Rep. Jason Chaffetz: Taxing inheritance is "immoral."
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  Rep. Jason Chaffetz: Taxing inheritance is "immoral."
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Author Topic: Rep. Jason Chaffetz: Taxing inheritance is "immoral."  (Read 2274 times)
retromike22
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« on: January 21, 2015, 04:10:09 PM »

“That’s a non-starter. The audacity, that he thinks the government has a right to people’s money? He wants to transfer wealth," Chaffetz said. "It’s one of the most immoral things you can do, is try to steal somebody’s inheritance, to steal it away from their family.”

http://www.huffingtonpost.com/2015/01/21/wealth-tax_n_6512848.html

I wish there was a video of him saying this while wearing a monocle and holding a cigar.
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Hifly
hifly15
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« Reply #1 on: January 21, 2015, 04:28:14 PM »

Non issue.
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Sprouts Farmers Market ✘
Sprouts
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« Reply #2 on: January 21, 2015, 04:32:10 PM »
« Edited: January 21, 2015, 04:37:28 PM by smilo »

Obama has been ridiculously right wing on this issue so that just goes to show how far right the right wants to go once he satisfices their desires. Ah, remember the 20th century - how relatively progressive this country once was! I don't remember it fondly except for the pictures of me wearing denim on denim on denim.

The amount of money you can now give away is pretty insane especially if you are married and plan properly, which all people who this tax might apply to really should be doing, though I admit the 45% rate on anything above what you can give away tax free is a little bit harsh especially when it contributes next to nothing to the budget. It could be lowered a good deal, but it's mostly a non-issue unless you are approaching $20 million considering how much you can give away later in life. There are just bigger issues to be focusing on before taking care of this now that the law has been adjusted already.

This one actually strikes me as doing the bidding of the rich (I know the leftists believe everything Republicans do meets that criterion lol but there are legitimate rationales for most things) even if he truly believes that this action is wrong. There are so many more serious moral failings to be focused on that affect far more people who need it the assistance far more.
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Nathan
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« Reply #3 on: January 21, 2015, 05:11:32 PM »

Taxing inheritance is possibly the least potentially-immoral form of taxation in that nobody who 'earned' the money by any definition of the word could conceivably do anything with it any more anyway.
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They put it to a vote and they just kept lying
20RP12
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« Reply #4 on: January 21, 2015, 05:52:15 PM »

But having a crumbling infrastructure system, poorly funded schools in just about every state and a poverty level that puts more than 1 in 10 Americans within its' boundaries is moral? Just wondering, Representative Chaffetz (R-UT)
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SPC
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« Reply #5 on: January 21, 2015, 07:31:30 PM »
« Edited: January 21, 2015, 07:33:47 PM by SPC »

But having a crumbling infrastructure system, poorly funded schools in just about every state and a poverty level that puts more than 1 in 10 Americans within its' boundaries is moral? Just wondering, Representative Chaffetz (R-UT)

If the money were truly earmarked for projects that would benefit the community as a whole, it would be less objectable than its more likely function of funding transfer payments to individuals who have done less to earn the money than whomever was intended to receive the money. In any case, such public services as you describe should be funded by user fees that actually reflect the market value of the good being provided, rather than using it to justify stealing from rich people regardless of the net benefit. While imperfect, the revenue from toll collection would serve as an incentive to build additional lanes on congested freeways rather than bridges to nowhere.
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Türkisblau
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« Reply #6 on: January 21, 2015, 08:27:43 PM »

Remember, taxes are great except for when the rich have to pay a large proportion of it! I'm sure that if this was done away with the Republican congress would begin advocating for a national sales tax and then a larger military budget.

But remember folks, the Republicans are the ones that are better with the economy and can really cut the deficit. They care about people like me.
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The_Doctor
SilentCal1924
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« Reply #7 on: January 21, 2015, 10:01:30 PM »

Someone mentioned it But the estate tax was estimated to bring in $36 billion out of a $4 trillion budget in 2009. It's essentially less than 1% of the annual federal budget.
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Türkisblau
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« Reply #8 on: January 21, 2015, 10:30:36 PM »
« Edited: January 21, 2015, 10:44:33 PM by Türkisblau »

Someone mentioned it But the estate tax was estimated to bring in $36 billion out of a $4 trillion budget in 2009. It's essentially less than 1% of the annual federal budget.

It's a symbol of where Republican priorities are. The conversation has shifted so far to the right where we are literally discussing the immorality of withholding a fraction of a fortune that someone who has never worked a day in their lives for can receive.

$36 billion is a [inks]ing huge amount of money and the fact that you say that this is so insignificant is hilarious as a huge amount of the right have balked at the $6 billion for the free community college. Also, this is not rebuking those for the inheritance tax as we feel that it should be at more historic levels.

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RosettaStoned
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« Reply #9 on: January 21, 2015, 11:47:35 PM »

“That’s a non-starter. The audacity, that he thinks the government has a right to people’s money? He wants to transfer wealth," Chaffetz said. "It’s one of the most immoral things you can do, is try to steal somebody’s inheritance, to steal it away from their family.”

http://www.huffingtonpost.com/2015/01/21/wealth-tax_n_6512848.html

I wish there was a video of him saying this while wearing a monocle and holding a cigar.

 Me too! Wink
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jfern
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« Reply #10 on: January 22, 2015, 01:05:49 AM »

Someone mentioned it But the estate tax was estimated to bring in $36 billion out of a $4 trillion budget in 2009. It's essentially less than 1% of the annual federal budget.

That's a higher percentage than the 0.6% of people whose estates pay it.
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pbrower2a
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« Reply #11 on: January 23, 2015, 08:26:01 AM »

Inheritance is the cornerstone of an aristocratic elite. It is most often the means of transferring power based upon family connections instead of merit.
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AggregateDemand
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« Reply #12 on: January 24, 2015, 06:13:09 PM »

Another pointless bike-shedding circle jerk. The issue on the table is the basis of the people inheriting the assets.

The tax question has virtually always been, and virtually always will be "what is income?". The tax rates are just fodder for political axe-grinders, unless they are talking about the tax rate structure.
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