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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (320324)1/12/2007 12:31:11 PM
From: Road Walker  Read Replies (1) of 1575761
 
re: You write as if it was a government transfer program to the wealth heirs. The wealth gets in the hands of the heirs from their people they inherit it from, not as part of a transfer program or as a gift from "society".

There are taxes on both inheritance and income. Society has the choice on which to tax at what rate. It seems to me that it is more productive (and probably more fair to citizens) to tax estates at a higher rate than income.

re: In any case reducing the loopholes, or increasing the rate, isn't going to do much to discourage "the creation of" people like Paris Hilton (apparently Ted's aim) unless the rates are confiscatory (and at the same time you really crack down on trusts and other ways to avoid the tax).

You would probably have to cut back on trusts and loopholes. I thought the estate taxes were much lower... frankly I haven't given this a lot of thought... just thinking out loud.
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