Veeky Forums Tell me why the estate tax should not be raised to 75% or higher

then no one does

i agree there are too many exemptions. trusts should count as assets

Your ID is Jew

I KNEW IT

FUCKING JEWS MAN

Tell me why it should be.. without sounding like a crybaby about how the world is unfair

It would help to redistribute wealth instead of handing it to people who didnt earn it

Why must wealth be earned? Why must wealth be held by those who earn it? Why must wealth be redistributed? Who does that help?

Tax is applied based on how much the government can take from you without a large impact to your life. When you are dead, you can't spend the money and thus it needs to be redistributed for optimal velocity of money. You can be taxed at a 100% rate because as a rotting corpse you have 0 needs.

>muh kids
If you are rich, you should be able to teach your kids how to generate money so they can create their own legacy. And you should be able to afford life insurance for your family in case you die suddenly. Rich kids riding off of the legacy of their parents is really the saddest thing. So much potential wasted.

Honestly, there is no excuse for the government not to seize all of your remaining assets after you die.

>It would help to redistribute wealth

are you saying it should be redistributed to people who didn't earn it?

Depends on what you define "wealth" as. Some people would define wealth as owning capital.

Those people would be wrong. In today's society "wealth" is the ability to generate economic growth. You can be pretend rich and blow all your cash on hookers and blow but you are just a poor little man with a bunch of money.

You don't need to have a lot of capital to generate wealth. Access to capital is a service offered by banks and investors who are more than happy to lend if you are a wealth generator. There's no reason a dead person or their useless children need access to all that capital who might not spend or reinvest it efficiently. If they are smart and good at business they can access it through other methods.

Lol.. sounds like a cry baby attitude
so either way you are handing it over to people that didn't earn it

I want both of you to go ahead and shut off your computers and go out and get a fucking job and stop crying about other people being better off than you

It shouldn't because it kills the incentive to make it in the first place. The reason people build wealth is first for themselves, and second for people they care about. If I knew all my wealth was going to go to a bunch of asshole politicians, I'd set fire to it immediately before I off myself.

You know dam well who it helps dont play coy with me you fucking edgelord

lol are you fucking kidding me? i dont think you understand how taxes work. the irs doesnt take money from the rich then toss it in the air for people to grab. its invested in school and civic improvements which in turn create a higher standard of living for everyone

>when im dead some of my wealth will be seized
>guess ill just stay poor forever
ya i bet thats a lot of peoples train of though

Great argument. Hope it works in the political theater because we are coming for you nigga.
Why do rich people not care about the society that allowed them to become rich and powerful?

>the irs doesnt take money from the rich then toss it in the air for people to grab
oh my sweet summer child

>all government is waste
k

Great argument.

you think that when the government taxes people they use that money in a righteous way? Or do you think they just give themselves and their co-workers a big bonus at the end of the year?

you should probably be looking for a job and worry about your own finances instead of worrying about other people's money

My argument is for you to kys

You've described the private sector to a T.

strawman

private sector = government spending
great contribution

You can go ahead and describe to me how public sector union workers get bonuses.

>Why do rich people not care about the society that allowed them to become rich and powerful?
Many rich people have set up charitable trusts to help society after they pass. The difference between that and what your suggesting is one if voluntary and the other is forced.

You can go ahead and explain to me why your lazy entitled ass feels as if anyone owes you anything without sounding like a cry baby

Nice meltdown

Why shouldn't it be taxed 100%?

Why shouldn't you be taxed 100% throughtout your career or lifetime and have money be given to those who need it?

Because that's probably not how incentives work for productivity.

Nice explaining... troll harder faggot you suck at trolling just like you suck at life.. 30 year old man child detected

Already gave an economics-based answer, you just wanna spout ad-homs because >muh money

Still sounding like a cry baby. Lol

Holy shit get out of your parents basement would you?

Same reasons income tax (or any tax) shouldn't be 75%.

When they prove they can do a good job of managing the money they get, then I have no problem giving more.

estate taxes are after youre dead idiot

>be dead
>government hyenas pic your bones clean
It's the circle of life.

I can understand that but when you have all these billionaires creating organizations to serve a specific niche, at some point wouldn't it be more effective to pool that all together into a common organization, run by the people for the people?

ya the waltons set up a charity and gave 1% of their dads wealth to it! thats exactly the same as a 75% estate tax!!

Let me guess. One of those people in the common organization is going to be you.

> this kills the motivation

>it be more effective to pool that all together into a common organization, run by the people for the people

Cause clearly the government is known for both its efficiency and doing things "for the people"

You seriously need to fuck off back to r/bernie

You should probably just focus on making your own money buddy.

