|
|
Posted by Steve Guidry on 08/15/06 18:41
For what it's worth, I've always thought that this debate on the estate tax
is probably one of the most legitimate tax debates going . . . because
(whether you're for it or against it) it reveals one's basic view of social
policy.
Here's the basic question as I see it : do we take money from those
families who have found ways to pass on the ability to generate wealth from
generation to generation, (this is no small feat) and - - among other
things - - give it to those who have demonstrated a profound lack of this
ability.
Those on the one side claim (rightly so) things like "This money has
already been taxed", and "It's my money, I should be able to leave it to my
kids, not the government".
Those on the other side call for "social justice", and say "sock it to those
rich bastards, they probably stole it anyway."
It's a fascinating argument . . .
"David McCall" <david--------@techshop.net> wrote in message
news:5smEg.3015$df.2940@trndny06...
> You keep talking about Bush giving tax breaks to the rich. I assume you
> are
> talking about the tax known as the death tax or the estate tax. This is
> also
> known as double taxation. Taxes have already been paid on that money, but
> some think taxing your money once isn't enough, it needs to be taxed again
> when you die. Most people are exempt from this tax completely because
> they don't own businesses or have substantial savings or investments.
>
> This tax is not just aimed at executives of big corporations, but also at
> the
> family that owns the mom and pop store on the corner. It is also aimed at
> the family that own a modest farm keeping that farm from being passed
> down.
> The theory is that dead people aren't around to complain so they make a
> good
> tax target. Unfortunately it isn't the dead person that suffers (his
> suffering is over)
> it is the rest of the family that has to sell the family business for
> pennies on the
> dollar to pay the taxes on their parents death.
>
> David
>
[Back to original message]
|