Estate Tax

>>129255451

If there weren't estate tax, people would fucking be born, live, and die in the same house. You gotta move.

Taxation is theft

>>129255451
Land and wealth Grab. They have found a new way, insurance and medical can freeze your assets and take your house.......

File: 1496899497400.gif (108KB, 860x873px) Image search: [Google]

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Criminal and illegal like 90% of American laws

>>129255451
blatant theft
robbing the dead to feed Jamal's 12 chirjern and wars for pissrael

>>129255451
you mean the estate tax where the first 5M are exempt? that estate tax?

Practicing attorney here.

One public policy purpose of the estate tax is to help prevent individual families from accumulating too much wealth over successive generations, thereby threatening democracy by creating an aristocratic class. The counter argument is that the estate tax serves as a form of socialism, as it is plainly intended to redistribute wealth from generational "dynasties."

>>129255963
Yes, the one where the government arbitrarily steals money over 5M to pay for sheniqua's food stamps

You mean the estate tax that most filthy rich people don't pay because their fortunes are neither considered legal assets or legal income because of shitty loopholes? That one?

>>129255592
God forbid people don't spread all over the country like cancer and have healthy families instead

>>129255451
It was supposed to keep rich families from endlessly passing their wealth to the next generation. In reality the super wealthy created trust funds for their children to avoid it while the estate tax fucked over the middle class

Now there is a certain threshold ~5.4M as >>129255963 mentions, which is not taxed at all. Since this is based on yearly estate related income, almost all super wealthy people set up trusts with yearly payments of 5.4M to each of their descendants which means that almost nobody in the US ever ends up paying towards the Estate Tax

>>129256360
Wealthy families can get around a lot if the estate tax by setting up multiple family trusts and in the case of closely held businesses setting up different classes of stock, so that even if they don't own all the company they still control it and can get preferential treatment on corporate distributions. Estate tax onky fucks over newly rich and people who are rich becsuse of passive asset appreciation. Besides the mega rich like gates and buffet tend to give away most their fortune.

>>129255451
It's a progressive income tax designed to redistribute wealth. Duh, bruh.

>>129256927
this and
>>129256360
this

>>129257551
I think 5.4 M is the lifetime exclusion amount. The annual gift exclusion amoint is only like 13k or 14k.

>>129257551
it's not so straightforward, but yes you can mitigate the intended effect of the estate tax through a variety of loopholes

>>129257954
Yeah it's definitely a lot more complicated but I was trying to sum up the main reason it doesn't really matter.

>>129257936
>I think 5.4 M is the lifetime exclusion amount. The annual gift exclusion amoint is only like 13k or 14k.
Any source on this? I'm just curious since that's always been my understanding of the law. It doesn't help that the law around the estate tax changes almost yearly

>>129259115
http://www.natlawreview.com/article/2017-estate-gift-and-gst-tax-update-what-means-your-current-will-revocable-trust-and

Im on my phone do I dont know if all the url was copied, but you can probably find the article by searching what is there.