Originally posted by quackquackCan you quantify the relationship between "hard work" and accumulating wealth? I am more wealthy than most of the world population and haven't worked hard a day in my life.
Your sarcasm ignores the point. It took hard work to acquire and accumulate the wealth. Perhaps the government should quantify the hard work that it did to justify a piece of the inheritance.
Originally posted by KazetNagorraThis is a rights issue not a quantification issue. You right to keep your property might be your most valuable right. I certainly rather be able to keep my possession then have the right to express my opinion.
Can you quantify the relationship between "hard work" and accumulating wealth? I am more wealthy than most of the world population and haven't worked hard a day in my life.
Originally posted by quackquackYou're incoherently rambling; an estate tax is a tax on someone's income, not a confiscation of property.
This is a rights issue not a quantification issue. You right to keep your property might be your most valuable right. I certainly rather be able to keep my possession then have the right to express my opinion.
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Originally posted by KazetNagorraActually it is neither. According to the IRS:
You're incoherently rambling; an estate tax is a tax on someone's income, not a confiscation of property.
The Estate Tax is a tax on your right to transfer property at your death.
As of this year, only estates with a gross worth of $5,340,000 pay any tax at all. Claiming such a tax, which exempts something like 99% of all estates, is "confiscation" is absurd.
It would be nice if inheritances were treated as income in the year they were received and taxed at normal rates.
Originally posted by quackquackYou don't get to keep your property after you are dead. And being dead also has a serious negative effect on your ability to express your opinion.
This is a rights issue not a quantification issue. You right to keep your property might be your most valuable right. I certainly rather be able to keep my possession then have the right to express my opinion.
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Originally posted by quackquackYour estate after your death is a separate legal entity from you. It pays any taxes due, you (being dead) don't. Just ask wiki:
We completely disagree. To me it is certainly noteworthy that the government still insists on taxing you even after you are dead.
An estate (or decedent estate) is a legal entity created as a result of a person's death.
http://en.wikipedia.org/wiki/Estate_(law)
A number of things which you owned in life do not pass into your estate - your interest in a joint tenancy, life insurance policies, etc. etc. etc.
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Originally posted by no1marauderWhether the government taxes you or taxes a fictional entity, the original issue was are taxes completely avoided by death. The correct answer is no.
You don't get to keep your property after you are dead. And being dead also has a serious negative effect on your ability to express your opinion.
I believe this is a significant issue as the government through tax legislation continually interferes with ones most valuable right to keep what is yours.
I'm done commenting here as I believe people wished to discuss legalization of drug and this seems off topic.
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Originally posted by quackquackIt's not your property after you are dead.
The government shouldn't just take your property. The government through tax legislation continually interferes with your most valuable right to keep what is yours.
A government needs revenue to function. It would be extremely difficult for anyone to amass property without a government and impossible for anyone to amass $5 million worth of it without government. You have no "right" to not pay what your fellow citizens have determined to be a fair share of society's taxes so long as the taxes aren't invidiously discriminatory or at such high levels they are confiscatory (i.e. leave you with not enough to survive).
Originally posted by no1marauderThe government if it wishes to have more revenue should broaden the tax base so all feel the pinch. Your wish that they continually take from the same group which already contributes the most is offensive.
It's not your property after you are dead.
A government needs revenue to function. It would be extremely difficult for anyone to amass property without a government and impossible for anyone to amass $5 million worth of it without government. You have no "right" to not pay what your fellow citizens have determined to be a fair share of s ...[text shortened]... natory or at such high levels they are confiscatory (i.e. leave you with not enough to survive).
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Originally posted by quackquackThat's up to the People to decide. The tax burden on the wealthy in this country is hardly onerous. Taxing people who can barely survive as it is would violate the "confiscatory" prong I just mentioned.
The government if it wishes to have more revenue should broaden the tax base so all feel the pinch. Your wish that they continually take from the same group which already contributes the most is offensive.
Originally posted by quackquackAfter you are dead, you are a "fictional entity".
Whether the government taxes you or taxes a fictional entity, the original issue was are taxes completely avoided by death. The correct answer is no.
I believe this is a significant issue as the government through tax legislation continually interferes with ones most valuable right to keep what is yours.
I'm done commenting here as I believe people wished to discuss legalization of drug and this seems off topic.
An estate is hardly "fictional".
The correct answer is "yes". KN said "If you kill yourself, you don't have to pay taxes". That is true.