MUH INHERITANCE TAX

MUH INHERITANCE TAX

If you support any taxes, you're a communist

Tax the corporations not the people.

Tax nobody

Inheritance taxes are straight up theft, more so than regular taxes.

Shrempft betrays us yet again.

Or you understand that there's a social contract between government and citizenry for the general welfare of the people as it states in plain words in the constitution...

Can I get a quick rundown

I'm actually with this memester to a certain extent. Why give tax cuts and subsidies to the most profitable businesses in history? Why support oligarchy with the people's money?

Canada did not have one single tax until the First World War and it's survived hundreds of years without it. It's only when we enacted taxes that our country went into decline

t. Rothschild

Fucking this. My dad left my mom well off, and intended a lot of it to pass on to us. When my mom died, the Feds fucking RAPED her estate. 40%? Fuck you. That's a higher rate than my dad paid on it when he earned it. Death taxes are one of the most immoral thing the IRS does. Thank god 401ks are left outside of the estate - and I know politicians have rumbled about changing that.
If you have kids, set up a family trust and sit down with a good trust lawyer to protect your estate from the fucking vultures in DC.

What's the inheritance tax in Canada? I'm worried now the governments gonna steal my money and use it to pay muhammed

getting rid of the estate tax helps local farmers and hurts corporate farms

You realize there's more in common with all of us than sets us apart. The insignificant differences are made up by the fake 2D reality we see through screens.

Wow, apparently we have no inheritance tax and get this, Pierre Trudeau of all people repealed this.

The estate tax doesn't even kick in until AFTER the first 5 million dollars of your estate, and after that it's about 35%.

It doesn't even effect 99.5% of people, has never killed anybody, and is there to prevent a class of idle rich sucking up the entire countries GDP to pay interest on people's fortunes who never even did anything.

Its just math, without an estate tax, countries fall apart.

Repeal most taxes. After getting rid of classes, and the ability to gain unearned income.

Businesses pay and employ people. What's the point of a business if no one is making a living from it. Corporate taxes literally lower wages for everyone abd stifle economic activity. Low corporate tax means more business which means more money for everyone. This money can then be taxed at a high rate when executives try to pay themselves out.

If the net worth isn't about 8 million dollars for a married couple you have nothing to worry about.

Not unless the farm is worth about 5 million dollars.

My dad owns a company and seems to think 20% is a good amount. Current rate is too high though.

Australia doesn't have any inheritance tax

Okay. So after I make a certain amount of money, grave robbery becomes justified?

Seems morally and logically sound to me. /s

Not saying we shouldnt have any corporate tax. I am saying that raising it won't solve anything. It's essentially a tax on work and economic activity. Why would anyone want to further inhibit those things.

The whole point is that if you make more you can pay more. It's not a moral argument at all, it's a way to fund state spending and services. More of a compromise to live in a well functioning country.

I'm personally against it since it'll affect me. I'm just point it that it's not going affect 99% of Americans.

True.

0.2% maybe.

>my spawn deserve a leg up, because reasons
So much for meritocracy.

What's the point of working if yoy leave nothing to your children? Part of why you work is to make sure your loved ones don't have to struggle.

Why shouldn't your family get the things they worked for?

Trump is a perfect example of the fact that inheritance tax should be 100% no one ever know his name if it was not for all the money he got from dad

"Im entitled to the fruits of your labor after you die because."

Classic commie logic.

It's literally just poorfags who want to take the inherited wealth of others.

>they
You mean "you" worked for.

A system without a 100% inheritance tax is not based on merit.

:^)

>be nigger
>never make a brighter future for children
>continue ad infinitum for all generations
Stop reproducing, that way your children will finally not be disappointed

No, I mean they, a family is a unit, mother, father, son, daughter

So the income tax, capital gains tax, property tax. and other taxes people pay aren't already enough? Maybe if we had smaller government one wouldn't have to steal money from the children of the dead to fund these programs.

I don't even have any assets, I just think it's plain wrong that the country takes a cut any time money changes hands, which is why the elites are slowly moving us towards a cashless society.

Yeah and if George Washington wasn't born to wealthy landowners he would've never been a general. Hypotheticals are useless.

What matters is the reason why people work. If you have a family you work to take care of your loved ones. Nothing wrong with giving them your money.

Did they start outsources shills? The engrish is comical.

wtf I love feudalism now

Do you have a crest for your dynastic aspirations?

