Trump's Money

[RedDenver]

21 hours ago, knapplc said:

One thing that O'Brien tweet exposes that's tangential to this thread but really irks me - what the hell does the government need with 55% of Donald Trump's father's money when he transfers it to his children at his death?  That's not just excessive taxation, that's sick. 

At the risk of derailing this thread into the heated inheritance tax discussion, why should people who did nothing to earn that money get it all of it as opposed to the society that could use it to improve the infrastructure that made earning that wealth possible getting some of it?

 

(EDIT: This is almost certain to derail the discussion, so I've copied the post to the old thread where we debated inheritance tax, so we can continue the discussion there if people want: 

)

[Moiraine]

4 minutes ago, RedDenver said:

At the risk of derailing this thread into the heated inheritance tax discussion, why should people who did nothing to earn that money get it all of it as opposed to the society that could use it to improve the infrastructure that made earning that wealth possible getting some of it?

 

 

Really good point. 

 

Another thought - I think every kid should have the same amount of $ spent on them when it comes to their K-12 schooling. Instead a lot of it is based on how rich their parents are. There’s kind of a tug of war in my mind between thinking everyone is born equal, and thinking as a parent I would want what is best for my kid. The 2 topics are similar, I think. People want to give $ to their own kids or whoever they want. But if you look at the big picture, one kid isn’t worth more than any other kid.

[BigRedBuster]

6 minutes ago, RedDenver said:

At the risk of derailing this thread into the heated inheritance tax discussion, why should people who did nothing to earn that money get it all of it as opposed to the society that could use it to improve the infrastructure that made earning that wealth possible getting some of it?

 

One major issue is that because there are a hell of a lot of families where the kids DID help earn the net worth of the family.

 

Another is that this CAN greatly disrupt businesses that actually then affects employees of those businesses.

 

I don't necessarily have a major issue if we want to tax people with a billion dollars and it's in line with possibly income tax rates.  But, I have a real problem with thinking that the government can just come in and take the vast majority of a net worth.....just because someone died.

Talk about taxation without representation.

[RedDenver]

1 minute ago, BigRedBuster said:

 

One major issue is that because there are a hell of a lot of families where the kids DID help earn the net worth of the family.

 

Another is that this CAN greatly disrupt businesses that actually then affects employees of those businesses.

Good points, but I've edited my post with a link to the old inheritance thread discussion so as not to derail this thread: 

 

[BigRedBuster]

The best business man the world has ever seen.