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Inheritance Taxes Discourage Oligarchy. Hence libertarian types hate inheritance taxes

Discussion in 'BBS Hangout: Debate & Discussion' started by glynch, May 8, 2014.

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  1. glynch

    glynch Contributing Member

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    As we see for the most part there is little difference in libertarians vs conservatives wrt to economics.

    One of the most effective ways to prevent oligarchies is to have stiff inheritance taxes. In the 1990's we saw the Republicans virtually eliminate inheritance taxes which will increase oligarchy in the US. They cleverly called such taxes "death taxes" and found the less than one in a hundred (correction less than 1 in 1000 plus)family farms lost due to such taxes to make their stalking horse for the movement.

    Hard to imagine but in the recent past, even most Republicans believed in taking steps to limit inherited aristocracies and give everyone more of a level playing ground.
     
    #1 glynch, May 8, 2014
    Last edited: May 9, 2014
  2. CometsWin

    CometsWin Breaker Breaker One Nine

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    But glynch... the family farms! ;)
     
    #2 CometsWin, May 8, 2014
  3. Steve_Francis_rules

    Steve_Francis_rules Member

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    You know who loves the inheritance tax? Warren Buffett! He once said eliminating the inheritance tax would be like "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics."

    Of course, that was several years before he named his son as his successor at Berkshire Hathaway. I wonder if that would be anything like letting the gold-medal winners in the 2000 Olympics appoint their own kids as members of the 2020 Olympic team.

    I realize this has nothing to do with the merits of the inheritance tax, I just figured this would be a good place for me to voice my annoyance over Buffett's hypocrisy.
     
    #3 Steve_Francis_rules, May 8, 2014
  4. rudan

    rudan Member

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    If I am lucky enough to have 1 million in the bank when i die, I would like my kids to have it and not have the government buy Obama phones for a bunch of crack dealers.

    JUST BECAUSE MOST DEMOCRATS DONT HAVE ENOUGH BRAIN POWER TO SAVE MONEY FOR THEIR KIDS, DOESNT MEAN YOU HAVE TO TAKE IT FROM THE PEOPLE WHO DO :mad:

    I feel sorry for the worthless people who sit around all day depressed that people have control over their own Damn money. How bout you get off your arse and put some money in the bank for your future or maybe even future generations? Oh yeah that's right, crack still cost money and your e.b.t card don't cover it yet :rolleyes:
     
    #4 rudan, May 8, 2014
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  5. Dave_78

    Dave_78 Member

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    Drunk
     
    #5 Dave_78, May 8, 2014
  6. glynch

    glynch Contributing Member

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    Instead of just saying n******* with Obama phones they use "crack dealers" to dog whistle their fellow racists when in a larger forum.

    Now what race has to do with whether the US should return to the dislike of an inherited aristocracy as the founders had when fleeing the aristocracies of Europe is not clear. It is as the OP shows used to divide the folks who don't support an inherited aristocracy.
     
    #6 glynch, May 8, 2014
    Last edited: May 8, 2014
  7. Buck Turgidson

    Buck Turgidson Member

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    Yes? Well, ranches actually.

    Honest question to yall, where do you draw the line? How much "land rich, cash poor" equals what you consider the 1%? How would you structure an estate tax that works for both the "trust fund" families and the rest of us quasi-normal hippie-redneck country folk?

    Another question, are you a conservationist? In the open/green space sense? In other words, when we sell it, who do you think is buying and what do you think they are going to do with it?
     
    #7 Buck Turgidson, May 8, 2014
  8. glynch

    glynch Contributing Member

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    Accepting the above as honest and not a deceptive talking point, I decided to google to see how many farms/ranches cited by the Waltons, Koch etc are actually lost. Turns out my 1% estimate was probably at least 100 times too high. There are just a handful.

