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. #651
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Simply tax the money as you would any normal money coming in to a persons pocket with the applicable rate.
    Yet you don't want to treat all money coming into someone's pocket the same way, and I don't understand why?

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

    Quote Originally Posted by TurtleDude View Post
    so an estate is only what the death tax says it is.

    Look we have seen your confused bit that gifts and inheritances-which are very different than income ought to be taxed

    why cannot you keep your hands off of that sort of transfer?

    but hey I want you to tell all your dem fellow travelers that the dem plan is that everyone's inheritance be taxed like income. that means lots of union types etc are going to have to pay the taxman when their parents die

    good idea
    The solution is simple. The father can just give his belongings to his children as birthday presents, and then they're not income, according to haymarket.

  3. #653
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    There is no confusion on my part Turtle. My position is very clear and easy to understand if one wants to approach the subject with an open mind.

    Let us take three people all of whom place a nice even ONE MILLION DOLLARS into their pocket during the year.

    case #1 is Richard Dillard, a professional record producer. He earned his million in wages and salary and his hard work and talent took him to the upper ranks of his profession. He is in the 35% tax bracket and will pay a federal income tax bill of $350,000.00.

    case #2 is Wanda Phillips, an investor. She made her million off long term capital gains. Her tax bracket is the preferential 15%. She will pay a federal income tax bill of $150,000.00.

    case #3 is Ned Sykes, who does not work or invest. He got his million through inheritance. Because the first 5 million is exempt, he pays nothing - zero percent. His federal income tax bill is $0.00.

    All three DID NOT have the one million at the start of the year. All three got their one million during the year. It all spends the same. If you took each of their money and placed it in three stacks of one million dollars each, nobody on the planet could tell you with any accuracy time after time in a test which pile of money came from which source.

    But the government knows whose million belongs to who because they put a big label on each and apply preferences and favoritism towards one over the other.

    Now Turtle, La, Centinel, Thrilla, and anyone else who can - tell Richard Dillard why he should be happy to pay a tax bill of $350,000.00 on the same amount of money that Wanda Phillips only pays $150,000.00 on and Ned Sykes pays nothing on. And feel free to use the word FAIR all you want in your explaination.
    You forgot scenario #4 in which Joe Dude gets $1000 as a birthday present. He should pay 35% tax on that money coming into his pocket too, right?

  4. #654
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    There is no confusion on my part Turtle. My position is very clear and easy to understand if one wants to approach the subject with an open mind.

    Let us take three people all of whom place a nice even ONE MILLION DOLLARS into their pocket during the year.

    case #1 is Richard Dillard, a professional record producer. He earned his million in wages and salary and his hard work and talent took him to the upper ranks of his profession. He is in the 35% tax bracket and will pay a federal income tax bill of $350,000.00.

    case #2 is Wanda Phillips, an investor. She made her million off long term capital gains. Her tax bracket is the preferential 15%. She will pay a federal income tax bill of $150,000.00.

    case #3 is Ned Sykes, who does not work or invest. He got his million through inheritance. Because the first 5 million is exempt, he pays nothing - zero percent. His federal income tax bill is $0.00.

    All three DID NOT have the one million at the start of the year. All three got their one million during the year. It all spends the same. If you took each of their money and placed it in three stacks of one million dollars each, nobody on the planet could tell you with any accuracy time after time in a test which pile of money came from which source.

    But the government knows whose million belongs to who because they put a big label on each and apply preferences and favoritism towards one over the other.

    Now Turtle, La, Centinel, Thrilla, and anyone else who can - tell Richard Dillard why he should be happy to pay a tax bill of $350,000.00 on the same amount of money that Wanda Phillips only pays $150,000.00 on and Ned Sykes pays nothing on. And feel free to use the word FAIR all you want in your explaination.
    Oh, and because Ned Sykes did not earn income. He was given money.

  5. #655
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Yet you don't want to treat all money coming into someone's pocket the same way, and I don't understand why?
    Perhaps I understand the difference between a bowl of oatmeal and a million dollars.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    You forgot scenario #4 in which Joe Dude gets $1000 as a birthday present. He should pay 35% tax on that money coming into his pocket too, right?
    You create your scenarios. I will create mine.

    And yours does NOTHING to negate the real world application of what I created.

    But of course, that is not what you are about anyways.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    The solution is simple. The father can just give his belongings to his children as birthday presents, and then they're not income, according to haymarket.
    Oh really!?!?!?!? Perhaps you can quote where I said that?

    You are hell bent on attacking me because I am seen by you as the enemy of your ideology.
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Interesting, so you distinguish between a birthday present and an inheritance, despite the fact that both of them result in new money coming into someone's pocket. Can you explain why you see them as different and wish to treat them differently for tax purposes? Who you not simply consider them both income?
    You really do not see the difference between a ordinary regular run of the mill birthday gift and an inheritance of millions of dollars?

    If YOU cannot see the real world difference, I suspect nobody on the planet could explain it to you.
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  9. #659
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Interesting, so you distinguish between a birthday present and an inheritance, despite the fact that both of them result in new money coming into someone's pocket. Can you explain why you see them as different and wish to treat them differently for tax purposes? Who you not simply consider them both income?

    because even the most hard core socialist left realizes that they would be destroyed if they started taxing birthday gifts. Now I am sure they would if they could but the political price they would pay might involve tarring and feathering. Its the same reason why Haymarket's desire to tax all estates as ordinary income will never be advanced by his Dem bosses. that would kill their chances of every winning another national election.

    his dem bosses are smart enough to realize that their disgusting greed for the money of other people cannot be spread too much across the electorate. They must limit it to a voting minority that they can attack with envy

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

    Individuals don't pay taxes. Households pay taxes. Families pay taxes, and taxing inheritance is taxing the same family for the same income twice. The estate tax is just one more way that liberals are attempting to replace American families with American government.

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