>mfw all the jealous commie fags ITT

You do realize that this only affect like .01% of Americans

sorry went to school in a republican state

Maybe if you grew up with a family that loved you or had one of your own you would understand. But like most commies you hate everything that is good and natural and traditional. because you hate the world and wish it were different. But its not a flaw of society. It's an innate flaw within the heart of the commie.

More money foe businesses means more investment in physical capital (machines, trucks, other equipment etc.) which means greater productivity, which means greater output which means higher wages and standards of living. You stupid fuck commies need to take a basic intro economics class, your shit ideology will dissapear overnight if you read a book for once in your life.

...

Feudalism sucked and dynasties get shot.

CHEKA'em, Rothschild wannabe.

Looks like pol is realize they are just tools of the billionare elite.

The people work for the corporations you dingus.

You have to be given a coat of arms by the heraldry authority of your nation, in his case australias heraldry authority. He wouldn't make his own one would be given to him based on his family history, career, contributions etc.

The super rich don't really pay an income tax. It's mostly capital gains, which is pretty low. Property taxes vary based on where you live.

Here's a tip, most people don't even pay the inheritance tax. There are ways to get around it by using "foundations" like the Bill and Melinda Gates Foundation.

Doing that removes much of the incentive of even working. What's the point if your children are gonna struggle just because you died? I'd probably kill myself rather thab work for an ultimately pointless purpose.

Feudalism and communism are two sides of the same coins. It is called a planned economy. And every single time its been tried it destroys the middle class and benefits the elite. This includes America's highly regulated corporate banking economy that obama put on steroids.

I know.

Inheritance tax is a small step in an attempt to curb runaway wealth in a capitalist system and any sane person should support the concept. But unfortunately there are too many loopholes for it to do its job as is

You mean that Bill Clinton put on steroids.

SO YOU TAX THE CORPORATIONS. These faggots hold all their money overseas and don't pay tax.

Wouldn't it be fun if this ass trolled his way to the presidency just so he could rid us of the inheritance tax? All the rest is just bullshit?

>Doing that removes much of the incentive of even working. What's the point if your children are gonna struggle just because you died?
Unless you live under a commie government, which has a vested interest in you both having kids above replacement level, and giving those kids opportunity for education, and guarantees them employment, and housing to have more kids, and so on. *sniff* In which case, you support the state, which supports your family.

But I'm mostly shitposting about capitalism cheerleaders both pretending it is a system based on merit, and having an aneurysm if anyone suggested that a man and a woman fulfilling their biological function isn't impressive, or meritorious.

Taxes on corporations are taxes on consumers. Unless you want the corporation to not be profitable and thus go out of business, ending with zero tax revenue.

CORPORATIONS DONT PAY ANY TAX ON MONEY OVERSEAS YOU FUCKING RETARD. Fuck you.

MY SPECIFIC BRAND OF TAX CUTS HAS NEVER BEEN TRIED

...

Yeah ideally everyone would be guaranteed a nice house, great job, top tier education, and the like, but that's not really feasible. I certainly wouldn't trust some souless state to guarantee that.

>that's not really feasible
According to who? Propaganda funded by corporations? The bought and paid for government officials that question where the money for universal healthcare will come from, but the moment the military is concerned they suddenly come up with hundreds of billions of dollars? We had the tools for space colonization and exploration for decades. We are more capable than you think. You just need to eliminate the obstruction that capitalism and its champions.

i support taxing the jews

Kikes shouldn't even live in this country

Which Clinton deregulated and which George W let run rampant.

estate tax isn't the same as inheritance tax. There is a separate tax for liquid assets that are non-land related.

But the rich do still pay money out, it's not like they can hoard every single penny; they still have to pay for their human needs just like everyone else, they presumably have to pay their employees which is taxed....They have a lot of money so even the 10% or so of capital gains they'd have to pay is still much more in one transaction than the average person will pay in federal income tax over their entire lives.

The point is all these taxes are theft to begin with, but the inheritance tax is a special sort of theft because that money has already been taxed. I may not be rich now and it's likely that I will never be rich, but in the event that I get off my lazy ass and do something I'd like for my heirs to receive what I bequeath them in full instead of the government taking its pound of flesh.

According to my own reasoning and human nature. Even in the communist Soviet Union government officials favored their own family members for cushy jobs and perks. I don't see how a communist government would be immune for human nature.