    .http://faireconomy.org/news/estate_tax_faqs

    As far as conservation, there can be many remedies. I suspect there are provisions for tax breaks if you donate your land to the Nature Conservancy or the Feds. Besides if you allow transfer tax free of a struggling farm to the kids the probability of them selling are logically high.

    So, Buck, you wish to have an aristorcracy for a handful of family farms and a rather spurious feint on conservancy.
     
    #8 glynch, May 9, 2014
    Last edited: May 9, 2014
  9. Buck Turgidson

    Buck Turgidson Member

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    How could I NOT want to have a serious conversation with you? You're about as charming as herpes.
     
    #9 Buck Turgidson, May 9, 2014
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  10. FranchiseBlade

    FranchiseBlade Contributing Member
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    I would hope that people have learned the whole buying phones scandal turned out to be a phony one, just like the IRS scandal did.

    Also I don't know what crack dealers you use, but the crack dealers I go to, all accept EBT payments. They're cool like that. In addition they have kind of a crack 401K retirement plan they set up for me. So I will be set up for life.

    Now to make a call on the smart phone Obama bought for me.
     
    #10 FranchiseBlade, May 9, 2014
  11. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    If you have a million in the bank when you die, it won't be subject to inheritance taxes, which kick in at a much higher level.

    I guess, based on your statement, that Republicans aren't smart enough to understand how inheritance taxes work.
     
    #11 GladiatoRowdy, May 9, 2014
    Last edited: May 9, 2014
  12. glynch

    glynch Contributing Member

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    Hey, I did give you the benefit of the doubt that you had innocently bought the disengenuous talking point of a handful of struggling family ranches/farms as a serious reason not to have inheritance tax on billionaires and multi-millionaires.

    Hopefully you don't continue to fall for it and have learned something.
     
    #12 glynch, May 9, 2014
  13. Commodore

    Commodore Contributing Member

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    If you aren't able to control the fruits of your labor, you are a slave.

    Gynch, your propensity to make your opponent's arguments for them is pretty pathetic. The definition of knocking down a straw man.
     
    #13 Commodore, May 9, 2014
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  14. bobrek

    bobrek Politics belong in the D & D

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    With respect to Federal taxes, there is no such thing as an inheritance tax. The heir is not taxed, the estate is.
     
    #14 bobrek, May 9, 2014
  15. Commodore

    Commodore Contributing Member

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    the owner of the estate is taxed, posthumously
     
    #15 Commodore, May 9, 2014
  16. glynch

    glynch Contributing Member

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    Hey, are you starting to get it?

    Your employer controls the fruits of your labor, but, hey, if you dare, you could ask for a small raise, provided you do it politely enough to get a little more fruit.
     
    #16 glynch, May 9, 2014
  17. glynch

    glynch Contributing Member

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    And you and I are taxed to make up for those taxes not collected on these multimillion dollar estates.

    It is why you have to be so resentful of those folks like Walmart employees whose food we have to subsidize with our tax dollars.
     
    #17 glynch, May 9, 2014
  18. Commodore

    Commodore Contributing Member

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    It's a voluntary negotiated contract. Permission and control doesn't enter into it.
     
    #18 Commodore, May 9, 2014
  19. glynch

    glynch Contributing Member

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    I know you love to be abstract, but you have to accept that humans are, well, human. Humans need to eat and have shelter etc. so this is used to prevent voluntary negotiations free of coercion by those who need food and shelter.

    Ok, let's play your game for a bit. You paying taxes in the US is voluntary. I am assuming you at least have some limit left on at least one credit card, so get yourself a passport and move to Somalia or some place that has almost no taxes. Realistically that miht be the best you can do. However, you might be able to find one of those islands libertarians talk about where you can avoid all taxes. Good luck in your voluntary labor contracts with the folks owning the island.
     
    #19 glynch, May 9, 2014
  20. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    Everyone in America is able to control the fruits of their labor, once they have paid the taxes required to keep the infrastructure which allowed them to labor in the first place running.
     
    #20 GladiatoRowdy, May 9, 2014
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