply want to eliminate some elements of outright preference and discrimination in that same system. keep the progressive tax system that I know and support. Just fine tune it so that the federal income tax lives up to its progressive name. And the way to do that is to get rid of the two things that have neutralized it for the wealthy - capital gains preferences and protections for so much of the inheritance tax.

    I have no basic disagreement or dispute with the fundamental governmental system or tax system.

    Again, you attempting to equate my pointing out the inequities of some details of the tax law with your basic dismissal of large portions of our system is like comparing a brick to a wall.

    And now we are back to the Berlin Wall..... that is not keeping you in.
    __________________________________________________ _
    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

  6. #456
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Well, you oppose the current system here in the US. I am merely pointing out that there are many other countries in which to live that might suit you better...
    How charmingly libertarian of you. Why do you always assume that when people make suggestions about what's best for this country, they would want to live in some other country?

    Do you think that there is nothing special or unique about living in America and being an American that people should just leave the country any time that they disagree with policy?

  7. #457
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Viktyr Korimir View Post
    How charmingly libertarian of you. Why do you always assume that when people make suggestions about what's best for this country, they would want to live in some other country?

    Do you think that there is nothing special or unique about living in America and being an American that people should just leave the country any time that they disagree with policy?
    He is making a valid point though. There is a mindset in this country that it has to be a certain way by any given political minority or we aren't "doing things correctly" some minority opinions would endanger the rights and liberties we enjoy while some do harm to our economy and others are mildly amusing. Many of the people who want their agenda adopted could easily move to other countries that already do what they propose yet they stay here and try to change our way of life, some even go further and accuse those who want to preserve our way of doing things as being "unamerican" which is frustrating when the logic follows that having a differing opinion is fine, but trying to disbar us of liberties not agreed with is not.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  8. #458
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by MoSurveyor View Post
    I don't see that. Either the construction contracts are there or they aren't. Who signs the paycheck for those construction workers is irrelevant to the overall economy. I'm not saying it's "right" that your uncle's company goes out of business (though I can think of a couple of ways it could survive intact) but if it does, the construction contracts it would have won would be won by someone else and those workers would have the job instead of your uncle's workers. No jobs have been lost, they've just shifted from one company's workers to another. Or maybe the other company's owner will see a chance to expand and hire those workers instead. There are many possibilities but none lead to fewer jobs. The work still has to be done by someone.
    no - that's the zero sum fallacy. having more efficient and effective companies increases production.

    That's a simple answer - mistreat people enough and they rebel in one way or another. You can laugh at OWS all you want but regardless of your opinion of it, it's a sign of unrest. "The masses" are being pushed and, like any living organism, they push back in kind.
    those masses weren't "pushed". they were raised to think that they were special, that life owed them a trophy just for showing up, and then told that they should all incur massive student debt to spend a leisurely half-decade pretending to focus in "University Studies" only to find out that the real world won't reward them for it.

    Of course the GOP doesn't want to tax those that feed it. If +$1 in more taxes = -$1 in political slush then the GOP would be losing money. We all know politicians are there first and foremost to line their own pockets. (And that applies to both sides of the aisle.)
    well that last point is certainly well taken. but if you think that the wealthy Wall Streeters are the GOP feeders, then you haven't been paying attention.

    Or we could just put a stop to campaign contributions?
    sure. then we'll make it illegal to immigrate here without going through the proper channels. that way, no one will do it.

    You can't "put a stop" to campaign contributions. Didn't we learn that with McCain-Feingold? Besides First Amendment concerns, there is simply too much incentive. So long as politics interferes with business, business will find it necessary (and profitable) to interfere in politics.

  9. #459
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Viktyr Korimir View Post
    How charmingly libertarian of you. Why do you always assume that when people make suggestions about what's best for this country, they would want to live in some other country?

    Do you think that there is nothing special or unique about living in America and being an American that people should just leave the country any time that they disagree with policy?
    Yeah, you're right. Only a dickhead would suggest such a thing. I'll refrain from doing so in future.

  10. #460
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Actually my concept of FAIR is based on the following reality of living in America and has NOTHING to do with ideology. Its all pragmatic numbers which cannot be denied.

    case #1 George Brown. Works as a record producer and has risen up in the ranks due to hard work and his own talent. He made an income of $800,000.00 in 2011. His tax rate is 35%. Without any deductions, his tax bill is $280,000.00 in federal income tax.

    case #2 is Susan Green. She does not work at a job. She has a portfolio of investments and lives off that income. In 2011, she earned an income of $800,000.00 in long term capital gains. Her tax rate is 15%. Without any deductions, her tax bill is $120,000.00 in federal income tax.

    case #3 is Tom Wallace. He did not work in 2011. He did inherit $800,000.00 from his father who died leaving him the money. Because of the 5 million dollar exemption, his tax rate on the $800,000.00 is zero percent. His tax bill is nothing - zero dollars in federal income tax.

    So we have three Americans all who placed $800,000.00 into their pockets in 2011.
    One paid $280,000.-- in federal tax upon that sum.
    Another paid $120,000.00 in federal tax upon that sum.
    A third paid $0.00 in federal tax upon that sum.

    Now explain to me, why the American people - the vast vast majority of which get their money from wages and salary, should support this sort of system which discriminates among sources of money and applies discriminatory rates to them?

    No apples to oranges.... dollars to dollars ...... tax bill to tax bill ...... rate to rate.

    Yeah we have seen that nonsense before but it is quite dishonest

    The third guy, the money was massively taxed during its accumulation and no properly taxable transaction took place

    the second person: the money is subject to massive risk and inflation and if its dividends it has already been massively taxed

    the first person-if he makes that much he is most likely saving and investing and sure doesn't want to pay 35% on his investment income

    three different sources of revenue

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