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  • #1

    What do you think of this statement?

    This is in regards to a Tax on Wealthy Estates etc..

    Quote:
    "In America, it's not a sin to be rich nor is it a crime to die rich," said Rep. Jared Polis, D-Colo. "This bill gives our nation's wealthiest families the ability to know exactly what their obligation to the nation that fostered their wealth will be, and it is fair and it is just."


    Does anyone else find this comment scary?



    Link to Article:
    http://www.breitbart.com/article.php...show_article=1
    Last edited by dabrockster; 12-03-2009, 01:15 PM.
    Tags: None
  • #2
    wow. I wonder what the Kennedy's think about that. It is however, nothing new, personal property is "subject to the general right of the community to regulate its use to whatever degree the public welfare may require it." Teddy Roosevelt.

    I love watching Orrin Boyle and James Taggert running the government.

    Comment

    • #3
      Originally posted by dabrockster View Post
      This is in regards to a Tax on Wealthy Estates etc..

      Quote:
      "In America, it's not a sin to be rich nor is it a crime to die rich," said Rep. Jared Polis, D-Colo. "This bill gives our nation's wealthiest families the ability to know exactly what their obligation to the nation that fostered their wealth will be, and it is fair and it is just."


      Does anyone else find this comment scary?



      Link to Article:
      http://www.breitbart.com/article.php...show_article=1

      Wealthy people have enough money to hire people to help them set up trusts and other financial vehicles to ensure the government doesn't touch their wealth after they die.
      "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

      Comment

      • #4
        As for a personal philosophy, I have no issues with an inheritance tax or a tax on estates.
        "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

        Comment

        • #5
          Originally posted by Eddie Jones View Post
          As for a personal philosophy, I have no issues with an inheritance tax or a tax on estates.
          The problem is that it will decimate many small businesses & family farms upon the death of the principal owner. Coming up with 45% of the value of a small business will usually mean the business goes under.

          I'm sure there are ways around the taxes by changing the structure of the company - trusts, incorporation, etc - but that will mean the small business owner will have to relinquish some control of the company prior to his death. And it'll mean a bunch more money for lawyers/estate planners, which is probably one of its principle aims...

          Comment

          • #6
            Originally posted by Eddie Jones View Post
            As for a personal philosophy, I have no issues with an inheritance tax or a tax on estates.
            Isn't that double taxation? They had been paying taxes on the wealth that had been accumulated while they were alive. Why tax the same income again?

            Comment

            • #7
              Originally posted by dabrockster View Post
              This is in regards to a Tax on Wealthy Estates etc..

              Quote:
              "In America, it's not a sin to be rich nor is it a crime to die rich," said Rep. Jared Polis, D-Colo. "This bill gives our nation's wealthiest families the ability to know exactly what their obligation to the nation that fostered their wealth will be, and it is fair and it is just."


              Does anyone else find this comment scary?



              Link to Article:
              http://www.breitbart.com/article.php...show_article=1
              No, not remotely scary. Increase the estate tax on the wealthy

              Comment

              • #8
                Originally posted by Hallelujah View Post
                Isn't that double taxation? They had been paying taxes on the wealth that had been accumulated while they were alive. Why tax the same income again?
                Yes, it is double taxation.
                Everything in life is an approximation.

                http://twitter.com/CougarStats

                Comment

                • #9
                  Originally posted by Hallelujah View Post
                  Isn't that double taxation? They had been paying taxes on the wealth that had been accumulated while they were alive. Why tax the same income again?
                  I shouldn't pay income tax either. After all, my employer has already paid taxes on that money.

                  Statman's hypothetical is an interesting one, but outside of those situations (and it seems like that one could be dealt with), I don't see a problem with taxing the transfer of wealth--we do it all the time.
                  At least the Big Ten went after a big-time addition in Nebraska; the Pac-10 wanted a game so badly, it added Utah
                  -Berry Trammel, 12/3/10

                  Comment

                  • #10
                    Originally posted by Hallelujah View Post
                    Isn't that double taxation? They had been paying taxes on the wealth that had been accumulated while they were alive. Why tax the same income again?
                    Yep it's double taxation. So is paying sales tax on a good or service with money you earned from your job. So is buying gas and paying the gas tax with money you earned from the increase in an investment.

                    But what's the difference between double taxation and just increasing income taxes? Taxes are taxes and the money has to come from somewhere.

                    The personal income tax is the dumbest idea ever conceived. The government asks approx. 200 million people to file their own tax forms based on some of the most complicated tax rules conceived.

                    It is such an inherently flawed system.
                    "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

                    Comment

                    • #11
                      Originally posted by frank ryan View Post
                      No, not remotely scary. Increase the estate tax on the wealthy
                      Hey some of us hope to inherit money!
                      Get confident, stupid
                      -landpoke

                      Comment

                      • #12
                        Originally posted by frank ryan View Post
                        No, not remotely scary. Increase the estate tax on the wealthy
                        why not just take all their money since they are dead and can't spend it anyway?

                        Comment

                        • #13
                          Originally posted by Hallelujah View Post
                          why not just take all their money since they are dead and can't spend it anyway?
                          Well, you didn't earn any of it so what entitles you to it?

                          The imposition of an inheritance tax, with certain limits under which money can be passed on to surviving family, encourages the disbursement of the wealth to charitable and other non-taxable entities. Without it we would probably move more towards a feudalistic society even more so than we already are becoming.
                          "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

                          Comment

                          • #14
                            Originally posted by Eddie Jones View Post
                            Well, you didn't earn any of it so what entitles you to it?

                            The imposition of an inheritance tax, with certain limits under which money can be passed on to surviving family, encourages the disbursement of the wealth to charitable and other non-taxable entities. Without it we would probably move more towards a feudalistic society even more so than we already are becoming.
                            Right, except the serfs have full power to attain their own lands. Slight variation from feudal England, for example.

                            Comment

                            • #15
                              Originally posted by HuskyFreeNorthwest View Post
                              Hey some of us hope to inherit money!
                              Id lobby to create a hfn loophole cause you're not a prick.
                              But I don't care for trust-fund babies generally

                              Comment

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