Anonymous on Nostr: The idea of an inheritance tax is asinine to me. You get taxed federally and locally ...
The idea of an inheritance tax is asinine to me.
You get taxed federally and locally on your income where I live. Anything you buy with your already taxed income, is then taxed again. If I invest it, I am taxed ib ny capital gain profits. So you’re now taxed twice, all to be taxed for a third time when you leave it to your successor.
You make $100. You take home $70. You invest $70. You get it to $140. You’re left with $120 after capital gains. When you leave that to your child, they get $100. The investment you made effectively just brings you back to what you produced before it was *stolen* from you in the first place.
You get taxed federally and locally on your income where I live. Anything you buy with your already taxed income, is then taxed again. If I invest it, I am taxed ib ny capital gain profits. So you’re now taxed twice, all to be taxed for a third time when you leave it to your successor.
You make $100. You take home $70. You invest $70. You get it to $140. You’re left with $120 after capital gains. When you leave that to your child, they get $100. The investment you made effectively just brings you back to what you produced before it was *stolen* from you in the first place.