I wasn't thinking in terms of corporate taxes--just individual investor taxes. I have never wanted to be a corporate shareholder. Hence the title reference to "individuals".
This is exactly what I was saying the other day about libbies. you actually want to block families from their inheritance. I find your pov to be abhorrent and disgusting. This is why I will NEVER vote for a bloodsucking liberal.
The other thing is that capital gains are taxing inflation. To the extent an asset increases with inflation, it isn’t income in a real sense, but it does produce nominal gains that are taxable.
Very few people pay federal inheritance tax at its current levels. At some level, all taxes are unpleasant as you are taking away money from somebody to pay for common needs. I really don’t get the outrage of taxing someone with $100 million, who is dead, and still the remaining family will be left with more wealth that 99.9% of the population. I really don’t get the moral outrage. I have some sympathy for the argument that inheritance taxes create a whole cottage industry for avoiding such taxes and you could argue they aren’t very efficient.
I see a theme here, companies that make money are lucky. Individuals who become wealthy are lucky, thus they really didn’t earn that money, so it should be taken and given to someone who is “unlucky”.
The metric we have been talking about the entire thread. % of income taxes directly paid by various earning groups.
Literally only .08% of estates pay inheritance tax currently and that’s at an effective rate of 20%. Your umbrage doesn’t match the reality of the situation. It’s not like a single one of the heirs earned the money to begin with anyway. Even if we went back to historical highs of 2% of estates paying estate tax it’s not “blocking” anyone from their inheritance. Oh, no! That $50MM estate is now $40MM! How ever will they subsist on that?! You act like the government has taxed $4000 on a $10,000 inheritance.
Especially knowing what fantastic stewards they are with the money they already pilfer, very strange indeed.
Can’t you detect sarcasm? The sentiment is all over the place. Some people make and have way too much money and the Gov needs to level the playing field. The way to do it is take more of some people’s money. Some people make lots of money just doing nothing (passive income).
Well since the discussion was about what group of earners pays the highest % of federal income taxes and you tried to change the discussion to who pays the highest % of federal income taxes as a % of their income, one could argue you don’t understand the discussion. You even tried to muddy the waters further by including all taxes paid. You’re smart enough to follow you just decided to try to move the discussion to metrics which support your tax the rich desire. Nice attempt with the effort. All the ultra rich liberals who cry that they don’t pay enough in taxes always have the option to pay more, not surprisingly they never do and fight the IRS just as much as those greedy cons and corporations.
Lol, you are the one that said a lot of it is based on luck. That’s not a very educated opinion at least not in the business world. I can just see it now the CEO of a major company tells the board the reason they went under was due to “bad luck”.
I was paraphrasing some of the sentiment from the thread. I didn’t put it in quotes as to avoid a fight about “those things not specifically being said” To answer you question no people should be allowed to make as much as they want (so long as it’s legal).
