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

[Lochton]

I wouldn't support it. Your wealth should be distrubuted fairly after your passing between the debt collectors, family and bills.

So, if you die and leave behind 1.000.000 dollars.
You have unpaid bills of: 10.000 dollars.
You have debt of: 90.000 dollars (Here under is also unpaid tax.)
You have a funeral bill of 5.000 dollars.

This would leave you with 895.000 dollars which then should be distrubuted to management of home, incase of sales of house. As well as fees for cleaning up etc. Then the kids should be able to get the rest.

[primalmatter]

Why not just dig up the body and pry rings off the fingers of corpses ?

I swaer I will never understand communist. They support nearly any depravity so long as it is the government not then who gets its hands dirty.

[Deleted]

So this woman worked all of her life and was going to pass on an Estate worth 5.49 million dollars?

There isn't a person in this thread that would ever be subjected to the Estate Tax in it's current state.

There are a lot of possible things that won't apply to people in this thread, that doesn't make them right. Assuming a minority of any kind making laws that apply only to that minority doesn't make them right because they only apply to a few people.

[RaoBurning]

I'm all for more rigid steps to prevent the landed gentry from becoming even more, well, landed. Oligarchies are bad, mmkay?

[Akka]

Why not just dig up the body and pry rings off the fingers of corpses ?

I swaer I will never understand communist. They support nearly any depravity so long as it is the government not then who gets its hands dirty.

Yeah, taxes are evil and stealing and COMMUNIST !

The State should run on magic instead of money, so a few oligarch can concentrate more power and money in their hand, because US drones worship "winners" (read : those who could leverage the system to get the most money out of it) and see any attempt at making society less feudal as an attack on their religious icons.

[Symphonic]

Redistribute the wealth and let it fall into more able hands.

Yeah, I don't see this as falling into more able hands. Unless they're my hands, of course.

[Zuben]

It's tax for something that's already been taxed, so no.

[llubtoille]

The issue with 'death tax' is that it applies to all wealth, not just liquid assets.
What that means is, the inheritors end up paying money (and often incurring debt) to keep the family home and heirlooms.
Then there's the whole issue of 'valuations'. Hope you're on the valuer's good side or they might decide your property is 'worth' far more than it actually is. Or on the other hand, bribe to make the valuation lower.

[Akka]

It's tax for something that's already been taxed, so no.

You realize this is false and has been pointed COUNTLESS times already ?

No obviously you don't.

[ezgeze]

You realize this is false and has been pointed COUNTLESS times already ?

No obviously you don't.

totally correct sir.
That property totally wasn't purchased with real life $$ previously taxed under income taxes, sales taxes and later taxed again yearly under a property tax. Nope.

- - - Updated - - -

To OP:
I find it frustrating that the radical left hasn't figured out what Warren Buffet has been doing all these years. He claims he is all for these lefty ideas of paying a fair share, equal pay for equal work, estate taxes etc and its all bullshit. He simply is vomiting up red meat for radicals to immunize himself in the eyes of the left.

Oh Warren Buffet made billions in the government bailout of his companies?
Oh his companies pay women less than men?
Pays less taxes rate than his secretary?
Oh its Warren Buffet, its ok because he really is against these things............yet he still does it. Gets total pass from the left.

[Independent voter]

totally correct sir.
That property totally wasn't purchased with real life $$ previously taxed under income taxes, sales taxes and later taxed again yearly under a property tax. Nope.

- - - Updated - - -

I find it frustrating that the radical left hasn't figured out what Warren Buffet has been doing all these years. He claims he is all for these lefty ideas of paying a fair share, equal pay for equal work, estate taxes etc and its all bullshit. He simply is vomiting up red meat for radicals to immunize himself in the eyes of the left.

Oh Warren Buffet made billions in the government bailout of his companies?
Oh his companies pay women less than men?
Pays less taxes rate than his secretary?
Oh its Warren Buffet, its ok because he really is against these things............yet he still does it. Gets total pass from the left.

He's given all his money away to charity, but it doesn't kick in until he dies I think.

[ezgeze]

He's given all his money away to charity, but it doesn't kick in until he dies I think.

how convenient that his kids don't need the money, are already themselves pretty established and older

warren buffett still does every other thing I listed before, has the ability to change them but doesn't

and congratulations for finding the most extreme exampled person that in no way could ever represent anyone else in the world but maybe a handful of others. Yeah, not in any way should you take what WB does with his money and attempt to apply that to an average person.

