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[Wank McBumsky]

Originally posted by taxwonk
What right do the kids have to the money? They didn't work for it. They don't have some inherent need for it that exceeds anyone else's. What's the moral basis? They got a better slot in the genetic lottery?

I don't accept the notion that people have an inherent right to determine where their wealth will go on their death without paying some tax for the privilege of doing so.

What's more, I am further opposed to eliminating the tax on the transfer of wealth if it increases the incidence of tax on earned income. I think that's inherently unfair and regressive.It's been that way as long as there has been a right to bequeath. What logical basis is there for not imposing the transfer tax? People are taxed on the income they earn, even though soemoen who earned it before them was taxed on it.


Finally, as a practical matter, I have seen very few instances of people who inherited wealth using it to create jobs, good, and economic growth, relative to the number of heirs who use it to buy second homes, million dollar condos on the Gold Coast, and $500 Cavalli jeans or $750 Yves St. Laurent sweats, depending on their taste and their age.

Spoeken like a true socialist. Yuou know, Canada is just across the lake, although the girls of windsor might be more than you can handle.