Estate Tax Introduction

Overview of the estate tax

Category:

Education

Tags:

• inheritance
• death
• tax

[ThomasHorter]

I saw you on Colbert. Thanks so much for uploading these!!!

[WHIREAS]

My life is complete; I am first.

[simplifyestatetax]

But the problem is the privately owned companies, that behave better than publicly traded companies.

If the head of FORD or STARBUCKS dies suddenly - if they were subject to the estate tax - the companies would have to SELL assets to pay the government for the estate tax. People would be outraged if the company had to lay off workers, or fire them.

Instead, we go after a private business owner, or farmer, who risked it all to create jobs and wealth.

Why not change the way it's collected?

[FortNikitaBullion]

So what if the family's wealth grows and grows? These people produce goods and services which benefit everyone; everyone's share of the pie might be smaller as a percentage, but the pie as a whole will be bigger.

[BJ219]

Also, what role do these overseas tax-havens play in all this?

[BJ219]

@ThomasHorter Which episode?

[nvesting123]

Approximately 1 minute spent explaining the "against" and 3.5 minutes explaining the "for" side. Then Winston Churchill comes out of the woodwork. I take it you are a huge proponent of the tax.

[peterK2003]

Does the rate vary by state?

[mrhnm]

@essandee I don't like income taxes because then the gov has to be all over your business.

[essandee]

@mrhnm

I agree. I don't like double taxation that occurs with income and inheritance taxes. Proposed measures that are better than we have currently are the flat tax(a flat rate tax) and the fair tax(a federal consumption tax).

[mrhnm]

@essandee Certainly but I think you could there are ways to fund without taxes. Or if you must tax without an income tax and inheritance tax.

[essandee]

@mrhnm

Maybe not a law of nature, but it surely is a law of civilizations. A government cannot run without some form of income.