This sort of stuff makes the argument for inheritance tax

[a777pilot]

Actually no. I was explaining the concept of why taxes are not a breach of private property rights.

Ah, but they are. If you think the government doesn't own your property, just try to NOT pay those pesky property taxes and see what happens.

I have no problems with having to pay a sales tax when ownership of private property changes but not a continuing property tax.

If you did not vote for Bobo, the Post Turtle, good for you.

 

[zsdersw]

Ah, but they are. If you think the government doesn't own your property, just try to NOT pay those pesky property taxes and see what happens.

That's not a demonstration of government owning property, it's a demonstration of someone not living up to their end of the business transaction; of agreeing to accept services but not paying for them.

 

[brencat]

It's her right to do what she wants with her money. If she wants to squander it on a life of laziness, then so be it.

This ^

Private property rights dude. You either believe in it or you don't. And as an aside, nice pair of shoes that guy has in that black and white!

 

[yllus]

Someone getting money from relatives for doing nothing should be taxed at least at the highest rate that someone who makes money through work income is taxed.

That actually doesn't sound that bad.

 

[a777pilot]

That's not a demonstration of government owning property, it's a demonstration of someone not living up to their end of the business transaction; of agreeing to accept services but not paying for them.

One could do the very same thing with a sales tax, a one time sales tax, on the transfer of ownership of real property.

Income and Property taxes are anti-freedom and anti-personal rights.

 

[zsdersw]

One could do the very same thing with a sales tax, a one time sales tax, on the transfer of ownership of real property.

That's true, but I was referring to the general concept of taxation. Taxation, itself, is not a breach of private property rights.

 

[rudder]

So was money that pays my paycheck, but when I get it, I pay taxes on it myself. Same should apply to inheritance. There is nothing that says money is only taxed once, ever. It's only taxed once per person.

So if I want to give a nephew $20 for his birthday... i send him $18 then send the other $2 to the government?

If the money sits in the bank and earns interest... that interest is taxed. If the money is spent, it gets taxed... i.e., it is given away to a charity and the charity spends it.

then money was taxed when it was earned. and will be taxed again.

 

[a777pilot]

That's true, but I was referring to the general concept of taxation. Taxation, itself, is not a breach of private property rights.

It is if that taxation is part of the "ownership" of the property. Then the property is owned by the State and that taxation is rent. Don't pay it and you are out.

 

[ElFenix]

The money already was taxed.

no, it wasn't. it's a personal income tax, not a familial income tax.

 

[Fear No Evil]

So was money that pays my paycheck, but when I get it, I pay taxes on it myself. Same should apply to inheritance. There is nothing that says money is only taxed once, ever. It's only taxed once per person.

Once your children turn 18 then I can only assume you would support a 40% tax on any money you give them? Got an 18 year old in school who you may be paying their cell phone bill? Add 40%.. Help them buy a car? 40%.. Money for a downpayment on a house? 40%..

 

[zsdersw]

It is if that taxation is part of the "ownership" of the property. Then the property is owned by the State and that taxation is rent. Don't pay it and you are out.

Property taxes are imposed by local governments. These local governments and their taxes were formed with the consent of their residents.

 

[Genx87]

I'm not talking about saving anyone or anything, I'm trying to figure out why some kinds of perpetuated wealth are bad (monarchies) and some are good. Maybe you guys can explain.

Sure you are by comparing people inheriting vast amounts of wealth with monarchs.

I know you are more intelligent than that question. A private citizen amassing wealth does so by buildinga business, a product, an invention that betters society, invests wisely. The list can go on. A monarch is a form of govt that forecibly takes wealth from its citizens to give to the king and queen. Who then pass that wealth via the force of govt to their heirs.
They dont create anything, nor invent shit.

 

[fskimospy]

Sure you are by comparing people inheriting vast amounts of wealth with monarchs.

I know you are more intelligent than that question. A private citizen amassing wealth does so by buildinga business, a product, an invention that betters society, invests wisely. The list can go on. A monarch is a form of govt that forecibly takes wealth from its citizens to give to the king and queen. Who then pass that wealth via the force of govt to their heirs.
They dont create anything, nor invent shit.

I know you're smart enough to figure out the point of my question, which is if people on here are down with protecting private property acquired by certain legal means, but not okay with private property acquired by other legal means.

