The debate over inheritance tax has sparked discussions on social media. Some argue that the tax should be directed towards good causes rather than the government, while others criticize the idea of a 100% inheritance tax, suggesting loopholes such as gifting assets before death. Additionally, there are opinions on the implications of inheritance for children and the potential repeal of the federal income tax. Recent news indicates that Downing Street is considering axing inheritance tax in a pre-election move to boost political prospects.
🚨 NEW: The Tories will promise help for first-time buyers as a pre-election giveaway to win over young people Strategist: “This is a group that says they aren’t going to vote for us. To make them think again we need to have a substantive offer in place” [@thetimes]
🚨 NEW: Rishi Sunak is planning to axe inheritance tax in the Spring Budget [@Telegraph]
NEW: Downing Street is considering axing inheritance tax in three months’ time in a pre-election giveaway to boost Rishi Sunak’s chances of victory. https://t.co/vZYglQAhCK
I have a better idea. How about we repeal the 16th Amendment and eliminate the federal income tax? https://t.co/LUjl3FNE5a
Im not against inheritance for children with wealthy parents. Im in favor of inheritance for every child. That might take spreading out say half the inheritance money each year more equitably, which seems fine (modulo enforcement).
A 100% inheritance tax is a weirdly specific policy, implying that rich people do far less than the socially optimal amount of nepotism, private school, tutoring, buying colleges buildings, and other kinds of intergenerational wealth transfer that aren’t taxed this way.
This is obviously a very bad idea. Easy way to hack an inheritance even with a 100% inheritance tax: buy gold bars on your deathbed, gift them to your kids. https://t.co/iKtPl5UBX5
But I don't think the inheritance tax should go the government at all Then you just reduce nepotist families but increase nepotist government It should probably go to some actual good causes, how I have no idea https://t.co/CE1hIWNDOU