Nothing like taxing money twice.
Hell no
Get rid of that backwards ass shit right now
Sure, it is basically income for the people getting it.
First off, they don't even tax the first several million dollars
Also, nearly all money is taxed multiple times, stop acting like the estate tax is special. I get taxed on my income. Then that money, which has already been taxed, gets taxed again nearly any time I buy shit (sales tax), earn on my savings (and that's taxed at income rates, not capital gains, so that's a double fuck you), or do anything else other than keep the damn money in a mattress.
Bill earns 5 million dollars. He pays income tax and has 3.5 million left.
Bill dies and leaves his money to his good friend Fred the hobo.
Fred has done no work to earn any money, but gets an income of 3.5 million dollars from the late Bill.
Fred then pays the estate tax and is left with 2.5 million.
Both Bill and Fred were only taxed a single time on their new income.
Estate tax is a good tax. First off, they don't even tax the first several million dollars, so it only even hits the ultra wealthy. The estate tax will never effect 99% of this board, and that's an underestimate, if anything. And it helps limit how much of a giant leg up wealthy families can pass on to prevent a permanent nobility (well, restrict it...we definitely still have a permanent nobility).
The estate tax will never effect 99% of this board, and that's an underestimate, if anything
And it helps limit how much of a giant leg up wealthy families can pass on to prevent a permanent nobility (well, restrict it...we definitely still have a permanent nobility).
Also, nearly all money is taxed multiple times, stop acting like the estate tax is special. I get taxed on my income. Then that money, which has already been taxed, gets taxed again nearly any time I buy shit (sales tax), earn on my savings (and that's taxed at income rates, not capital gains, so that's a double fuck you), or do anything else other than keep the damn money in a mattress.
Both Bill and Fred were only taxed a single time on their new income.
Estate tax is a good tax. First off, they don't even tax the first several million dollars, so it only even hits the ultra wealthy. The estate tax will never effect 99% of this board, and that's an underestimate, if anything. And it helps limit how much of a giant leg up wealthy families can pass on to prevent a permanent nobility (well, restrict it...we definitely still have a permanent nobility).
Also, nearly all money is taxed multiple times, stop acting like the estate tax is special. I get taxed on my income. Then that money, which has already been taxed, gets taxed again nearly any time I buy shit (sales tax), earn on my savings (and that's taxed at income rates, not capital gains, so that's a double fuck you), or do anything else other than keep the damn money in a mattress.
streamofthesky posted...
Estate tax is a good tax. First off, they don't even tax the first several million dollars, so it only even hits the ultra wealthy. The estate tax will never effect 99% of this board, and that's an underestimate, if anything. And it helps limit how much of a giant leg up wealthy families can pass on to prevent a permanent nobility (well, restrict it...we definitely still have a permanent nobility).
Also, nearly all money is taxed multiple times, stop acting like the estate tax is special. I get taxed on my income. Then that money, which has already been taxed, gets taxed again nearly any time I buy shit (sales tax), earn on my savings (and that's taxed at income rates, not capital gains, so that's a double fuck you), or do anything else other than keep the damn money in a mattress.
This. And who better to tax than dead rich people?
Claude_Frollo posted...
streamofthesky posted...
Estate tax is a good tax. First off, they don't even tax the first several million dollars, so it only even hits the ultra wealthy. The estate tax will never effect 99% of this board, and that's an underestimate, if anything. And it helps limit how much of a giant leg up wealthy families can pass on to prevent a permanent nobility (well, restrict it...we definitely still have a permanent nobility).
Also, nearly all money is taxed multiple times, stop acting like the estate tax is special. I get taxed on my income. Then that money, which has already been taxed, gets taxed again nearly any time I buy shit (sales tax), earn on my savings (and that's taxed at income rates, not capital gains, so that's a double fuck you), or do anything else other than keep the damn money in a mattress.
This. And who better to tax than dead rich people?
yeah but that's like saying it ain't me so screw them, that tax doesn't apply to me
Won't somebody think of the rich!?
Won't somebody think of the rich!?
Lightning Bolt posted...
Won't somebody think of the rich!?
Won't somebody think of those spoiled brats who have had mommy and daddy pay their way through life? Now they're getting less of an inheritance! The horror!
Lightning Bolt posted...
Won't somebody think of the rich!?
It's not even the rich, it's also countless working class Americans. The rich who will be affected by this are a drop in the bucket (in terms of numbers) compared to everybody else.
Claude_Frollo posted...
Lightning Bolt posted...
Won't somebody think of the rich!?
Won't somebody think of those spoiled brats who have had mommy and daddy pay their way through life? Now they're getting less of an inheritance! The horror!
Again, the people most affected aren't the rich, but instead working-class Americans. Pretty much every new tax is advertised as trying screw the rich but instead it hits the everybody else a lot harder because they haven't as much money to throw around in the first place. However, the myth of going after the rich is popular because it taps into innate envy and jealousy. "How dare they have that money! They couldn't possibly have done anything to earn it!"
