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Originally Posted by John Holmes III
Agreed, it is double taxation. On a much smaller scale, it's like when you buy a used car and have to pay sales tax. For example, think of how much money in sales taxes a six or seven owner mid '80s Mercedes has brought in for twenty years. It's a money making machine, because almost all Americans need a car in order to function. Thanks goodness my state created a exemption for farm equipment last year. Is it fair for a hard working farmer to have to pay sales tax on a used hay baler that has The been bought and resold countless times? Who makes more profit in the end? The company that makes the product? or the govt?
Sorry, just had to rant a bit.
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No offense JD but I see the used car tax as a transactional capital gains 'sales' tax and I am ok with that. With the death tax, you pay money making the pile, and then pay again for the priviledge of dying on a pile. No need to apologize for the rant.