It's not the government's money, it belongs to the bereaved family
2007-08-03 13:20:25 · 11 answers · asked by Anonymous in Politics & Government ➔ Politics
Good luck. When is the last time those whores in Washington abolished a tax?
2007-08-03 13:26:31 · answer #1 · answered by Anonymous · 2⤊ 3⤋
I couldn't agree more. The income the government receives is fairly small for this tax in relation to the overall income. However, think of all the millions and millions of dollars moved around each year by rich people looking to avoid it. People spend millions each year just to have their money accounted for in ways to minimize this tax.
Their are two ways that people that pay this tax. The first are the ones that have grown into money by being moderately successful. A lof of small business owners who work hard and are successful will eventually have a large enough estate to suffer the tax penalty when they pass. However, since they weren't way over the line, they probably will not be as prepared as someone that was considerably richer. The other type is the amount left on the table by the really rich that they had exposed at any one time, and either couldn't shelter from it, or they were actively using it when they died.
I would love to see a study showing money management based on avoidance of this tax and how people would manage their money if it didn't exist. The impact of having that much more money actively working in the US instead of sheltered would, in my opinion, dwarf the amount that the government receives. However, as some will indicate, this tax is also a favorite one for some to use to show that they are working for the little guy and punishing the rich for having money and not wanting to share it.
2007-08-03 20:38:44 · answer #2 · answered by bkc99xx 6 · 1⤊ 1⤋
No. Only a very small number of rich people have to pay it. Most still find ways to avoid paying it. In theory in lessens the chance of creating a permanent moneyed aristocracy, one of the things the founding fathers were strongly opposed to. It also encourages charitable giving on the part of the rich. Also, any rich person in the USA got that way in part due the judicial systems, government spending on infrastructure, providing law and order, national defense, stable markets etc. Why shouldn't the rich give something back to the country and why should of bunch of ne'er do well offspring get a bunch of money that they did nothing to earn so they can become wastrels drug addicts, etc. What's so bad about having these people work for a living instead of lazing around spending their trust funds? And "The government" is the representative of all the people anyway.
2007-08-03 20:34:26 · answer #3 · answered by Anonymous · 1⤊ 3⤋
Yes. What most of those class warfare types don't understand is that the vast majority of those "estates" they want to tax upon death are mom-and-pop businesses that dad spent a lifetime building and the kids can't continue because the government wants a big cut because dad died.
2007-08-03 20:35:39 · answer #4 · answered by nileslad 6 · 3⤊ 1⤋
it's the most ridiculously unfair tax that was ever thought up by our spend crazy government. it never should have been established. the government has no right to money that has already been taxed at least once and was saved to be passed on to family.
2007-08-03 20:39:21 · answer #5 · answered by Anonymous · 3⤊ 0⤋
All money belongs to the people -- until the govt decides to take it....
Yes, I think the estate tax (aka the death tax) is a bad idea, just like income tax and capitol gains tax -- the govt should not be taking money just because people earn it.
I prefer people keep their own money, and choose what to spend it on -- no govt-sponsored charity.
2007-08-03 20:32:02 · answer #6 · answered by coragryph 7 · 3⤊ 2⤋
It took 5 answers for some racist liberal to play the race card! That's not bad!
I suppose it is a bad tax. THe income has already been taxed.
2007-08-03 20:34:15 · answer #7 · answered by A Plague on your houses 5 · 1⤊ 1⤋
Yes, that money and Estate have been taxed already by your hard working family. It's a crime to tax it again and it needs to go away.
2007-08-03 20:25:51 · answer #8 · answered by El Guapo 4 · 2⤊ 3⤋
No the Estate tax, should not be abolished. Why ? Because the wealthy should pay their share of the taxes. What makes the wealthy think they should not pay ?? The Middle class has to pay and even poor people if they inherite an estate. We all need to pay our share of Taxes.
2007-08-03 20:39:58 · answer #9 · answered by Norskeyenta 6 · 1⤊ 5⤋
The estate tax should absolutely be abolished. It is not moral to tax death.
2007-08-03 20:24:38 · answer #10 · answered by Trav 4 · 3⤊ 3⤋