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Old 05-18-2007, 03:11 PM
 
Location: Your mind
2,935 posts, read 4,990,458 times
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One of the fairest methods of taxation, or an evil form of wealth-snatching? Should it be repealed or increased?
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Old 05-18-2007, 03:36 PM
 
Location: SE Alaska
959 posts, read 2,355,311 times
Reputation: 460
Absolutely an unfair, wealth-snatching tax that should be eliminated.
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Old 05-18-2007, 04:02 PM
 
Location: Your mind
2,935 posts, read 4,990,458 times
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Quote:
Originally Posted by Alaskagrl View Post
Absolutely an unfair, wealth-snatching tax that should be eliminated.
But why is it unfair to tax unearned wealth?
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Old 05-18-2007, 04:16 PM
 
Location: SE Alaska
959 posts, read 2,355,311 times
Reputation: 460
Maybe because it's a PERSONAL CHOICE (and always should be)...for those who die to leave their money to whoever the heck they darn well please!!

Would you want the estate tax to hold true if the "estate" was donated to your favorite charity?
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Old 05-18-2007, 04:16 PM
 
Location: Maple Valley, WA
982 posts, read 3,301,549 times
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Quote:
But why is it unfair to tax unearned wealth?
What do you mean? 'Unearned' as in, those who receive the estate didn't earn it?
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Old 05-18-2007, 04:18 PM
 
Location: Your mind
2,935 posts, read 4,990,458 times
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Quote:
Originally Posted by mrsengle View Post
What do you mean? 'Unearned' as in, those who receive the estate didn't earn it?
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Old 05-18-2007, 04:21 PM
 
Location: Your mind
2,935 posts, read 4,990,458 times
Reputation: 604
Quote:
Originally Posted by Alaskagrl View Post
Maybe because it's a PERSONAL CHOICE (and always should be)...for those who die to leave their money to whoever the heck they darn well please!!

Would you want the estate tax to hold true if the "estate" was donated to your favorite charity?
But you can't run a government without taxing exchanges between people. Isn't it more fair to tax an inheritance, where the recipient has contributed nothing in return, than a sale or income, where both parties contribute something?
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Old 05-18-2007, 04:26 PM
 
Location: Atlanta
739 posts, read 826,396 times
Reputation: 279
The estate tax should certainly be appealed. First, the person who amassed the estate paid taxes on the income as he/she earned it. They paid taxes on any investment proceeds that were not part of a tax-deferred retirement account. They paid scads of property taxes on the real estate that might be part of that estate.

So why in the heck do people think that if that person worked hard and saved so that they might help out their children or grandchildren that they should have to pay taxes on that money? The government loves the estate tax because instead of the individual giving the assets to his/her heirs, the government gets to decide who to give it to or otherwise waste it.

Now, the good thing is that there are very skilled estate tax attorneys and CPA's who can advise you how to minimize your estate tax obligation. My own parents will leave a substantial estate and we will pay very little in estate taxes.
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Old 05-18-2007, 04:28 PM
 
Location: SE Alaska
959 posts, read 2,355,311 times
Reputation: 460
Quote:
Originally Posted by fishmonger View Post
But you can't run a government without taxing exchanges between people. Isn't it more fair to tax an inheritance, where the recipient has contributed nothing in return, than a sale or income, where both parties contribute something?
Why would anyone assume both parties didn't contribute something for an inheritance? Like support, on a child's part, for their parents; emotional support, physical support in old age...you want to tax this instead of goods or services?

What about if a child helped it's parents build the business the chile inherits money from?

The sooner they eliminate this tax, the better. Inheritance helps the middle class exist.
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Old 05-18-2007, 04:49 PM
 
Location: The great state of New Hampshire
793 posts, read 3,117,443 times
Reputation: 457
Yes this tax should be eliminated in no uncertain circumstances....more illegal and unconstitutional than even the personal income tax.
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