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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (320588)1/13/2007 6:09:40 PM
From: Road Walker  Read Replies (1) of 1576196
 
re: The money is taxed before it goes to the heirs. Technically the estate is taxed, but if you want to put that on a person its a tax on the dead guy.

Technically I suppose you are correct but practically you are blowing smoke.

re: For the most part taxes have already been paid on that money.

As on all money.

re: But even if we figure that estates should be taxed, that its just and good to do so...

...they already are, and at a higher rate then income.

You said yourself that the loopholes (trusts) make the tax rates low. That's the part that could be corrected.

re: And if you increase it even more it still won't generate enough money to allow for a major income tax cut.

I'm not sure that is true, do you have data? Even if it is incremental, you have to agree that the income tax cut would be more productive than the increase in inheritance tax... for the economy.
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