I would like some honest opinions on the estate tax. I am not a republican, so I know I'm supposed to be all for them, but I'm far from that. Here is my view, please read and then give me yours.
If my father works his entire life and pays taxes on every penny he makes, those funds have already been taxed. Because he leaves them to me, I am, according to the government, getting "NEW INCOME" that should also be taxed (At a much higher rate than anything I earn from a job mind you). However, I don't see it this way.
The money is not new income to my family. It has been in our family since my father began working. Being a part of the family, directly related to him by birth, it would seem to me that they are double taxing this money (property, assets..etc).
Why does the government deserve to take more of the money that they have already collected taxes on? Some families who run businesses often times lose their business because they cannot pay the taxes on the business's value.
2006-10-04
16:47:18
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8 answers
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asked by
iswd1
5