Would you support an estate(death) tax of 75%?

[Independent voter]

When you die your estate has to pay an estate or "death" tax. Republicans coined the term "death" tax and they've been working hard to reduce it. For example, only 2 out of a thousand estates have to pay any estate tax now.

https://www.cbpp.org/research/federa...ral-estate-tax

It's an ideal tax because the person you're taxing is dead and won't care.

Why pass on all that wealth to children who might not be as capable? Redistribute the wealth and let it fall into more able hands.

We can use all that money to ease the tax burden on the poor or for whatever.

Warren Buffet is for this idea.

[Rend Blackhand]

You earn money, you pay tax on it, you save it, you die, the money is taxed a second time?

No double taxation please.

[melodramocracy]

I personally think estate taxes are a bad idea.

[Deleted]

Absolutely not. Everyone should have the right to give their wealth to their children without the state taking away such an immense part of it.
It doesn't matter if the children are subjectively "capable" or not. Double taxation like the death tax should be kept to a minimum - or better, not exist to begin with.

[A dot Ham]

Warren Buffet is for this idea.

Warren Buffett also only paid ~16% in taxes on his 11.6 MILLION dollar income in 2015.

Kind of hard to see your views on tax law as altruistic when you aren't even playing the same game.

[cuafpr]

fuck no.. the death tax needs to die. Its shame its taxed at all, it should freely go to the person the deceased left it to, and it should not hurt them via taxes in any way shape or form. I don't care if its 5 dollars or 5 billion dollars, no death tax ever.

[bledgor]

You earn money, you pay tax on it, you save it, you die, the money is taxed a second time?

No double taxation please.

This most importantly, but also no, they worked for that money, they earned it, and what they want to do with it is up to them, if they want to give it to their kids that is their right, as it was their money.

Also this will do VERY little as any person with money that knows they are dying will just give everything to their family/significant other/beneficiary instead of waiting for it to be willed bypassing the law. It would only be useful in cases of sudden death.

[GhostPanini]

This would be a big no, as other people stated the estate tax is double dipping in the money people earn. They paid their taxes, no need to screw them after they die. It is their money they should decide where it goes when they kick the bucket.

[HAcoreRD]

they need to abolish this tax. nothing like getting taxed my whole life and after you die they f*ck you (and your loved ones) one more time

[Aeula]

I'm against death tax altogether. Parents work their asses off to make sure their kids can live comfortably, not so it can go to some random cripple or someone on welfare.

[Gamdwelf]

Heads up, rich people can give to their children 13k each year before they die so that they don't have to pay death taxes.

[Heladys]

Bring it on. /10char

[anveena]

No thanks. People should be able to give away whatever wealth they have accumulated during their lifetime to whomever they want without the state taking most of it.

[A dot Ham]

Heads up, rich people can give to their children 13k each year before they die so that they don't have to pay death taxes.

Its 14k actually, and if the person is married they can give 14k to each person for the "family" totaling 28k, works for grand kids too.

[Allybeboba]

You earn money, you pay tax on it, you save it, you die, the money is taxed a second time?

No double taxation please.

We are already double taxed. You pay taxes when you make money(income) and you pay taxes when you buy something.


If people think all of this money will go to the "poor" they are off their rocker. Unless the "poor" are working for the government. Anytime the government has a hand in something a large portion of it will be wasted.

[Renault]

This is a thing in Denmark.
If your parent die, you need to pay 15% of what they leave you in cash (minus some fixed amount), don't know about proberty. If an uncle dies and he got no close family, the tax is at 25%.

[Barnabas]

When you die your estate has to pay an estate or "death" tax. Republicans coined the term "death" tax and they've been working hard to reduce it. For example, only 2 out of a thousand estates have to pay any estate tax now.

https://www.cbpp.org/research/federa...ral-estate-tax

It's an ideal tax because the person you're taxing is dead and won't care.

Why pass on all that wealth to children who might not be as capable? Redistribute the wealth and let it fall into more able hands.

We can use all that money to ease the tax burden on the poor or for whatever.

Warren Buffet is for this idea.

Who cares if he doesn't want his children to get his money. He just sounds like a greedy old man.

[shrunken]

Warren Buffett also only paid ~16% in taxes on his 11.6 MILLION dollar income in 2015.

Kind of hard to see your views on tax law as altruistic when you aren't even playing the same game.

he would then go on to donate $3 billion dollars (roughly 99% of his total wealth) to charity.

[Citizen T]

Heads up, rich people can give to their children 13k each year before they die so that they don't have to pay death taxes.

It's actually up to 14K as of last year and they can give this to anyone - not just their children. The whole point of this tax was to prevent the avoidance of the death (estate) tax.

[Gamdwelf]

Its 14k actually, and if the person is married they can give 14k to each person for the "family" totaling 28k, works for grand kids too.

Looks like they moved the gift exception up in 2016