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Conversation with my daughter today
Message
From
26/07/2014 13:31:25
 
 
To
26/07/2014 10:20:43
General information
Forum:
Family
Category:
Children
Miscellaneous
Thread ID:
01604148
Message ID:
01604735
Views:
47
>>
>>It was earned by you and the tax was paid when the money was earned. Why should you be taxed again when you die?
>
>Well, taxing me when I'm dying won't hurt me, will it?
>(Sorry, couldn't resist that)
>Money in circulation is taxed every time it changes hands.
>I pay tax on my income, and then pay sales tax again when I buy something with it.
>The merchant who sold it to me pays income tax on that money and the cycle starts all over... ad infinitum.
>In that scenario, in addition to exchanging the money and supporting the community at large by paying their taxes, the participants - or at least one hopes so - used their talents to add something of value to the community at large.
>
>People receiving inherited wealth have contributed nothing, just as people receiving welfare have added no value.

What definitions are you using for 'nothing' and 'no value' in the last sentence ?
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