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If I had the money and were a parent I would take out what I can each year and give it to my children to avoid Death Taxes. Yes that's what I call it not Estate Taxes. Taxes were paid on my money while I was alive why the hell should they be yet paid again just because I died and left it to the people I love? Losing a loved one is painful enough.....It shouldn't exist period.
If I had the money and were a parent I would take out what I can each year and give it to my children to avoid Death Taxes. Yes that's what I call it not Estate Taxes. Taxes were paid on my money while I was alive why the hell should they be yet paid again just because I died and left it to the people I love? Losing a loved one is painful enough.....It shouldn't exist period.
Yes, but there are a lot of people who want to transfer your wealth to other people rather than your family. And our greedy politicians want to tax every event in your life so they can continue to grow our bloated government.
Do we do anything in this country that doesn't benefit the country as a whole, or do we do things that benefits individuals, and not the majority of people.
A country that doesn't protect the majority, won't be a country for long.
How does sending billions in foreign aid to israel benefit us?
How does giving Haiti just about a billion benefit us?
How does paying for Rangels caddy benefit us?
How does building a bridge to nowhere benefit us?
We do a lot of things in this country that often benefits no one or just a select few.
Raising taxes on anyone without first eliminating waste is wrong. Eliminate the waste first then look at what tax increases are needed.
New gains plain and simple. Those who are being left the "assets" are not the direct recipients of the income stream derived from that investment or string of assets. They are inheriting a cash flow/stream that is outside of their direct sphere of ownership. Hence, not double taxation, but a new gain.
the fallacy in your argument is that the estate tax is done BEFORE any distribution of the estate is done. that is double taxation. if you want to count it as income to the heirs, then tax it when the heirs actually receive the income, and tax it at the rate provided for income. but the estate tax itself is in fact double taxation as the government is taking a second bite at the apple since the assets of the estate were previously purchased with money that was already taxed.
I guess you don't read your own links, which is why you have a gross misconception about the whole issue. Do liberals just rely upon sound bytes for information? Now try reading it again- this time slowly.
"Double Tax?"
Both the radio and TV ads call the estate tax a "double tax," which is only partly accurate. It is true that some portion of a taxable estate might be made up of cash that was taxed before, when it was earned as income. But many estates are made up of stocks, bonds, real estate or other holdings that have appreciated greatly in value over the lifetime of the person who owned them. The owner didn't pay taxes on that profit during his or her lifetime because they weren't sold and the profits weren't turned into cash, or "realized." Furthermore, heirs who inherit such appreciated assets won't have to pay tax on that unrealized profit either. The estate tax is the only tax that applies to such unrealized capital gains.
Furthermore, such unrealized, untaxed capital gains make up more than one-third of the average estate, according to a study by economists James Poterba of the Massachusetts Institute of Technology and James Weisbenner, who was on the staff of the Federal Reserve Board when the study was published in 2000. Weisbenner is currently at the University of Illinois at Urbana-Champaign .
Their study estimated that unrealized capital gains made up 36.3 percent of the value of all estates in 1998. That would make the "double tax" claim 63.7 percent true, and just over one-third false.
Now that is the best liberal "explanation' for why inheritence should be taxed. But, of course, it is an explanation of why it should not be taxed. Again- thanks for killing the family farm.
It's a death tax. Family of the person who died has this sudden obligation to cough up a huge portion of that familys assets simply because one person died. That family didn't GAIN anything. It was theirs all along because they are a FAMILY. And now, in addition to the grief of dad dying, they have to deal with finding a way to pay this sudden and arbitrary tax. It's a panalty to those who have been successful. It's a tax on dying.
Again, you seem to be grasping since there is no logic to your "argument."
The tax has nothing to do with the person who died. It's relevant to the people who gain wealth etc just like in any other manner.
New gains plain and simple. Those who are being left the "assets" are not the direct recipients of the income stream derived from that investment or string of assets. They are inheriting a cash flow/stream that is outside of their direct sphere of ownership. Hence, not double taxation, but a new gain.
So, you are not taxing the money but the person? That money has already been taxed, probably about a billion times.
Again, you seem to be grasping since there is no logic to your "argument."
The tax has nothing to do with the person who died. It's relevant to the people who gain wealth etc just like in any other manner.
and the libs are always saying that the Conservatives are money hungry? THE TAX HAD ALREADY BEEN PAID!!!!!!!!!!!!!!!!!
What is the difference between me continuing to live and own land and my son owning the same land later? It should cost my son perhaps thousands of dollars simply because his name is on the land and not mine when it is remaining the same FAMILY? I guess gaining wealth must be punished. After all, Obama as already said that we shouldn't GIVE so much to some and not others. How dare we get off our asses and actually do something with our lives!
Charles Sands
Smyrna, TN
Last edited by cpsTN; 12-22-2010 at 09:06 AM..
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