[southernindymom]

There shouldn’t be an inheritance tax. The money has already been taxed at least once if not more.

[Fireone]

I’m so old, I remember when double taxation was against some kind of rule.
Death taxes have destroyed hundreds of family farming businesses, along with other businesses. It’s a crime.

[datricker]

How many times do the taxes of the same money get to be wasted by leftist bureaucrats?

[equaviator]

For that alone, it’s a dirty business.

[LouAvul]

Yep. Jorge Busho eliminated the death tax. But his good buddy O'Bummer reinstated it first thing.

The tax is bad because it's double taxation. The very same thing re social security.

Social security distributions should not be taxed, especially since many live off that alone, and are least able to afford to have to pay income tax.

[Alberta's Child]

The inheritance tax should be replaced by a special capital gains tax that is set at the current tax rate.

Suppose a person has an asset with a $1 million cost basis that is worth $4 million at the time he dies.

The transfer of the asset’s ownership to the heirs is documented as an asset sale, triggering a tax on the $3M capital gain. If the current capital gains tax rate is 20%, then a $600,000 tax liability is incurred by the estate.

One special provision I would consider adopting is a ten-year tax deferral period … meaning the estate or heirs have ten years to pay the $600,000 tax bill.

[bk1000]

“The money has already been taxed at least once if not more.”

I paid for my house years ago, but pay significant property tax on that house every year. Own it, my backside.

[griswold3]

Agreed. And Those with high net worth can afford to hire attorneys to protect their family assets.