Inheritance tax is one of the most bullshit things ever done

CodeBuns
CodeBuns

Inheritance tax is one of the most bullshit things ever done. Why the fuck should you be fined by the state for fucking dying. A few states have hundreds of people in prison because they didn't pay the death toll when one of their family members died.

This is why I don't take libcaps/confederates too seriously.

All urls found in this thread:
https://en.wikipedia.org/wiki/Tyranny_of_the_majority
https://www.quora.com/How-does-the-Cayman-Islands-government-earn-revenues-if-there-is-no-taxation
RumChicken
RumChicken

inheritance tax is necessary to pay for all the public services because we are human beings with compassion :)

kek

eGremlin
eGremlin

im making damn sure this government doesnt get a penny of mine the fucking wankers

AwesomeTucker
AwesomeTucker

@CodeBuns

https://en.wikipedia.org/wiki/Tyranny_of_the_majority

PurpleCharger
PurpleCharger

@CodeBuns
Are there any ways to sidestep this or transfer money out of the country and deliver it to your kids?

GoogleCat
GoogleCat

@PurpleCharger
Swiss bank accounts.

whereismyname
whereismyname

@PurpleCharger

1. fake your life (when the person dies, make it like they're alive, keep paying their bills, and other shit) and withdrawing money from their accounts, this is going to take lots of planning.

2. estate planning for when you die. this will cost a pretty penny for most, but if you have a few hundred thousand or more, it's worth doing to plan it so that your next of kin can get as much as possible, this is possible through a variety of trusts of different types

Nojokur
Nojokur

@PurpleCharger
plenty. Mostly trusts which remove the money from your name but in many circumstances you'll retain significant control over it.

Soft_member
Soft_member

@PurpleCharger
You can literally evade it by hopping states. The people who leave an inheritence there are literally just retards or helpless peasants that cant afford to sell their house and move.

Evil_kitten
Evil_kitten

@Soft_member
ah ah ah careful with those words son. Tax evasion is illegal. This is simply tax optimization.

happy_sad
happy_sad

the only problem with inheritance tax is that it isn't 100%

likme
likme

@happy_sad
I am triggered by this

WebTool
WebTool

@CodeBuns
all i can think is why on earth would you care? your dead. who cares? if you didn't teach your sons to be financially responsible, then they will loose the money anyway. and if you taught your sons to be financially responsible, then they will make a fortune for themselves. i would rather have a high death tax and a lower income tax then the vice versa

Stupidasole
Stupidasole

>>1395865
Anon
Was this posted by a bot?

Crazy_Nice
Crazy_Nice

Inheritance tax only affects fortunes over $3,000,000
A dynasty trust can hold $6,000,000 tax free as well

People who complain about this are fucking faggots.

Bidwell
Bidwell

@CodeBuns

You have to have an inheritance of over 5.5m to be taxed.

likme
likme

@Crazy_Nice
Exactly. Most people who complain about inheritance taxes are nothing but useful idiots of the truly rich. They don't understand that 99% of the population will not have to pay one penny in inheritance taxes because they estate they leave behind isn't worth enough to tax.

Meanwhile, people like Mitt Romney play these fools to vote to allow him and his descendants to not pay inheritance taxes. Romney's hundreds of millions of dollars, left untaxed, guarantee the rise of an aristocracy in the U.S. assuming it hasn't already happened. Meanwhile, the people who vote to give Romney and his ilk such privileges will, in all likelihood, never even come close to rising into the aristocrat class.

Harmless_Venom
Harmless_Venom

@CodeBuns
Income tax is one of the most bullshit things ever done. Why the fuck should you be fined by the states for fucking working? A few states have hundreds of people in prison because they tried to avoid income taxes by taking money 'under-the-table'

This is why I dont take atheists too seriously.

DeathDog
DeathDog

@CodeBuns
From the sounds of you, none of you need to worry about estate tax. Are you planning to inherited more than 5 million?

