Sqrl said:
fkusumot said:
Sqrl said:
As far as the gift tax goes, I will be honest in saying I am at odds with this one. I can see many problems created by allowing the shift of wealth so easily. With the estate tax it is quite a bit different since...well you have to die to do it =P But in the case of just handing off money to someone I can definitely see issues that would come up. It definitely isn't my favorite law but once again I recognize that the system isn't going to be perfect and that some neccessary evils will exist. This is also a law that I am fairly unfamiliar with. But on the surface it would appear it is one of those neccessary evils. |
The main difference between my view of the estate tax and yours may be that I view the estate as a gift. I see the same type of problem as you with having no gift tax and I think that applies also to the estate tax. |
If someone is willing to die to give a "gift", then that is some hardcore dedication. |
It's as simple as putting them in the will. You can also get the property through the mechanisms of state law if you're not in the will (spouse/child/relative) and through contesting a will. It is my firm belief that the US will become a plutocracy without the estate tax and that is why I am against abolishing it. Bill Gates Sr. has written some good editorials in favor of the estate tax. You might find them interesting.
