Novel coronavirus (2019-nCoV/COVID-19)

[mr2mike]

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The Laurentian lizard people have a plan. Introduce the 90% inheritance tax.

Your conspiracy theory on inheritance tax is a good one.
Someone proposed a 100% inheritance tax once.
Milton Friedman on why taxing inheritance is the stupidest thing society can possibly do. But Turdeau is up for the task.

[ExtraSlow]

Milton is not reputable

[max_boost]

So I should tell my parents to give me all their monies now? I am okay with that.

[mr2mike]

It is more and more beneficial to figure out how to pay less and less tax.
The rich have it nailed.

[ExtraSlow]

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So I should tell my parents to give me all their monies now? I am okay with that.

"it's for tax reasons mom" is surely a convincing argument.

[sabad66]

I think the US handles estate/inheritance tax pretty reasonably/fairly (at least in spirit - of course there are loopholes). Lifetime exemption of something like $12M, then everything after that is taxed.

I just can't feel sorry for anyone inheriting $12M tax free and complains about taxes on anything over that.

[max_boost]

Interesting I didn’t know 12mill was the number.

Most wealth is done by the 3rd generation anyway if not handled properly.

[Buster]

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I think the US handles estate/inheritance tax pretty reasonably/fairly (at least in spirit - of course there are loopholes). Lifetime exemption of something like $12M, then everything after that is taxed.

I just can't feel sorry for anyone inheriting $12M tax free and complains about taxes on anything over that.

Would you lower the exemption to something smaller than $12 million?

[max_boost]

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Would you lower the exemption to something smaller than $12 million?

7.2million

[mr2mike]

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Interesting I didn’t know 12mill was the number.

Most wealth is done by the 3rd generation anyway if not handled properly.

Yep. Money management seems to skip a generation.

[sabad66]

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Would you lower the exemption to something smaller than $12 million?

If you ask me on the spot, I’d probably say yes that $12m is pretty high to begin with. If I was a policy maker looking into this I’d need to hear other opinions and see other data to see what a more reasonable number might be. Maybe 12M ends up being ok.

Also let’s not forget that anything above the lifetime exemption is taxed - it’s not completely seized. So if they take 30% of anything over the exemption amount then whatever, the inheritor still gets quite a bit of cash for doing nothing (winning the lottery of who your parents are) either way.

[Buster]

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If you ask me on the spot, I’d probably say yes that $12m is pretty high to begin with. If I was a policy maker looking into this I’d need to hear other opinions and see other data to see what a more reasonable number might be. Maybe 12M ends up being ok.

Also let’s not forget that anything above the lifetime exemption is taxed - it’s not completely seized. So if they take 30% of anything over the exemption amount then whatever, the inheritor still gets quite a bit of cash for doing nothing (winning the lottery of who your parents are) either way.

Maybe it should be $100,000?

Or no exemption?

Maybe the rate should be moved to 75% instead of 30%?

[The_Rural_Juror]

Doesn't a lot of inheritance come from money that has previously been taxed as income or capital gains? I am ok with some redistribution of wealth so long as the government is decently useful.

- - - Updated - - -

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7.2million

Too low. That's practically 89wife's bonus.

[sabad66]

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Maybe it should be $100,000?

Or no exemption?

Maybe the rate should be moved to 75% instead of 30%?

If i become Finance Minister I would appoint you to head the new commission to determine what Canada's new inheritance tax should be. You certainly know how to ask the right questions.

Again i don't have a completely thought out plan for this, but my point was if Canada adopted the exact same thing as US it would be a decent start.

[dirtsniffer]

I don't understand the justification for taxing money that has already been taxed at the time of earning.

But I also think that property tax paid should be an income tax deduction so what do I know.

[Buster]

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If i become Finance Minister I would appoint you to head the new commission to determine what Canada's new inheritance tax should be. You certainly know how to ask the right questions.

Again i don't have a completely thought out plan for this, but my point was if Canada adopted the exact same thing as US it would be a decent start.

You seem to think that people should not be able to decide what to do with the fruits of their labour.

[revelations]

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Doctors Around the World Issue Warning Not to Get the Vaccine
---> https://www.bitchute.com/video/0kDWWs7KMiwK/

Healthcare Workers Refuse to get the Vaccine, 50% in a Cali County
---> https://notthebee.com/article/a-lot-...-covid-vaccine


Pfizer VP Yeadon - Chief Scientist for Allergy and Respiration has stated that the vaccine blocks a protein key in the formation of placenta in mammals and it is possible that Women can become infertile.
The UK Government has said that pregnant women should not take the vaccine and that women should not get pregnant until at least 2 months after getting the vaccine.

This all sounds reassuring...

id rather take a russian vaccine over anything the americans are putting out - not that its perfect yet either, stage III trials underway.

[JRSC00LUDE]

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I don't understand the justification for taxing money that has already been taxed at the time of earning.

But I also think that property tax paid should be an income tax deduction so what do I know.

There is none.

[sabad66]

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You seem to think that people should not be able to decide what to do with the fruits of their labour.

Earn as much money as you can and do whatever you want with it while you're alive, set EACH of your kids up extremely well (up to $12M no tax + anything over gets taxed), then anything left goes back into society to pay it forward for the next generation of people outside of your family.

I get this might be too much of a socialist viewpoint for some and that's OK. But one thing for sure is that I'll never be convinced to feel sorry for someone getting taxed on inheritance over $12M.

[Buster]

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Earn as much money as you can and do whatever you want with it while you're alive, set EACH of your kids up extremely well (up to $12M no tax + anything over gets taxed), then anything left goes back into society to pay it forward for the next generation of people outside of your family.

I get this might be too much of a socialist viewpoint for some and that's OK. But one thing for sure is that I'll never be convinced to feel sorry for someone getting taxed on inheritance over $12M.

Do you spend all that you make?