Quote Originally Posted by GGT View Post
Dread, assets aren't taxed until they're put into some sort of action. Then it becomes a transaction, and most transactions are either taxed, or credited from taxes. You know that.

I understand your "morality" and intent issue, but you're not doing a very good job at justifying either. According to your presentation, the fortunes of the "robber barons" should have been passed onto their legal heirs, tax free? Money makes money, and money buys power, keep the legacies intact? (Never mind that their fortunes were gained by exploiting both the worker and our legislature. Is that old history yet?)

Let's be honest here. Americans who inherit assets have a leg-up on everyone else. Old Money is treated differently from Nouveau Riche. But WHY?

First and second generation workers and savers are being hurt by current monetary and fiscal policy. Being thrifty has turned into retirees using a spousal refusal, just to afford long-term aged care. When the tide goes out, how many people do you really want swimming without trunks?
Ummm, yes assets are taxed by an estate tax. That's the point. You're forced to realize gains/losses on assets to pay the tax.

I've never said there should be no corporate, dividend or income taxes. I've said that I disagree with the rates, loopholes, etc.

But now you're getting into this ugly re-distributionist populism gambit. As if the existence of some wealthy dude out there is detrimental to you and me. And that you and I should get something from someone who saves an arbitrarily high number and wants to pass that money on to their kids. That inheritance alone is a sin. Maybe this is a religious thing, but I don't believe in that kind of original sin.

And can we please stop just inserting random things we both read in the New York Times into the discussion? It not irrelevant.