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Saturday, July 19, 2014

Estate taxes


(paraphrase) John Oliver:  "You (anti tax folks) shouldn't be complaining about the estate tax (which you call the death tax) because they are doing exactly what you want:  They are taking your money over your dead body."

8 comments:

  1. Nice line, but I did have to look up John Oliver.

    Death is an interesting demarcation in that it forces a redistribution of wealth. The concept that we can specify what happens to our wealth after we die may be well accepted, but it is still just a social construct.

    Assuming that laws were in place to prevent asset transfers prior to death to avoid the law, what would people do with their estate assets prior to death if the Government passed a law requiring that, upon death, all estate assets transfer to the Government. i.e wills would be moot.

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    1. What would people do with their estate assets prior to death if the Government passed a law requiring that, upon death, all estate assets transfer to the Government?

      Exactly what they are doing now. Buying media and lobbyist to get the law repealed.

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    2. I don't have any problem with the estate taxes. But it is kind of painful that so many view with such joy the fact that they get to use the government to take other peoples money away from them (or their heirs).

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    3. As in "Thou shalt not steal, except by majority vote".

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  2. John Oliver has been killing it on his new show.
    “It also doesn’t apply to 99.86% of anyone’s estates. Basically, if If you’re not comfortable calling your accumulation of shit an estate, the estate tax probably doesn’t fu$%ing apply to you. and yet a man worth 1/4 of a billion dollars {Mitt Romney} gets applause for saying “lets get rid of it”. Heirs don’t have to pay taxes on the first $5.3 million that you leave them…”

    You know what, just watch the clip.

    You can watch the full segment here: http://www.youtube.com/watch?v=LfgSEwjAeno&t=7m1s

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    Replies
    1. I will try to catch Mr. Oliver’s show.

      Question – if the issue/argument is wealth why does Romney get vilified and the Oracle of Omaha gets Sainthood?

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    2. That's actually a pretty good question. The answer to me is probably what they say they are going to do with their fortunes after they die, and what they have done with them now.

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    3. I would say it is because Buffet supports the liberal view on taxes and is no threat to them.

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