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Politics : PRESIDENT GEORGE W. BUSH
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To: DuckTapeSunroof who wrote (742929)6/20/2006 11:25:43 AM
From: Peter Dierks  Read Replies (1) of 769667
 
"what makes you think that taxing income earned by working or investing is 'moral'?"

The corpus of most currently taxable estates contains assets that have been accumulated through earnings which were taxed at the time the income was generated or recognised.

The immorality of the death tax comes down to the question: Which is first on the scene the IRS or the ambulance chaser? Does either leave anything of the other? Is the official bird of the IRS the vulture?

At the current time we do not allow the federal government to tax our property value except at death. While the greedy Washington bureaucrats may have wet dreams over the idea of a wealth tax, fortunately, it has not happened yet.

Even if the tax methodology were changed to asset valuation from income recognition, death tax would be immoral because is would be multiple taxation of assets that had already been assessed.

I believe Mana already posted this to you:

Thomas Jefferson:

"To take from one, because it is thought his own industry and that of his father has acquired too much, in order to spare to others who (or whose fathers) have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, "to guarantee to everyone a free exercise of his industry and the fruits acquired by it."
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