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They aren’t taxing love they’re taxing money. We always tax money when it transfers from one person or entity to another.
by CPLX 3y ago
They aren’t taxing love they’re taxing money.
We always tax money when it transfers from one person or entity to another.
- bluedevil2k 3y agoNo we don’t. In fact we rarely tax intra-family money transfers. When I pay for my kids’ college, that’s not taxed. Buy then a car at 16 - untaxed.
- CPLX 3y agoRight and give them the car two years later and it is taxed, subject to the gift tax exceptions and so on. Proving my point that the rule is that money is taxed when it changes hands and the exceptions are exceptions.
- sokoloff 3y agoA couple gifting their 18 (or 38) year old kid a car is unlikely to exceed the gift tax exemption.
- Patxitxi 3y agoWe should tax money to use it for love. Not love money to not use in anything else than private enjoyment.