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Death Tax Relief for America's Farmers. All 50 of them. The rest? Bonus!
Quote:
Originally posted by sgtclub
I never said taxed as income. For most people, the largest asset in an estate is a home, which has been taxed at the time of purchase. But if we are going to treat disposition by inheritance like every other transfer of property, then I guess some sort of tax on transfer is appropriate. Query though, why we don't tax the recipient based on value of the property at the time it is acquired. That would seem to be consistent with Ty's (not Wonk's) theory for the tax in the first place.
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I'm not sure I had a theory, and certainly I would hesitate to say anything different from my elder and better, Wonk.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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