TurtleCat
TurtleCat

@Crazy_Nice
Not in Belgium. 30% inheritance tax on everything. Basically the government telling you you're a slave again.

VisualMaster
VisualMaster

@DeathDog
Depends where you live. In europe you'll pay 10% for 100k already with progression

BinaryMan
BinaryMan

@VisualMaster
@TurtleCat
I'm surprised anybody bothers doing business in Europe. I heard some countries basically don't allow you to make over 100 grand a year.

JunkTop
JunkTop

Basically you just pay one more time huge taxes on earnings you have already taxed a thousand times. A really stupid tax, masses accept it because of the jealous mind of a man.

Sweden did really smart move, they removed inheritance tax completely, thus increased their tax revenue as the wealthy familys and family businesses moved back to sweden from france, uk etc.

CodeBuns
CodeBuns

@BinaryMan
Yeah, it is really insane and socialistic atm. getting worse and worse as the governments go bankrupt. They suck money out of people like vampires with all kinds of ridiculous taxes.

France tried 75% tax for 1M annual income. Everybody left the country. They had to remove the 75% RICH TAX. Currently France is the most socialistic country in eu by far, and their economy is in really deep shit too.

Dreamworx
Dreamworx

@BinaryMan
At the past decades rate, the average Belgian with income will pay 55% of all his worth to the state in taxes.

The state takes to majority of my property. Shit is only going to get worse over here.

I am considering moving to the states or Chile or some shit. I sadly can't stay here like this.

Need_TLC
Need_TLC

Yeah, looks like Belgium is really getting out of control with taxation

haveahappyday
haveahappyday

@PurpleCharger
Withdraw it all in cash

iluvmen
iluvmen

@Dreamworx
If you daytrade, go to the cayman islands. If you can nab citizenship I THINK you can trade on the NYSE/forex with no tax, but fuck if I know how it works.

lostmypassword
lostmypassword

@iluvmen
https://www.quora.com/How-does-the-Cayman-Islands-government-earn-revenues-if-there-is-no-taxation

Not sure how accurate this is: I think if you change citizenship you should still be fine but you may have to marry a whore there. Marriage is less risky there than in first world countries where you are basically signing up to be extorted by your wife, but the natives are all blacks iirc.

BinaryMan
BinaryMan

@TurtleCat

White ass motherfuckers in fucking Belgium
30% inheritance tax on money you didn't even fucking earn
Government telling you you're a slave again

Eat a dick faggot.

JunkTop
JunkTop

@CodeBuns
You aren't fined for dying. What happens is that you are transferring a significant amount of wealth to people, and they have to pay the taxes for it in return of state providing legal framework for transfer of the property.

CodeBuns
CodeBuns

@BinaryMan
A lot of European countries have relatively low capital gains tax compared to high wage marginal tax.

Spazyfool
Spazyfool

@CodeBuns

Shh. The serfs are complaining about the funding for their own social safety nets that aren't funded by the higher classes.

Dreamworx
Dreamworx

having children
Good goys.

askme
askme

@likme
@girlDog
Down with meritocracy

WebTool
WebTool

@DeathDog
My family's rural poor with a lot of land that creeps up in value every year.

@BinaryMan
Yeah, but that's like saying the president only makes 500k or whatever a year. You can have power and status through other means.

TurtleCat
TurtleCat

@iluvmen
I buy a lot of US stocks in a Canadian instrument that theoretically doesn't charge capital gains tax, but I'm still taxed by the US government for dividends from my US holdings. Probably wouldn't pay any capital gains from selling stocks that went up though.

AwesomeTucker
AwesomeTucker

@CodeBuns
(OP)
t. I don't owe anything to the government even though
I walk on comfy roads and drive on highways built by the government
don't have to worry about getting bombed by our enemies thanks to our government funded defense and military
don't have to shit and piss on the street thanks to the sewage system built and paid for you by the government
don't have to worry about recycling or getting rid of my waste because the government funded garbageman will always come do it for me early in the morning when I'm in comfy sleep.
don't have to ride horses to travel 1000 miles thanks to government subsidizing the automobile and aircraft industries (because they'll otherwise be bankrupt if they went full private)
can read and write thanks to government funded education
don't have to attach notes on a pigeon's leg to send mail anymore thanks to the government funding the internet

Yah, fuck society and the government, man. I owe them nothing!

inb4 I never asked to be born in this shitty world in the first place

Stark_Naked
Stark_Naked

@likme
This. Too bad it won't get through to the people most in need of hearing it.

