Inherited wealth. Any justification?

[Antiderivative]

What "subsidies" does natural gas receive.

lol...I am done with you.

Figure it out for yourself.

 

[bripat9643]

What "subsidies" does natural gas receive.

lol...I am done with you.

Figure it out for yourself.

Just as I thought: you're making things up.

 

[syrenn]

I have addressed the welfare problem elsewhere, though it is mostly a state issue, thanks to neo-federalism

LOL, how about you answer the question then:

Why are you so against people earning their way in our world?

Well I certainly don't have anything against supporting people who are disabled, or in giving people a hand up, but there ought to be greater restrictions on simply handing money out to the able-bodied. it promotes idleness of body and mind, increases the consumption of resources, indulges a taste for luxury, and leads to the unhealthy state of ennui. There is possible no way of stopping welfare abuse in the individual states any more than we can "confiscate" all inheritance. But in either case we can limit the harmful effects with judicious policy.

Do the disabled earn their way in life?
Do the people who are looking for a free check earn it?

I see many able bodied people receiving free checks. Are they earning their way?


Do tell, what harmful effects come from an inheritance?

 

[Ragnar]

Power Line - The AP Ponders the "Super Rich"

Four hundred "super rich" times an average adjusted gross income of $345 million equals $138 billion. That is around 1/27 of the current year's federal spending of $3.8 trillion. Which means that if the Democrats stole every penny of income earned by the super rich, it would fuel the out-of-control federal behemoth for a little under two weeks. Thirteen days into the fiscal year, we would be on our own. And we wouldn't have the super rich to kick around anymore

Taxation — Ayn Rand Lexicon

In view of what they hear from the experts, the people cannot be blamed for their ignorance and their helpless confusion. If an average housewife struggles with her incomprehensibly shrinking budget and sees a tycoon in a resplendent limousine, she might well think that just one of his diamond cuff links would solve all her problems. She has no way of knowing that if all the personal luxuries of all the tycoons were expropriated, it would not feed her family—and millions of other, similar families—for one week; and that the entire country would starve on the first morning of the week to follow . . . . How would she know it, if all the voices she hears are telling her that we must soak the rich?

No one tells her that higher taxes imposed on the rich (and the semi-rich) will not come out of their consumption expenditures, but out of their investment capital (i.e., their savings); that such taxes will mean less investment, i.e., less production, fewer jobs, higher prices for scarcer goods; and that by the time the rich have to lower their standard of living, hers will be gone, along with her savings and her husband’s job—and no power in the world (no economic power) will be able to revive the dead industries (there will be no such power left).

 

[bripat9643]

Direct welfare benefits is around 5 billion. Tell me how cutting back on 5 billion of direct welfare benefits is the cause and solution of our economic woes.

80% of the budget is welfare. You're artificially narrow definition isn't fooling anyone.

Have you ever paid FICA taxes?

Yep, those go straight into the general fund to pay for all manner of things, including welfare.

 

[Agit8r]

You found one quote that endorses confiscation. Congratulations.

Everyman who signed the Constitution disagreed.

"With this paper, without taxes the first three years, they fought and baffled one of the most powerful nations in Europe. They hoped, notwithstanding its quantity, to have kept up the value of their paper. In this they were mistaken. It depreciated gradually. But this depreciation though in some circumstances inconvenient, has had the general good and great effect of operating as a tax, and perhaps the most equal of all taxes, since it depreciated in the hands of the holders of money, and thereby taxed them in proportion to the sums they held, and the time they held it, which generally is in proportion to men’s wealth. Thus, after having done it's business, the paper is reduced to the sixtieth part of its original value"

--Benjamin Franklin; letter to Thomas Ruston (Oct. 9, 1780)

 

[bripat9643]

You found one quote that endorses confiscation. Congratulations.

Everyman who signed the Constitution disagreed.