Not sure why you think giving money to poor people will do anything.. they are poor for a reason..

>he can't spend all his money in his lifetime

Then you don't need it my nigga

Do you have an example of an organization that can do government better than the government can?

Can you give a single example where the government does anything better than private business?

>ya the waltons set up a charity and gave 1%
And the rest went into wealth generating activities that are taxed. At this point the 99% has been taxed several time over.

Transportation infrastructure, healthcare, water and sewage, emergency services and public safety, national defense, public education, environmental protection

Do you need more examples?

dumbest argument ive ever heard

>le poor people are lazy
got an econ major with us today i see

>infrastructure, healthcare, water and sewage, emergency services, national defense
Most of these are in some way contracted out to private companies in some way shape, or form.
> public safety, public education, environmental protection
It is very questionable if the government is effective ate these.

>wealth generating activities

lol right...

>the waltons money is taxed several times over
this is false and you know it

>healthcare
>public education

The rest are likely bullshit as well but I know from first hand experience that those two are shit.

I guess your right. The waltons didn't pay any taxes on property they bought. They did not pay any taxes on capital gains or dividends. They did not pay any estate taxes when the heirs died.
I guess the stacked all the money in a storage container and made a thrown out of it.

ya all those private schools in harlem and appalachia are really doing a great job

>made a thrown out of it.
basically

The waltons didn't pay any payroll taxes for the people they hired or themselves.

The workers might be provided by the private sector, but the public sector tells them exactly what needs to happen and in many cases sectors are highly regulated.

And at the end of the day, if subcontractors fail the government is on the hook for not being able to provide the service.

If the government went away these services would turn to shit real quick because for the most part, they are monopolistic.

ITT
A bunch of commie 12 year olds who want to rely on handouts and have their family wealth taxed so it can go towards NEETS and art projects.
I would rather see every single one of you die then get your hands on what my family worked for.

WEW lad. Im glad i live in a country where they dont tax inheritance.

Kys, leftypol.

if you truly believe that the walton family is paying their fair share of taxes i might as well be talking to a wall

>If the government went away these services would turn to shit real quick because for the most part, they are monopolistic.
They are already shit with the government running them.
The government loses billions of dollars every year to fraud, waste, and abuse. It is clear the government is shit at handling money.

>Transportation infrastructure, healthcare, water and sewage, emergency services and public safety, national defense, public education, environmental protection
>government does these things better

You're an idiot.

>government sucks lets all just fend for ourselves!!
ok man great argument

>fair share
This meme needs to die. It is way to subjective. I can tell you one family member has paid more in taxes than anyone here will ever make in their life.

>I would rather see every single one of you die then get your hands on what my family worked for.

This desu. Fuck liberals.

>if you truly believe that the walton family is paying their fair share of taxes i might as well be talking to a wall
The government you're so willing to give other people's money so they can redistribute it to your NEET ass set those tax rates and enact the laws and policies which allow them to pay minimal tax.

You can't even make a post without demolishing your own argument.

Not only does the same thing happen in private organizations, they aren't auditable to the same degree as public organizations so you will never see it fixed, and on top of all that any profit they generate is waste.

/thread

All soon to be privatised to help pay off the ever increasing gov debts because the gov are fucking incompetent of running an economy.

ITT: Trust fund kids who have never earned a dime in their lives try to justify why they deserve mommy and daddy's money.

You're the edgelord poor son of a bitch niggerlit here nigga.

My parents are millionaires based on their net worth and they are leaving everything to me and my sister and we will get over a million in life insurance nigger

why the fuck should kids in africa receive my millions?

MY SPERM IS TIED TO THOSE MILLIONS, MY DNA!

i earned $11.25, thats like, 113 dimes u edge lord

in 1 hour

at work

at fucking BEST BUY

I DESERVE THE MONEY, MORE THAN YOU, SAD PIECE OF SHIT

SUCK MY DICK U CUNT

really? they paid a higher percentage than i will in my life? i disagree with you i pay near 40%

Hey when you parents die give me their money because you don't deserve it.

OK, I don't need their money.

