[quote=meadandale][quote=deadzone]Right or wrong I’m all for higher inheritance tax. What did those worthless, spoiled rich kids to do deserve that financial windfall? They didn’t do shit, their parents did, or their grandparents. I say tax the shit out of em. You can call it “double taxation” if you want but all the same, it would rather them pay more than the rest of us.
Anyone who relies on their family for their financial well being is a loser in my book.[/quote]
Envy much?
The irony is that this tax often hits the children of family owned farms…who end up having to sell the family property in order to pay the estate tax. Awesome..more land for the corporations to gobble up. More unintended consequences…[/quote]
Really? Often hits the children of family owned farms? Sad story. At least it would be if it really happened that way. Having done estate planning for many years, it never made sense to me when I first heard the “sad family farm” story. I dug into it a bit a few years ago. Couldn’t find a single credible instance of it actually happening that actually included the facts of the case. Not a one. Not even one where I could pick it apart and explain why it didn’t make any sense. Nothing. Maybe it has happened. But I suspect it has been so incredibly rare over the last 10 years as to be a non-issue.
It is as absurd an argument as that in support of continued tax cuts for the wealthy so that small business doesn’t suffer.