"With this paper, without taxes the first three years, they fought and baffled one of the most powerful nations in Europe. They hoped, notwithstanding its quantity, to have kept up the value of their paper. In this they were mistaken. It depreciated gradually. But this depreciation though in some circumstances inconvenient, has had the general good and great effect of operating as a tax, and perhaps the most equal of all taxes, since it depreciated in the hands of the holders of money, and thereby taxed them in proportion to the sums they held, and the time they held it, which generally is in proportion to men’s wealth. Thus, after having done it's business, the paper is reduced to the sixtieth part of its original value"

--Benjamin Franklin; letter to Thomas Ruston (Oct. 9, 1780)

When did anyone ever claim the Founding Fathers were opposed to taxation?

 

[Antiderivative]

American exceptionalism; prisoner populations and arm deals.

 

[mnbasketball]

I don't see the argument for giving anything back to the government when taxes have already been paid.

If that was true, but it's a proven fact that 59% of what is passed on has never seen any tax. It's money that was never taxed which earned more money that wasn't taxed, and then passed on.

But of course you think your right because those with billions are your hero's and of course they couldn't do anything like that. LOL what a joke.

TEDDY ROOSEVELT ON THE ESTATE TAX, 1910:

We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community … The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.
Let's be honest about estate tax merits | Rochester Business Journal New York business news and information
Podcast: Next Steps on the Estate Tax — Center on Budget and Policy Priorities

 

[Agit8r]

I don't see the argument for giving anything back to the government when taxes have already been paid.

If that was true, but it's a proven fact that 59% of what is passed on has never seen any tax. It's money that was never taxed which earned more money that wasn't taxed, and then passed on.

But of course you think your right because those with billions are your hero's and of course they couldn't do anything like that. LOL what a joke.

TEDDY ROOSEVELT ON THE ESTATE TAX, 1910:

We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community … The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.
Let's be honest about estate tax merits | Rochester Business Journal New York business news and information
Podcast: Next Steps on the Estate Tax — Center on Budget and Policy Priorities

well, it was part of the party platform...

Progressive Party (United States, 1912) - Wikipedia, the free encyclopedia

 

[MikeK]

Oh?

Are you saying you just want to give all that wealth back to the government? So that they can give it to people who haven't earned it?

Immie

It seems you know something good that I'd like to find out about. If the government is giving out money to people who haven't earned it, can you tell me how I can get some? Do I need any special qualifications to qualify?

Thanks.

 

[MikeK]

What the hell is the merit Based society BS anyways. Millions in the country live on government hand outs, not their own merits. Yet you want to tell hard working Americans, that they can not pass down the money they earned and paid taxes on. To their descendants. What has to be wrong with ones mind to think the Government even as the right to consider something like this, let alone do it.

Did anyone suggest a prohibition against legacy? Or have you reached the level of hysteria in your partisan fanaticism?

A tax is not total confiscation. Do you not think there should be a tax on inheritance?

 

[Ragnar]

What the hell is the merit Based society BS anyways. Millions in the country live on government hand outs, not their own merits. Yet you want to tell hard working Americans, that they can not pass down the money they earned and paid taxes on. To their descendants. What has to be wrong with ones mind to think the Government even as the right to consider something like this, let alone do it.

Did anyone suggest a prohibition against legacy? Or have you reached the level of hysteria in your partisan fanaticism?

A tax is not total confiscation. Do you not think there should be a tax on inheritance?

The question on the table from the OP is this:

Inherited wealth. Any justification?

The answer, overwhelmingly is largely that it need none.

 

[CaféAuLait]

What the hell is the merit Based society BS anyways. Millions in the country live on government hand outs, not their own merits. Yet you want to tell hard working Americans, that they can not pass down the money they earned and paid taxes on. To their descendants. What has to be wrong with ones mind to think the Government even as the right to consider something like this, let alone do it.

Did anyone suggest a prohibition against legacy? Or have you reached the level of hysteria in your partisan fanaticism?

A tax is not total confiscation. Do you not think there should be a tax on inheritance?

The basis of this poll and the person who started such suggests that none should exist along with his/her comments on this thread. Their premise is those inheriting such did nothing to deserve such since it is “against the American Way” in rewarding someone who has not worked or has not merited such a legacy. Read their posts.

 

[Agit8r]

What the hell is the merit Based society BS anyways. Millions in the country live on government hand outs, not their own merits. Yet you want to tell hard working Americans, that they can not pass down the money they earned and paid taxes on. To their descendants. What has to be wrong with ones mind to think the Government even as the right to consider something like this, let alone do it.

