Mitt Romney and the Estate Tax.
The estate tax is good.
Background
The federal estate-tax rate is 45% on every dollar above a $1.5 million exemption. In many states the combined federal/state tax on dying rises above 50%. This means that the government can take a larger share of the business, home and savings that a citizen builds up over a lifetime than would go to his heirs.
People who don't like the estate tax call it the death tax, because it sounds kind of morbid taking money from a dead guy/girl.
People who like the estate tax, call it the estate tax, because none of us like the rich.
Reasons to agree
- The estate tax is a great way to ensure that those in the aristocracy, and that end up ruling over us, deserve to rule over us. There is always going to be an aristocracy, but I want it to be those who really are better than us, not those who’s parents were better than our parents.
- Thomas Paine supported the estate tax.
- Andrew Carnegie supported the estate tax.
- Theodore Roosevelt supported the estate tax.
- Warren Buffett supports the estate tax.
- The fact that Paris Hilton is a billionaire, proves that our society is unfair.
- It is not healthy for a country to have a group of people that never have to work a day in their lives.
- Most people would rather get taxed after they are dead.
- Even with the estate tax parents can pass billions of dollars onto their children.
- Even with the estate tax parents can pass the first 1.5 million dollars onto their kids tax free.
- Parents can still help their children without having to let parents hand billions to their kids tax free.
- Work is good.
- If it was bad for welfare-moms to be idle, then it is bad for estate-kids to be idle.
- Too many Americans live with a sense of entitlement because of their wealth.
Reasons to disagree
- The estate tax breaks the bonds between generations.
- It is wrong to tax money twice.
- The money the government would take when collecting the estate taxed was already taxed when the parents earned the money.
- Maybe the kids don't deserve the money, but governments don't have the right to just step in and take it.
- Spreading the money equally between citizens is called socialism.
- Russia eliminated its inheritance tax in 2005.
- Sweden, the birthplace of the modern-day welfare state, eliminated its estate tax in 2005.
- The estate tax tax is unjust.
- The estate tax is economically counterproductive.
- Argentina does not have an estate tax.
- Australia does not have an estate tax.
- Canada does not have an estate tax.
- Mexico does not have an estate tax.
- Switzerland does not have an estate tax.
- India does not have an estate tax.
- The US has the largest death tax in the industrialized world.
- The third policy plank of Marx’s Communist Manifesto is taxation of all inheritance.
- The more power you give the government, the more power it will take.
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