Taxpayers subsidizing 'luxury' housing in Fairfax

[mrplunkey]

Explain, please.

Are you referring to the estate tax? (Didn't they recently increase that or something?)

Yeah, it normally runs 55%.

That's a good example of a perverse incentive. Why would you spend your life accumulating and saving to insure your children will be better off, knowing you'll have to get 55% of it confiscated by the government?

It's a crazy law. I'd say inheritance tax forces the sale of more viable small businesses and farms than anything else. Divorce is probably #2.

 

[samoth]

Yeah, it normally runs 55%.

That's a good example of a perverse incentive. Why would you spend your life accumulating and saving to insure your children will be better off, knowing you'll have to get 55% of it confiscated by the government?

Yeah, this tax always confused me. How did it get passed? What was the estate tax (or equivalent) 10, 20, 50 years ago?

 

[mrplunkey]

Yeah, this tax always confused me. How did it get passed? What was the estate tax (or equivalent) 10, 20, 50 years ago?

2001 $675,000 55%
2002 $1 million 50%
2003 $1 million 49%
2004 $1.5 million 48%
2005 $1.5 million 47%
2006 $2 million 46%
2007 $2 million 45%
2008 $2 million 45%
2009 $3.5 million 45%
2010 * Repealed * 35%
2011 $5 million 35%

 

[PICK3]

my parents haven't/aren't leaving me dick

 

[miplank]

pwnt!

 

[PICK3]

2001 $675,000 55%
2002 $1 million 50%
2003 $1 million 49%
2004 $1.5 million 48%
2005 $1.5 million 47%
2006 $2 million 46%
2007 $2 million 45%
2008 $2 million 45%
2009 $3.5 million 45%
2010 * Repealed * 35%
2011 $5 million 35%

rich people p'wnage!

 

[miplank]

rich people p'wnage!

65% is better than nothing. Lol

 

[canadianhitman]

People should transfer the majority of their assets offshore when they get elderly...have their kids inherit the money over there secretly. Fuck the greedy libspender government!!!