RE: “Inherited wealth” has already been taxed multiple times already! idiots stuck on stupid LA Times....=.=
Well, this author has little sympathy for arguments like the above. His response is the standard — “it’s better for the government to have your money”.
Here’s his argument :
“There is no general principle that says income or property gets taxed only once. To the contrary, property is often subject to multiple taxation when it is used for different purposes.
In any given day, we are all subject to a variety of state and federal taxes. For instance, your earnings are subject to both income and payroll taxes, and that money is taxed again when you pay sales tax on your purchases and property taxes on your home.”
In other words, to the author, tax payers haven’t been taken from enough in this life. Their heirs need to be taken from even more just as they have been taken from when they were alive.
As I said, the author is an idiot stuck on stupid.