4 ms·
Inherited wealth is already taxed at source. Taxing it again is double taxation. What is being levied is basically a death tax. You are taxed because you died.
by jelliclesfarm 6y ago
Inherited wealth is already taxed at source. Taxing it again is double taxation. What is being levied is basically a death tax. You are taxed because you died.
Your statement is a gross misunderstanding of tax codes. Inheritance should not only be protected from excessive taxation, it shouldn’t be taxed at all in the first place. It is literally taxing Death.
- stolsvik 6y agoWhy is “taxing Death” a problem?
- jelliclesfarm 6y agoA death tax says that the govt would gain/profit from someone dying. Family is the only way to remain immortal and inheritance is transferring assets to extensions of one’s own DNA. Because DNA..it can be argued is ‘property’. The state can levy a small fee to retire identity of the deceased for legal purposes. But other than that, transfer of wealth being taxed is theft.