Trump's tax proposal: raise taxes on the poor, give to the rich

[LurkerJ]

Signalstar said:

Superman4 said:

Why exactly would anyone be for this ridiculous tax? Do you understand what it is? Lets say you worked for 50 years building a company like the HIlton, when you die you want your kids to inherit what you worked those 50 years for lets say its 100 million. That 100 million has already been taxed as income and is your money free and clear. When you die and will it to your kid, you would expect your kid to get all 100 million right? Why would the goverment be entitled to half of that money because you died? Better yet, why would your son now get taxed on that money as income? Wouldnt that be double taxing money already taxed? This law doesnt affect me since Im not rich and none of my family is but it is a BS law that is designed as a money grab for the goverment. Whatever you earn in your lifetime should be able to get passed down to your children 100%, the goverment is not entitled to any of it.

The rich do not spend their money for the most part. They hoard and save it which helped them get rich in the first place.

Sound like they're wise people. Where's the problem?

Consumer spending is by far the largest sector of the US economy. Because of the estate tax some of that money goes to benefit society. It also encourages rich heirs to be innovative and entrepreneurial instead of being lazy and sitting on their money.

Aren't we supposed to let people live the way they want? A sizeable portion of the poor people are poor because they are lazy. You should be lecturing them, they're the ones that need help. A lazy rich person gets to be lazy, unlike the poor ones.

As it stands, Japan's estate tax means that a sizable fortune would be wiped out in 3 generations unless the heirs invested that money and tried to make it grow. Also if anyone wants the government to receive a smaller amount they can give the money away to charity or invest it in something that will likely create jobs and keep that money flowing through the economy. As it stands the tax only applies to wealth over $5 million for individuals and $11 million for couples. That is an extremely high threshold and only benefits the super rich.

And with what you're proposing, taxing them after they die only HURTS them, that's called discrimination.

All of Trump's kid stand to earn hundreds of millions in extra income if this tax is wiped out including Ivanka who works in the White House and has been holding dinners for lawmakers trying to get support for these tax initiatives. It cannot be allowed to pass!

Successful people ought to fight this targeted theft.

You sound like someone who's butthurt rich people have a lot of money. For the life of me, I'll never understand the rationalizing behind what you are proposing, which is basically stealing. It also encourges rich people to stop reaching new heights, which would ultimately hurt the poor and the middle class.

The rich hire others to INCREASE their wealth, if they realize that increasing their wealth will ultimately decrease it, they will stop hiring. Even if that was not the case, taking money from people who earned it legally isn't moral, it's theft. It doesn't matter if the majority voted to steal that money, it's still theft.

Oh, and like the guy you quoted, I obviously don't have 5 millions in my bank account.