Re: "If you wish to keep the ...tax for income accumulations that have not been taxed...."
Fine by me if you want to pass that as a rule for ALL TAXES!!!!!!!
Sales taxes, income taxes, property taxes, 'user fees', corporate dividend payouts, etc., etc., etc.
If you can somehow prevent dipping into a single revenue event multiple times, by multiple entities, then I'm ALL FOR IT.
Good luck with that...
(But --- until you can do it for ALL TAXES, permit me to not climb aboard your particular hobby horse with the estate tax. And, remember what often seems a 'basic rule' for taxation: the time government's prefer to go after taxes is when money changes hands... for all the practical reasons of efficiency and establishing valuations easily....)
Meanwhile there are plenty of options available for avoiding estate taxation --- as witnessed by the low average effective rate of tax paid overall.... And there is GREAT NEED for tax reform and simplification in MANY, MANY areas.
If I were to list my 'personal top 50' list of important, needed tax reforms... estate tax changes would probably rank in the '40s' somewhere (where I would likely advise putting a more reasonable estate size floor down at which taxes would be triggered --- say around $5 million, or $10 million, or $15 million or so --- then putting in provisions to automatically raise the floor with CPI adjustments, and lower the over all tax rate to be EXACTLY THE SAME as the ordinary income tax rate (ideally: one rate only for ALL INCOME, regardless of source.) |
