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View Diary: GOP Agenda in Action - Part II; Estate Tax To Be Voted On Tuesday (187 comments)

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  •  The "tax me twice" thing is bullshit (none)
    It's a fucking inheritance tax. Heirs pay tax on it like any other income. The individual is taxed, not the money itself.


    Let the great world spin for ever down the ringing grooves of change. - Tennyson

    by bumblebums on Fri Sep 02, 2005 at 03:02:11 PM PDT

    [ Parent ]

    •  even more obvious: (none)
      We tax wages (FICA) and income. Why is that "double-taxation" -- on the FIRST $88,000 of someone's salary only -- considered LESS onerous than taxing Paris Hilton's inheritance?

      As Al Franken says, the real reason Republicans oppose the Estate tax is that they feel it penalizes the most productive members of society: children of the extremely wealthy.

      "We can win elections only by standing up for what we believe." --Howard Dean

      by Jim in Chicago on Fri Sep 02, 2005 at 03:07:47 PM PDT

      [ Parent ]

    •  Wrong description of the tax (4.00)
      If the heir's pay tax on inherited money as if it were their income, then that is known as an accession tax.  The United States levies an inheritance tax, in which the tax is assessed on the estate, based on the value of the estate, and the liability to pay the tax lies with the estate.  Inheritances, when received by the beneficiaries of the estate, are not taxable to the recipient.

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