quote:
Why do people act like that's illegal or immoral or some shite? Isn't sales tax "double taxation"? You've already paid income or capital gains tax on money you use to purchase goods and services that you are charged a sales tax for. Did the retailer not pay a inventory tax on some of the goods he charges sales tax on? Whatever gave people the idea that just because their money has been taxed once, it can't be taxed again?

Many of the examples being used involve different taxing authorities (state & local) or completely unrelated transactions (sales, inventory, etc) with 3rd parties.

The federal govt taxing income and then again inheritance has all the makings of double dipping. The inheriting party will be taxed on any subsequent gains or other taxable events once in their possession but the money has already been federally taxed prior to the original earner's death. The sheer act of passing already taxed wealth to another person and generating another taxable event in itself is established only because it's in the tax code. It is double dipping in my opinion.

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Posted by WildTchoupitoulas

Member since Jan 2010

44071 posts

Posted on 4/19/24 at 1:23 pm to PerplenGold

quote:
The federal govt taxing income and then again inheritance has all the makings of double dipping. The inheriting party will be taxed on any subsequent gains or other taxable events once in their possession but the money has already been federally taxed prior to the original earner's death. The sheer act of passing already taxed wealth to another person and generating another taxable event in itself is established only because it's in the tax code. It is double dipping in my opinion.

Only if they're doing it wrong.

There are so many inequities against the working class, that it always makes me laugh whenever they show all this sympathy for those who really couldn't give a shite about them - at best. Why not set the standard deduction at $100,000 or $1,000,000?

Personally, I don't give a shite about the 1% as I'm pretty sure they're capable of taking care of themselves.

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Posted by Salviati

Member since Apr 2006

5581 posts

Posted on 4/19/24 at 5:48 pm to PerplenGold

quote:
Many of the examples being used involve different taxing authorities (state & local) or completely unrelated transactions (sales, inventory, etc) with 3rd parties.

The federal govt taxing income and then again inheritance has all the makings of double dipping. The inheriting party will be taxed on any subsequent gains or other taxable events once in their possession but the money has already been federally taxed prior to the original earner's death. The sheer act of passing already taxed wealth to another person and generating another taxable event in itself is established only because it's in the tax code. It is double dipping in my opinion.

The examples given demonstrate that taxes typically involve transfer of property including money: sales taxes, gift taxes, property taxes, income taxes, estate taxes.

quote:
The sheer act of passing already taxed wealth to another person and generating another taxable event in itself is established only because it's in the tax code. It is double dipping in my opinion.

This statement describes income tax as easily as it describes estate tax.

The money received by the employee like the money received by the beneficiary/heir has likely been taxed before they received it. The employee has worked for the money received. The beneficiary/heir is not required to work to earn the money received. Why should the employee pay a tax and the beneficiary/heir should not?

Again, how the taxes are spent is a different issue than how the taxes are generated.

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