Originally posted by AThousandYounghttp://en.wikiquote.org/wiki/Star_Wars_Episode_V:_The_Empire_Strikes_Back
Gonna pull a zeeblebot, sorry folks:
...
[Vader has just cut off Luke's right hand, which has his lightsaber]
Darth Vader: There is no escape! Don't make me destroy you. Luke, you do not yet realize your importance. You've only begun to discover your power! Join me, and I will complete your training! With our combined strength, we can end this destructive conflict, and bring order to the galaxy.
Luke Skywalker: [angrily] I'll never join you!
Darth Vader: If only you knew the power of the Dark Side. Obi-Wan never told you what happened to your father.
Luke Skywalker: He told me enough! He told me you killed him!
Darth Vader: No, I am your father.
Luke Skywalker: [shocked] No. No! That's not true! That's impossible!
Darth Vader: Search your feelings, you know it to be true!
Luke Skywalker: NOOOOOOO! NOOOOOOOO!!!
Darth Vader: Luke, you can destroy the Emperor. He has foreseen this. It is your destiny! Join me, and together, we can rule the galaxy as father and son! Come with me. It is the only way.
[Luke lets go of the projection and falls into the shaft]
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Originally posted by AThousandYoung[/i]has Jim Grote donned sackcloth and ashes and turned his fortune over to the poor?
Gonna pull a zeeblebot, sorry folks:
[i]Shortly after he took office the second President Bush said, “To keep farms in the family we are going to get rid of the death tax” (Johnston, 2003, p. 73). Ironically the estate tax has no effect on family farms. Gates and Collins found that a highly organized public relations campaign and lobbying effort cr ...[text shortened]... of Estate and Tax Planning
September 2007
http://www.estatesettlement.com/unlimitedweath.pdf
Originally posted by KazetNagorra(that is not 100% - I never said it should be taxed at 100% ),
Well, you need to be able to think in a little more abstract sense. If you tax inheritance more, that means you can tax other things less. I think the economy benefits most if inheritance is taxed as highly as possible (that is not 100% - I never said it should be taxed at 100% ), which creates room to reduce other taxes. If inheritance tax is lower, th ...[text shortened]... s a constant). It's a matter of priorities - which type of tax do you have least problems with?
http://www.redhotpawn.com/board/showthread.php?threadid=128888&page=1
Originally posted by KazetNagorra
"Ideally, it should be taxed at 100%. Pragmatically, it should be taxed at the highest rate possible without causing massive tax evasion. Inheritance is a great enemy of social mobility and social justice."
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Originally posted by KazetNagorraIf you tax inheritance more, that means you can tax other things less. I think the economy benefits most if inheritance is taxed as highly as possible
Well, you need to be able to think in a little more abstract sense. If you tax inheritance more, that means you can tax other things less. I think the economy benefits most if inheritance is taxed as highly as possible (that is not 100% - I never said it should be taxed at 100% ), which creates room to reduce other taxes. If inheritance tax is lower, th ...[text shortened]... s a constant). It's a matter of priorities - which type of tax do you have least problems with?
Yes, you're correct, however, Im not willing to tax inheritance more simply because it seems convenient to do so, the result of taxing inheritance "as highly as possible" would be to disencourage people to work hard and do the best they can do, since they'd know most of it would end up with the govt rather than their family. This should be avoided.
If inheritance tax is lower, then it logically follows that taxes for the average Joe and/or corporations must be higher (assuming the total amount of tax is a constant).
you wouldn't need an extraordinary amount of tax money if the government's spending was less wasteful and limited to the essentials.
It's a matter of priorities - which type of tax do you have least problems with?
sales tax.
Originally posted by generalissimoWell, here I say that it should be taxed at the highest rate possible that does not cause massive evasion, which is always lower than 100%.
[b] (that is not 100% - I never said it should be taxed at 100% ),
http://www.redhotpawn.com/board/showthread.php?threadid=128888&page=1
Originally posted by KazetNagorra
"Ideally, it should be taxed at 100%. Pragmatically, it should be taxed at the highest rate possible without causing massive tax evasion. Inheritance is a great enemy of social mobility and social justice."[/b]
Originally posted by generalissimoBut does inheritance tax "discourage working" more than say income tax, sales tax or corporate tax? I think that of all these taxes, inheritance tax has the least influence on the decisions people make in life since most people don't like to think about what happens when they die.
[b]If you tax inheritance more, that means you can tax other things less. I think the economy benefits most if inheritance is taxed as highly as possible
Yes, you're correct, however, Im not willing to tax inheritance more simply because it seems convenient to do so, the result of taxing inheritance "as highly as possible" would be to disencour ...[text shortened]... tter of priorities - which type of tax do you have least problems with?[/b]
sales tax.[/b]
you wouldn't need an extraordinary amount of tax money if the government's spending was less wasteful and limited to the essentials.
