Quote:
Originally Posted by JollyRoger
I just don't see it that way. When you die, the money you leave to your children is unearned income to them. "because you died" is not a good enough reason for your children to dodge the income tax. As I stated earlier, we need to treat all income the same - while this is after-tax money to you, the dead guy, to the living, it is income. Capital gains, earned income, inheritance income above a certain point (which, contrary to your assertion is fabulous wealth to most people at the current 3.5 million of exempted estate) all should be taxed at around 12 percent IMO. I just don't see how, especially given the fact you would be dead at the time, this would be much skin off your behind.
I also think one way we might also compromise is for as all to admit that the entire income tax system in this country is a failure and is utterly unable to equitably divide the burden, that we scrapped the damned thing and institute a VAT tax, which at least assures that all will pay something.
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It is also money you earned and were taxed on. This is more like the govt double dipping.
If by that you mean that I am only taxed on whatever I purchase and there are NO other taxes, be it county tax, stadium tax, dog catcher tax or what not, sure. Problem is that there are so many different taxes, I will bet that the Average American doesn't know exactly what they pay for taxes. That allows the politician to lower a tax here but add another one there.