which tax is fairest?

[dreamdancer 0]

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Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual. It is a tax on the estate, or total value of the money and property, of a person who has died. In international tax law, there is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate. However this distinction is not always respected. For example, the "inheritance tax" in the UK is a tax on personal representatives, and is therefore, strictly speaking, an estate tax.

http://en.wikipedia.org/wiki/Inheritance_tax

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[DanG 1]

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He's getting his agenda in in record time. Poverty is what he truly wants. That's the 'change' he likes to talk about. Pushing the nation into poverty is the best way to push us into socialism or even communism.

Do you really, no shit, believe that the President is actively trying to destroy the economy so he can turn the US into a communist state?

If so you have completely lost touch with the real world.

How do you expect people to discuss issues seriously when such ridiculous extremes seem to be turning into normal positions?

- Dan G

[Armour666 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

SO this one time at band camp.....

"Of all the things I've lost I miss my mind the most."

[piahenzi 0]

I don' t think he's the only one that sees a different motive in the agenda from the Obama team - perhaps not from capitalism to communism in 4 years, but certainly the road to a much more socialistic society.

[marks2065 0]

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That money has already been taxed at least once. Why tax it again?

money is taxed when you earn it, spend it, bank it - the same dollar goes round and round the economy and is taxed over and over again - inheritance tax is no different from any other tax in that respect. i think it is the fairest tax as the person getting taxed is gone, dead, shuffled off this mortal coil etc...

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remember this when your inheritance is taken from you

[rehmwa 2]

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I don' t think he's the only one that sees a different motive in the agenda from the Obama team - perhaps not from capitalism to communism in 4 years, but certainly the road to a much more socialistic society.

Obama, and both sides of Congress are not stupid people - so WHY are they doing such stupid things right now? What's their end game?

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Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[jerryzflies 0]

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streetscooby, money gets taxed lots of times so why not?

which tax do you think is fairest? (assuming you've got to tax in the first place)

That is seriously your answer? a nonchalant 'why not?' when speakin in terms of 'fairness' do you find it fair to tax the same dollar twice?

That is a very naive comment. Dollars get taxed every time they change hands.

I don't believe "fair" has any relevance in taxation. It's purpose is to raise money to run the government and services.

If you can't fix it with a hammer, the problem's electrical.

[marks2065 0]

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He's getting his agenda in in record time. Poverty is what he truly wants. That's the 'change' he likes to talk about. Pushing the nation into poverty is the best way to push us into socialism or even communism.

Do you really, no shit, believe that the President is actively trying to destroy the economy so he can turn the US into a communist state?

If so you have completely lost touch with the real world.

How do you expect people to discuss issues seriously when such ridiculous extremes seem to be turning into normal positions?

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how do you expect people to stop the change to socialism if people are not open to the possibility that Obama just may have an agenda to do just that? I hope this is not his agenda but it does look like it is going that way. we in america enjoy personal freedoms because we can earn money and pay to do them, socialism reduces and sometimes eliminates that ability and allows only the higher classes to enjoy the benifits that we enjoy just by working for them.

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[jerryzflies 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

Money taxed as income is also taxed when spent. Your argument is absurd.

If you can't fix it with a hammer, the problem's electrical.

[rehmwa 2]

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Income tax, because all other taxes take a larger percentage of a poor person's income. I'd make it a flat rate of maybe 30% and only allow two deductions:
1. The first $20,000 of a person's income, since anyone making less than that is barely scraping by.
2. Legitimate medical expenses (including dental and vision), since that money isn't really discretionary income.

This is the closest to my thoughts as a simple and practical version (fair and just don't play in tax conversations, it's too subjective).

The cutoff points and the percentages can be different, but the concept of a base deduction (same for everyone) and then a flat rate (same for everyone) above that point make good sense.

In application, it's still a progressive tax rate.

What would be argued?

