Posted: Mar 26, 2014 8:47 pm
Does the money get taxed more than once? Yes it does. Will what's left of it be taxed again as whoever gets it spends it? Yes it will.
I could drink like a fish, smoke like a chimney and go on as many holidays as I can fit in. I could blow it all on hookers and drugs and arrive at the final accountant's office flat broke and nobody cares. But if I choose to save some of my money to give my kids a hand in life, just as I did when I fed them, clothed them, taught them to read and write, saved for their college fund etc suddenly when I die that's wrong? Fuck that shit!!
You may argue that that's good or bad; right or wrong. But can we drop the lie please? Inheritance tax is not some kind of double tax ON WHAT PEOPLE HAVE EARNED. The person who did the work, who "earned" the money is a fucking corpse and can't possibly react any differently to whatever you choose to do with the wealth that they USED TO enjoy.
It isn't a lie, it's a tax on being sensible with your money and wanting to help your kids out when you die. It is money that has been taxed already as it was accrued
It's a tax on entirely unearned wealth accruing to people who happened to come out of a particular birth canal. As such, it must be a far superior way to maintain a functioning state while respecting the importance of reward FOR LABOUR, than income tax. If gathering a certain amount in inheritance tax allows income taxes to be lower, that has to be a better way of allowing people to achieve the level of wealth their own labour actually deserves.
And it's my money/property. Do explain what incentive there is for me to save my money or own my house etc come the end of my days if it's just going back into the communal pot. I may as well just piss it up the wall because I'm fucked if I'm giving it to the government.