And that's not even counting the fact removing compensation pretty much destroys the will to work for most people.

Healthcare is more complicated then "oh the military has money why can't healthcare?" considering that even now most government spending is on healthacre and social security. You could gut the military and it still wouldn't be enough for universal healthcare, although I do agree it should be implemented in some form since the current system is just terrible.

Which wouldn't be a very big farm at 7,000-10,000 an acer. Slightly bigger than average, but nut huge.

Sure thing Leon, let's demolish our economic system for one that can't even last a decade without genociding tens of millions of people. Capitalism is flawed but your shit system is significantly worse because no matter how you argue it you can't implement Marxist ideas in the way he describes it because humans don't work that way.

don't remember signing any contract.

have heard of folks getting the stick for trying to nullify that contract though.

Yeah they do pay more total because they make more of course, but what matters is percentage wise. And for a lot of people is less than people that make like 100k percentage wise.

You may think it's theft, but at least some taxation is needed to keep society functioning desu.

I mostly agree about the estate tax though.

Can you describe how it works for me?

Depends where, but that's pretty big. The average farm is less than 1000 acres.

Actually my bad. It's way less. These farms are the ones owned by conglomerates. The average price per acre is also about 4k.

One could argue that our government doesn't really need taxes to function since the Reserve can just print money without abandon anyways, but keep in mind that before 1913 Americans didn't even pay a constant income tax and for the most part only had to pay income taxes during wartime, and even then in some cases you were only taxed if you made over a certain amount.

But if it was just one tax I wouldn't get too up in arms about it, but there are people in the middle class paying out half their income in taxes and other mandatory fees. This is split between the fed income, state income, Social Security, Medicaid, and then of course on top of that is the now mandatory health insurance bill, car insurance is mandatory in most states so that may as well be a tax although it's going to private companies, then you have excise tax on the car even if you own it outright and then if you own a house you have to pay taxes on what you already supposedly own, even if you also own the land the house is built on!

Not to mention the sales tax that everyone pays which is between 5-10% per transaction in states that have it.

It changes, but in Ohio last I checked it a few years ago it was 7-8 in my region, and in Iowa (where my dad inherited 80 acers out of 320) it was over 10k. But that was land my grandfather bought after one of his 'good' years, and has 12ft of buffalo shit top soil on it.

you don't understand how governing works

they don't kick in until $5M. nearly no one pays it.

So all of this is kind of convoluted because it also changes state to state.

But lets say Bob dies. He has three kids. Lets say his wife is dead, just to make it easy. His kids are Sally, Joe, and Timmy.
Bob dies and leaves 250k dollars worth of land (a farm) and some money in the bank. Because this is below our threshold of Estate tax, nothing is withheld (also because, he is dead, and taxing the dead is kind of hard.)
However, estate tax comes into play if he left behind over 1 million (I believe that is the cost) of TANGIBLE land asset properties which if you start looking at the cost of some properties in LA, or maybe the massive assets of some farms, or yes, even Trumps family owning Hotels, it might be easier to imagine how someone could easily inherit 1 million dollars worth of land and not even know that it was worth one million. Keep in mind land values also change year to year, and your shitty spit of land might not be worth anything now, but might be worth something in twenty years.

Taxing starts when it goes to Sally and Timmy.
money and it goes to Sally and Timmy in a 50-50 split. This is where inheritance tax comes into play, which is dependent upon which state they live in. They may depending where they live, pay as much as a 50% tax upon whatever they get, making them unable to perhaps keep the property afterwards.
This is putting it really, really simple. There are some stipulations as to how this is taxed depending on the blood relative. IE, maybe our Bob died but there was only a cousin leftover to inherit, he would have completely different tax stipulations depending on his relation to Bob.
To make matters worse, this shit changes year to year. Every year depending on who is in charge and how the economy is doing, changes will be made to these taxes.

of note is some kids actually being thrown off their land after their parents die because they are unable to shoulder the tax burden, so this example isnt too far from reality.

This.

>all the haters are russian mob shills paid for by the John Birch Koch fuckers

when will some people understand that the total tax revenue won‘t be reduced. it‘ll be shifted around, that‘s all.

I forgot to cut out Joe because I ran out of space, I was going to use him as someone who walked away from the property in order to avoid tax, which also has some interesting things that happen, but whatever.