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lendluke December 15th, 2017 9:24pm

Currently, inheritance valued above 5.49 million dollars is taxed at 40%. Should the estate tax be removed or kept?

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mfjd1948 rural johnson co iowa
12/21/17 1:57 pm

There should be a limit to how much can be passed on to another individual. Say a million each. Otherwise, we get idiots like Trump.

lendluke iowa
12/17/17 9:39 am

Sorry I forgot to mention the 5.45 million number is per a parent so if two parents die, 11 million could be shared by family before the 40% tax comes into effect.

monkees19 New Jersey
12/15/17 10:24 pm

There shouldn't be an estate/inheritance tax, period.

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evoecon nearest binary system
12/15/17 6:52 pm

Government enforced Envy.

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mcable Lost in Translation
12/15/17 5:59 pm

Bunch of temporarily embarrassed millionaires, eh? I am in the 2% of income earners in this country and I won't die with that much, adjusted for inflation. Almost none of you will. Those who do... congrats! And suck it up, cupcake!

EarlyBird Portland
12/15/17 4:07 pm

I’m totally against such a high inheritance tax. Don’t forget that on top of the federal tax, there’s a state tax. I think Oregon’s is 16% but I’m too lazy to look it up.
It seems criminal to me.

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doober72 Vidalia, Ga.
12/15/17 3:56 pm

The money has ALREADY been taxed. Why tax it again?!

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smart1
12/15/17 3:56 pm

Those with serious money don’t pay one cent in inheritance tax. Trust funds. Trusts. Foundations. Off shore accounts. So it matters not if the rate is 25% or 75%. It will never be collected.

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PhxLibertarian Republic of Dave
12/15/17 4:43 pm

Smart, actually those who pay the tax most often are farmers. Large family farms located where property values have risen can't exactly hide their assets. I have read that one as a stat, and I would guess that #2 would be small family owned businesses.

smart1
12/15/17 4:52 pm

PHX. I agree. My comments were directed to the 1%ers. Should have been more specific. Having said that, I’m going to go out on a limb and say that the percent of taxed inheritance from small business and family farms would be dwarfed by the taxed inheritance of the 1%ers if they didn’t work the system.

cherry111
12/15/17 3:05 pm

40% is ridiculous. It should be lowered to 25% tops.

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Metamorphosis
12/15/17 2:33 pm

Most people who inherit large sums of wealth become unproductive parasites on society. It is bad for the country and, as hard as it might be to believe, it is bad for the recipients of the wealth. If you don't like the wealth going to the government, then we could use it to provide better care for our veterans.

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lendluke iowa
12/15/17 2:42 pm

I completely agree that children being left with a huge sum of money is very often bad for them, but should it not be the right of the parent to choose to leave their children a huge sum of money when they die?

Metamorphosis
12/15/17 2:49 pm

Again, this might seem counterintuitive but no. If I were a billionaire, I would probably leave a great deal of wealth to my heirs even though I know it would be detrimental to them in the long run. I couldn't help myself.