Inheritance Tax; - it is, broadly speaking; a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue
Inheritance taxes are so high that the happiest mourner at a rich man's funeral is usually Uncle Sam.
I believe in a graduated income tax on big fortunes, and in . . . a graduated inheritance tax on big fortunes, . . . increasing rapidly in amount with the size of the estate.
Now they got such a high inheritance tax on 'em that you won't catch these old rich boys dying promiscuously like they did. This bill makes patriots out of everybody. You sure do die for your country if you die from now on.
In this world nothing can be said to be certain, except death and taxes.
The only difference between death and taxes is that death doesn't get worse every time Congress meets.
The estate tax punishes years of hard work and robs families of part of their heritage by imposing a huge penalty on inheritance after death - a tax on money that has already been taxed.
We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.
Income and inheritance taxes imply the denial of private property, and in that are different in principle from all other taxes. The government says to the citizen: “Your earnings are not exclusively your own; we have a claim on them, and our claim precedes yours; we will allow you to keep some of it, because we recognize your need, not your right; but whatever we grant you for yourself is for us to decide.
When I was young, my father had a serious heart attack. He survived, but we lost our house and car. Under the Canadian Medicare system, though, we would have kept the house and car and would have just had to pay the inheritance tax.
I have issues with inheritance tax, particularly coming from a migrant family. My dad has worked incredibly hard all his life, so it seems odd to me that someone who has gone through that experience and has managed to save then gets taxed for dying.
I don't see why a man shouldn't pay an inheritance tax. If a Country is good enough to pay taxes to while you are living, it's good enough to pay in after you die. By the time you die you should be so used to paying taxes that it would just be almost second nature to you.
It seems to me that the least deserving recipients of wealth are inheritors. Further, there are many indications that inheritors often have trouble adjusting to their unearned inheritance. An inheritance tax would de facto help remedy this.
More astronauts have been to the moon than farmers who paid the inheritance tax in 2013.
It is not fair that people who are born in the UK to parents who are domiciled here, can later in life claim to be non-doms and live here, it is not fair that non-doms with residential property here in the UK can put it in an offshore company and avoid inheritance tax.
I was determined not to become an American citizen but I did it for completely cynical reasons: to avoid paying inheritance tax in the U.S.
Get a sales tax, small on necessities and large on luxuries; then a stiff inheritance tax on the fellow that saves and don't spend. That will get him either way. A tax paid on the day you buy is not as tough as asking you for it the next year when you are broke.
Imagine his delight after it 'leaked' that he will propose raising taxes on the wealthy by $320 billion over the next 10 years, including increases to the capital gains and inheritance taxes.
They have passed the big inheritance tax, and that gets you when you are gone. You used to could die and be able to beat taxes, but not now. The undertaker don't go over your body as carefully as the assessor does your accumilated assets, and he gets his before the undertaker. They have it on these big fortunes now where they pay as high as 60 to 70 percent of what they leave. That's mighty expensive dying when it runs into money like that, and you won't see 'em dropping off as casually as they have been.
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