The death tax

[2952-0-0]

They should be raised.

After all, ladies and gentlemen, we have here on this forum living proof of what happens to a kid who doesn't work and spends all his time playing with kids in Thailand while agnoising others over the internet. A higher death tax would mean that everyone will have to work for their bread, regardless of background (I also support lower income taxes with this).

Whew. That felt refreshing.

[TeePee4Prez]

Option 2.

[opebo]

a kid who doesn't work and spends all his time playing with kids in Thailand while agnoising others over the internet.

'agnoising'?  By the way, I haven't inherited yet, so I don't see how this really applies.  But thanks for the 'kid'.

[Ebowed]

a kid who doesn't work and spends all his time playing with kids in Thailand while agnoising others over the internet.

'agnoising'? By the way, I haven't inherited yet, so I don't see how this really applies. But thanks for the 'kid'.

9999

[ATFFL]

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

[opebo]

a kid who doesn't work and spends all his time playing with kids in Thailand while agnoising others over the internet.

'agnoising'? By the way, I haven't inherited yet, so I don't see how this really applies. But thanks for the 'kid'.

9999

What does 9999 mean?

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

Actually I like that - just treat it as income in that year.  So if the top tax rate were 70%...

[Ebowed]

a kid who doesn't work and spends all his time playing with kids in Thailand while agnoising others over the internet.

'agnoising'? By the way, I haven't inherited yet, so I don't see how this really applies. But thanks for the 'kid'.

9999

What does 9999 mean?

That was your 9,999th post.  We were all counting up to 10,000.

[Emsworth]

The estate tax should be completely abolished.

You must be logged in to read this quote.

I don't agree with this justification that estate taxes should be raised so that everyone will have to work for himself. Under the same logic, we should also ban the lottery and prohibit gifts.

[bullmoose88]

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

^^

[opebo]

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

^^

Actually I don't think it is entirely fair to tax inheritance as income all on just the one year of the happy event.  After all, the typical heir has 'earned' the money over a lifetime of asskissing.  No, I think there should be a large exemption, say a few million, and then maybe half the amount above that.  Either that or include the lump sum as income, but allow the heir to spread it out over a number of tax years.

[ATFFL]

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

^^

Actually I don't think it is entirely fair to tax inheritance as income all on just the one year of the happy event.  After all, the typical heir has 'earned' the money over a lifetime of asskissing.  No, I think there should be a large exemption, say a few million, and then maybe half the amount above that.  Either that or include the lump sum as income, but allow the heir to spread it out over a number of tax years.

That's not work, that's an investment.  All that asskissing may pay off with being written and and watching themoney go to your great aunt's pet cat, Mittens.

[opebo]

Abolished.  The person getting the money/goods should be taxed at their normal income tax rate.

^^

Actually I don't think it is entirely fair to tax inheritance as income all on just the one year of the happy event.  After all, the typical heir has 'earned' the money over a lifetime of asskissing.  No, I think there should be a large exemption, say a few million, and then maybe half the amount above that.  Either that or include the lump sum as income, but allow the heir to spread it out over a number of tax years.

That's not work, that's an investment.  All that asskissing may pay off with being written and and watching themoney go to your great aunt's pet cat, Mittens.

Yes, I'm aware of the terrible risk, believe me.  But what can one do?  The chance at something is better than nothing.

[nclib]

A higher death tax would mean that everyone will have to work for their bread, regardless of background

Agreed.

I voted Option 1.

You must be logged in to read this quote.

I don't agree with this justification that estate taxes should be raised so that everyone will have to work for himself. Under the same logic, we should also ban the lottery and prohibit gifts.

As far as the lottery goes, a person has to choose (and therefore risk losing money) to buy a lottery ticket. Everyone has an equal chance of winning (assuming they buy the same number of tickets). With inheritance, a person has no control over (and cannot influence) how much they inherit.

