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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (320184)	1/11/2007 4:03:11 PM
From: bentway	Read Replies (1) \| Respond to of 1576349

Many inheritances could be taxed HEAVILY and still allow the Paris Hilton's of the world to still live worthless, non-productive lives their entire lives. Who better to tax than dead people? They're not behind the tree, they're UNDER it! America shouldn't be about little inherited economic principalities.

To: Road Walker who wrote (320184)	1/12/2007 12:12:18 PM
From: TimF	Read Replies (1) \| Respond to of 1576349

it's not really in societies best interest to concentrate wealth in the hands of people who haven't demonstrated any skill at using it productively. 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". I'm presuming that a higher inheritance tax would allow a lower income tax. Not by much. Income taxes bring in a lot more then estate taxes. Also the rate on estate taxes are not low. The top rate is close to 50%. If you do want to increase the revenue from estate taxes, it might make sense to lower the rate, but at the same time reduce the number of ways to get around the tax. 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).