>they paid more
>HAHA BUT THEY DIDNT PAY MORE THAN 40%

u r 1 dense motherfucker, abandon this stupid shit and let OP talk to himself

a million dollars doesnt even qualify for the estate tax. maybe take some of that money and get an education

>Not only does the same thing happen in private organizations
If it happened to the same degree as it does in the government, the business would fail immediately. Businesses can't just issue treasury notes and get more money when their business fails.
>they aren't auditable to the same degree as public organizations
Private organizations are audited all the time. They are audited when they want loans, issue securities, and when they are sold.
>so you will never see it fixed
Government auditors issue reports on unimplemented recommendations where government organizations had major deficiencies in internal control and they never corrected them.
>on top of all that any profit they generate is waste
Profit gets churned back into the economy. It isn't wasted.

why should someone richer than me pay a smaller percent? that is the most backwards logic ive ever heard

Its not about needing it friend.
Your family earned it therefore it should be passed on to their immediate family in full whether you feel you deserve, do/don't want it. Then you can donate it to me after. At least its your choice and not some vulture who wants to fund transgender surgeries because its progressive.

>Businesses can't just issue treasury notes and get more money when their business fails.
Ya if citigroup or bank of america started to fail theres no way... o wait

Yeah, and the shareholders paid the price. There is no such thing as a free lunch.

You can't audit broken business processes or figure out how much x person is paid in the private sector. That's part of the secret sauce that can't be disclosed. The public sector is required to issue documents (with national security exceptions) or they can be sued. There isn't a freedom of information act for the private sector.

A business can be inefficient for long periods of time, if their competitors price fix or do other shady deals to protect their profits they can stay afloat for a long time.

>Profit gets churned back into the economy. It isn't wasted.

So, government waste isn't waste because it gets spend and goes back into the economy.

your point?

>You can't audit broken business processes
That's what auditors do.
>figure out how much x person is paid in the private sector
Just audit payroll. If you mean can you as a private citizen then no, but it doesn't matter anyway.
>A business can be inefficient for long periods of time, if their competitors price fix or do other shady deals to protect their profits they can stay afloat for a long time.
The government can go even longer for reasons previously stated.
>your point?
Someone has to pay tangible money instead of issuing treasuries or printing more money.

Family wealth doesn't have to be in cold hard cash, that's a very short-sighted way to see it. The wealth that your family should provide you with is through life lessons, ultimately raising you to be a successful person and a wealth creator so you can create your own legacy, not live off of the entrails of theirs.

If unearned wealth is so evil, why create more unearned wealth recipients by redistributing estates?

Check mate commies

but there's no guarantee their kids can manage it

>stock market
>tangible money
o i am laffin. dude you literally just said private sector cant be bailed out like the government when that literally just happened. are you retarded?
becase thats not how taxes work. the money would be spent on civil improvements like education and infrastructure not handed out to people in gold bullion

>private sector cant be bailed out like the government
That's government malfeasance not the private sector. Sorry to break it to you. Your god THE GOVERNMENT is pretty bad.
For some reason you seem to think money just magically appears in the stock market. It doesn't btw.

>we have a problem, and instead of fixing it, we should ignore everything surrounding the problem and its causes and route everything through a different system
You seriously need to fuck off back to /ancap/.

>its invested in school and civic improvements
if you haven't noticed, US is pretty much on par with the 3rd world in regards to infrastructure at this point: interstates crumbling, water supplies degrading to the point to where they're causing biological harm to citizens, and oil and gas drilling (which get massive tax breaks) is causing earthquakes that damage private home owners and real-estate investors.

I'm not convinced that the tax money is being redistributed fairly, so why add more privately owned funds from citizens to the pool of funds to be misappropriated?

I really disdain anyone who is in favor of the estate tax, let alone 75%. Economic asymmetry is a reality of any society, even the communist states always seem to end up as a two party system.

Whenever I hear someone advocate wealth redistribution through progressive or estate taxes the first thing is think of is class. What social class is this person from? You're probably thinking "Well of course the rich are against wealth redistribution!"

What is the number one thing members of each class have in common with each other?

Is it total wealth?

Is it education?

Is it race?

No. It's temporal perspective.

We see it every day. Those of the lowest class live for the day. Buying lotto tickets and racking up consumer debt with no concept of delayed gratification. And no, it's not always out of necessity. There's a reason most lotto winners go broke.

Next we have the middle class. Building equity in their houses with 30 year mortgages, preparing their kids for colleges, and saving for retirement.

Then there's the upper class. While the middle is thinking on terms of years or decades they are thinking lifetimes. Concerned with their legacy and future generations, they create trusts and endowments. An honorable cause.

How about from a moral stand point? At the most fundamental level isn't that the purpose of any living organism? I.E. To spread their genes and do what they can to ensure survival of their progeny. Personally, I don't think so.

Ok, so morals aside, what are the practical implications? Wealth redistribution of that magnitude is a huge step in the direction of socialism which is not what America stands for.

Life's not fair, get over it.