Let’s say I came up with a plan that resulted in utopia-like conditions in the US. The way to get there is to torture and kill 0.1% of the population. Are you on board with this plan? Why or why not?
Let’s say I come up with a plan that resulted in utopia-like conditions in the US. The way to get there is to modestly tax inheritances of the very, very rich. Are you on board with this plan?
Don’t you think your post was kind of silly? What is gained by posting inflammatory nonsense? Other than generating flames, that is?
“Torture and Kill” is not equivalent to “tax some portion of an estate” on this planet.
Comparison fail.
Dude, how many people are conservatives ok with dying because they can’t afford health insurance?
How many you got? 
Don’t have to & don’t personally know anyone that would have to worry about the current limit.
That said, what magic does having an estate over $5 mil create that someone having an estate of 4.8 mil. Why should they get slammed simply because the estate is over 5 mil?
Now we all know that all this random number does is increase the income of a butt load of attorneys and accountants to make sure what wealth is reported doesn’t exceed that amount.
So why bother?
The same reason that the law treats you different when you reach 18, because they have to pick a number.
Note that it is only the amount over $5m that is taxed - at 35% Hence you do not get “slammed” just by hitting $5m. An estate of $5.1m will pay $35,000 in tax, or 0.69% of the value of the estate.
Although many people who have just slightly north of $5M will spend that down in their retirement - we should be there at retirement - and should be far below that when we die. Smart tax planning will have you distribute some of that as gifts below the reportable limit. There are some ways to shelter - insurance, setting up trusts or corporations, some other things. You can spend or give some away to charity if you would rather see it go there than to the government.
Only if I get to pick the 0.1%
Can we start a list?
Good question. We should start applying the estate tax to everyone.
Let them be quick about it, and decrease the surplus population.
That idea makes no sense, inasmuch as the underlying purpose of the estate tax is not simply to garner revenue but rather to act as a brake on the tendency of wealth to become concentrated into a closed circle.
35% of a few million is a lot more than 35% of a house in the sticks. I was being facetious, though.
A rich republican, Teddy Roosevelt, warned us of the dangers of accumulated wealth in America. His point was that just due to size ,a huge fortune is different than just money. It has characteristics that give it special qualities like political power, access to politicians and open access to media. It is not about money but the inherent danger to the system itself.
He suggested a graduated income tax and a graduated inheritance tax.
His fears have proven to be prophetic. Our government has been taken over by the super rich and it serves them quite well.
Remove all death/inheritance tax. Just add any transfer of money between people the same way. If I hire you and pay you, it is income to you. If I die and will money to you, it is income to you. Treat it all the same way.
If it is a really big sum, or a business, farm, etc. make a trust/corporation/whatever to hold the money and dole it out over time, but once it moves into a person’s pockets, tax it all the same way.
That’s way more strict than the current rules. Republicans would shit angry bees if your idea came to pass.
I’m all for it.
ETA: Of course the down side would be people couldn’t get willed family homes. The 5 million cap is there so that a small business or a farm can go to the kids without the kids suddenly owing outrageous taxes on it.
Make a special “inheritance trust” that can hold property/farms/businesses etc.
You can live in the house (even pass that “house trust” to your heirs). You only owe taxes if you sell the farm or business and the cash hits your pockets.
This made me laugh a lot. I want to see a cartoon of this now.