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

[Akka]

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.

Yep, and it wasn't taxed anymore.
After the death of the guy, the property is then transferred to ANOTHER person, and OH SURPRISE, it is THEN taxed, just like and for the same reason it was taxed during the purchase you describe.

Which was already, as said in the message you quote, pointed out and explained. But you just stayed in your crass ignorance instead of actually checking what was said. What a surprise.

[Wildtree]

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.

You already pay it, should you inherit...

https://taxfoundation.org/estate-and...-around-world/

[Akka]

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.

Well, just move to Somalia then, you won't be taxed. Enjoy your stateless dream.

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.

I think it was explained something between one thousand to one million times already that such taxe only happen when the total assets are well inside "wealthy" territory.

[arel00]

You already pay it, should you inherit...

https://taxfoundation.org/estate-and...-around-world/

I live in a country where the "death tax" is 4% - by your own link. This much I can agree on, it doesn't really clip the value of the inheritance, but 40+%? No thanks.

[primalmatter]

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.

75%, 75% god damn percent.

That is outrageous you can't defend that kind of BS.

[Wildtree]

I live in a country where the "death tax" is 4% - by your own link. This much I can agree on, it doesn't really clip the value of the inheritance, but 40+%? No thanks.

Keep in mind, the graphic does not reflect the cut offs.
For example, the vast majority of the US population does not, nor ever has it paid a cent of such tax.
Why? Because it starts at beyond $5.4 million inheritance or gift amount.
Anything up to said 5.4 million receives tax exempt.

So, for you Americans.. if you hear your politicians ramble about the inheritance tax, about the death tax, think again.
They want to abolish it for their own sake, not for yours. Because, I doubt you'll ever inherit 5.4 million bucks worth of goods. And if you do, split it among you and your spouse.. The 5.4m is per person.

[ezgeze]

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.

Right.
As for myself I am set to retire by 47 with at least 4.7M.
I am a 2x combat vet, decorated. I hold 3 college degrees and make over 120K per year.
My parents were drug users that gave 0 shits about anything other than getting their next fix and if it wasn't for me paying their rent since age 8, they would have probably been homeless on the streets. It took me many years, but they are now clean, own their own home and had decent jobs until my mom was diagnosed with MS and could no longer work. I now completely pay for her living expenses.

and yes, buffets kids might be great successful people but they certainly had plenty of help along the way regardless of what you might claim.

As for this thread, I would most likely be hit with a death tax when I die and have willed everything to my 2 nieces. I refuse to believe that somehow some grabby hand fucker has more right to my life work than my own family.

[arel00]

Keep in mind, the graphic does not reflect the cut offs.
For example, the vast majority of the US population does not, nor ever has it paid a cent of such tax.
Why? Because it starts at beyond $5.4 million inheritance or gift amount.
Anything up to said 5.4 million receives tax exempt.

So, for you Americans.. if you hear your politicians ramble about the inheritance tax, about the death tax, think again.
They want to abolish it for their own sake, not for yours. Because, I doubt you'll ever inherit 5.4 million bucks worth of goods. And if you do, split it among you and your spouse.. The 5.4m is per person.

I stand corrected. If it's over 5 millions it's less of a problem, still, 75%? That's a lot.
A note: I am normally very pro-taxes, with voting EU left and such, however the inheritance taxes are quite the delicate subject imho. I've seen accidents happen and the only thing that saved people like my own dad when he lost his job was what my grandad left for him. I'd have been on the streets at 3yo if it weren't for that.

[Wildtree]

and yes, buffets kids might be great successful people but they certainly had plenty of help along the way regardless of what you might claim.

You make the claim. You prove it.. Otherwise you just talk out of your ass, as noted.

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I stand corrected. If it's over 5 millions it's less of a problem, still, 75%? That's a lot.
A note: I am normally very pro-taxes, with voting EU left and such, however the inheritance taxes are quite the delicate subject imho. I've seen accidents happen and the only thing that saved people like my own dad when he lost his job was what my grandad left for him. I'd have been on the streets at 3yo if it weren't for that.

Here's a link, I forgot to add that in the last post

https://www.forbes.com/sites/ashleae.../#59342b7b6532

It’s official—for 2016, the estate and gift tax exemption is $5.45 million per individual, up from $5.43 million in 2015. That means an individual can leave $5.45 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield $10.9 million from federal estate and gift taxes.

[ezgeze]

You make the claim. You prove it.. Otherwise you just talk out of your ass, as noted.

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Here's a link, I forgot to add that in the last post

https://www.forbes.com/sites/ashleae.../#59342b7b6532

If you think the Buffett name doesn't open doors for his family that would normally be closed to an average person you must be retarded.

[Akka]

75%, 75% god damn percent.

That is outrageous you can't defend that kind of BS.

The estate tax doesn't kick in before 5 millions $. That's more than what most people will make during their entire life.
Then there is several brackets. 75 % might only be reached for several tens of millions dollars.
No, when you're getting already enough to be set for life, getting taxed on what you'll get on top of this "be set for life" isn't outrageous. Drop the worship of your overlord and try to use some common sense.

