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Old 08-08-2016, 02:29 PM
 
56,988 posts, read 35,179,016 times
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Quote:
Originally Posted by Jaggy001 View Post
What is fair about inheritance tax?
If I have to pay tax on what I earn, then you should definitely pay taxes on what you DIDN'T earn.

Simple.
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Old 08-08-2016, 02:30 PM
 
Location: Southern Nevada
6,746 posts, read 3,361,971 times
Reputation: 10356
Quote:
Originally Posted by MPowering1 View Post
How about this - because it also means people inheriting far less also won't have to pay taxes.
The threshold at which estate taxes have to be paid is far greater than the amount most people would inherit.

A filing is required for estates with combined gross assets and prior taxable gifts exceeding $5,450,000 in 2016.
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Old 08-08-2016, 02:32 PM
 
14,221 posts, read 6,955,379 times
Reputation: 6059
Quote:
Originally Posted by colcat View Post
So you don't think that the money earned by these rich people wasn't taxed already? This may come as a shocker, but rich people pay income tax too.
The people who get this will pay zero percent in inheritance tax while you will pay 20-30 or maybe 40% on your income (both through payroll, income or sales tax). These people who did nothing to earn this wealth are laughing at people who defend this injustice. I simply dont get how ordinary working stiffs who are struggling to get by support people who laugh in their face.
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Old 08-08-2016, 02:32 PM
 
1,559 posts, read 2,369,696 times
Reputation: 2341
Quote:
Originally Posted by PCALMike View Post
Exactly, so why are you against equal opportunities? People inheriting billions tax free while other living in the gutter with drug addicted parents is not equal opportunities.

Why support a tiny elite who didnt work for their money steamrolling over ordinary folks who have to pay taxes on everything they earn?
First of all, if someone inherits "billions", they do pay taxes on that. Secondly, life just isn't fair. It never has been and never will be.
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Old 08-08-2016, 02:33 PM
 
Location: Suburb of Chicago
31,848 posts, read 17,595,087 times
Reputation: 29385
Quote:
Originally Posted by PCALMike View Post
A person gets free money for doing nothing other than being born to a wealthy family while regular, working class folks have to pay taxes on the income from the WORK THEY DO!

Its mind boggling to me how members of the 99% support turning America into a third world plutocracy with a tiny economic royalist elite at the top.
People in middle and lower class also get "free money" for doing nothing other than being born. You think they should be taxed on that? Even if someone is left only $500 - you think the government should get a portion of it just to screw people who get billions?

Now I've heard everything.
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Old 08-08-2016, 02:36 PM
 
Location: Suburb of Chicago
31,848 posts, read 17,595,087 times
Reputation: 29385
Quote:
Originally Posted by Camaro5 View Post
The threshold at which estate taxes have to be paid is far greater than the amount most people would inherit.

A filing is required for estates with combined gross assets and prior taxable gifts exceeding $5,450,000 in 2016.
Thanks for the education. This is why I have a tax guy. I pay zero attention to this kind of thing.

Also, I'm not in that bracket!
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Old 08-08-2016, 02:36 PM
 
14,247 posts, read 17,914,646 times
Reputation: 13807
Quote:
Originally Posted by colcat View Post
First of all, if someone inherits "billions", they do pay taxes on that. Secondly, life just isn't fair. It never has been and never will be.
Yep ... but the 'it's not fair crowd' always want a piece of what others have.
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Old 08-08-2016, 02:37 PM
 
Location: The ends DO NOT justify the means!!!
4,783 posts, read 3,740,370 times
Reputation: 1336
The absurdity of the "monetary" system has many absurdities built into it. People only have "excess" because the entire system is designed only to reward exploitation of one another. It has nothing to do with exchanges with one another. If we made exchanges with, rather than exploiting, one another, no one could accumulate more than they have given others. All exchanges would result in a net "profit" of zero. But we are predatory animals, not human beings.

As for parasites who live off of usury of fortunes created by usury, they are just parasites and have no place in the gene pool...
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Old 08-08-2016, 02:37 PM
 
14,221 posts, read 6,955,379 times
Reputation: 6059
Quote:
Originally Posted by colcat View Post
First of all, if someone inherits "billions", they do pay taxes on that. Secondly, life just isn't fair. It never has been and never will be.
Nope, the inheritance tax will be eliminated if right wing extremists get their will. And several working stiffs earning $30-40 000 a year support this!

America should be unfair? What kind of nonsense argument is that? No, it should not be even more unfair than it is, by eliminating the inheritance tax which will make sure it will be even easier for the tiny elite of economic royalists to buy your politician and rig the economy even further.

A few hundred super rich families fund 70% of the political campaigns in America now. They have you by the balls. And you want them to squeeze your balls a little harder? Its mind boggling to me.
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Old 08-08-2016, 02:39 PM
 
Location: Londonderry, NH
41,479 posts, read 59,756,720 times
Reputation: 24863
We apply Income tax on Lottery winners. Why not apply it to inheritors that have won life's lottery by choosing wealthy parents?


I think we should have an income tax based on all income from all sources with a base deductible set at the 90th percentile. That way 90% of us would pay no income tax and inheritors and lottery winners would be able to deduct the first 200 Grand or so.
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