Replies to post #62334 on Zeev's Turnips Patch-No Politics (ZEEV)

[Captain_Jack]

Joe-- I agree the inher tax is rediculous in many situations. Particularly sm farmers that have a very tough time in the best of times. Same situation,, huge companies buying the small & mid size guys out due to taxes. Not pleasant.
Like you I have no problem paying fair & equitable taxes, not even paying a little more than my share. But I certainly get tired of hearing the whinning of some.
As for double taxing anything-- it just gets me POed!
<<VBG>> I tell my kids if I leave them anything it is only because my timing was off. Still,, I'll completely retire this year @ 55,,, how much can one reasonably spend in the years left? There are some needy charity orgs. And grandchildren can have a little BRK & kids get some bux BEFORE the tax guy gets the majority. Which one wants the condo @ the shore & who the boat? Giving now we can see their happiness and later we would not know or care. At some point there is little reason to make more except for fun & I've hit that point,, just winding out part of the year. Will play the mkt a bit & build a few houses or apt bldgs as a hobby. Kids & their spouses have set their own careers so all we can do is add a few additional smiles to their lives & be thankful we are able.

[SoxFan]

Joe - the reason our government went after inheritance tax was because when the tax code was first developed the "payroll income tax" was miniscule and we did not want to end up like England where many of the upper crust had never worked a day in their lives but inherited their money. As a country that wanted each individual to earn their way and work we did not want to develop a class of people the lived off inherited wealth. Unfortunately or fortunately there is a growing population in America that is living off the work of their ancestors and contribute nothing to society.