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Repeal of estate tax

dc0404
Posts: 287
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10/14/2017 3:29:57 AM
Posted: 1 month ago
What is your view on the proposed repeal of the estate tax?

Does it only help the rich, or is it only hurting the rich in its current state?

Is the government giving the rich a break by repealing it... is it the governments money to give, or did they take it to begin with?

What about the fact that in 2001 the estate tax kicked in well below $1 million?

Why are those whose estates are well below $11 million (married) complaining about the repeal of the estate tax when they are completely exempt?

DC
TheMarketLibertarian
Posts: 366
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10/16/2017 8:37:41 PM
Posted: 1 month ago
At 10/14/2017 3:29:57 AM, dc0404 wrote:
What is your view on the proposed repeal of the estate tax?

Does it only help the rich, or is it only hurting the rich in its current state?

Is the government giving the rich a break by repealing it... is it the governments money to give, or did they take it to begin with?

What about the fact that in 2001 the estate tax kicked in well below $1 million?

Why are those whose estates are well below $11 million (married) complaining about the repeal of the estate tax when they are completely exempt?

DC

The estate tax should never have came into existence and is blatant tyranny- obviously that which encroaches on property rights will harm those who have more property more, but that doesn't mean it isn't tyranny to everyone else as well.
HairlessApe
Posts: 230
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10/16/2017 9:49:44 PM
Posted: 1 month ago
American society requires the collection of taxes to support the functioning of government and the socialism which our liberal society enjoys. You do like having someone else build the infrastructure that you use to create your wealth, right? You do like the services that taxes provide, like police, fire depts, military, employment insurance, parks, clean air and water, etc. Right?
Whether or not the government is misusing some of those funds is irrelevant to the necessity of taxes in a modern society. Are there any progressive societies that do not tax it's citizens?
History shows us the detrimental effect of extraordinary wealth accumulated in the hands of a few citizens. Currently the Estate Tax affects .02% of Americans. The amount that this .02% actually pays is reduced by various tax exemptions and loopholes.
I should point out here, the conservative mantras associated with "rugged individualism" - of making your own way - pulling yourself up by your boot straps - not living off of handouts... you know, self reliance type stuff.

My personal view is that, to those people who benefited the most from the society that provided the infrastructure and resources which allowed them to be so successful, after their death, some portion of that should be given back to the government so that others can also achieve success.

Here's some more info https://www.cbpp.org...
One could surely argue that the Buddhist tradition, taken as a whole, represents the richest source of contemplative wisdom that any civilization has produced. -Sam Harris
John_C_1812
Posts: 793
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10/18/2017 3:25:50 AM
Posted: 1 month ago
The problem I find is Estate tax is not on strictly money. It is on value conceived by a state of value created in an economy with money. If possessing is nine tenths of the law isn't the burden of taxation of state and federal level to provide Cite to serial numbers of alleged money values assigned as market values?

Otherwise state and federal assessors may be directed to conspire to inflate value without a regulation taking hold in general law.