Should gifts be taxed? If your mom helps with your rent should it be illegal not to report it as taxable income? What if you live at home as an adult? Should you be responsible to pay a tax on the expenses given to you?
So there’s an estate tax or a death tax. Should giving that wealth to your kids on your death bed be a loophole around it? How about a parent in good health that trusts their kids?
When grieving over a lost parent should part of the process be hiring an accountant and a tax attorney? Suppose it’s debatable what an estate is worth?
Is the money really in better hands with the government? Isn’t tax money really funneled into the bank accounts of the super rich? Would an estate tax actually serve to redistribute even more wealth into those accounts by funding things like the military industrial complex? Would the money end up being used to blow up a hospital in a third world country? Or the next trillion dollar bailout? Or “private” prisons?
Family fortunes rarely make it to a third generation so the money is likely to be organically dispersed without a death tax. The government can’t be trusted to redistribute the wealth.
Money and private property should be done away with but as long as it’s entrenched in our societies my gut take on this is I would rather some rich dude's kids get the money than the government.
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