5 upvotes, 1 direct replies (showing 1)
View submission: On Rights of Inheritance - why high inheritance taxes are justified
I was responding specifically to your question of why an inheritance isn’t taxed *as an income*, and that’s because it’s already been taxed as one; but I’d also say none of the other taxes a wealth producer is subject to are levied against a specific amount of his money simply for having been earned; they’re procedural duties that he uses his earned income, whatever the amount, to pay. They’re independent of how much wealth has been earned and, to a certain degree, optional (except for sales taxes).
Comment by ABobby077 at 22/01/2020 at 19:04 UTC
0 upvotes, 0 direct replies
if we had an effective AMT and all wealth was taxed as earned income, then I might agree with what you state. Reality is that much wealth never was taxed.
(and no, I don't favor a "Wealth Tax"-I just believe there shouldn't be anyone with millions in earnings paying no or next to no taxes)