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So you want it to just be illegal for any person to gift money to another person?
by dexterdog 7y ago
So you want it to just be illegal for any person to gift money to another person?
- kaibee 7y agoI think there is a reasonably balance to be found somewhere between not being able to give your friend 5$ and being able to make everyone even tangentially related to you into billionaires that do nothing but collect and spend the interest on their wealth.
- dexterdog 7y agoBezos is with about $110B. He is "tangentially related" to far more than 110 people. There is a solid track record of inheritors of massive wealth pissing it all away in a generation or two so you don't have to worry too much about it.
- kaibee 7y ago> There is a solid track record of inheritors of massive wealth pissing it all away in a generation or two so you don't have to worry too much about it. I don't think wasting billions of dollars is any better.
- decoyworker 7y agoThe person receiving should count it as income and have it taxed accordingly.
- dexterdog 7y agoGifts are taxable above a certain point which is kind of crazy since taxes were already paid on the initial income.
- decoyworker 7y agoA lot of things are taxed multiple times. I pay income tax, then use that taxed income to purchase a vehicle which carries a sales tax, and for awhile I even paid a tax on the value of that car annually. Same money being taxed multiple times. All recurring property tax can be viewed this way. Inheritance or gifts should absolutely be taxed as income to the person receiving.