Spartanmack
Senior Member
- Joined
- Jul 9, 2013
- Messages
- 17,538
okay, so estate taxes pretty much only hit the wealthy. are you really going to argue this?
I think I've said before there should be exceptions for family business, farms, etc.
you can find the IRS summary very easily. now we only tax estates OVER $1,500,000, and there ARE exceptions for family businesses and farms. it goes without saying though these exceptions should be qualified and heavily scrutinized to prevent them from becoming loopholes for idle wealth.
I don't understand why or how anyone who purports to be in favor of the free market and unbridled capitalism supports defending this property right to such extremes; allowing billions of dollars to be tied up in trust funds for kids and grandkids means that money isn't going to any productive use. and it's permitting the establishment of a permanent aristocracy among certain families.
No, WE shouldn't heavily scrutinize estates because they're not OURS - the government doesn't have a legitimate claim to them. There should be no estate tax. The fact that you arbitrarily identify anything over $1.5mm as wealthy doesn't legitimize your claim to someone else's property. But I'm not arguing that estate taxes don't only affect the wealthy. I'm arguing that the income has been taxed and shouldn't be subject to further taxes - double taxation is unconstitutional.
What people do with their wealth is none of your or my business. They're free to allow it to sit idle or spend it however they please because it's theirs whether you think they worked hard enough for it or not. It's been taxed as income and death doesn't give government the right to dip their hands in a person's pocket again. Your lack of understanding of free markets and "unbridled" capitalism also doesn't legitimize your claim to it - particularly when you want the money to be confiscated by the government, the least efficient, most corrupt and most wasteful operator in the economy.
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