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"For I agree with you that there is a natural aristocracy among en. The grounds of this are virtue and talents. ... There is also an artificial aristocracy founded on wealth and birth, without either virtue or talents; for with these it would belong to the first class. The natural aristocracy I consider as the most precious gift of nature for the instruction, the trusts, and government of society. And indeed it would have been inconsistent in creation to have formed man for the social state, and not to have provided virtue and wisdom enough to manage the concerns of the society. May we not even say that that form of government is the best which provides the most effectually for a pure selection of these natural aristoi into the offices of government? The artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent it's ascendancy."
Sorry, it's not a bumper sticker. Italics are mine, the words are Jefferson's.
Sure, and most wealthy people are savvy enough to have every mechanism in place to protect as much of their wealth as possible.
Again, so much time wasted by the "have nots," concerning themselves with the problems of the super rich. I just don't get it. "They" can take care of themselves, and have enough money to hire people who can take care of sheltering their assets from the tax man. Don't worry about the problems of the rich, cause they sure as hell don't worry about your problems.
An estate valued at 3.5m is not super wealthy. Few in America have such, but I do not view it as super rich. To me super rich would not start until after 100m.
There is no way to completely avoid the estate tax if it is in effect. The only legal means just delay the tax rather than eliminate it.
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.
Then you should declare and pay taxes on every gift you receive.
Govt wants to tax every dollar every time it changes hands...pure and simple..like it or not..that is their goal..Weiner could not have a more appropriate last name...we in NY are cursed with all of these liberal nuts..thank God I bought my house in NC..I would not invest a dime in NYS..
Govt wants to tax every dollar every time it changes hands...pure and simple..like it or not..that is their goal..Weiner could not have a more appropriate last name...we in NY are cursed with all of these liberal nuts..thank God I bought my house in NC..I would not invest a dime in NYS..
Actually, the government don't want to tax every dollar every time it changes hands. They wall it all period.
They are talking about balancing the budget, and they are unwilling to cut any spending. So if they tax everyone at 100%, they still cannot balance the budget without cutting any spending.
"For I agree with you that there is a natural aristocracy among en. The grounds of this are virtue and talents. ... There is also an artificial aristocracy founded on wealth and birth, without either virtue or talents; for with these it would belong to the first class. The natural aristocracy I consider as the most precious gift of nature for the instruction, the trusts, and government of society. And indeed it would have been inconsistent in creation to have formed man for the social state, and not to have provided virtue and wisdom enough to manage the concerns of the society. May we not even say that that form of government is the best which provides the most effectually for a pure selection of these natural aristoi into the offices of government? The artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent it's ascendancy."
Sorry, it's not a bumper sticker. Italics are mine, the words are Jefferson's.
So said a man who himself was the son of a rich planter who upon his father's death inherited 2,000 acres and 50 slaves.
Just like in any other social strata, there are the invaluable and the valueless.
If one absolutely owns, then one can endow his property to his heirs.
If one is a socialist "human resource" who does not absolutely own, then the collective state takes precedence.
Estate Tax is not a double dip, it's taxing a gain just like other taxes. Get over it.
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.
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Estate Tax is not a double dip, it's taxing a gain just like other taxes. Get over it.
