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re: Burial insurance/plot
Posted on 5/2/13 at 9:30 am to OnTheBrink
Posted on 5/2/13 at 9:30 am to OnTheBrink
quote:I mean, I would prefer not to. But here's the thing. Assuming that death & taxes are inviolable, we will have to pay some taxes in some form. Inheritance/estate/death taxes (whatever you want to call them) are the least distortionary tax, precisely because everyone is going to die and there's nothing you can do to avoid it. It also strikes me as the most fair tax because its incidence falls upon people who didn't really earn the money; i.e., the heirs. For that same reason it strikes me as a pro-meritocratic tax. As opposed to, say, the income tax, which punishes you for being a high earner, the estate tax just punishes you for being related to a high earner.
Why should you have to pay taxes at all
Obviously estate taxes aren't perfect, and I wouldn't suggest that the government be funded 100% by estate taxes. And Poodlebrain can probably talk more intelligently than I can. But I am quite convinced that the efficient amount of estate taxes is something other than zero (which is what it effectively is now).
Posted on 5/2/13 at 9:37 am to Cold Cous Cous
Are there any ways around this?
For example, say someone is getting up there and health is starting to decline. Could that person send money once a year at an amount just under the amount that would get taxed as a gift? I believe it is $10k-$12k.
I get your point and understand the logic behind it, but damn, it just pisses me off that I have been taxed on that money my whole life, through income, interest, etc., and would try to leave my kids something only to get taxed again.
For lets just say a $100,000 gift upon someon'e death. roughly how much would the heirs receive?
For example, say someone is getting up there and health is starting to decline. Could that person send money once a year at an amount just under the amount that would get taxed as a gift? I believe it is $10k-$12k.
I get your point and understand the logic behind it, but damn, it just pisses me off that I have been taxed on that money my whole life, through income, interest, etc., and would try to leave my kids something only to get taxed again.
For lets just say a $100,000 gift upon someon'e death. roughly how much would the heirs receive?
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