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If the gain was taxed as income, then taxed again when the person dies and turn it over to their next of kin....that is double taxation. That is wrong.
If you can't understand that, then you need to educate yourself. The items left behind should not have an advantage over other methods of one obtaining wealth etc.
Taking more then half, which is what democrats want, is not a simple tax. My father's ranch is not the federal government's ranch, plain and simple, and the government has no rights to go thru his pockets and take 55% of all he owns, just because my father died.
This is legalized theft, nothing less. It sure as hell is not granting all citizens equal protection under the law.
If you can't understand that, then you need to educate yourself. The items left behind should not have an advantage over other methods of one obtaining wealth etc.
The items left behind were already taxed. The income was taxed when it was earned, the gains were taxed when they were realized. The estate is what's left after the government already took as much as it was able. When the inheritors of the estate sell those assets, they will then be taxed on the gain. The death tax is NOT a tax on gains. It is a tax on HOLDINGS. And if you can't understand THAT, perhaps YOU'RE the one who needs to be educated.
Don't you people know, it is fair (in the mind of a liberal), to double tax someone who has died......how else are they going to fund their social programs to benefit the lazy welfare leeches.
If you can't understand that, then you need to educate yourself. The items left behind should not have an advantage over other methods of one obtaining wealth etc.
If you think that, I want you to pay taxes on on ALL your christmas gifts, if you get any.
There are so many ways to avoid paying a dime in "death tax", this entire thread is a waste of time. Time would be better spent consulting an estate planner or tax lawyer.
Hmmm...if the capital gains were realized and thus taxed when the person retired and made his/her 401(k) more liquid (as in a cash withdrawl to purchase a yacht), how it is justified to once again tax the asset when their son gets it?
You are still confused.
A person gets taxed on a particular gain. Done.
Another person (family or otherwise) gains wealth and it's taxed as such.
It's not complicated.
How the wealth was received is irrelevant.
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If you think that, I want you to pay taxes on on ALL your Christmas gifts, if you get any
Christmas gifts are not gifts received from an estate, but you probably know that.
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The death tax is NOT a tax on gains
There is no death tax. One who dies is not taxed.
One who gains is taxed. In this case it just happens to be from an estate as opposed to the stock market or winning on the Price is Right.
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My father's ranch is not the federal government's ranch,
Oh nice one. the ol' farmer excuse. Would be more effective if farmers were truly impacted by this, but they aren't and yet they also benefit from being subsidized.
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.
If you think that, I want you to pay taxes on on ALL your christmas gifts, if you get any.
This is a prime example as to how the liberal argument fails..
If I buy my child a new car for Christmas, its not taxed, but if I leave my vehicle as part of my estate, and it pushes them over the limits set by the government.. It costs millions...
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