Zeus posted...
Claude_Frollo posted...
Lightning Bolt posted...
Won't somebody think of the rich!?
Won't somebody think of those spoiled brats who have had mommy and daddy pay their way through life? Now they're getting less of an inheritance! The horror!
Again, the people most affected aren't the rich, but instead working-class Americans. Pretty much every new tax is advertised as trying screw the rich but instead it hits the everybody else a lot harder because they haven't as much money to throw around in the first place. However, the myth of going after the rich is popular because it taps into innate envy and jealousy. "How dare they have that money! They couldn't possibly have done anything to earn it!"
Most working-class Americans don't have a 5.5 million dollar estate.
And no, the children receiving the inheritance didn't do anything to get the money. They just had the good fortune of spawning from the genitalia of a wealthy person.
This isn't a thing anywhere in Canada. It doesn't make any sense why it would be a thing and I have no idea who would ever support it.
The money was already taxed
they're just going to tax it again when someone buys something with it
wake up people!!!
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
The estate tax may be stupid given the absurd number of times that money has already been taxed, but how do you make up for the shortfall?
Dikitain posted...
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
My father does not have anywhere near five million dollars and if he did I'd understand the law and accept some of my inheritance being taken in tax. I'm not entitled to every last penny of money that I didn't even earn.
I guess it's possible I'd see it differently if I was due for millions in inheritance, but it'd be more out of greed than any rationale.
Claude_Frollo posted...
Dikitain posted...
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
My father does not have anywhere near five million dollars and if he did I'd understand the law and accept some of my inheritance being taken in tax. I'm not entitled to every last penny of money that I didn't even earn.
I guess it's possible I'd see it differently if I was due for millions in inheritance, but it'd be more out of greed than any rationale.
So you are fine with people being charged money for having a relative die?
You are a truly sick and selfish person.
Dikitain posted...
Claude_Frollo posted...
Dikitain posted...
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
My father does not have anywhere near five million dollars and if he did I'd understand the law and accept some of my inheritance being taken in tax. I'm not entitled to every last penny of money that I didn't even earn.
I guess it's possible I'd see it differently if I was due for millions in inheritance, but it'd be more out of greed than any rationale.
So you are fine with people being charged money for having a relative die?
You are a truly sick and selfish person.
See, the constant use of this kind of misleading framing is one of the reasons I so fervently support it. The opposition has to resort to such shitty tactics because their arguments don't stand.
Claude_Frollo posted...
Dikitain posted...
Claude_Frollo posted...
Dikitain posted...
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
My father does not have anywhere near five million dollars and if he did I'd understand the law and accept some of my inheritance being taken in tax. I'm not entitled to every last penny of money that I didn't even earn.
I guess it's possible I'd see it differently if I was due for millions in inheritance, but it'd be more out of greed than any rationale.
So you are fine with people being charged money for having a relative die?
You are a truly sick and selfish person.
See, the constant use of this kind of misleading framing is one of the reasons I so fervently support it. The opposition has to resort to such shitty tactics because their arguments don't stand.
How else is there a way to explain it? You are forcing people to pay money because someone they cared about died. Doesn't matter if that person has 1 dollar or 1 trillion, that is exactly what an estate tax is.
You act like they money they actually worked for is being taken
So you are fine with people being charged money for having a relative die?
Dikitain posted...
Claude_Frollo posted...
Dikitain posted...
Claude_Frollo posted...
Dikitain posted...
When your father dies, would you like someone to come up to you and say "Pay me money, your father died"?
My father does not have anywhere near five million dollars and if he did I'd understand the law and accept some of my inheritance being taken in tax. I'm not entitled to every last penny of money that I didn't even earn.
I guess it's possible I'd see it differently if I was due for millions in inheritance, but it'd be more out of greed than any rationale.
So you are fine with people being charged money for having a relative die?
You are a truly sick and selfish person.
See, the constant use of this kind of misleading framing is one of the reasons I so fervently support it. The opposition has to resort to such shitty tactics because their arguments don't stand.
How else is there a way to explain it? You are forcing people to pay money because someone they cared about died. Doesn't matter if that person has 1 dollar or 1 trillion, that is exactly what an estate tax is.
No it isn't. The way you're talking is misleading. It paints the picture that these people are going to have whatever money they've earned that's sitting in their bank accounts taken from them because a relative happened to die. That's not the case. Some of the money from the FIVE MILLION dollar inheritance that they will eventually receive is being taken. You act like they money they actually worked for is being taken. It's not.
And you think I'm sick and selfish? Because I could certainly frame being so adamant about profiting every last cent off of your loved one's death is the sick and selfish thing. People who eagerly wait for their rich relatives die to be handed their entire fortune for nothing is what's sick and selfish.
Ditkain you're making an emotional appeal that can be stretched a lot further. Why does this man have to pay property taxes on the house he inherited from his parents?? They just died!! He only has it because they died and he's in grieving, stop coming after his property taxes!
It's income that's taxed, end of story.
