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. #771
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    establish justice
    preserve domestic tranquility
    promote the general welfare

    The guys who wrote that thing strongly disagree with you.
    Quote Originally Posted by haymarket View Post
    Inheritance or estate taxes have been around for a very long time - both in the world and in the USA.

    Estate Taxes An Historical Perspective

    Right on this very site we were provided with some quotes from founding fathers who supported estate and inheritance taxes.

    Estate tax and the founding fathers: You can't take it with you | The Economist

    Nothing in the US Constitution prohibits estate or inheritance taxes.
    tsk. and you were a history teacher, too. My APUS teacher would have eaten me alive, had I suggested that Jefferson or Paine had authored the Preamble to the Constitution of the United States.

  2. #772
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    tsk. and you were a history teacher, too. My APUS teacher would have eaten me alive, had I suggested that Jefferson or Paine had authored the Preamble to the Constitution of the United States.
    You must have a reading comprehension problem. I never said they did. I stated that some of our founders supported inheritance and estate taxes. Why are you so dishonest about this?
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  3. #773
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    Re: which best describes your view of the inheritance tax?

    from cpwill

    except that we aren't using real categories of taxation, but rather fantasy categories of taxation. hotcha. well yes, once you alter input to assume your result, your result is what you shall likely get.
    As for the estate tax, I have come up with a clear and consistent principle: we tax wages, capital gains and inheritance as income according to the same rate schedules.
    The rates I quoted are indeed real and not fantasy. You do not like that I gave all three examples with no other deductions. Tough. That is the only fair way to do it since the amount of deductions one takes varies widely from taxpayer to taxpayer. You might have a point if I took them for one category but not for the others. But my not considering deductions was applied evenly to ALL THREE EXAMPLES

    yes. except that you also add in "gifts" and you refuse to provide a clear definition of either "gifts" or "inheritance" as it applies to the parent-child relationship. you also utterly fail to either grasp or answer the point that forms of wealth are different in nature - that taxing someone who inherits an $8 million brokerage account is different from taxing someone who inherits $5 million worth of land farmed with $2 million worth of equipment and having $1 million worth of barns, silos, a house, etc. In the one case the wealth is easily divisible. A dollar in a brokerage account does not become worth less because it's neighbor is shifted to a government account. In the other division is highly destructive. Farmland is useless without equipment. all of your examples utilize only the most liquid forms of wealth either because you think that only this form is inherited, or because you do not wish to own up to the destruction caused by your taxation of the less liquid forms.
    As has been explained to you time and time again, laws take that into consideration and establish those parameters and definitions. Today there are limits on non taxable gifts. There would be under my proposal also.

    Your argument about destruction is highly selective. If my wealth is in money, I have to "destroy" (to use your word) some of it to pay my tax obligations. That is simple reality and the way things are. So if a person inherits farm land or real estate why should they be any different or in some protected class? Again, you want big government to protect some and not others based on your own discriminatory criteria and you want that as a matter of principle and not merely details with exceptions like a gift exemption level.


    My point (which you consistently ignore) is that your proposed policy helps the uber rich while harming the poor and middle class to upper middle class.
    One other poster alleges the same thing. But we have seen nothing to support this claim.
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  4. #774
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    that might be both the most moronic comment I have seen on this board posted in seriousness and one of the most disturbing. You have clearly absolutely no clue what the government is about and what it was founded on.
    Let me get this straight first you accuse me of being envyous in post# 739, when I say I envy no person , you say it's moronic?

    Then you say the Preamble is just a lot of nonsence?
    In previous post you were complaining about government taking away your rights now you say no clue how government works.
    So tell me how does government work?
    So who wrote the words "WE THE PEOPLE" and what did they have in mind?
    Last edited by presluc; 02-06-12 at 02:49 PM.
    Tiki bar regular.
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  5. #775
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by presluc View Post
    Let me get this straight first you accuse me of being envyous, when I say I envy no person , you say it's moronic?

    Then you say the Preamble is just a lot of nonsence?
    In previous post you were complaining about government taking away your rights now you say no clue how government works.
    So tell me how does government work?
    So who wrote the words "WE THE PEOPLE" and what did they have in mind?
    The words of Paul Simon come to mind from THE BOXER

    "a man hears what he wants to hear and disregards the rest."

    Right wingers will dismiss the language of the start of the Constitution but then put themselves though rather labored mental and verbal gymnastics to explain why one individuals letter written in support of the Constitution is suppose to be the last word on the document. Its sad.
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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

  6. #776
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Pinkie View Post
    No, stupid....that is the concept behind communism. Which, as you may have noticed, has never, ever succeeded.
    Who's stupid here?
    I know what the preamble says.
    That is unless you bare prepared to take words out of an American document.
    The same American document this nation weas founded on.
    Tiki bar regular.
    My code, never take anything for granted always expect the unexpexted.
    Never take anything you don't need ,never want anything you can't have

  7. #777
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    what are you blathering about? that people like you are going to revolt, or us who pay most of the federal taxes ought to?
    Spin it anyway you want Turtle.
    Bottom line; this country was founded on a war caused by unfair taxes.
    No blathering, no fiction FACT.
    Tiki bar regular.
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  8. #778
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    Re: which best describes your view of the inheritance tax?

    Table 2.5—COMPOSITION OF ‘‘OTHER RECEIPTS’’: 1940–2013—Continued

    Estate and Gift Taxes (in millions of dollars)
    2000 .................................................. .........................................29,010
    2001 .................................................. .........................................28,400
    2002 .................................................. .........................................26,507
    2003 .................................................. .........................................21,959
    2004 .................................................. .........................................24,831
    2005 .................................................. .........................................24,764
    2006 .................................................. .........................................27,877
    2007 .................................................. .........................................26,044
    2008 estimate .................................................. ............................26,757
    2009 estimate .................................................. ............................26,313
    2010 estimate .................................................. ............................19,543
    2011 estimate .................................................. ..............................1,464
    2012 estimate .................................................. ................................ 421
    2013 estimate .................................................. ................................ 505
    Source: http://www.gpoaccess.gov/usbudget/fy09/pdf/hist.pdf Page 46.

    Since we are in the FY2012 budget, why is the estate tax an issue now and not when it was over 50 times more with Bush?

  9. #779
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    You must have a reading comprehension problem. I never said they did. I stated that some of our founders supported inheritance and estate taxes. Why are you so dishonest about this?

    for supporting such crap they sure didn't incorporate those feelings into the constitution. maybe they thought state governments ought to be able to do that but there is ZERO support of such parasitic taxes in the constitution

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

    Quote Originally Posted by presluc View Post
    Let me get this straight first you accuse me of being envyous in post# 739, when I say I envy no person , you say it's moronic?

    Then you say the Preamble is just a lot of nonsence?
    In previous post you were complaining about government taking away your rights now you say no clue how government works.
    So tell me how does government work?
    So who wrote the words "WE THE PEOPLE" and what did they have in mind?
    more psychobabble.

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