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People who think like this support the inheritance tax:
Unlike income tax which makes you give up something you worked hard for, or sales tax which makes you pay more for something you need or want, the inheritance tax money comes from people who won't miss it. Unless you want to maintain social classes and let some people live a life of luxury without doing any work, the inheritance seems like a good way to raise necessary government funds. Children of rich parents already enjoy the best schools where they make lucrative social and business contacts and many have been handed a well-paying job, have been given a house and a trust fund. How badly do they need one more hand-out ?
Surely the inheritance tax should be set up so that dependent spouses and children will not be denied support and so that family businesses will not be destroyed, but why should not competent adults pay a tax on their inheritance windfall which they did nothing to earn or deserve?
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∙ 13y ago
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Does Minnesota have an inheritance tax?
No. Minnesota does not have an inheritance tax.
Is there inheritance tax for 2010?
there is no inheritance tax in 2010
Pay tax on inheritance in Canada?
do you have to pay tax on inheritance
What is the Virginia STATE inheritance tax rate?
Virginia does not have an inheritance tax. But they do have an estate tax.
What is inheritance tax limits?
Inheritance tax limits are basically limits of tax that the company has to pay from the inheritance of the dead. This would then regulate the inheritance rate from the life insurance.
Is there inheritance tax in Tennessee?
Effective beginning in 2016 Tennessee eliminated the state inheritance tax.
Does West Virginia have an inheritance tax?
West Virginia does not have an inheritance tax.
Does Arizona have an inheritance tax?
No, Arizona does not have an inheritance tax. Inheritance tax is a state tax that is imposed on the beneficiary of an inheritance, while estate tax is imposed on an estate before it is distributed to beneficiaries.
Does WA have an inheritance tax?
Washington state replaced its inheritance tax with an estate tax in 1982.
Who can tell me what is inheritance tax?
Inheritance tax is the tax that you have to pay if you gain some kind of income through an inheritance fund. It is like adding to the income you gain through inheritance.
Do you pay income tax on inheritance?
No Federal income tax due on inheritance.
Do you have to pay inheritance tax if it was passed from your grandparents to you?
Inheritance tax laws vary by country and state. In some jurisdictions, there may be exemptions or lower tax rates for inheritances passed down from grandparents to grandchildren. It's best to consult with a tax professional to determine the specific implications in your situation.