1 - the amount of the basic deduction, whether people making less than that should be gifted up to that amount, why should the 'rich' get any deduction, etc etc etc

2 - the amount of the tax rate above the basic deduction - why not 100% and make everyone live on the same amount, etc etc etc

3 - you list only medical/dental/visual as what's REALLY not descretionary - just wait for people to tack onto that list and how it's necessary for some, but not others, etc

4 - no matter what happens, it'll always be structured to try and favor whatever class of people constitute the largest voting blocks

Doesn't matter though, you should be prepared to be called names and asked why you hate so much to be so selfish.

My subjective opinion on what's 'fairest'? Everyone pays the same dollars - but that's not practical.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[marks2065 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

Money taxed as income is also taxed when spent. Your argument is absurd.

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the inheritance tax is unfair. it is money that has already been through the gambit of taxes, money that someone has saved and willed to a relative or friend. When I die I hope some of the money I have worked for helps my kids, not the gov's wasteful spending habits.

[jerryzflies 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

Money taxed as income is also taxed when spent. Your argument is absurd.

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the inheritance tax is unfair. it is money that has already been through the gambit of taxes, money that someone has saved and willed to a relative or friend. When I die I hope some of the money I have worked for helps my kids, not the gov's wasteful spending habits.

When I buy a rig, the money I spend has already been taxed when I EARNED it.

Why should money I inherit not be taxed, when money I work for is taxed?

There's no logic to your argument.

If you can't fix it with a hammer, the problem's electrical.

[DanG 1]

Obama may want the US to turn more socialist. That's not what Muenkel said. The idea I think is ludicrous is that he is actively sabotaging the country. If you've gone so far off the reservation that you think the President is trying to destroy America to increase his ability to remake it in a communist mold, then there is really no point in talking to you.

- Dan G

[Armour666 0]

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When I buy a rig, the money I spend has already been taxed when I EARNED it.

Why should money I inherit not be taxed, when money I work for is taxed?

There's no logic to your argument.

Easy as you are spending the money to buy an item the item is taxed, it is not taxing money you spend on it so you are not being doubled taxed. As for being taxed on your income yes you pay taxes on it but conversely your employer is able to use it as an expense to reduce the amount of tax they are paying so the money is again only being taxed once.

If I made $100,000 and save it I pay my taxes on that income I then kick the bucket and the inheritance is taxed again just due the changing of hands nothing was ever bought or done with the money other then left to the next person and the government gets to tax it? How is that fair?

I can see and agree on taxing the capital gains on inheritance but to tax the money itself serves no purpose other then a grab at an already taxed income.

SO this one time at band camp.....

"Of all the things I've lost I miss my mind the most."

[masterrig 1]

Inheritance tax is the reason so many 'family owned' farms and ranches in this country are being sold-off. The kids inherit the family farm or ranch and find no way out but to sell it to pay the taxes.


Chuck

[marks2065 0]

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Inheritance tax is the reason so many 'family owned' farms and ranches in this country are being sold-off. The kids inherit the family farm or ranch and find no way out but to sell it to pay the taxes.


Chuck

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not just farms but many family owned businesses. the inheritance tax also costs people the house they live in.

[marks2065 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

Money taxed as income is also taxed when spent. Your argument is absurd.

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the inheritance tax is unfair. it is money that has already been through the gambit of taxes, money that someone has saved and willed to a relative or friend. When I die I hope some of the money I have worked for helps my kids, not the gov's wasteful spending habits.

When I buy a rig, the money I spend has already been taxed when I EARNED it.

Why should money I inherit not be taxed, when money I work for is taxed?

There's no logic to your argument.

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tell that to the people that lost family treasures to the tax system.

I buy a house and my kids live there, when I die they must rebuy that house by paying tax on it. Depending on the value of the house the tax would be between 20 - 60%. how would you like to loose your family home because you parents died? Just because you don't earn the money your parents did. put your parents in the ground and then have to move out of your home just isn't right.

[masterrig 1]

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Inheritance tax is the reason so many 'family owned' farms and ranches in this country are being sold-off. The kids inherit the family farm or ranch and find no way out but to sell it to pay the taxes.


Chuck

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not just farms but many family owned businesses. the inheritance tax also costs people the house they live in.