[Dave from Michigan]

abolish it

[MaC]

abolish it.  It's a sad representation of how immoral government can be when you can work your whole life, put money away, invest wisely, and even in death, government will not leave you be.  Opebo recieving money does not affect my position on this-why should it?  Opebo will probably just go around wasting it anyways, as for me, I'll probably put it into a savings fund of some sort.  At least if this tax is abolished I can benefit by putting my parent's money to a good cause, rather than wondering what the government is going to waste it on.

[Ebowed]

Hint for Dean: next time, call it the "estate tax" and you'll get a more positive response.

[Emsworth]

As far as the lottery goes, a person has to choose (and therefore risk losing money) to buy a lottery ticket. Everyone has an equal chance of winning (assuming they buy the same number of tickets).

That, however, is not relevant to the justification that "a higher death tax would mean that everyone will have to work for their bread." Abolishing the lottery would also mean that "everyone" will have to work.

[CARLHAYDEN]

I have given the subject of the estate tax a lot of thought over the years.

If you hire a clever lawyer, and do a little careful planning, you can legally avoid much of such taxes.

The basic question comes back to what is the least odious form of taxation to support legitimate government services.

While I believe the exemption in the current tax are too low, causing hardship on family owned businesses/farms.

However, aside from increasing the deduction, it seems to me that the tax is quite reasonable.

[David S]

abolish it.

[Giant Saguaro]

I think they should be abolished. I think the estate and/or death tax is really a ridiculous tax - it's the principle behind it. The government should not tax my children/grandchildren on what I want to leave behind to those who I want to leave it to.

It will not make anyone 'work harder.' As Carl points out, wealthier people will find enough ways around them and it really won't hurt them that badly to begin with, so it just ends up sticking it to the smaller guy, the person with the farm or the middle class person. An outrageous tax, really.

[TeePee4Prez]

I think they should be abolished. I think the estate and/or death tax is really a ridiculous tax - it's the principle behind it. The government should not tax my children/grandchildren on what I want to leave behind to those who I want to leave it to.

It will not make anyone 'work harder.' As Carl points out, wealthier people will find enough ways around them and it really won't hurt them that badly to begin with, so it just ends up sticking it to the smaller guy, the person with the farm or the middle class person. An outrageous tax, really.

I think the estate tax is one of the best ways to keep a Democracy from becoming feudalism like Czarist Russia.

[Emsworth]

I think the estate tax is one of the best ways to keep a Democracy from becoming feudalism like Czarist Russia.

In a feudal society, one group is the direct superior of another, the latter being obliged to serve the former as vassals. Such a situation will never arise in a democratic republic, where all are equals in the eyes of the law, with equal say in the governance of the nation, regardless of the estate tax.

[TeePee4Prez]

I think the estate tax is one of the best ways to keep a Democracy from becoming feudalism like Czarist Russia.

In a feudal society, one group is the direct superior of another, the latter being obliged to serve the former as vassals. Such a situation will never arise in a democratic republic, where all are equals in the eyes of the law, with equal say in the governance of the nation, regardless of the estate tax.

Czarism in Russia didn't happen overnight.  It was mostly people's desperation and not having the estate tax keeps one family hoarding all the money.

[Emsworth]

Czarism in Russia didn't happen overnight.  It was mostly people's desperation and not having the estate tax keeps one family hoarding all the money.

Families don't tend to hoard away all of their money. They actually do spend it, invest it, and so forth.

There are several countries in the world that have no estate taxes, yet have not become feudalistic.

[opebo]

You must be logged in to read this quote.

I don't agree with this justification that estate taxes should be raised so that everyone will have to work for himself. Under the same logic, we should also ban the lottery and prohibit gifts.

As far as the lottery goes, a person has to choose (and therefore risk losing money) to buy a lottery ticket. Everyone has an equal chance of winning (assuming they buy the same number of tickets). With inheritance, a person has no control over (and cannot influence) how much they inherit.

Well actually one has some control - one can kiss the ass of the elderly relative assiduously for years, or tell them to go  off.  Naturally the latter is much more enjoyable, but usually the first course would be more likely to lead to the desired result.