Should we repeal almost all of the death tax, or all of it?
A18:
I say kill off the entire thing.
True Federalist (진정한 연방 주의자):
The estate tax has the property of being fairly easy to administer, but the rates are way too high, as evidenced by the fact that people engage in complicated schemes to avoid it. A 10% estate tax rate for estates over $1,000,000 is about optimal in my opinion, and the top marginal rate should not be any higher than 20%.
dazzleman:
Philosophically, I favor either no inheritance tax, or an inheritance tax with a low rate.
But I am concerned about our propensity to continually lower taxes while increasing spending. Under the Republicans today, we are doing what the Democrats did in the 1960s. The result was a long period of stagflation.
I don't favor more tax cuts until spending reductions are identified and implemented.
A18:
The inheritance tax raises very little revenue, given its wide base.
The Senate is now debating whether to repeal about 99% of it, or all of it. So the deficit is not really a good argument.
dazzleman:
Quote from: A18 on April 14, 2005, 09:21:15 PM
The inheritance tax raises very little revenue, given its wide base.
The Senate is now debating whether to repeal about 99% of it, or all of it. So the deficit is not really a good argument.
Well, maybe not. I'm not familiar with how much money we're talking about here.
Philosophically, I favor no tax over a small tax, because it's easier politically to expand something that already exists than it is to enact something totally new.
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