Thursday, July 9, 2009

Is it fair to tax inheritance since those people already paid taxes on that money?

What do liberals like robert want done with inheritances?





by robert c Member since:


July 24, 2007


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Member Since: July 24, 2007


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I`ve been wondering why conservatives want the rich dependent on their inheritance entitlements for their whole lives. Aren`t you aware that two per cent are inheriting most of the national wealth and this is what is causing people to do without?

Is it fair to tax inheritance since those people already paid taxes on that money?
I don't care what anybody says. This is a DOUBLE tax in it's purest form. It is pure socialist wealth redistribution in it's purest form.


I will never get an inheritance unless I have some long lost uncle somewhere. But if I were to actually build an estate through my own hard work and wanted to pass it along to my kids, the government has NO business taxing that money at such high rates yet again.


55% is just way too ridiculous. Now if after that money is inherited, and money is made from it through interest savings or stocks and bonds, it will get taxed which is perfectly fair. But to tax it just because it changes hands is beyond stupid. It's blatant theft.





Others are saying "oh c'mon, You get the first two million tax free".


So what! If you've built a business, and a huge bank account along with it that is worth 50 million, taking 28 million of that "just because", is plain wrong.


After all, most rich people get that way because of smarts, ingenuity, and inventiveness.


The government has none of that. They are more prone to misuse those funds than someone that inherited those funds.





I can promise you this. If I were to be rich like that, and this "death tax" is re-invigorated, I would be hiding mine in all kinds of overseas accounts and overseas business ventures. Anything to keep the U.S. governments grubby hands off of it. As a matter of fact, that is what WILL happen. And how good is that for the economy?


Taking money out of the wealthy's hands leads to lower national cash flows, lost jobs and business's etc. The list is huge, yet people that support this "death tax", obviously don't have the depth of thought that they think they have.
Reply:You should be able to pass anything on to your children tax free..





Seems an awful infringement of rights to not be able to pass on economic security to your offspring!
Reply:is it fair to tax the poor and not give them tax loopholes that the rich get? and write the loophole laws in words that only an expensive tax lawyer and CPA can understand?
Reply:Inheritance is not the only thing that is taxed more than once. You pay taxes on a new car. Then it is taxed again when it is sold as a used car.
Reply:The 55% estate tax may had been high, but the boundless greed, hatred and lies of conservatives manged to get a temporary elimination of estate taxes , good thing they come back in 2011. And estate taxes hadn't kicked in until after $2 million. Amazing how scum lazy rich are so greedy that they even have the nerve to argue they are entitled to tax free money above that amount.





Conservatives are out of power partly to the manner they have ripped off America for their boundless greed, as if they solely earned their wealth.
Reply:it's not right and RON PAUL agrees





http://www.ronpaul2008.com
Reply:Being taxed twice like that is unfair! It's also unfair to tax people who receive their SS checks! They already paid for it!
Reply:No, it is not fair. It is government theft.





And, Liberals like it because they have no problem with wealth redistribution schemes, but that doesn't make them socialists. %26lt;yeah right.%26gt;
Reply:Inheritance is "unearned income" and, legally, should be taxed the same as any other unearned income (i.e. lottery winnings). Of course, you can get a tax break if you donate your estate to charity. Isn't that a much better legacy to leave?





You aren't actually being taxed twice on that money. You are taxed once, as earned income, and the person you leave it to is taxed once, as unearned income, if it exceeds $2million.
Reply:I thought conservatives wanted people to work for their money...





you aren't working for it if your dad gives it to you...





and you could use that money to make SURE everyone has more equal opportunites, so that everyone could compete and be able to work...





isn't it like over 200K or something? 200K is a nice chunk for anyone to leave behind...
Reply:Oh stop it.


You get like the first $2 Million tax free.


The estate tax isn't putting anyone in the poorhouse. It's helping the Paris Hiltons of the country contribute to society.
Reply:I don't think that it's fair at all, but it's the government....It's made up of a bunch of morons and retards.
Reply:So what you're saying is that people who didn't earn the money should get it for free? (parents to children) Sounds like you're advocating welfare to me...





Seriously, people being able to give money to their children or otherwise only perpetuates the rich staying rich and the poor staying poor. Come on, if we are truly about equality, and truly about the "self-made man," taking a small chunk of thousands, hundreds of thousands, or millions of dollars to go back to the system and the people who gave those people their wealth to begin with, is only fair.
Reply:No. Liberals want to redistribute wealth believing that there is some magic formula for making everyone financially equal--true voodoo economics.





Wealth is obtained and maintained by hard work, frugality, intelligent investment, avoiding debt, divorce, gambling, illegitimacy, drug/alcohol addiction and other things that rob you of wealth.





Conservatives do not want ANYONE dependent, that is why conservatives do not want the government stealing their wealth after a lifetime accumulating it. The biggest problem is that wealth redistributed to heirs vanishes for the same reason that wealth redistribution does not work when government does it--some heirs waste it seeking instant gratification from money--and the inherited wealth disappears.





People inheriting and maintaining wealth by prudent reinvestment causes no one to do without. Greed, avarice, vice, and foolishness cause people to do without. Have a baby while in your teens and out of wedlock--guaranteed poverty. Ignorance--drop out of high school--guaranteed poverty. Vice--Meth addiction--guaranteed poverty. Divorce--waste tens of thousands of dollars on attorneys' fees, not to mention lost productivity, forced sales of appreciating assets--guaranteed poverty.





The Inheritance Tax is a vain attempt to redistribute wealth motivated by the liberal idealogical jealousy of rich people and the liberal rich person's psychotic guilt over being rich.
Reply:MORE Taxes that's what we need. Vote for Hillary. Economic Stimulus that's what we need, more food stamp money, more money to the member of society who are made dependant on government handouts. Remember comrads everyone is equal and while some use there stimulus package hundred dollar handout to buy a quick high, I have used what the government didn't take from my hard working father's estate to invest in my business and hire two more employees.
Reply:Regardless of anyone's opinion, if taxes were paid on the money once, then it shouldn't be re-taxed, only the interest accrued.


I have never had nor ever will have an inheritance, by the way. It just seems reasonable. Besides, where does that money go? I don't know, probably not to any of us.
Reply:Andrew Carnegie supported the high inheritance tax. Fair is a subjective term. It seems perfectly fair to me.
Reply:Inheritance is like a "gift" that you did not earn but only received by the "luck" of your birth. And yes, gifts and prizes are taxed. And you don't think that those giving the gifts and prizes didn't ALSO pay taxes on their givaway before hand? Deal.





Funny how inconsistent you can be! So much for earning your way in life. The taxes that your relatives (or the sweepstakes companies) had to pay has nothing to do with what you did--and why should it?


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