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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (530521)	1/27/2004 12:14:54 PM
From: Bill	Read Replies (1) \| Respond to of 769670

Inheritance tax, dividend tax, capital gains, AMT. The gardener pays no fed income tax. He rides free thanks to the generosity of people like me.

To: American Spirit who wrote (530521)	1/27/2004 12:16:49 PM
From: redfish	Read Replies (2) \| Respond to of 769670

"If you inherit a million shares of Dupont and live off that you have basically no taxes to pay and neither do your heirs. Meanwhile your gardener gets 35% taken out of his paycheck upfront. Therein lies the unfairness." Presumably your ancestor purchased the Dupont stock with earned income, so to tax the Dupont stock again as income would be to tax the same income twice. The dividends it throws off gets taxed, albeit at a lower rate, which I would agree is unfair. The capital gain is taxed at a low rate .... since a big part of the capital gain reflects inflation, arguably it shouldn't be taxed at all, or at the least your cost basis should be indexed to the cpi.