Estate Taxes

[Rationalist]

This is an issue that is likely to come up at some point during the election cycle. Admittedly, it is one area where I'm probably in closer agreement with the President. Enormous wealth passing from the hands that worked for it into the hands that did not ultimately leads to the establishment of aristocracy. It also leads to rich assholes dumping millions of dollars they didn't even work for into the political process, or they end up being "socialites" like Paris Hilton and Kim Kardashian.

For these reasons, I'm all for a 60 - 70% tax on assets exceeding $10 million.

What are other arguments for/against estate taxation?

 

[USFREEDOM911]

This is an issue that is likely to come up at some point during the election cycle. Admittedly, it is one area where I'm probably in closer agreement with the President. Enormous wealth passing from the hands that worked for it into the hands that did not ultimately leads to the establishment of aristocracy. It also leads to rich assholes dumping millions of dollars they didn't even work for into the political process, or they end up being "socialites" like Paris Hilton and Kim Kardashian.

For these reasons, I'm all for a 60 - 70% tax on assets exceeding $10 million.

What are other arguments for/against estate taxation?

The tax on those earnings have already been paid.
If you're against estate taxes; then push for every inheritance or item passed on, after death, to be retaxed.

 

[Billy the Great Khan]

This is an issue that is likely to come up at some point during the election cycle. Admittedly, it is one area where I'm probably in closer agreement with the President. Enormous wealth passing from the hands that worked for it into the hands that did not ultimately leads to the establishment of aristocracy. It also leads to rich assholes dumping millions of dollars they didn't even work for into the political process, or they end up being "socialites" like Paris Hilton and Kim Kardashian.

For these reasons, I'm all for a 60 - 70% tax on assets exceeding $10 million.

What are other arguments for/against estate taxation?

Well, why should it be 10 million? If you're going to tax, you should tax everyone. Second, it's easy to get around that tax anyways. It's called a trust.

 

[Airstrip One]

Granted, we have seen how badly New England was decimated by the Greatest Generation leaving giant trust funds for their moronic Boomer children to play with, but I am still against the death tax in principle. Once again, it's not my money.

 

[Mott the Hoople]

This is an issue that is likely to come up at some point during the election cycle. Admittedly, it is one area where I'm probably in closer agreement with the President. Enormous wealth passing from the hands that worked for it into the hands that did not ultimately leads to the establishment of aristocracy. It also leads to rich assholes dumping millions of dollars they didn't even work for into the political process, or they end up being "socialites" like Paris Hilton and Kim Kardashian.

For these reasons, I'm all for a 60 - 70% tax on assets exceeding $10 million.

What are other arguments for/against estate taxation?

You are correct. Estate taxes are designed to prevent the concentration of wealth into the hands of a few families who do not use it productively.

 

[Dixie - In Memoriam]

I've never understood how this came to be the law in the first place. At what point did someone figure out, we can disregard Constitutional rights if you are dead? We have this protection against the government taking our property when we are living, but after death, they can take whatever they please? It makes no rational sense.

Here's what I think... If someone dies who has wealth, and they don't have a will and don't have heirs... THEN their wealth should go to the state they live in. Otherwise, people should be able to leave what they have to their family and loved ones, and the Federal government shouldn't lay their stinking hands on a dime of it, in ANY circumstance.

Stop MINDLESSLY applying your stereotype examples of undeserving wealthy punks who act irresponsibly. Not everyone fits your mold. Some people inherit a small business or enterprise, which has belonged to the family for years and years... Why should 60% of that be liquidated and given to the government instead of being passed to the next generation? Some families are farmers, they've been farming for generations, they have a farm they own... when they die, why should 60% of it be liquidated and turned over to the government, instead of being passed on to the next generation?

You've tainted your thinking with a prejudiced stereotype. You want to believe that every person who dies wealthy, leaves their fortune to someone like Paris Hilton, and you have disdain for the flamboyant lifestyle, while so many suffer... So your idea is to STEAL that money from them to help others. But think about it... which benefits the economy more? Paris Hilton on a $100k shopping spree on Rodeo Drive, or a $100k earmark to study feasibility of reptile tunnels under the highway?

And for the record here... When Conrad Hilton died, he left virtually NOTHING to his family. Paris Hilton's wealth, for the most part, is self-made. Granted, she had doors opened for her because of her name, but she didn't inherit some massive fortune.

 

[Dixie - In Memoriam]

designed to prevent the concentration of wealth into the hands of a few families who do not use it productively.

Taken from their hands and put in the hands of government who does not use it productively. What is your point???