Need_TLC
Need_TLC

@likme
So what you're saying is that its """morally wrong""" to be successful?

Fuck off you communist cunt.

Nude_Bikergirl
Nude_Bikergirl

>>1396963
Implying highways aren't shit and you aren't required to follow rules you have no say in on the roads you pay for
Implying all taxes go to military spending
Implying all military spending is defensive
Implying you don't get a bill to pay for that sewer system monthly
Implying you can't just drive to the dump
Implying any 1000 miles away is a place you go anywhere near regularly
Implying government mandated education in the US isn't a total mess
Implying you don't pay for the privilege of being spied on by at least 3 different alphabet agencies (and then Alphabet itself) when you pay for your internet.

Garbage Can Lid
Garbage Can Lid

@Need_TLC
See, this is why you're a useful idiot.

What's wrong is the aristocracy that arises from this and suffocates the ideals that America was founded on., among them egalitarianism and meritocracy. Through empowering the aristocracy, you will turn the America experiment into the failed European states that its founders fled centuries ago.

Of course, the dropout on the radio will tell you its all somebody elses' fault, so you'll have that at least...

kizzmybutt
kizzmybutt

@Garbage Can Lid
You can bring down this "aristocracy" by not buying the products their companies produce.

It's literary that easy, nigger.

Playboyize
Playboyize

@PurpleCharger
Get them to open an account in their name and send them a gift every month, on the understanding that they are not to touch it until your deatg

Carnalpleasure
Carnalpleasure

@kizzmybutt

A lot of the products they produce are essential goods, and they're the only ones with the capital to produce them.

Flameblow
Flameblow

@Garbage Can Lid
Economic egalitarianism was never an American value.

haveahappyday
haveahappyday

@Flameblow
Idiot, concentrated financial power destroys political egalitarianism.

idontknow
idontknow

@Garbage Can Lid
meritocracy
I cringed. You know there are people who just graduated and are doing your same work for twice your pay, right?

PackManBrainlure
PackManBrainlure

It was meant to curb dynasty family accumulation but hasfailed miserably. Now it's just a "they should pay their fair share" money grab despite the filthy rich pay more in one year than the average slob will his entire life.

Tell me more about how the rich are meanies :[

Flameblow
Flameblow

@Need_TLC
They really like eye gouging single earners.

StonedTime
StonedTime

@WebTool
dude wtf? you spend your whole life building wealth of course you want your offspring and not some dirty mexicans or niggers to have it. are you a cuckold?

takes2long
takes2long

@happy_sad
Call me crazy, but i wholeheartedly believe that inheritance tax should scale exponentially. The poor and lower middle class would be able to help their offspring off with whatever money they have saved, and the upper class would contribute more to society instead of gaming on the increased poverty of the lower classes.

TreeEater
TreeEater

@PackManBrainlure
failed miserably. Now it's just a "they should pay their fair share" money grab
Kinda like the AMT.
They didn't fix it for so long because they liked the fact it was fucking more people every year.

Sharpcharm
Sharpcharm

It's sad that this thread is full of trust fund babies who are too coddled and useless to strike it out on their own.

Snarelure
Snarelure

@CodeBuns
It's why in the UK it's important for parents to transfer their estate to their children long before they think they might die to get around the 7 year rule.

TurtleCat
TurtleCat

@takes2long
The problem with this is that you somehow think that extra taxed money ending up in the government's hands will benefit society more than in the hands of the upper class.

ZeroReborn
ZeroReborn

@CodeBuns
A few states have hundreds of people in prison because they didn't pay the death toll when one of their family members died.

