Multiple taxation shouldn't exist anyway, but the inheritance tax is one of the worst taxes that can be paid. Yes, the government routinely takes several little percents off of every transaction, but with inheritance we're not talking little percents, we're talking lopping off huge chunks. Would you buy a $30,000 car if you had to write a check to the federal government for $10,000 in addition to what you currently have to pay, just because you bought a car? How about taxing Christmas presents? (I mean all Christmas presents, I'm not talking about the gift tax). For instance, let's throw in a 5% tax on all Barbie dolls this Christmas. By the way, that would be payable by your son or daughter. I'm sure the government wouldn't mind if you wrote the check, though.
Ben
Oh, I see. Just because I've worked on this farm for 20 years, out in the field, on the tractor, in the shop, without what would be considered adequate compensation doesn't actually mean I've done anything that should allow me to continue running my family's farm? Just because I've helped pay for a lot of it, just because I've worked my butt off for it, doesn't mean I should actually have any claim on keeping the farm intact and operating.
Got it.
Ben
You're right, I *don't* want to have to hire legal counsel in order to keep what's mine! Tell you what, let's apply the same system to promotions in a more tradition workplace environment. Before you can be promoted to a new position, you have to pay 1/3 of the annual salary to the company! Sounds good to me! Why, just get a lawyer...a lawyer can fix that right up for you!
Ben
Contrary to what the uninformed of the world are trying to claim, the inheritance tax *is* a huge factor in small business progression. I myself am one of thousands of people who *would* inherit my father's farm, but it's not gonna happen! I'll have to disolve the farm in order to pay the inhertance tax! No really! I'm not making this up! Imagine that! If Brin had actually used his own grey matter instead of that which was spoon fed to him, he might have noticed that this is a real issue affecting real people!
Slashdot Mirror
Multiple taxation shouldn't exist anyway, but the inheritance tax is one of the worst taxes that can be paid. Yes, the government routinely takes several little percents off of every transaction, but with inheritance we're not talking little percents, we're talking lopping off huge chunks. Would you buy a $30,000 car if you had to write a check to the federal government for $10,000 in addition to what you currently have to pay, just because you bought a car? How about taxing Christmas presents? (I mean all Christmas presents, I'm not talking about the gift tax). For instance, let's throw in a 5% tax on all Barbie dolls this Christmas. By the way, that would be payable by your son or daughter. I'm sure the government wouldn't mind if you wrote the check, though. Ben
Oh, I see. Just because I've worked on this farm for 20 years, out in the field, on the tractor, in the shop, without what would be considered adequate compensation doesn't actually mean I've done anything that should allow me to continue running my family's farm? Just because I've helped pay for a lot of it, just because I've worked my butt off for it, doesn't mean I should actually have any claim on keeping the farm intact and operating. Got it. Ben
You're right, I *don't* want to have to hire legal counsel in order to keep what's mine! Tell you what, let's apply the same system to promotions in a more tradition workplace environment. Before you can be promoted to a new position, you have to pay 1/3 of the annual salary to the company! Sounds good to me! Why, just get a lawyer...a lawyer can fix that right up for you! Ben
Contrary to what the uninformed of the world are trying to claim, the inheritance tax *is* a huge factor in small business progression. I myself am one of thousands of people who *would* inherit my father's farm, but it's not gonna happen! I'll have to disolve the farm in order to pay the inhertance tax! No really! I'm not making this up! Imagine that! If Brin had actually used his own grey matter instead of that which was spoon fed to him, he might have noticed that this is a real issue affecting real people!
Ben