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. #61
    Sage

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

    Quote Originally Posted by TurtleDude View Post
    its easy to defend

    inheritance is not INCOME and the INCOME TAX proves that

    and again what justifies this unbelievable desire for the government to take more and more?
    So now you are a statist using the states law to justify your own position? Amazing.
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  2. #62
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    All money coming into a persons pocket or account should be taxed as income..... MONEY coming IN. Get it Turtle?

    And quit moving the goal posts and answer the question that you have been impotent to speak to so far.

    Tell us where this allegation of yours about exchange of value for taxation is found in the law.

    Show us all that you are not yet again simply making it up as you go along ala Indiana Jones in RAIDERS.
    tell me where your attitude that an inheritance is income is found in the federal law. If that were true there would be no death tax or estate tax.

    and tell me why you want the government to take even more money from people who already pay the top rates and pay the most actual federal tax dollars

  3. #63
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    So now you are a statist using the states law to justify your own position? Amazing.
    you are the one who loves government not me. I want to put that hog on a serious diet so it looks like the chicken as the founders intended

  4. #64
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    you are the one who loves government not me. I want to put that hog on a serious diet so it looks like the chicken as the founders intended
    Then why are you using the statist argument to defend your position?

    Why are you impotent to defend your own previous claims and allegations: Tell us where this allegation of yours about exchange of value for taxation is found in the law.
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  5. #65
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    Re: which best describes your view of the inheritance tax?

    I am NOT a fan of the Miami Dolphins, but I think that is was so unfair that several years ago when the owner of the team died, his heirs had to sell the team to pay the death tax.

  6. #66
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    tell me where your attitude that an inheritance is income is found in the federal law. If that were true there would be no death tax or estate tax.

    and tell me why you want the government to take even more money from people who already pay the top rates and pay the most actual federal tax dollars
    I never said inheritance was part of the definition of income IN THE LAW. It is clearly handled under the estate tax laws. I was agreeing with you that we should abolish estate taxes and I said the way to handle this would be to simply classify it as income and tax it accordingly. Are we clear on that now Turtle?

    Again with the statist argument of using the definition in the law to excuse your own position.

    You keep asking question after question after question in a desperate attempt to get yourself out of the tight corner that you painted yourself into.

    Tell us where this allegation of yours about exchange of value for taxation is found in the law.



    Why are you powerless to do this?
    Last edited by haymarket; 01-29-12 at 12:37 AM.
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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

  7. #67
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Luna Tick View Post
    • The person who has died has already paid tax on that money when alive.
    This is where I fall on the issue.


    Quote Originally Posted by Luna Tick View Post
    It's not always liquid cash. In the example of the chain of restaurants worth 20 million, 35% tax on that is 7 million dollars. If someone inherits those restaurants, but not much cash, he or she has to come up with that 7 mil somehow or sell some of the restaurants or close some down and lay people off. To me that makes no sense. It seems better for jobs and the economy to just leave them alone and let the restaurants continue as they did before the death.
    I pretty much agree with all your points but think Jobs/economy would at least theoretically continue on even if sold.

  8. #68
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Again with the statist argument of using the definition in the law to excuse your own position.

    You keep asking question after question after question in a desperate attempt to get yourself out of the tight corner that you painted yourself into.

    Tell us where this allegation of yours about exchange of value for taxation is found in the law.



    Why are you powerless to do this?
    where in the law does it say that inheritance is income

    and I guess if this board were limited to discussions where the law is all that matters, it would be rather dead

    we are making a just argument why transactions that merely involve a transfer of money rather than an exchange of value are not income generating and the tax code tends to agree with us rather than you

    but what is really disturbing is your desire that more and more money be taken by a government that has proven to be wasteful and dishonest (remember the promise of spending cuts if GHWB agreed to dem tax hikes)

  9. #69
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    where in the law does it say that inheritance is income

    and I guess if this board were limited to discussions where the law is all that matters, it would be rather dead

    we are making a just argument why transactions that merely involve a transfer of money rather than an exchange of value are not income generating and the tax code tends to agree with us rather than you
    Your first line contradicts the position of the second line. You cannot make a statist argument in your first statement and then decry the position of the law in your second statement.

    Where does this exchange of value stuff come from as a necessary component for taxation?

    again from my post 66

    I never said inheritance was part of the definition of income IN THE LAW. It is clearly handled under the estate tax laws. I was agreeing with you that we should abolish estate taxes and I said the way to handle this would be to simply classify it as income and tax it accordingly. Are we clear on that now Turtle?
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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

  10. #70
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    Your first line contradicts the position of the second line. You cannot make a statist argument in your first statement and then decry the position of the law in your second statement.

    Where does this exchange of value stuff come from as a necessary component for taxation?

    again from my post 66

    I never said inheritance was part of the definition of income IN THE LAW. It is clearly handled under the estate tax laws. I was agreeing with you that we should abolish estate taxes and I said the way to handle this would be to simply classify it as income and tax it accordingly. Are we clear on that now Turtle?
    using that "logic" you could justify taxing wealth every month even if it does not create income

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