then why am i getting taxed everytime i turn around? I mean there is a fourty percent death tax(money you inherate) cant spell that... any way. you get taxed when your paid, taxed when you purchase, and taxed annualy on property. and if you change state some of them make you pay property taxes on your car again in the same year... i hate it. if the goverment would stop greasing so many pockets(other countries included) we wouldnt need these taxes!!!
2007-06-01 23:10:56 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Who says it's illegal?? But your facts are messed up.
YOU don't pay a DIME in tax when you inherit. That's right, not a SINGLE DIME, PENNY, QUARTER, DOLLAR or NICKEL. Nada. A few states do have an inheritance tax though that's normally paid by the estate and is a LOT less than 40%. Some estates may pay an estate tax though that doesn't kick in until until the value of the estate exceeds $2 million (for 2007). But as the beneficiary, YOU won't pay ANYTHING.
Once income is taxed, those dollars are gone. The remaining dollars are tax free to you. If you pay for something that's taxed with one of those dollars, that tax is paid with tax free dollars so you're not double-taxed there.
Property taxes. Hmmm.. Well, you want schools, fire protection, police protection, usable roads, yadda yadda. You got a better way to pay for them? I'm listening if you do!
If you think govermnent is expensive in the US, move to Europe for a while. Pay $7 - $9 for a gallon of gas -- the difference is all TAX, my friend. Then pay income taxes at rates that go as high as 70%. And sales tax (VAT) from between 15% and 24%. Been there, done that, came back home. Cheers, danke, merci, grazi, gracias, danku.
Note to Gem: I have a government pension (though my useless ex-wife gets half of it, she didn't do crap to earn that -- not even sex me up more than once every 2 years) and a great healthcare package. I got that by serving this nation for over 21 years in the military so that YOUR lilly-white backside could stay SAFE & FREE. Yeah, I'm a war vet. But I'll bet you "Support Our Troops", right? Mule biscuits! And before you snipe at the civil servants, keep in mind that they make about 25% LESS than their civilian counterparts in exchange for their pension and medical care. Everything has a cost, Missy!
2007-06-02 03:53:50 · answer #1 · answered by Bostonian In MO 7 · 3⤊ 1⤋
Where did you get the idea double (or triple, quadruple, etc) taxation was illegal? I definitely agree we are over taxed, but I DEFY anyone to show me any law that claims to prohibit double taxation.
BTW, There is no Federal tax on inheritances. Some states have such a tax, but not at 40%. If the estate is large enough, the ESTATE itself is taxed before you inherit anything.
2007-06-02 04:27:42 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
It is not the money we "give" away. It is the lifetime pay and benefits for government employees that are bankrupting our country and raising our taxes.
When will we Americans wake up and demand that government employees get no better than the average American. I don't get a pension and I don't have the best healthcare that tax money can buy, then why do our employees get that?
Mark my words, our children will have to pay double what we pay in taxes so that the postman and the clerk at the DMV can be paid for life.
Great system isn't it.
2007-06-02 00:06:26 · answer #3 · answered by Gem 7 · 0⤊ 4⤋
you know we are in massive debt to other countires, mainly china. we even owe mexico money. as of dec 06 we owe $4,900,000,000 to other countries.
2007-06-01 23:21:55 · answer #4 · answered by doyal797357 2 · 2⤊ 2⤋