I agree with you. Also, with family owned businesses, the big chain stores Wally-World, Target and etc. haven't helped matters. Those 'mom 'n pop' stores were wonderful! They always seemed to have the neatest 'stuff'. The local hardware store had everything... including people who knew what they were selling and could really help the customer. They all carried that 'odd-ball' stuff, that nut & bolt that you couldn't find anywhere else. Between the two, taxes and BIG business, America is missing-out. I guess, I've reached that point in life where I know what the old-timers meant by 'the good ol' days'.


Chuck

[Capt.Slog 0]

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When I buy a rig, the money I spend has already been taxed when I EARNED it.

Why should money I inherit not be taxed, when money I work for is taxed?

There's no logic to your argument.

Easy as you are spending the money to buy an item the item is taxed, it is not taxing money you spend on it so you are not being doubled taxed.

How does that not apply to spending money you inherited?

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I can see and agree on taxing the capital gains on inheritance but to tax the money itself serves no purpose other then a grab at an already taxed income.

What if the money you inherit was not earned in the first place?

Our system generally taxes transactions - earning, spending, dividends, etc. Why should the transaction of inheritance not be the same?

[Capt.Slog 0]

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Inheritance tax is the reason so many 'family owned' farms and ranches in this country are being sold-off. The kids inherit the family farm or ranch and find no way out but to sell it to pay the taxes.


Chuck

Oh dear.

You know the dollar amount at which inheritance tax kicks in, right?

It's not as if the government is taking money from starving widows and orphans.

[Capt.Slog 0]

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Impossible to answer this poll. Each tax can be adjusted to different percentages and you don't allow for multiple answers.

it seems pretty obvious to me that an inheritance tax is the fairest of them (the taxed individual is dead so it's not going to affect them much, if at all

I think that is the most unfair tax, the money has already been taxed at the source and time of income how is it fair to tax it again?

Money taxed as income is also taxed when spent. Your argument is absurd.

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the inheritance tax is unfair. it is money that has already been through the gambit of taxes, money that someone has saved and willed to a relative or friend. When I die I hope some of the money I have worked for helps my kids, not the gov's wasteful spending habits.

When I buy a rig, the money I spend has already been taxed when I EARNED it.

Why should money I inherit not be taxed, when money I work for is taxed?

There's no logic to your argument.

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tell that to the people that lost family treasures to the tax system.

I buy a house and my kids live there, when I die they must rebuy that house by paying tax on it. Depending on the value of the house the tax would be between 20 - 60%. how would you like to loose your family home because you parents died? Just because you don't earn the money your parents did. put your parents in the ground and then have to move out of your home just isn't right.

The amount an individual can leave to heirs free of federal estate taxes in 2009 is $3.5 million.

You must have a pretty nice house, Mark, if you are concerned about it.

[livendive 8]

In my side business (skydiving school), I pay B&O tax on 100% of gross receipts. The money that I pass on to contractors is also subject to B&O tax on their gross, as well as income tax on their net. There is most certainly double-taxation going on with taxes being charged for transactions that only include money being transferred from one individual/entity to another.

Blues,
Dave

"I AM A PROFESSIONAL EXTREME ATHLETE!"
(drink Mountain Dew)

[marks2065 0]

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The amount an individual can leave to heirs free of federal estate taxes in 2009 is $3.5 million.

You must have a pretty nice house, Mark, if you are concerned about it.

[Capt.Slog 0]

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Obama wants to greatly increase this tax to gain revenue for the government thus giving us back the problem we have overcome.

[champu 1]

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Our system generally taxes transactions - earning, spending, dividends, etc. Why should the transaction of inheritance not be the same?

Our system taxes economic activity, not simply transactions... earning money you worked for, spending money on products and services, paying dividends on investments.

Dying, much like giving a gift or making a donation, contributes nothing to the GDP. It's taxed because enough people don't like the idea of "old money" and prefer the idea of "redistribution of wealth," not because it's "fairest of them all" or because it's "just like any other transaction."