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Conversation with my daughter today
Message
From
19/08/2014 14:14:34
 
 
To
19/08/2014 13:05:39
General information
Forum:
Family
Category:
Children
Miscellaneous
Thread ID:
01604148
Message ID:
01606083
Views:
49
>What I support is that money is taxed when it changes hands. That means when you earn it (as it is now) and when you spend it (because then it's income to someone else). Inheritance tax simply means that the estate pays the tax before it gets to the heirs, who then receive it tax-free. How is that different than money being taxed each time it changes hands?

You say "each time money changes hands"

But in fact 99.86% of estates don't pay any tax (Urban-Brookings Tax Policy Center)
Most of the estates that do pay tax, in fact pay little because of the high threshold.

Perhaps what you meant to say is:
1/7 of 1% of the time money changes hands, the money is taxed.

Our system is supposed to protect the rights of minorities.
Even unpopular minorities.
Especially unpopular minorities.

The system is run by humans, and we are far from perfect and we fall from our principles.
Our government has rounded up American Citizens and hustled them off to concentration camps.
Our government has turned fire hoses on civil rights protesters.
And today, somewhere in America, police are confiscating money and property from some poor person without proof of wrong-doing or any due process "Drug Asset Forfeiture"

Making laws that apply to others but not ourselves.
Tsk Tsk.

Seizing family fortunes from some tiny minority of families because we all voted for it is not democracy.

This is just as disgusting as the Japanese families that lost everything when we sent them to concentration camps.
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