Do you think it will be abolished?....Its been suggested that's for sure.
Do you think it should or should not be?
2007-08-31 01:38:21 · 14 answers · asked by nonoodles74 7 in Politics & Government ➔ Politics
No...
The amount tax-free is already a nice sum (?~$750,000?).
and certainly, we shouldn't expect anyone to receive a windfall without paying something...
Why can't rich heirs work? Would it hurt Paris HIlton to pay a few bucks when she assumes the family fortune?
2007-08-31 01:47:31 · answer #1 · answered by outcrop 5 · 2⤊ 3⤋
Since the inheritance tax only applies to estates over $700,000 [with one amendment in the works saying it would apply only after $1 million] only a very small percentage of the population would be affected, as in minuscule. It's a great issue for the GOP, however...they're calling it [drum-roll] the Death Tax. Abolishing it would be painless to the seriously rich [whose lawyers would find ways around it anyway] and would add an enormous chunk to the national coffers...as in billions per year. People can be suckered into thinking it will "destroy" family farms and businesses...but run the numbers out, it only applies to the upper percent of the uppermost percent...who haven't been paying their fair share in the economy since forever. Making doom-filled predictions is part of the MOU of the right wing...this is just one more sample.
2007-08-31 01:54:21 · answer #2 · answered by constantreader 6 · 1⤊ 2⤋
instead they should abolish the tax on earned income. Inheritance should be tax at 50% or more. This is not a aristocracy. If they dont like the idea of paying the tax then they can spend it before they die. Let people earn their own way.
2007-08-31 01:48:25 · answer #3 · answered by wisemancumth 5 · 1⤊ 2⤋
Nope it should be increased. And any inheritance under 2 million should be exempt. The tax was created to keep this nation free of the super rich who would buy and sell politicians and control our nation.
2007-08-31 02:10:02 · answer #4 · answered by Anonymous · 1⤊ 0⤋
No it shouldn't be abolished. The person who inherits money didn't earn it thur their own effort so why should it be tax free
2007-09-01 00:48:11 · answer #5 · answered by xg6 7 · 0⤊ 0⤋
I dont know but I think that some tax should be paid on it. After all it is income. By the way thank you for asking the question that puts me at level 6. have a good day.
2007-08-31 01:48:04 · answer #6 · answered by bildymooner 6 · 1⤊ 1⤋
The extreme greed and lust for spending our congress has, will keep this cash cow in place.
I think it should be abolished, it's plain and simple abuse by the government. They should not be entitled to what people worked hard for, paid taxes on and planned to pass on to their beneficiaries.
2007-08-31 01:54:34 · answer #7 · answered by Anonymous · 1⤊ 2⤋
Yes. The first step being to raise the threshold to a sensible level (say, $10,000,000).
2007-09-01 21:17:27 · answer #8 · answered by galyamike 5 · 0⤊ 0⤋
Of course it should be abolished. How many times should we tax the same money?
Islam delenda est
2007-08-31 01:44:41 · answer #9 · answered by Anonymous · 1⤊ 2⤋
It should be abolished. But, sadly, it won't be. It fits to perfectly into the left's class warfare mantra.
2007-08-31 01:48:55 · answer #10 · answered by Anonymous · 1⤊ 2⤋