A NEW INCOME

A New Income Q&A

Q: Death (estate) taxes? How are these legal? Are they wrong? If not, why?

I would like some honest opinions on the estate tax. I am not a republican, so I know I'm supposed to be all for them, but I'm far from that. Here is my view, please read and then give me yours. If my father works his entire life and pays taxes on every penny he makes, those funds have already been taxed. Because he leaves them to me, I am, according to the government, getting "NEW INCOME" that should also be taxed (At a much higher rate than anything I earn from a job mind you). However, I don't see it this way. The money is not new income to my family. It has been in our family since my father began working. Being a part of the family, directly related to him by birth, it would seem to me that they are double taxing this money (property, assets..etc). Why does the government deserve to take more of the money that they have already collected taxes on? Some families who run businesses often times lose their business because they cannot pay the taxes on the business's value. Does it not seem like this is comepletely wrong and against our constitution (No double taxation)? I see this happen in many other ways as well, such as having both a federal and a state tax, that is indeed double taxation as it is all going to an entity of the US government, regardless if it is at state or federal level. How can this be changed? Would the surpreme court decide for or against these taxes? How would one go about getting the case to the supreme court to begin with? The us government is greedy, money hungry, and just plain wrong when it comes to our taxes. Furthermore, don't you think we, as the people who are paying these taxes, should have more say on what they're spent on? I'm sorry, but spending 1.5 million of the tax payers money one one single missle seems to me to be a giant waste of funds. That one missle costs more than I will probably earn in my lifetime. So much unfairness in politics. As to only the wealthy being taxed in this matter, I do come from a very wealthy family. I am not bragging, because I don't see a penny of it myself, but at the same time, why should those who have worked hard all their lives and became wealthy by this work, suffer? Why should they have to give up such a massive amount of their own money while others do not? No, this country is backwards in how it runs things. As for me not understanding estate taxes, I don't know many people who do. I do know that when my grandmother died, she left my mother her antique shop. My mother (Who is not married to my father any longer, and not wealthy) had to sell the shop because the government wanted a % of what the shop was worth before they would give it to her, and she couldn't pay that, so she lost it. On the flip side, how is this good for the economy if estate taxes can contribute to small businesses going out of business? Why pass a law that only benefits a few? The same could be asked, only opposite. Why pass a law that only punishes a few? So by your statement, I would have to assume that you are not wealthy, and you do not want to see your taxes increased, so it is fine for you that the rich must lose part of their family estate when it comes time to pass it down. Doesn't seem very fair to me?

A: Estate taxes are wrong and are an infringement on our freedom. Democrats love to fan the flames of class warfare and this is one of their favorite taxes. Everyone should be concerned about loss of freedom. For government to steal my choice of what I want to do with MY money and effectively confiscate a large portion of my assets because they feel entitled to, is absolutely ludicrous. Shame on those envious losers who support this confiscatory tax on success, and politicians who use it as an issue to get elected. Shame on them all.

A New Income Q&A A New Income