Maureen <[email protected]> wrote: > > stock, not just the super wealthy. Inheritance tax seems like double > taxation to me. Since the parent paid taxes when they earned the > money, why should the child have to pay tax on it again? >
Because we have an income tax so if the funds are incoming to you, then you pay tax on it regardless of source. Your same argument can be applied to everything: * your company paid taxes on its earnings (assuming they're not Exxon! HA!) * you hire a plumber (who's honest about their taxes), you're paying them with money you've already paid tax on To get even closer, let's say you're the plumber and your Dad is the client: He's paid taxes on money he's earned and now he's paying it to you. You report it as income and now you have to pay tax on it. We tax incoming money no matter the source: parents, lottery, job, et ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336511 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