Yes, but inheritance tax is a fairly small part of total tax revenue, so even if government is very small you could have a high inheritance tax to keep the other taxes even lower.
[I prefer] sales tax
Why do you prefer sales tax?
Originally posted by KazetNagorraYou say that in practice that should be the case, but that "ideally" it should be 100%. How you went from this to "I never said it should be 100%" is a mystery to me.
Well, here I say that it should be taxed at the highest rate possible that does not cause massive evasion, which is always lower than 100%.
Originally posted by generalissimoWell, the "ideal" is unattainable. Ideally, the solution to the Israel/Palestine conflict is for everyone to stop fighting and just get along, but that's hardly a solution that will work in practise.
You say that in practice that should be the case, but that "ideally" it should be 100%. How you went from this to "I never said it should be 100%" is a mystery to me.
Originally posted by KazetNagorraBut does inheritance tax "discourage working" more than say income tax, sales tax or corporate tax?
But does inheritance tax "discourage working" more than say income tax, sales tax or corporate tax? I think that of all these taxes, inheritance tax has the least influence on the decisions people make in life since most people don't like to think about what happens when they die.
[b]you wouldn't need an extraordinary amount of tax money if the gover ...[text shortened]... the other taxes even lower.
[b][I prefer] sales tax
Why do you prefer sales tax?[/b]
It depends on the tax rate, if we were to follow what you proposed (that it should be taxed as much as possible), the logical conclusion is that it would disencourage individuals to be successful. The same applies to other types of tax.
I think that of all these taxes, inheritance tax has the least influence on the decisions people make in life since most people don't like to think about what happens when they die
Well, Im not sure that is correct (your claim that people are not worried about what happens after they die), if that were the case people wouldn't bother discussing this issue in the first place.
Yes, but inheritance tax is a fairly small part of total tax revenue, so even if government is very small you could have a high inheritance tax to keep the other taxes even lower
You have to have a balance, surely you don't want people to pay low taxes their whole life only so that when they die they have all their money taken away.
I get your point, but Im sure there are better ways to collect the tax money necessary for the govt. without having to choose who to tax more. Perhaps we should be looking at how to tax rather than who to tax.
Why do you prefer sales tax?
that was off the top of my head, perhaps I should have chosen a better example.
Originally posted by generalissimoThe same applies to other types of tax.
[b]But does inheritance tax "discourage working" more than say income tax, sales tax or corporate tax?
It depends on the tax rate, if we were to follow what you proposed (that it should be taxed as much as possible), the logical conclusion is that it would disencourage individuals to be successful. The same applies to other types of tax.
I ...[text shortened]... tax?
that was off the top of my head, perhaps I should have chosen a better example.[/b]
Does it apply to all taxes equally?
...if that were the case people wouldn't bother discussing this issue in the first place.
People care more about the here and now than about the future. Fact of life.
Perhaps we should be looking at how to tax rather than who to tax.
What do you suggest?
Originally posted by AThousandYoungIt's really none of Warren Buffet's (or anyone's) business what someone else wants to do with their own estate. I'm pretty certain that I'm not in his will.
Both.
EDIT -
As Warren Buffett famously said, "You should leave your children enough money so that they can do anything, but not so much that they can do nothing."
With all the deaths in the Kennedy family, I've never received anything from any of them. Seems like they prefer to keep their money in the family, and to avoid paying any taxes at all .. their family fortune earns their income pretty much tax free.
Originally posted by TheBloopYes, it his business, and mine too. This is a democracy. You're welcome to buy yourself a big ship and live alone without taxes in the Pacific somewhere.
It's really none of Warren Buffet's (or anyone's) business what someone else wants to do with their own estate. I'm pretty certain that I'm not in his will.
With all the deaths in the Kennedy family, I've never received anything from any of them. Seems like they prefer to keep their money in the family, and to avoid paying any taxes at all .. their family fortune earns their income pretty much tax free.
Originally posted by KazetNagorraDoes it apply to all taxes equally?
[b]The same applies to other types of tax.
Does it apply to all taxes equally?
...if that were the case people wouldn't bother discussing this issue in the first place.
People care more about the here and now than about the future. Fact of life.
Perhaps we should be looking at how to tax rather than who to tax.
What do you suggest?[/b]
I believe so. Do you have any examples where it doesn't?
People care more about the here and now than about the future. Fact of life.
This is based on what? has there been any study confirming that people care more about here and now?
What do you suggest?
progressive taxation for example.
Originally posted by TheBloopcould the Kennedys and the Clintons ever really understand each other?
It's really none of Warren Buffet's (or anyone's) business what someone else wants to do with their own estate. I'm pretty certain that I'm not in his will.
With all the deaths in the Kennedy family, I've never received anything from any of them. Seems like they prefer to keep their money in the family, and to avoid paying any taxes at all .. their family fortune earns their income pretty much tax free.