What is Wrong with Inheritance Taxation? | Newsflavor - 0 views
-
Some people think that inheritance taxes are the right way to redistribute wealth. But does it really do that? In effect, they just provide governments with more money to squander. If they really should redistribute wealth, they should be excluded from the normal government income and allocated in a special fund earmarked for the purpose. Some people think that inheritance taxes are downright wrong; taking away already taxed and hard earned money from people who earned it.
-
What happens when you tax an inheritance? Applying British standards, 50 percent of the inheritance gets lost to the government coffers. If this money is sitting in a savings account or in a safe, the fact might be annoying to the heir, but hardly life threatening to anyone. If the money on the other hand is sitting in a company providing work to people, losing half the money could mean the end of the company. This second case in fact doesn’t redistribute wealth, it kills it
-
According to this article the taxation of inheritance is actually an ineffective and actually steals hard earned money from the people who actually went out and earned it. It goes on to say that relatively 50% of inheritance is actually lost to the government. It speaks about working capitol which is money that is actively contributing to the economy and dead capital which is money that is lying dormant somewhere being saved.
-
This is a very interesting article but make sure to use it as a secondary point and not your main argument.