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I don't understand inheritance tax

Posted on 1/18/16 at 8:09 pm
Posted by mailman
Houston
Member since Jul 2009
6143 posts
Posted on 1/18/16 at 8:09 pm
Are you okay with taxes on inheritance?
"He will create a progressive estate tax on the top 0.3 percent of Americans who inherit more than $3.5 million." -Bernie Sanders

I don't understand stand why money should be taxed if it's transferred between two people and the point of raising the tax.

Tax me because I'm rich sure, but after I make money and die I should be able to give my kids everything without being taxed further.
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68268 posts
Posted on 1/18/16 at 8:10 pm to
Amen
Posted by fisherbm1112
Baton Rouge
Member since Jan 2010
6566 posts
Posted on 1/18/16 at 8:10 pm to
I agree as will most others but sadly you have to pay it.
Posted by CtotheVrzrbck
WeWaCo
Member since Dec 2007
37538 posts
Posted on 1/18/16 at 8:11 pm to
That's why it is best to distribute inheritance while grampy is still alive.
Posted by Teddy Ruxpin
Member since Oct 2006
39555 posts
Posted on 1/18/16 at 8:11 pm to
Well, the good thing is most people under the current structure won't even sniff the inheritance tax.

However, I do not like the concept at all anyways.
Posted by Richards Cranium
Member since Sep 2015
443 posts
Posted on 1/18/16 at 8:11 pm to
You have my vote
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80764 posts
Posted on 1/18/16 at 8:12 pm to
quote:

Tax me because I'm rich sure, but after I make money and die I should be able to give my kids everything without being taxed further.

That is what it should be. Double dipping is no bueno
Posted by VetteGuy
Member since Feb 2008
28092 posts
Posted on 1/18/16 at 8:12 pm to
Bernie and Warren can EAD.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
67025 posts
Posted on 1/18/16 at 8:15 pm to
The idea is to force businesses to incorporate, so that control cannot remain within families. The estate tax is nothing but envy codified in the tax code.
Posted by Lee Chatelain
I love the OT!
Member since Oct 2008
11331 posts
Posted on 1/18/16 at 8:16 pm to
quote:

Tax me because I'm rich sure, but after I make money and die I should be able to give my kids everything without being taxed further.


B/C the government is entitled. They created entitlemnet!
Posted by Spankum
Miss-sippi
Member since Jan 2007
55981 posts
Posted on 1/18/16 at 8:17 pm to
You have to inherit one hell of a lot of money before you pay a penny of inheritance tax.
Posted by Jake88
Member since Apr 2005
68059 posts
Posted on 1/18/16 at 8:19 pm to
Inheritance tax is evil. Death is a ticket to government revenue. Something is inherently wrong with that.
Posted by VetteGuy
Member since Feb 2008
28092 posts
Posted on 1/18/16 at 8:20 pm to
What?
Posted by Upperdecker
St. George, LA
Member since Nov 2014
30546 posts
Posted on 1/18/16 at 8:20 pm to
People that donate to Bernie's campaign should be taxed the way he wants it to be regardless of whether he wins or loses
Posted by Tigerpaw123
Louisiana
Member since Mar 2007
17252 posts
Posted on 1/18/16 at 8:23 pm to

“If you're not a liberal at twenty you have no heart, if you're not a conservative at forty you have no brains"

Winston Churchill
Posted by Porter Osborne Jr
Member since Sep 2012
39979 posts
Posted on 1/18/16 at 8:23 pm to
Is it really better. We have to pay a gift tax on anything over 10Gs.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
67025 posts
Posted on 1/18/16 at 8:27 pm to
quote:

What?


The purpose of the inheritance tax is to confiscate wealth from the ultra wealthy so that it can be redistributed to the masses. That is its only purpose. It is a tool of greed.
Posted by Bear Is Dead
Monroe
Member since Nov 2007
4696 posts
Posted on 1/18/16 at 8:32 pm to
And it accounts for less than 1% of the federal tax revenue. It's purely symbolic. Class warfare.
Posted by Nado Jenkins83
Land of the Free
Member since Nov 2012
59599 posts
Posted on 1/18/16 at 8:35 pm to
Government is the master and we are all slaves
Posted by yellowfin
Coastal Bar
Member since May 2006
97615 posts
Posted on 1/18/16 at 8:37 pm to
It sucks but won't affect anyone here
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