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. #561
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Perhaps you can explain in ordinary everyday English how 35% of an $800,000.00 income in wages is actually LESS than 15% of an $800,000.00 income from capital gains?
    you wish for me to break the CBO report down for you in small, easy to read words?

  2. #562
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    A tiny poll on a website dominated by rightists and right libertarians is hardly significant in a nation of 311 million citizens.
    you think this is a rightist site?

    income tax. you seem to have issues confusing income taxes with estate taxes.


    irrespective, it's not terribly surprising. roughly the same amount of Americans "think they pay about the right amount of taxes" as pay no federal income tax at all. of course people will often poll in favor of goodies paid for by someone else.

    The main two ways that the wealthy are gaming the system is through
    1) capital gains rates which are discriminatory and preferential
    and yet Romney's 14% rate is higher than 97% of Americans, and the CBO says that your claim here is false. funny, that.

    2) exemptions on the first $5,100,000.00 of inheritance
    which is indeed unfortunate. there should be no tax on any inheritance, as the real wealthy don't pay the estate tax anyway. they do what Buffet does, which is to hide their wealth in foundations, trusts, and the like.

    reform those and the anger goes away as tax justice is restored..
    I wish you were right. but the desire for others' stuff is sadly insatiable, and those who become accustomed to the belief that they are morally justified and entitled to it can never be satisfied (see sig).
    Last edited by cpwill; 02-02-12 at 07:28 AM.

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

    Quote Originally Posted by TurtleDude View Post

    no its not normal for gifts to be taxed and its not normal for most estates to be taxed so cut the crap. you are not being truthful on that count
    that is simply not true - the estate tax is perfectly normal.

    Estate tax in the United States - Wikipedia, the free encyclopedia

    The law provides for gift giving so lease do not confuse that with the passing of wealth.

    http://www.irs.gov/businesses/small/...=98968,00.html
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    you wish for me to break the CBO report down for you in small, easy to read words?
    Perhaps you can explain in ordinary everyday English how 35% of an $800,000.00 income in wages is actually LESS than 15% of an $800,000.00 income from capital gains?

    I do not care what words you use as long as it makes sense and is truthful and factual.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Thrilla View Post
    I didn't ask haymarket what the IRS or wiki says.. i asked Haymarket a question... a question i guess i'm not getting an answer to. <shrugs>
    Your question was about a spouse inheriting. The premise you were operating under was a false one. I gave you both the law and an explanation of the terms in the law.

    You were operating under a false premise. What more do you require that you do not already have?
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Thrilla View Post
    i'll wager some in here wants to tax the allowance people give to their kids too.... as it "changes owners" and it's "income"
    This red herring was brought up earlier and a different poster provided the law on children and parents. Again, another false premise on your part.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    Here are a couple questions I haven't had answered from Haymarket

    why should someone who say lives off a lifetime of savings (through investments) have his tax go from 15% (on top of corporate profit taxes) to 40% as you want

    why should a million dollars made by a corporation be taxed TWICE by the greedy government so they get 35% at the first cut (leaving 650K) and then 40% when it is distributed to the owners meaning of the 1 million earned by the corporation only 390K makes it into the pockets of the citizens
    You have been answered repeatedly. For someone who evades questions like dodge balls in gym class you seem pretty insistent. But I will oblige you in the hopes of getting straight answers out of you for a change.

    1 - if the rate on income is set at 35% for the top bracket, it is discriminatory and an unfair preference to knowingly allow one source of income to avoid that taxation by as much as 60%. In addition, we know from both experience and the historical record from past years that the discriminatory benefit is enjoyed and employed largely by the very wealthy and are using that capital gains preference to effectively gut the intent of the progressive income tax. The issue then becomes one of fairness and equality before the law.

    2- a corporation is not taxed twice. A corporation is taxed once. They then distribute profits to shareholders and they are taxed once. The corporation and the shareholder are two different legal entities with different sets of responsibilities and legal obligations.

    A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members.
    http://en.wikipedia.org/wiki/Corporation

    http://en.wikipedia.org/wiki/Corporate_personhood

    But then, you have been given the law and all this time after time after time before in thread after thread after thread.
    Last edited by haymarket; 02-02-12 at 07:44 AM.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Cop out alert.
    I would strongly urge you to get a book on debate. I would further urge you to look up what a false premise is.

    http://en.wikipedia.org/wiki/Corporation
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    Re: which best describes your view of the inheritance tax?

    from cpwill

    you seem to have issues confusing income taxes with estate taxes.
    Not at all.

    You seem to have issues confusing my position on what needs to be in a national tax policy where the estate tax is abolished and the transfer of that money or wealth is simply taxed as normal income under the applicable rates and schedule.

    Now why would you intentionally misrepresent what I have posted here time and time and time again using the sham and ruse that I am confused when you know perfectly well that I am advocating changes in the law?
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    I would strongly urge you to get a book on debate. I would further urge you to look up what a false premise is.
    False premise? A false premise is an incorrect proposition that forms the basis of a logical syllogism. What incorrect proposition did Thrilla make that formed the basis of a logical syllogism? What logical syllogism is he making?

    Quote Originally Posted by Thrilla View Post
    ..and if the inheritance goes to the wife?... you want that taxed again too?.. even though it's basically hers through common law?
    Please note that he is not putting forth an argument, but is asking you a question regarding your opinion. He is asking you, haymarket, whether you would like an inheritance to a wife to be taxed.

    And of course, you have not given your opinion, but simply cited current law. I thought you were opposed to the current law. Weird.

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