[Zuben]

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

No obviously you don't.

Didn't care to read through it all, I assumed it's the same as Finland's "inheritance tax", which I'm well acquainted with. If it's not, then apologies for misunderstanding.

[Zogarth]

I think there should be a semi-high "death" tax, but only above a certain line. Below that line there should be none. So the average guy would pay nothing/close to nothing in death tax, while the rich would pay more. This would help the current hoarding economy where rich get richer, by having a substantial amount of their wealth return to the economy again, instead of just being hoarded.

I know it is a bit like that in many places, but not everywhere,

[Grauk]

I think there should be a semi-high "death" tax, but only above a certain line. Below that line there should be none. So the average guy would pay nothing/close to nothing in death tax, while the rich would pay more. This would help the current hoarding economy where rich get richer, by having a substantial amount of their wealth return to the economy again, instead of just being hoarded.

I know it is a bit like that in many places, but not everywhere,

Thatt is already how it works in the US. Despite the majority of people in this thread having no idea how taxes work, the estate tax is extremely progressive and effects very few people, while benefitting everyone

[primalmatter]

The estate tax doesn't kick in before 5 millions $. That's more than what most people will make during their entire life.
Then there is several brackets. 75 % might only be reached for several tens of millions dollars.
No, when you're getting already enough to be set for life, getting taxed on what you'll get on top of this "be set for life" isn't outrageous. Drop the worship of your overlord and try to use some common sense.

You just kind of seem envious of the rich...

If you have unreasonable taxation you simply drive out the most successful people to other countries that are not as self destructive.

[Grapemask]

You just kind of seem envious of the rich...

If you have unreasonable taxation you simply drive out the most successful people to other countries that are not as self destructive.

Except the idea of "unreasonable taxation" in the US is still far below the taxation of most other countries, with the exception of places that themselves are worldwide targets for fixing their tax-dodging shenanigans (ie Luxembourg). Corporations/the wealthy are simply being terroristic by threatening to leave if they have to pay more than a dime. Most of them won't. They have the money to burn pushing and lobbying for it to stay easy, though.

Companies looking to make their bottom line more profitable has been a thing since the first cave man realized he could get things in return from other cave men for his... rocks, or whatever cave men traded in. He went to where he got the most things for the least hassle. All that's really changed is that technology has made it easy to move from one side of the globe to the other.

Advocating for less taxation because simply because it'll "drive people away" is a slippery slope to poor working conditions. Companies allowed to do less for more will do as little as they can. That's the truth of capitalism. Instead of acquiescence corporate terrorism, they need to be kept financially in line and coerced to deal with it through other friendly (likely social) policies.

[Akka]

You just kind of seem envious of the rich...

You just kind of seem their lapdog.

If you have unreasonable taxation you simply drive out the most successful people to other countries that are not as self destructive.

And that's how you end up with third-world level of inequality and a race to the bottom to attract those who have far more money than they would ever need, and pressure those who actually need it to increase the benefit of the others.
Great idea !

[primalmatter]

Except the idea of "unreasonable taxation" in the US is still far below the taxation of most other countries, with the exception of places that themselves are worldwide targets for fixing their tax-dodging shenanigans (ie Luxembourg). Corporations/the wealthy are simply being terroristic by threatening to leave if they have to pay more than a dime. Most of them won't. They have the money to burn pushing and lobbying for it to stay easy, though.

Companies looking to make their bottom line more profitable has been a thing since the first cave man realized he could get things in return from other cave men for his... rocks, or whatever cave men traded in. He went to where he got the most things for the least hassle. All that's really changed is that technology has made it easy to move from one side of the globe to the other.

Advocating for less taxation because simply because it'll "drive people away" is a slippery slope to poor working conditions. Companies allowed to do less for more will do as little as they can. That's the truth of capitalism. Instead of acquiescence corporate terrorism, they need to be kept financially in line and coerced to deal with it through other friendly (likely social) policies.

I would like to see the country that has a 75% tax that isn't one where the government hasn't seized virtually all private property.

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You just kind of seem their lapdog.

And that's how you end up with third-world level of inequality and a race to the bottom to attract those who have far more money than they would ever need, and pressure those who actually need it to increase the benefit of the others.
Great idea !

Yes because communist countries are know for their success and happiness right?

The world isn't fair but your moronic economic theories have been tried and millions starved to death as a result. I am tired of watching fools thinking that this time communism won't end like all the other times.

Hell you can look into Venezuela to see the effects of people like you in real time.

[Akka]

IYes because communist countries are know for their success and happiness right?

The world isn't fair but your moronic economic theories have been tried and millions starved to death as a result. I am tired of watching fools thinking that this time communism won't end like all the other times.

Hell you can look into Venezuela to see the effects of people like you in real time.

You're just like your own caricature :

Yeah, taxes are evil and stealing and COMMUNIST !

And socialist countries (like Western and Northern Europe) are in fact pretty renowed for their success and happiness. Just so you know.

[zenkai]

I would support it if...

I was a GD communist.