[Alydael]

again its not you paying the tax its the person you leave the money to. just like i have to pay taxes on the money my boss pays me even tho he payed taxes on it when he made it as well. estate tax is just a specialized form of income tax

Although a person pays a tax, the tax is actually on the money (or profits). That money has already been taxed when it was originally made. The government already has their blood money.

They don't need to double dip.

[Wildtree]

Capital gains tax is a legit thing, and justified.

For all that matters is, that it has to be an exponential increase. The more wealth, the higher the tax.

Interesting tidbit.. For the USA that exponential curve does exist. Only the super rich are hit by the "death tax"..
And the dumbasses with a lot less income, who would never have to pay a cent, they are the ones opposing it the loudest.

- - - Updated - - -

Oh its Warren Buffet, its ok because he really is against these things............yet he still does it. Gets total pass from the left.

Talking out of your ass?

Would you provide us with a comprehensive list of all the stuff you mentioned?
But please, credible, ideally official govt, or watchdog sources.

[Alydael]

The fact that during your whole life, you benefited from them.
Or do you think that healthcare, law enforcement, justice system, labor laws, the ability to walk with the guarantee to be protected, the infrastructure that allowed these millionaire to get electricity and water for their factories and roads and rails to carry their goods, airlines where planes don't crash into each others and so on, just sprout magically out of the ground ?

- - - Updated - - -


And these several guys have just said bullshit and were corrected about it. Now selective reading is a pretty strong force, I know, but it doesn't change reality.

So basically you recognize that this "working harder to becomes richer" is BS.
And please, Reagan on economics ? The guy who is mocked for his voodoo economics ? As a reference ? Please ?

That makes no sense. I get the feeling you have no idea how taxes work.

That's just such a pileup of clichés, it sounds comical.

Yes and my whole life I paid for that benefit when:

1) They taxed my income

2) they taxed all the goods I bought

3) They taxed the house I bought and charged me property taxes every year.

4) The various fees (dmv, licenses, etc)

5) All the taxes on your : phone, electric bill, cable bill, etc.....

6) The taxes on all the investments you made

7) The taxes on any winnings you collected


Yeah, they already got more than enough. They don't need to tax the same money they already taxed.

Maybe they shouldn't spend trillions on pointless wars and millions on limos and private jets etc. Then they would have more money to spend like they want.

[Wildtree]

how convenient that his kids don't need the money, are already themselves pretty established and older

Buffet is notoriously known for NOT sponsoring his kids.
He rose them and expected them to pull their own weight and be self sufficient.

[ezgeze]

Buffet is notoriously known for NOT sponsoring his kids.
He rose them and expected them to pull their own weight and be self sufficient.

Ok again, you have a cherry picked mega billionare that in no way should be attempted to be representative toward anyone else in the world but maybe a handful of other people.
oh and nope, no way is the Buffett last name ever used in his childrens lives to gain access to any opportunity, school, loan, job, interview, advertising, etc that the average joe has access to. NOPE. It was all his children. Every 120% of it.

[Floopa]

it should be 98%.

[Wildtree]

Ok again, you have a cherry picked mega billionare that in no way should be attempted to be representative toward anyone else in the world but maybe a handful of other people.
oh and nope, no way is the Buffett last name ever used in his childrens lives to gain access to any opportunity, school, loan, job, interview, advertising, etc that the average joe has access to. NOPE. It was all his children. Every 120% of it.

At this point you're just making shit up.
I am pretty sure that the Buffet children using their name in connection to their own reputation they've gained in their lives.
I happen to be neighbor with Warren, I know the man is humble. His daughter is famous here in the city not for the fathers name, but for her incredible work she does by investing and improving projects through her charity organization. One son has a name as a musician and composer. And the other one is a business person and former politician in his own rights.
On that note, what exactly have you accomplished so far in your life?
Because, you know, criticizing others, if you aren't even close to their wheelhouse, gives you no leg to stand on.

[arel00]

Absofuckinglutely no. This isn't just about people leaving millions to children so they can avoid working, it's also about normal working people leaving their children with a house, or saving for emergencies, so they can afford something without getting a 10, 20, or 30 years loan.