You also might want to be careful about making the argument that we should only protect private property acquired through means that benefit society.

 

[werepossum]

Once your children turn 18 then I can only assume you would support a 40% tax on any money you give them? Got an 18 year old in school who you may be paying their cell phone bill? Add 40%.. Help them buy a car? 40%.. Money for a downpayment on a house? 40%..

Nah, his kids will be progressives, and progressives don't become adults until slightly after retirement.

 

[blackangst1]

People give money to Bill Gate / Microsoft freely and voluntarily for a service.
If he hypothetically wanted to give all his money to his spoiled kids to spend it on booze and parties and Lamborghini's, then that's his choice and their prerogative.

He earned the money and he wants his kids to have it. That's his choice because its his property that he earned legally and voluntarily.

Kings and Queens amassed wealth through force on their subjects.

How is this anything like a monarchy?

(slightly OT)

Except Gates is leaving his kids $10 million. Thats BILLIONS being given to charities, etc.

 

[Cogman]

(slightly OT)

Except Gates is leaving his kids $10 million. Thats BILLIONS being given to charities, etc.

nm

 

[BlahBlahYouToo]

That actually doesn't sound that bad.

wow really?
i thought better of you sully before reading this post of yours.

 

[desy]

Her money sitting there is adding value cause its invested, if it wasn't it would be in a matress losing value at the rate of inflation.

I don't have a problem with estate taxes, She's had all the benefits of living in our society which certainly has never been arduous to the rich.
Argue about what is appropriate though. . .

 

[Fern]

This sort of stuff makes the argument for inheritance tax

No, not really.

I say that because it was highly likely that at the time this woman received her inheretance we had a very stiff inheretance tax in force.

It's only been in the last several decades it's been watered down. Given she was over 100 yrs old (if I read the article right) she likely received her inheretance a long time ago when rates were about 80%, and that would be just for federal. States have inheretance taxes too.

Given her extreme age it's quite likely whatever she received after inheretance taxes grew tremendously in the stock market ect. Of course her real estate and art work type assets would have appreciated greatly too.

BTW: I support a strong inheretance/estate tax.

Fern

 

[matt0611]

(slightly OT)

Except Gates is leaving his kids $10 million. Thats BILLIONS being given to charities, etc.

Oh yeah, I knew that too, was just using him as a generic rich person hypothetical example.
Bill Gates is a pretty great guy in my book.

 

[glenn1]

Someone getting money from relatives for doing nothing should be taxed at least at the highest rate that someone who makes money through work income is taxed.

And surely that includes relatives like Uncle Sam? Tax the shit outta all those receiving government benefits.

 

[theeedude]

So if I want to give a nephew $20 for his birthday... i send him $18 then send the other $2 to the government?

If the money sits in the bank and earns interest... that interest is taxed. If the money is spent, it gets taxed... i.e., it is given away to a charity and the charity spends it.

then money was taxed when it was earned. and will be taxed again.

So you are saying that if I promise to deposit paycheck in the bank and pay taxes on the interest, I should not have to pay any income taxes? I don't see anything in your argument that would justify having people who get money from relatives for doing nothing pay no tax, while people who work for their money have to pay income tax on it.

 

[theeedude]

Once your children turn 18 then I can only assume you would support a 40% tax on any money you give them? Got an 18 year old in school who you may be paying their cell phone bill? Add 40%.. Help them buy a car? 40%.. Money for a downpayment on a house? 40%..

You are assuming they are in the 40% tax bracket, but yes, they should pay taxes on it, just like someone saving for a down payment, paying their phone bill, and buying a car through hard work has to pay taxes. I think income you get for doing nothing should not be taxed at a lower rate than income you get from hard work.

 

[Lithium381]

I don't get it..... it was taxed when it was earned, and it will be taxed when it is spent.... why does the government get it's grubby fingers on it in between? Just like in the example above.... you earned a paycheck and paid tax on it.... you give $100 to your 16 yo daughter to go buy a pair or jeans.... she buys them and is taxed on it. Youre saying that it should be taxed AGAIN when you hand her the $100?

 

[WHAMPOM]

Why should we wait to take people's money until they die? Should be not be taking Gates' and Buffet's money now? Why does being alive make you any more entitled to it?

News to me that Gates and Buffet are not being taxed right now. WOW!!