Inherited wealth. Any justification?

[Dot Com]

I like this quote:

“A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood.

Anyone know who said it?

 

[Agit8r]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

It isn't about money belonging to government, it is about a society based upon merit. Money is but a medium of recognizing merit, no?

 

[California Girl]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

 

[Agit8r]

I like this quote:

“A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood.

Anyone know who said it?

do tell

 

[Rozman]

Money has been earned and taxed.It belongs within the family.If taxed as income to the next family member then it should be done so at a reduced rate...How many times does government need to put their
hands in a citizens pocket.

Forget I asked that question,to the Democrats all money earned by Americans belongs to the government first and in their magnificent benevolence we should all be grateful we have what we have.

 

[Robert]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

It isn't about money belonging to government, it is about a society based upon merit. Money is but a medium of recognizing merit, no?

Wow who knew our Society was based on 'merit'...Please tell us what other nations are based on 'merit'

 

[California Girl]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

It isn't about money belonging to government, it is about a society based upon merit. Money is but a medium of recognizing merit, no?

Screw you. You don't get to decide who deserves what. Nor does your Messiah.

 

[Agit8r]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

WHOAAAH! The British Royal Family got their wealth FROM TAXES

 

[Gunny]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

It's none of your business.

I really don't think it's fair that you inherited hair.

 

[Navy1960]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

My point was Cali, that anyone who has inherited money, and is subjected to a tax on that money simply because they have inherited it is more akin to a penality because the taxes have been paid on it already. I also believe that individuals should want to pay taxes out of a deep love for the nation in which they live provided, that money is spent wisely. If it's not then they have every right to question why. However, I do not believe that money that is earned anyone should assume is the Govts. to do with as they please.

 

[Agit8r]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

It isn't about money belonging to government, it is about a society based upon merit. Money is but a medium of recognizing merit, no?

Wow who knew our Society was based on 'merit'...Please tell us what other nations are based on 'merit'

Well, that is how capitalism is justifiable, no? It is certainly the only reason I support it

 

[Valerie]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

It isn't about money belonging to government, it is about a society based upon merit. Money is but a medium of recognizing merit, no?

Our society is not based on merit, it is based upon individual freedom. Our system does not merit government confiscation of private property beyond limited taxation. You are free to obtain and preserve wealth all of which is subject to taxation already. You have the ability to reach your financial goals via the merit of your own hard work and ability to make practical decisions with your time and money.

 

[Gunny]

Back to the government? Did other people's money once belong to the Government? No.

Who inherits what from whom is absolutely no one else's business... including the Government... and damned jealous, petty, greedy people.

I think you misunderstood. My point was the same as yours. If my family leaves me their estate after they have paid for it and have been taxed, then I shouldn't have to be taxed again for inheriting what they have already paid for.

What about the Gotti Estate or any "Soprano" estate? How about if the taxes weren't paid, such as they have it off-shore in tax shelters?
Wealth should be passed-on, but I support the current policy of only taxing wealth over $2.5m so that family farms and upper middle class folks aren't hurt.

Why should YOU get to draw the line?

 

[California Girl]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

My point was Cali, that anyone who has inherited money, and is subjected to a tax on that money simply because they have inherited it is more akin to a penality because the taxes have been paid on it already. I also believe that individuals should want to pay taxes out of a deep love for the nation in which they live provided, that money is spent wisely. If it's not then they have every right to question why. However, I do not believe that money that is earned anyone should assume is the Govts. to do with as they please.

I pay taxes - never bitch about it. My Dad never allows his accountant to look to lessen his tax bill. Just pays it.

Now, if we could just have a government who doesn't treat taxes as a bottomless pit of money, that would be great.

 

[Jackson]

I don't see the argument for giving anything back to the government when taxes have already been paid.

Ever witnessed Caroline Kennedy?

Can you honestly tell me she merits the wealth she has?

No, she didn't acquire that through her own , but what right does the government have by coming in and confiscating what has already been taxed? I really can't understand how anyone would support estate, inheritance taxes.

I agree with you totally. The government will try with all their might to get their grubby little hands on our money via taxing twice.

 

[Dot Com]

I like this quote:

“A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood.

Anyone know who said it?

do tell

Teddy Roosevelt

 

[Agit8r]

In a merit-based society, is their any justification for wealth being passed down generationally. And, if so, is there any limit to such justification?

Just askin'

Just a clarification: Do you believe it all belongs to the government or do you believe it belongs to the person.

my belief on the subject can be summed up in a quote of Locke's

"Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this no body has any right to but himself. The labour of his body, and the work of his hands, we may say, are properly his. Whatsoever then he removes out of the state that nature hath provided, and left it in, he hath mixed his labour with, and joined to it something that is his own, and thereby makes it his property. It being by him removed from the common state nature hath placed it in, it hath by this labour something annexed to it, that excludes the common right of other men: for this labour being the unquestionable property of the labourer, no man but he can have a right to what that is once joined to, at least where there is enough, and as good, left in common for others."

 

[California Girl]

Now why when I read this post am I suddenly seeing visions of those two young British Royals who are being wed. There's a prime example of wealth from what source? However, If someone pay's taxes on wealth , I fail to see how taxing it again somehow can be justified into being called anything but a penalty. The other issue here is this sense that money earned somehow belongs to the Govt. it does not. A person and company should however want to pay their fair share of taxes to support the nation in which we all love. The issue that comes to mind here is that when we do pay that money is spent in reckless ways and as such it is the taxpayers right to demand it be spent in a wise manner.

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

WHOAAAH! The British Royal Family got their wealth FROM TAXES

Nope.

 

[Dot Com]

Back to the government? Did other people's money once belong to the Government? No.

Who inherits what from whom is absolutely no one else's business... including the Government... and damned jealous, petty, greedy people.

I think you misunderstood. My point was the same as yours. If my family leaves me their estate after they have paid for it and have been taxed, then I shouldn't have to be taxed again for inheriting what they have already paid for.

What about the Gotti Estate or any "Soprano" estate? How about if the taxes weren't paid, such as they have it off-shore in tax shelters?
Wealth should be passed-on, but I support the current policy of only taxing wealth over $2.5m so that family farms and upper middle class folks aren't hurt.

That sounds @ right to me. How much unearned income does a child need to be comfortable?

 

[Navy1960]

Her wealth (Katherine Middleton's) comes from her family's hard work and sacrifice.

His comes from being born into the British Monarchy.... inherited money.

Either way, it's theirs, no one else has the right to take it from them.

And... the British Royal family pay taxes.

My point was Cali, that anyone who has inherited money, and is subjected to a tax on that money simply because they have inherited it is more akin to a penality because the taxes have been paid on it already. I also believe that individuals should want to pay taxes out of a deep love for the nation in which they live provided, that money is spent wisely. If it's not then they have every right to question why. However, I do not believe that money that is earned anyone should assume is the Govts. to do with as they please.

I pay taxes - never bitch about it. My Dad never allows his accountant to look to lessen his tax bill. Just pays it.

Now, if we could just have a government who doesn't treat taxes as a bottomless pit of money, that would be great.

I might add to that too Cali, and others that look at the Govt. like a giant ATM machine, be they individuals or companies. We might have something there then huh? I don't remember where I read this Cali but, I recall some company employing 100's of people do do nothing but find tax loopholes LOL. Imagine all that effort directed towards solving issues like paying down the debt. That would be really something.