Just do what Warren Buffet, Bill Gates, Obama, Clinton, Oprah, and basically all the rich people do.
Create a foundation (non-profit) in the name of your kids. They spend 1% a year for Charities and dont pay ANY tax.
Mead_and_You on
Clinton instituted it, Bush repealed it right away, then Obama brought it back. I thought it was gonna be a football the dems and reps pass between each other and you just gotta hope the president is a republican when you die, but then Trump didn’t touch it. I doubt he’s gonna do it now, so I guess it’s here to stay.
KobeGoBoom on
Inheritance taxes are not any more or less moral than any other tax. It’s a violation of your property rights either way.
[deleted] on
Let’s start with reducing government spending!
Gedgenator on
All taxes are immoral theft of property, but if I had to categorize one of them as being the worst, I’d actually argue Property taxes are (currently) the worst of them. Most taxes just steal a cut from you when money moves, but property taxes are ransomed on your property every year and are based off of what the government decides your home is worth rather than just taking a percentage of the value at purchase or sale (which they also already do anyway). Most taxes at least leave you with some of your money, but property taxes can literally take your entire home away from you just because the government decides your home is now worth more.
right-5 on
Second most immoral tax. The most immoral is the non-sales tax : the penalty imposed by the IRS for not buying health insurance, approved by the government. But yeah, inheritance taxes are wrong.
SpinozaDiego on
All taxes are to some degree theft, but I’d argue inheritance taxes are the least objectionable theft-by-taxation. Income taxes are probably the worst as you are compelled to pay more the more productive you become with your labor. Property, capital gains and sales taxes are also bad because the state is stealing based on things you acquired with the fruits of your labor. But there is nothing in an inheritance that is “earned” the same way income is earned. It’s still theft and it still sucks but I’m less offended by the theft of an unearned inheritance than I am by other forms of tax theft. ¯_(ツ)_/¯
brittleknight on
Only tax we should have is sales tax … everything else should go.
ModusPwnins on
I’m not sure how anyone can argue they’re more immoral than e.g. income tax, but okay
YourDadsUsername on
It does no good for society to have an idle parasite class perpetually handing wealth to their idle children.
pzerr on
Personally I think it is the only tax there should be. The next generation did nothing to get it.
JScrib325 on
But other people have more money than me and that’s not fair.
Mikolf on
face it you’re not reaching the 2mil per beneficiary limit.
13 Comments
Just do what Warren Buffet, Bill Gates, Obama, Clinton, Oprah, and basically all the rich people do.
Create a foundation (non-profit) in the name of your kids. They spend 1% a year for Charities and dont pay ANY tax.
Clinton instituted it, Bush repealed it right away, then Obama brought it back. I thought it was gonna be a football the dems and reps pass between each other and you just gotta hope the president is a republican when you die, but then Trump didn’t touch it. I doubt he’s gonna do it now, so I guess it’s here to stay.
Inheritance taxes are not any more or less moral than any other tax. It’s a violation of your property rights either way.
Let’s start with reducing government spending!
All taxes are immoral theft of property, but if I had to categorize one of them as being the worst, I’d actually argue Property taxes are (currently) the worst of them. Most taxes just steal a cut from you when money moves, but property taxes are ransomed on your property every year and are based off of what the government decides your home is worth rather than just taking a percentage of the value at purchase or sale (which they also already do anyway). Most taxes at least leave you with some of your money, but property taxes can literally take your entire home away from you just because the government decides your home is now worth more.
Second most immoral tax. The most immoral is the non-sales tax : the penalty imposed by the IRS for not buying health insurance, approved by the government. But yeah, inheritance taxes are wrong.
All taxes are to some degree theft, but I’d argue inheritance taxes are the least objectionable theft-by-taxation. Income taxes are probably the worst as you are compelled to pay more the more productive you become with your labor. Property, capital gains and sales taxes are also bad because the state is stealing based on things you acquired with the fruits of your labor. But there is nothing in an inheritance that is “earned” the same way income is earned. It’s still theft and it still sucks but I’m less offended by the theft of an unearned inheritance than I am by other forms of tax theft. ¯_(ツ)_/¯
Only tax we should have is sales tax … everything else should go.
I’m not sure how anyone can argue they’re more immoral than e.g. income tax, but okay
It does no good for society to have an idle parasite class perpetually handing wealth to their idle children.
Personally I think it is the only tax there should be. The next generation did nothing to get it.
But other people have more money than me and that’s not fair.
face it you’re not reaching the 2mil per beneficiary limit.