"The legal right of an individual to decrease the amount of what would otherwise be his taxes or altogether avoid them, by means which the law permits, cannot be doubted." See Gregory v. Helvering.
Your statement would be true if in fact we did have some conservative government at play....however the opposite was true then and certainly now. The liberal tax and spend and tax some more system is working pretty good don't you think? I mean with all these social parachutes and welfare programs fixing everything for us you would think everyone in the USA would be totally self reliant and responsible and the government would be debt free.....oh wait sorry that is the way of the conservative individual to take care of ones self.
Uh yes it is.... if you pay taxes on the money when you earned it then thats tax #1 if you pay taxes on money that is given to you which has already been taxed as earned income then thats tax #2 To charge someone 50% of their assets in a death tax is absurd. Its not just money but property and all holdings.
It's income (from all sources derived) and unless there is an exception in the tax code, the income is taxable at the rate set in the code. You can give a gift (exception) but there are limits on gifts, as well. Above the limit, it is considered income and ta-da taxable.
According to Kerry's chief of staff the berthing had nothing to do with tax (wouldn't it be cool if they could just respond to these questions with "well d'uh").
So why don't you complain about other forms of taxation? Sales tax is a double tax by your definition, so why don't you b**** about that? Besides which, you're not charging someone 50% of their assets because, after all, they are dead and can't be taxed. You are charging the recipient of the property. No different than you'd be charged a tax if your living relative gave you $50,000 today.
This topic, and OddsOn's position with regard to it, always reminds me of those in the Confederacy that fought to help preserve slavery. The vast majority of White Southerners couldn't afford a slave in a million years. Slaves were very expensive to buy and expensive to maintain. Yet many wanted to keep slavery on the "odd chance" that they might, someday, have enough money to buy one. Many Southerners fought for other reasons... states rights, simply for their state, right or wrong, but many were just like OddsOn and the estate tax. Hang in there, OddsOn. Maybe someday you'll be worth millions and can legitimately worry about the estate tax.
OddsOn, why do you believe you should be taxed differently on money you receive based on whether the person who gives it to you is dead or alive?
I can't believe anybody would still mention the words "swift boat" in any context that wasn't joking or ashamed for the 2004 electoral mood of our country. The man served in Vietnam. For a political ideology that loves to preach the virtues of national service, American conservatives sure do love turning the tables when dealing with somebody who isn't their cookie-cutter brand of serviceman.
Every single dollar is taxed multiple times. Income tax, payroll tax, and Medicare tax is three taxes the first time. Then, you pay sales and/or property tax. Single taxation is a myth.
I so enjoy when you pleebs make my point even more relevant and don’t even realize it…to be blunt all this taxation is absurd at the federal level. Any taxation should be limited to the state level and there should be absolutely no taxation on income. Now back to the point of the thread, this is the same guy who, not to long ago, was railing to “close tax evader loopholes” for businesses and is also one of the main proponents pushing the god awful “cap and tax” bill that would have a devastating effect on the economy of the USA.
My president is Barack Obama. When I wake up in the morning knowing that an intelligent, global-thinking individual is collaborating to improve America, I find happiness. With the former guy, all I had to look forward to was our "victories /lies" in Iraq and delusions of the American dream. John Kerry, like the past, is all that conservatives hold on to. Time goes forward, not back. Give it up. Well, I guess you can hold on to Glenn Beck, since he and Paris Palin create conservative views. Good day.
Like so many others on this board you so idiotically miss the mark. Nobody is looking back except to point out the hypocrisy of these politicians in both parties. Oh and I fixed your post for you...and for the record I don't think Bush did any favors to the USA either.
Taxes are needed because the government needs the $$$ to continue functioning. Cutting the tax means the gov't will have less money to work with, and considering your gov't is knee deep in recession and greatly in debt I don't know how cutting the tax will do any good. From an outsider's point of view, the conservative/republican/teaparty ideology is hard to understand. Cutting the deficit is indeed extremely important (as the debt earns interest over time), however these "conservatives" also support things like taxcuts for the rich, the wars on Iraq/Afganistan and most of all defense spending, which is the biggest drain on your economy. Rather than arguing for taxcuts, welfare elimination or all of those things, conservatives should be focusing on Defense reduction AND getting your money bank from Wallstreet. Even if you do all the taxcuts and remove wealthfare altogether, it still won't compare to cutting down on defense spending and getting the money Tim Geigner gave to the bankers.
To expand on dumbarton's post above: if you'll care to retry the 2004 election, Kerry volunteered for Vietnam. His ass was in the kill zone. And his blood (blue or not) spilled for this country. on one of them there Swift Boats some Kennedy boy--the one that didn't blow up in the sky during a suicide mission against the Nazis--made famous. (Then, despite believing it would kill his political ambitions & future, based on all poltical wisdom at the time, Kerry came back to this country and protested that very same war. He worked to end it. Because he believed it was the right thing to do.) Man wants a yacht? Let him buy a yacht, and let him dock it wherever the h--- he wants.
If it is income, then why aren't the people receiving the money being taxed? The estate is taxed prior to the money being distributed.
