Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Peter Dierks who wrote (742812)	6/16/2006 6:19:47 AM
From: haqihana	Read Replies (2) \| Respond to of 769667

Peter, A lot of people don't seem to understand that the money left to heirs in the estate of the deceased, has already been taxed to the limit of the law. Any tax on that same money is double dipping by the government, and is not fair, nor should it be legal. Even trusts have paid the taxes on the funds put into the trust, and any earnings of the trust are taxed just like the income of an individual, so as you say, an estate tax is double jeopardy and should be illegal.

To: Peter Dierks who wrote (742812)	6/16/2006 1:48:29 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769667

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.)