Maxprop wrote:

"Walt" wrote in message
...

Maxprop wrote:

"Walt" wrote in message


A guy who busts his ass working as a plumber or a ditch digger pays a
higher rate than a guy who makes much more flipping condos or bonds.

Oh really??? Did you conveniently omit the capital gains tax, or just
forget about it.

No. The tax on capital gains is lower than the tax on labor. Look it up
in the tax tables. Don't forget to include payroll taxes.



And the guy who makes money flipping condos in turn pays a higher rate
than the lucky offspring of the well to do who "earn" their fortune
simply by virtue of outliving their parents.

The heirs don't "earn" anything. They inherit the money their
progenitors have *already paid taxes upon.* So you'd tax that money
again? Why?

Every time money changes hands, it's taxed. If I pay a plumber to unclog
my drains, he pays income taxes on it. Yes, I've already paid income taxes
on the money I used to pay him, but that's the way it works. And if he
uses the money to tip a waitress at lunch, she pays taxes on it. And if
she hires a gardener, the gardener pays income taxes on the money he's
paid. And if he hires somebody for something, that person pays too. etc.
etc. etc.


Are you serious? Do you really fail to see the difference?


That's the way income taxes work. Why you want to make a special
exemption for the progeny of the idle rich is beyond me.


Hmmm. A bit of prejudice showing here, Walt. I seriously doubt that the
wealthy got that way by being idle. Of course anyone with more than you
must be a lazy *******, right?


Is it because they don't "earn" it? Are you really so gullible that you
think you're going to be one of them some day?


Oh wait--you're in favor of punitive taxation. I almost forgot.

WHACK that strawman, Max. WHACK it like you mean it. C'mon, you can do
it.


Take a Prozac and call me in the morning.

Earned income is taxed, and should be. Wealth passed from family member to
family member is an entirely different situation. If it were the same,
inheritance would be taxed at the same rates as earned income, but it is
not.

That's a nice circular argument there. Income derived through
inheritance should be taxed at a different rate because the tax code
treats it that way. Nice.


It is taxed exorbitantly, typically at around 50%.

Not quite. Currently it is taxed at a maximum rate of 45%, with the
first $2 Million exempt from the tax.

And it will be ZERO in a couple of years. Do you think zero is an
appropriate rate?

See http://beginnersinvest.about.com/od/...atetaxrate.htm

And it affects the
not-so-rich (struggling small businesses, etc.) as well as the "idle
rich."


The struggling family business or family farm that is adversely affected
by due to the estate tax is largely an urban legend.

See http://www.factcheck.org/article328.html

//Walt