Should inheritances be illegal? (Mexican, county, vote, million)

[sanspeur]

Originally Posted by Iamme73

No it hasn't the person who paid taxes is DEAD. The person who is getting the money has not paid any taxes on that money.

So the inheritor will be paying taxes once. Anything else?

There is something wrong with your thinking...Tax has been paid on the MONEY...It does not matter who paid it...Why should I and my kids work hard on the business, and diligently pay taxes over the years on the money we have earned, only to have the government steal more? I assume that there is little if any inheritance coming your way, and you are envious of those that do...

[Donn2390]

Originally Posted by PullMyFinger

Inheriting money is un-American IMO. But you won't hear the rich pukes who scream about welfare and unions admit that they were given free money off someone else's work.

The only people who would object to inheritance would be lazy losers who have nothing due to their lack of ambition and sacrifice.
Those who work to earn money and have excess when they die should be able to do with it whatever they wish. obama hasn't yet brought complete communism to this country, or it would be illegal..

[ovcatto]

Originally Posted by freemkt

Let's say you buy a $100K house on the Jersey Shore in the 1970s. You die 50 years later and the house is worth $2M. Your heir(s) enjoy a $1.9M gain tax-free (the estate is also not taxed if it does not exceed (?) $3M.)

I fine point but irrelevant nonetheless. If you inherit $200,000 or $2 million it is new income to the inheritor and is taxable as as such.

Let's keep it simple, getting any deeper just confuses folks.

[Iamme73]

Originally Posted by sanspeur

There is something wrong with your thinking...Tax has been paid on the MONEY...It does not matter who paid it...Why should I and my kids work hard on the business, and diligently pay taxes over the years on the money we have earned, only to have the government steal more? I assume that there is little if any inheritance coming your way, and you are envious of those that do...

Your line of thinking is ridiculous. So if a person gives another person $100,000 dollars taxes have already been paid by the giver.

Using your ridiculous line of thinking the person who gets the $100,000 shouldn't have to spend taxes on that money.

In fact, lets look at the lottery, people spend their money to buy lottery tickets, the winnings come from that money which has already been taxed, why then should the winner of the lottery pay taxes on all of that money that has already been taxed?

Why should people pay taxes on casino winnings when the money that money has already been taxed?

It doesn't work that way. The person who paid taxes on the inheritance is dead. The person who receives that inheritance isn't paying taxes twice, but once.

This is objective reality.

[djacques]

Originally Posted by sanspeur

Inheritance taxes are theft, because tax has already been paid on that money. That is why there is no inheritance tax in Canada.

It's only theft in the sense that all taxes are theft--that is, you are taking something of value from the unwilling.

Doing it twice doesn't alter the nature of what's happening.

[Kenneth-Kaunda]

inheritances should be fine , though must be subject to taxation like all other forms of income.

[Ford Beebe]

I would support the repeal of all inheritance taxes, in tandem with a revision of the tax code for the wealthy on "soft" income.

[Kenneth-Kaunda]

Originally Posted by sanspeur

There is something wrong with your thinking...Tax has been paid on the MONEY...It does not matter who paid it...Why should I and my kids work hard on the business, and diligently pay taxes over the years on the money we have earned, only to have the government steal more? I assume that there is little if any inheritance coming your way, and you are envious of those that do...

quite simply because it is income.

and that is how income tax should work.

and taxation is not theft, otherwise how would you have infrastructure, police, military, schools, housing etc?

[gizmo980]

Originally Posted by residinghere2007

I read that comment and thought it was pretty stupid. I know a lot of liberals who have money and property they will be leaving to their kids or other relatives.

Yep... as a liberal myself who stands to inherit a good deal (from my Democrat father), I would definitely NOT support them being illegal! I mean, who actually says that?

P.S. Based on the poll results so far, it seems that person was talking from their arse.

[djacques]

Originally Posted by Kenneth-Kaunda

and taxation is not theft, otherwise how would you have infrastructure, police, military, schools, housing etc?

That's a non-sequitur. You may as well say "Larceny is not theft, otherwise how would I have a flat-screen tv?"