Dem Suggests Kids Should Be Drug-Tested Before They Can Inherit From Their Parents

[Delta4Embassy]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Every dollar is taxed exactly one time. As soon as it's taxed, it ceases to be a dollar.

Yes, thanks for the refresher in temporal mechanics.

 

[BlindBoo]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

Are if they're in someone's possession. Was taxed as income, taxed when things were purchased etc. Taxing it an additional time is unjust. Legal, but unjust.

Let say dad purchased some stocks for $100,000 and at the time of his death it was worth 10 million dollars. $9,900,000 of that asset has not been taxed. Had dad cash that in before he died he would have had to pay capital gains tax on all of it. With the Estate Tax the inheritor would pay tax on about 4.5 million or so.

 

[SmarterThanTheAverageBear]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

Are if they're in someone's possession. Was taxed as income, taxed when things were purchased etc. Taxing it an additional time is unjust. Legal, but unjust.

Let say dad purchased some stocks for $100,000 and at the time of his death it was worth 10 million dollars. $9,900,000 of that asset has not been taxed. Had dad cash that in before he died he would have had to pay capital gains tax on all of it. With the Estate Tax the inheritor would pay tax on about 4.5 million or so.

Actually , dad would have been paying tax on the dividends received from those stocks all along. So yes, he did pay taxes.

 

[BlindBoo]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

How so?
There's sales tax on items purchased.
There's capital gains tax on dividends earned.
Income tax on the money that was worked for.
Yearly property taxes on the home.

And, just because I die, the government gets to take 40% off the top, before my family gets a dime?
How, jillian is that not a "death tax"?

It's not off the top, it's only after a 5.43 million dollar exemption. That's only the feds, each state has it own "Death tax"

 

[BlindBoo]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

Are if they're in someone's possession. Was taxed as income, taxed when things were purchased etc. Taxing it an additional time is unjust. Legal, but unjust.

Let say dad purchased some stocks for $100,000 and at the time of his death it was worth 10 million dollars. $9,900,000 of that asset has not been taxed. Had dad cash that in before he died he would have had to pay capital gains tax on all of it. With the Estate Tax the inheritor would pay tax on about 4.5 million or so.

Actually , dad would have been paying tax on the dividends received from those stocks all along. So yes, he did pay taxes.

Dividends paid to an individual are taxed as income. The capital gains comes from selling the stock. So he did not pay taxes on the value of the stock.

 

[Missourian]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

Are if they're in someone's possession. Was taxed as income, taxed when things were purchased etc. Taxing it an additional time is unjust. Legal, but unjust.

Let say dad purchased some stocks for $100,000 and at the time of his death it was worth 10 million dollars. $9,900,000 of that asset has not been taxed. Had dad cash that in before he died he would have had to pay capital gains tax on all of it. With the Estate Tax the inheritor would pay tax on about 4.5 million or so.

Let's say there is no death tax, and the inheritor pays the capital gains over the original $100,000...just like the father would have.

Shocking isn't it, how simply that crisis was averted without a death tax.

 

[BlindBoo]

Currently the exemption is 5.43 million dollars. Then the Estate Tax is 40% of what remains.

She didn't call on the inheritors to be drug tested.

It's legalized theft. They paid taxes on that money already. Simply moving it from one hand to another shouldn't justify taxing the same dollar twice. Of course, our tax system taxes the same dollar much more than twice so it's probably more accurate to say 'tax it again.'

Many of the assets of large estates subject to the estate tax have not been taxed already.

Are if they're in someone's possession. Was taxed as income, taxed when things were purchased etc. Taxing it an additional time is unjust. Legal, but unjust.

Let say dad purchased some stocks for $100,000 and at the time of his death it was worth 10 million dollars. $9,900,000 of that asset has not been taxed. Had dad cash that in before he died he would have had to pay capital gains tax on all of it. With the Estate Tax the inheritor would pay tax on about 4.5 million or so.

Let's say there is no death tax, and the inheritor pays the capital gains over the original $100,000...just like the father would have.

Shocking isn't it, how simply that crisis was averted without a death tax.

There is no death tax. Why? Because everybody dies but not everybody has an estate worth over 5.5 million dollars.

 

[Missouri_Mike]

Thank you Linda Sanchez for proving yet again the idiocy of extremists.

Democratic Rep. Linda Sanchez offered a baffling defense of the death tax Wednesday during a hearing examining the sometimes unbearable burden it places on family farms and businesses.

People receiving food stamps have to pass drug tests or meet work requirements to receive taxpayer dollars, Sanchez reasoned, so it’s only fair that those “lucky” enough to inherit wealth should have to do something to earn it or, in this case, pay a tax.

“What work requirements are there to inherit up to $10 million tax free?” she asked a witness, rhetorically.

“Why is that [a single mother] should be drug tested, which is an unrelated requirement to receive food assistance, to make sure that her family has enough to eat,” she asked. “And people who are lucky enough to inherit millions of dollars are literally required to do nothing to get the federal tax benefit with their inheritance?”

Well, gee, let's think about that. Maybe because the inheritance money already belongs to the family in the first place? Just a thought. Not to mention that such a policy would be a huge infringement on property rights *and* personal liberty all at once, but extreme leftists don't care about those sacred American ideals.

I imagine she's being facetious and laughing at the "conservatives" that think drug tests for welfare recipients are a-okay.

It is ok. My money is taken for welfare payments and they should be drug tested. Someone's inheritance isn't being paid by me so I don't give a crap what they do.

 

[Dont Taz Me Bro]

there's no such thing as a "death tax".

rightwing propaganda is funny.

Of course there is, but you already knew that. Denying its existing is left wing propaganda and I find nothing funny about it.

 

[BlueGin]

Makes perfect sense if the #1 objective of those in power is to steal money from the people and redirect it to themselves.

Isn't that always their objective?