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so its ok to rob people if those people aren't in ones own demographic?
One last time for the slow readers here, I am against the Estate Tax. That clear enough for you, if not do not reply, I will not reply to people that simply make up crap they think I posted.
So it would seem that a quick summary of the first 4 responses would be: Yes, cut the estate tax. The super-rich should keep their money no matter what impact it has on the rest of society because, as a matter of basic principle, the money is theirs, plain and simple.
It seems to follow from this basic principle that property rights are worth more than human life. E.g., If a child is dying, you would not forcibly take anything from a rich person, even if it were absolutely the only option available to save the child because, in principle, the rich person's property rights are a higher priority than the child's life. Is that essentially correct?
why not get rid of the income tax, the estate tax, the luxury taxes, and the corporate tax...and replace it with a consumption tax...???
liberals will say no...why, because then they lose control, they lose the boogie-man of the rich don't pay enough taxes
nearly 50% of incomes is not reported....that's nearly 9 trillion in taxable income....time to get rid of the income tax
a consumption tax like explained at www.fair-tax.org can bring in as much as 5 trillion in revenue to the federal government....and its fair, unlike the current system
While I do disagree with estate taxes, a form of double taxation at its worst, I would add that giving tax breaks to the rich while not giving the middle class a tax break tells one all they need to know about who the Repubs and Trump actually support.
No, but only big estates, the rich, are affected, by the tax, go to the IRS website and learn. I said I was against it, did you miss that? Oh and I went through that last year, did not hurt me in the lease bit because the estate was not all that much per the IRS.
the tax impacts any estate over $5.49 million (or roughly $11 million per couple). Those aren't "only big estates, the rich" as was pointed out earlier in this thread.
The article also says that which state you live in could be a problem too...so Bernie should not worry about what the Big Bad Feds are doing so much and take a closer look at the states.
Last edited by lunetunelover; 06-09-2017 at 01:07 PM..
Reason: correct typo
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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To all the people defending these large inheritances not being taxed, it leads to people like Paris Hilton, who then don't have to try to contribute to society because they inherited a ton of money. I find it similar to the aristocracy in the UK
Have they? For the most part you may be correct but I believe trump is proud of the fact that he is not paying any taxes on his personal income.
If you lose a lot of money in business that is the way it works and the way it should work.
Suppose I lose a million dollars in one year and profit a million dollars the next year, if the government were to tax me at 30% on my profit in the second year I'm still $300K in the hole. If I were to profit a million dollars the next year that is where you would tax it because I have generated profit that is no longer needed to cover losses.
This is sound tax policy unless you want to bankrupt companies on shaky ground and/or kill off risky ventures in business that often produce huge tax revenues in the long run.
To all the people defending these large inheritances not being taxed, it leads to people like Paris Hilton, who then don't have to try to contribute to society because they inherited a ton of money. I find it similar to the aristocracy in the UK
You think wealthy people don't contribute to society? Really?
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