They could get the money back into the economy by taxing the inheritance. Then they wouldn't have to worry about wasting goods and services on some good-for-nothing lazy rich deadbeat.
You don't put money back into the economy by giving it to government. They'll just waste it.
The government can just give it to people in the form of tax cuts to the middle class. You're grasping at straws.
They can, but it should be taxed like regular income at the very least.
Why? That money was already taxed when it was created. Do you understand the term INCOME TAX? It means tax on income. Inheritance is not income.
If you GET money from inheritance, it is income, just exempted from tax. Don't be an idiot.
Why can't everyone else pull themselves up by their bootstraps and "work" by investing their spare $10-20 million they have laying around?
Well what do you think they do with it, have it in between their mattress and pull some out when they need it?
You mean poor people? They don't have it.
The reality is that inheriting something is not "work."
Who said it was?
Someone said Trump got rich by working.
income? no it was already earned. Next you'll tax allowances.....omg.... get over, people earn their money and they can do what they want with it (with legality being the only point)
Money becomes income when it changes hands. The fact that the person giving the money "earned" it or not does not make it not income.
From the IRS:
Generally, you include an amount in gross income for the tax year in which
all events that fix your right to receive the income have occurred and you can determine the amount with reasonable accuracy. Under this rule, you report an amount in your gross income on the
earliest of the following dates.
- When you receive payment.
- When the income amount is due to you.
- When you earn the income.
- When title passes.
As you can see, earning is just one way of getting income. The passing of title is also enough. You knuckle-dragging apes should be happy I'm giving you some life lessons for free.
Title? really was he a Duke? I don't recall Donald Trump's peerage.
You're such a dumbfuck.....income is not inheritance, no matter how you commies want to spin it.....income is earned money through working. In fact the democrats put in an inheritance tax(if it was income why have this tax?), which we correctly repealed
Sorry giving your son a few bucks does not subject it to tax nor should it. Same with donations and giving.....I DONATE(aka give with no strings) to a charity it should not be counted as income.......
They don't, no shit, maybe because they work to get it, then leave it to their kids......what a concept!
I did, his dad loaned him some cash, he worked to increase his money and did even better than Clinton did (funny I never heard you guys complain about her cattle futures...it was all above board to you lefties!)!!!
Why do stupid people bring up Clinton when their arguments fall apart? Did I ever say I supported Hillary Clinton?