Did anyone suggest a prohibition against legacy? Or have you reached the level of hysteria in your partisan fanaticism?

A tax is not total confiscation. Do you not think there should be a tax on inheritance?

The basis of this poll and the person who started such suggests that none should exist along with his/her comments on this thread. Their premise is those inheriting such did nothing to deserve such since it is “against the American Way” in rewarding someone who has not worked or has not merited such a legacy. Read their posts.

Even though they might not have earned it, we tolerate people getting what they haven't earned all the time. There are the ever-demonized welfare recipients, those co-workers whose slack we have to pick up (who usually have that job because of some cronyism, but that is another story...). In any case we tolerate such things, but ONLY TO A POINT.

 

[mudwhistle]

Did anyone suggest a prohibition against legacy? Or have you reached the level of hysteria in your partisan fanaticism?

A tax is not total confiscation. Do you not think there should be a tax on inheritance?

The basis of this poll and the person who started such suggests that none should exist along with his/her comments on this thread. Their premise is those inheriting such did nothing to deserve such since it is “against the American Way” in rewarding someone who has not worked or has not merited such a legacy. Read their posts.

Even though they might not have earned it, we tolerate people getting what they haven't earned all the time. There are the ever-demonized welfare recipients, those co-workers whose slack we have to pick up (who usually have that job because of some cronyism, but that is another story...). In any case we tolerate such things, but ONLY TO A POINT.

We tolerate generational theft.

 

[editec]

I think there's good social reasons to tax truly massive estates.

If a scion cannot make it starting out with over 100 years worth of the median family's pretaxed income in their pockets (that $5 million in cash tax free) then seriously, why not?

Too much dough in the hands of too few people is not good for the economy or the society.

It's not fair, you complain?

Yeah, a lot that happens in this world isn't fair, I quite agree.

Get used to it.

 

[mudwhistle]

I think there's good social reasons to tax truly massive estates.

If a scion cannot make it starting out with over 100 years worth of the median family's pretaxed income in their pockets (that $5 million in cash tax free) then seriously, why not?

Too much dough in the hands of too few people is not good for the economy or the society.

It's not fair, you complain?

Yeah, a lot that happens in this world isn't fair, I quite agree.

Get used to it.

Perhaps it's better that we have no rich here in America.

No more NFL owners. No more donations to universities like Harvard from wealthy allumns.

I mean, the rich never contributed to American society.

 

[California Girl]

Oh?

Are you saying you just want to give all that wealth back to the government? So that they can give it to people who haven't earned it?

Immie

It seems you know something good that I'd like to find out about. If the government is giving out money to people who haven't earned it, can you tell me how I can get some? Do I need any special qualifications to qualify?

Thanks.

Thank you for confirming the attitude of many on the left. Fucking greedy little twits who want something for nothing. Get a job.

 

[editec]

I think there's good social reasons to tax truly massive estates.

If a scion cannot make it starting out with over 100 years worth of the median family's pretaxed income in their pockets (that $5 million in cash tax free) then seriously, why not?

Too much dough in the hands of too few people is not good for the economy or the society.

It's not fair, you complain?

Yeah, a lot that happens in this world isn't fair, I quite agree.

Get used to it.

Perhaps it's better that we have no rich here in America.

No more NFL owners. No more donations to universities like Harvard from wealthy allumns.

I mean, the rich never contributed to American society.

As long as the social contract is based on capitalism we need CAPTIALISTS just as we need WORKERS.

The rich are the folks who take a share of the wealth produced by the nation's workers and save it for reinvestment so that other workers will also find work to create still more wealth.

But whe the capital formation does NOT go back into investments in the nation that created that wealth to begin with?

Then the system isn't going to last very long.

And we are now beginning to feel the effects of policies that allowed the weath created by the RICH and the WORKERS of this nation migrating to foreign shores thus putting millions of Americans out of work.

If you can't see what's wrong with that picture, I'm not sure that you're somebody whose thoughts regarding our macro-economy are worthy of my consideration, kid.