Comment: Estate Tax bad - Gift Tax good in Opinion: Time to Repeal the Wealth Destroying "Death Tax" on Opposing Views

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(Opinion) Time to Repeal the Wealth Destroying "Death Tax"

By Cato Institute

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Regarding Opinion

Time to Repeal the Wealth Destroying "Death Tax"

Estate Tax bad - Gift Tax good

I think the reason this still exists is to keep the wealthiest of us from collateral shennanigans.

The case where someone dies and property incurs taxes that make it impossible for inheretors to own that property is not something that should be possible.

But except in the case of an individuals estate, I see no reason why gift's should not be taxed.

I mean, money is not property. It is 'tender'. And it has no real value, in most cases. And it is monetized debt. Real estate property should pass from individual to individual with no impediment, but money is not any such thing. And any other entity should not be protected, either. It just provides another way for the upper class to avoid paying for their mistakes; or making the middle class pay for it.

People need to get a realistic view of how our monetary system works to continue this discussion.

- Submariner October 1, 2009 10:52PM

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- Tax
  
  I got problems with taxing property. If a wont to leave a car or a house to some one I should be able to leave them a gift and not have it taxed.
  Money is a income any way you get it,I don't like it but income is taxed
  
  - countryboy October 2, 2009 5:44PM
  
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  - No tax?
    
    I'd be willing to test a complete lack of taxation on a microcosmic scale (a middle class population in a state representative of many averages) so long as a minimum quality of life is guarunteed for the lowest classes during this experiment with moneys from outside the petri dish, and so long as the upper classes can not profit from external sources or to external sources during that period.
    
    It would be interesting to test the idea. I suspect that even with a positive feed at the bottom that such a group would self-destruct after a period of time. Especially after a generation of those educated only in family inculcation matured to adulthood.
    
    - Submariner October 2, 2009 7:47PM
    
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