No true, The Waltons did indeed inherit billions. More people do all of the time. People who create nothing and have earned nothing and add nothing to American productivity end up being the influential ones. I'll never understand how someone who works for a living would support the tax policies of the republicans. They want to eliminate inheritance taxes so a that a few extremely rich families can dominate for generations. Working people, even successful white collar workers, are rarely worth enough for inheritance taxes to even kick in (about $1.2 million). I think the lower limit should be raised over time to about 3 million, but over that stiff inheritance taxes should be in effect. Your daddy should be able to leave you rich . . . but not filthy rich. They also want to be done with capital gains taxes. Now this is one tax break that many of us get a little from, but people who get most of their money from owning stock (multi-millionaires) get a huge break. Again the majority of us save a few hundred dollars while the super-rich (who can afford taxes) save millions. You also hear them try to reduce income taxes and replace it with sales taxes. Again, working people pay a much higher percentage of their income in sales taxes. A millionaire uses about the same amount of bread and gasoline as a working man. Luxury items like yachts rate a high tax, but Republicans have their eye on that, too. And on Social Security taxes and Medicare. They spend at a much higher rate than democratic administrations, but they don't want to pay for anything.
if you work hard and make billions, isnt it your right to give it it to your children? it is your money right? i dont want my government taking your money. you earned it, so i will let you give it to your kids. after all, it isnt my money, it is yours. who are you tell people how rich they can be?
I agree with the inheritance tax and the capital gains tax (to an extent). Inheritance tax because I believe that inherited wealth creates idiots and worthless people. If you don't work for your money, you've got no reason to do anything with your life. Further & further generations get more & more worthless. Capital gains tax because its income, income needs to be taxed if we're going to have taxes. I don't agree with everything the Republicans want to do. The republicans aren't trying to screw the poor but want to help the rich more than I'd like. Billionares don't need tax breaks. But drains on society don't need to be supported by the government.
no reason to do anything except buy things and create jobs by purchasing mansions and yachts that employ lots and lots of people. besides we are totally unjustified to take their money, regardless of what they do with it. poor people do not start employ people, the rich do. take away their money, and less people work for them. even if a guy inherits 10 billion dollars and plans to bury it in the ground and smoke pot every day on his couch, it doesnt justify your taking it. people who inherit money are not supported by their government, they are supported by their rich families.. you want them to support you by paying more than their share. again, the government is not supporting them, THEY are supporting US by paying most of the bills. they are not drains on society, but rather rich people who buy things, which spurs the economy. taking their money hurts the economy, because it removes the cash from the free market and hurts everyone terribly. it is terribly tyrannical of people to want band together and take money from the rich. only a true scoundrel wants to punish the rich.
By "But drains on society don't need to be supported by the government. " I just meant to point out that even though I don't completely agree with Republicans, I'm not a democrat. I wasn't saying inherited wealth goodie-goods are drains on society. According to you, nobody deserves to have their money taken ever. Unfortunetly, the government needs funding and taxes are something that aren't going anywhere. All I'm saying is that these seem like ways of amassing lots of money through taxes for the government that could mean taking less from the average joe. I don't like them per say, but think they are better alternatives to high income taxes.
i dont think that. i understand the anarcho-capitalists who think that way, and i think we need to swing our policy a lot close to their side than where we are currently. i understand that the government has to be funded. i also think it is terrible to tax people unfairly, and i think our current policy is incredibly unfair to the rich. a flat tax would be fair, as would a national sales tax. as it stands, the rich already pay virtually all our bills. it hurts the economy to tax the people. we should do the absolute smallest amount possible. that means we dont take people's inheritance from them because we can. it is not ours, it is theirs. they earned it. if we are not taking the inheritance from the poor, we should not take it from the rich. it simply is not fair. we all live in america, we should pay equally.
Red socialism doesn't work either. If you over tax the rich, they just move. Sales tax does work, the rich spend more of their dollars on pricey toys. Taxes on a Lexus, Rolls, Ferrai, BMW or Hummer would be more than the B flat Chevy or Ford. I would love to see the inheirentance tax done away with. Capital gains too. and what exactly would the rich dominate? the goal post? what? Aren't you free to earn whatever you can now? Can't you go out and buy whatever you like? or are they holding it away from you? what are rich people preventing YOU RED from doing NOW that you could do if they all gave their money to the poor? answer that one please. there are a couple of local Millionaires in this town that go to our church and they employee a BUNCH of people. Without them the economy in this small town would suffer big time. What really hurt us was NAFTA, ( Rich folks tend to think so too) thats the single biggest problem in the US. YOU see wealthy people need a strong manufacturing base too. You want to grip at Republicans and Democrats? there's you an axe to grind, NAFTA is ruining America. We don't manufacture a dahm thing anymore. :shock:
Most of the super rich like Gates are in favor of the inheritance tax and are advocates for estate planning.
It is your right to leave much of it to your children. My point is that the children have no automatic right to hundreds of millions of instant income that they haven't earned without paying some big taxes on it. What a lame comment. It's my opinion, Einstein. I'm telling you how much I think they should be taxed and I gave you my reasons.
