yes, if it is a taxable event. That is changing hands from one person to another. Keep in mind, I only charge tax on personal income, not net worth. So inheriting a non income producing farm won't affect your tax in any way. If that farm starts making the kind of money it made when your father was running it, you will pay the same taxes he was paying.
IRS Targeted Donors To Tea Party Groups
- Thread starter AAAintheBeltway
- Start date
And Ricter would be "exempt" of course...
So was the money earned to buy a lottery ticket.
yes, I have better things to do than figure out how the government is wasting my tax dollars. The goal is to get to where everybody just pays their fair share of taxes because it doesn't really affect their life very much and they say "It helps the poor."
True.
Not even close to the same thing, and you know it. Sales tax on dollars you choose to spend is not the same as having income taxed, saved and then taxed again as income.
But there would be no fair share at all if the IRS could not affect you. People would just abstain.
no, good thriving economy will have low taxes. Nobody likes to pay them, and it hurts like hell when you see how the govenment wastes your hard earned money, but it doesn't affect you that much. Especially when you are young and earning. When you get old you can start bitching about taxes. But when you are young and earning they shouldn't affect you that much. That is the model for a healthy thriving economy.
Government benefits are a luxury of many years of a thriving economy, and usually an indicator of a certain downfall.
But a lucky inheritor is not being taxed "again", the first taxes were paid by the deceased while they were living.
When could you expect them to play out? I suppose your answer is, "Always."