Being rich doesn't excuse your being stupid. If an estate is worth more than mid 5 figures, and you don't hire a lawyer to handle it, you are fucking stupid. You don't get jailed unless you tried, and failed, to hide millions. Only people who are all three of rich, greedy, and lazy/stupid get nailed for evading inheritance taxes. It's piss easy to dodge them legally, and if paying a few shekels out of your mountain of them for proper estate management is too expensive, you deserve what's coming to you.

More to the point, how in the fuck did they spend these assets so quickly that they wound up jailed? The IRS moves in terms of seasons, not days. Estates take forever to properly settle. The only way you get in real trouble is if you made no attempt to correct actions the IRS didn't like, or actively tried to hide assets from them once they notified you that they weren't happy.

Crazy_Nice
Crazy_Nice

@TurtleCat
Yeah i live in a place where the government isn't retarded and actually gets useful stuff done. Trickle down economics is a bad meme.

Deadlyinx
Deadlyinx

I want free money, that someone else spend their hard work to get
For people who hate socialism and for talking shit about people who wants free stuff, you seem to be even more entitled.
Why should you get money for free, while doing nothing to earn it.
Just a bunch of lazy people who wants to not work for their own success, just demand that it is given to them for free.

PackManBrainlure
PackManBrainlure

@TurtleCat
@Crazy_Nice
Government _can_ work. The US's problem is that cuckservatives ride in on an anti-government platform, rob the place blind once elected, and then say "see? government doesn't work!" Where else can you promise not to do your job, get hired anyway, and blame the job for your failures?

Sharpcharm
Sharpcharm

@Deadlyinx
What is "every single shitcoin thread ever?"

Evilember
Evilember

@CodeBuns
Being a degenerate leach is bad m'kay

Need_TLC
Need_TLC

@Deadlyinx
You're an idiot. If your dad works his whole life and saves money and pays taxes on it, why would he have to give it to the government upon dying if he wants to transfer it to his family?

Why do you feel entitled to other people's money? The government is there to defend the constitution, not redistribute people's money and meddle in their private affairs.

Gigastrength
Gigastrength

@whereismyname
1. fake your life (when the person dies, make it like they're alive, keep paying their bills, and other shit) and withdrawing money from their accounts, this is going to take lots of planning.
does this actually happen?

Snarelure
Snarelure

@Gigastrength
All the time actually. It gets even more complex too. Farmers have lied about deaths of parents to receive subsidy money for decades.

Not sure at what point you can no longer technically say someone is still working with the land when you are using them as compost, but the feds don't seem to be interested in those semantics one way or the other.

Emberfire
Emberfire

@Snarelure
All the time actually
I doubt people commit fraud "all the time".

SniperGod
SniperGod

@WebTool
You have two options.
1: Rent the land to farmers. It's reasonably profitable, my grandparents have lived by doing that for years.
2: Sell the land and invest.
If you've got more that 5 million dollars in land either one should work just fine.

BlogWobbles
BlogWobbles

@Emberfire
I'd actually put money on there being at least one individual who is actively defrauding the federal government at any given point in time.

Technically correct. The best form of correct.

Snarky comments aside, this really is not uncommon. It's not something the majority of people do by any stretch, but when you have a population of 300,000,000, it doesn't take a very large percentage of people to actually cause a few thousand cases every year.

idontknow
idontknow

@CodeBuns
If you're smart, dont leave a will. Leave a statement wherein you give away all your money to your successor before you actually die. Like the moments before you actually die. That way you dont have anything to give away or be taxed for in your will.

Nojokur
Nojokur

@CodeBuns
sounds like meritocracy to me desu

you only get what you can get yourself in this life

Skullbone
Skullbone

@PurpleCharger
Give 13k to a bank account allocated to one of your kids every year, as the first 14k in gifts isn't taxed. Assuming you have 3 kids you should be able to transfer around 1.5 million to them before dying and it's completely tax free.

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