Quote:
Originally posted by sebastian_dangerfield
It's quite elemenary, and I'm baffled you can't comprehend the other side's morally and logically justified position.
Say your parent works hard his or her whole life, hard enough to be lucky enough to amass a fortune of, say $6mil. That $6mil has been taxed, at one rate or another, along the way, as that person made it. Now, despite those taxes, that person has saved that money, which is a damned hard thing to do (don't give me some shit about how 'its all gravy once you get the first million; it's just as easy to lose the first million as it is to compound it). Now, to add to all the hurdles that person faced his or her whole life to amass that fortune, hurdles he or she wants his kids never to have to endure, the govt - our goddamned useless fucking govt - is going to step in and demand a fat slice of everything over $3mil? That's fair? That "fairness" you champion is exactly why this country is so fucked up. Its exactly why this shithole "entitlement" cesspool I work in can't keep any business within its borders. "Gimme gimme gimme." That's all you fucking here in these parts. As long as pathetic democrats keep pandering to that degenerate base, this country's just going to keep spinning its wheels and hand-wringing about "what to do with the people who can't care for themselves." Maybe, ya think just maybe, if ya stopped taxing and regulating the piss out of everything, people might be a little more entrereneurial? Maybe people could start businesses of consequence without having to grab gobs of VC to pay the ridiculous costs of workers comp, insurance out the ass to keep trial lawyers from taking their homes, and shakedown money for local govt shysters who enforce their little bridge tolls every time you try to make a buck? Ya think maybe that'd work? Maybe the poor you care so much about might have better jobs?
I agree with you that its gross to see people like Paris Hilton get massive chunks of change, but people with between 5-10 million dollars shouldn't have to hire armies of fucking lawyers to structure their estates. And they certainly shouldn't suffer the insult of having their money retaxed and given to the worst run organization in the nation, which would waste it in the most offensive ways imaginable. The cutoff, if we must have one, should be high, very fucking high.
I'd burn my money before I'd see it given to the govt.
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Under today's law, in most circumstances, very little of that $6 mill has ever been subject to tax, because it is unrealized gain on investments.
And, if the rich parent were to give that $6 mill to the kid while alive, the rich parent would face a hefty gift tax.
And, if the rich parent were to hire the kid to work in the parent's company, the kid would be taxed on the wages.
Why should income, not earned by the individual receiving it, not be taxed?
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