The money has been taxed. The deceased has a right to do what he so chooses with it. It's his and he earned it, no matter what Obama says. It's not the govt's, they've already taken their share.

Edit: I do think stepped up basis should be eliminated.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586679)

I think you would feel differently if you were in position to have to pay the estate tax or a family member was.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586717)

Life isn't fucking fair.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586772)

That's not what I said...

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586796)

You said a bunch of millionaires are against the estate tax.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586814)

https://www.goodreads.com/quotes/328134-socialism-never-took-root-in-america-because-the-poor-see

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586829)

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586844)

A reddit page from 2014 is the fourth result.

I'm sure you and your Hamilton classmates studied that quote intensively though.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586877)

keeping fighting it though, I'm sure you'll prove everyone wrong eventually

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586885)

lol please continue being a combative retard. It's really making my morning.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586956)

Die now please.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586862)

hehe the American dream!!

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586870)

it's not worthy of a response

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586735)

Fitting moniker

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586739)

and even hard working middle class and poors agree (white males) = poors agree with me!

The money has been taxed. = double taxation!

The deceased has a right to do what he so chooses with it = circular

It's his and he earned it, no matter what Obama says. = circular

It's not the govt's, they've already taken their share. = double taxation!

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586753)

People (besides shit libs and minorities) don't like the gov't taking too much of people's money. That's not circular.

On second thought, none of that is really circular.

You seem dumb and without a good counterargument.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586760)

Add "Low IQ" to your moniker and it'll be perfect.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586783)

You can make that case with all income. People along the line of transactions that resulted in your income, paid taxes on that money.

Also, the goal of taxation is to maximize revenue and minimize the impact to the economy. Wealthier people and people with higher incomes have much higher savings rates than poorer people. That's because the value of additional consumption for a poor person is greater (give a guy with $10k income an additional $1k and he'll spend it; give a rich guy an additional $1k and he'll save most of it). That means the tax burden should have a progressive rate structure (especially for modern economies that rely on consumer spending). Cutting the estate tax and increasing taxes on people with lower incomes to pay for it is dumb economics.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586858)

I understand everything you said. I'm not even against the idea of the estate tax completely. I just think it should be normal capital gains on the investments and get rid of the stepped up basis and estate tax. The optics are better and it's less.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586959)

Tax increases can no doubt create disincentives to work or encourage capital flight. But looking at the income and wealth gains for those in the top 5%, it doesn't look like we are anywhere near that problem with our current system of taxation.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587061)

I hate property tax.

Sales tax at 5-8% or whatever is much less.

I agree with getting rid of stepped-up basis.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586982)

Your other point about the popularity of its repeal is also bad. The fact that the majority of the country can’t understand that cutting the estate tax requires raising other taxes (such as, wait for it, the income tax, which would have been higher in the first place if the estate tax didn’t exist) is not a good argument for changing our country’s finances.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34588926)

(guy conflating "next of kin" with "kids")

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586698)

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586774)

Inside the mind of a lib ladies and gentlemen.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586787)

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34586849)

Gifts during one's life are taxable and every other form of income is taxable, with few exceptions.

Eliminating the estate tax is basically making a special rule to benefit only the extremely wealthy with the reduction in tax revenue subsidized by everyone else. How is that fair?

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587076)

This is the problem. The rich pay 99% of tax revenue. Cut it to 98.9% and it's unfair!!!

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587110)

the "special rules" are always directed AT the wealthy who already pay the lion's share of taxes in this country. a meritocracy doesn't mean punish those who maek it or were simply born lucky. there are attractive and ugly people too. should we take a hammer to the faces of the attractive ones to "level the playing field?"

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587151)

The heirs of the wealthy were born wealthy. Great. No one is saying inheritance should be outlawed, but we dont need to deviate from our general rules to treat that income as different from other forms of income in order to make them even more wealthy.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587931)

you sure about that?

and if no one is saying it, why aren't they if the goal is to level the playing field? Inheriting $10 million tax free hardly sounds like leveling the playing field to me.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34588022)

You seem incapable of actually discussing tax policy. I never said the purpose of taxing inheritance is to level the playing field. All I said was there is no good argument to treat that form of unearned income as fundamentally different than other forms of unearned income, which certainly is what elimination of the estate tax does.

Compare it to the treatment of inter vivos gifts and treasure trove.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34588089)

are other forms of unearned income tax free up to $10 million?

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34588199)

there are differences in the way in which unearned income is taxed. E.g. qualified dividends are taxed differently than regular dividends.

I agree with you though that all inheritance should be taxed or at the very least the threshold should be a lot lower than $10 million.

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34588234)

"Well,I sure as shit don't want to be perceived as a loser on an anonymous tweetblog, so I best be changing my stance."

(http://www.autoadmit.com/thread.php?thread_id=3783225&forum_id=2#34587177)