The estate tax is a tax on income. When someone inherits an estate, it is treated as new income. The inheritor is then taxed on the new income. Mincing words, perhaps, but it's a legal tax on income.
"Treated as", in this context, means of course that it is defined as "income", by the government.
The inheritor is then taxed on the new income. Mincing words, perhaps, but it's a legal tax on income.
Yes, of course. The government calls something "income" and then taxes it. By this standard then, no taxes on anything whatsoever are unconstitutional as long as the government defines what they are taxing as "income". Kinda takes the teeth out of that constitutional clause altogether, doesn't it? :)
Anyway, overall Huck I just wanted to say that your posts on this thread are very good and reasonable. Many who are arguing with you do not appear to be digesting what you are saying, because they opposite the estate tax so vehemently. For the record, so do I, and perhaps so do you, but you are making tons of valid points here. And this is coming from someone who (as I recall) has argued with you a lot before. ;) Best,