Re:Too Rich to Live?
by jacobolus on Friday July 09, 2010 @08:31PM
(#1502715)
45% tax after the first million, right?
Denmark has a top marginal income tax rate of something like 60%. Why is a 45% marginal tax on estates “insane”?
If you think about it instead as descendants get a completely un-earned windfall of $1 million + 55% of whatever is left after that, while only 45% of everything after the first million reverts to the general society, then the tax might just as easily be characterized as insanely low.
Of course, this is just a legal agreement, hashed out in congress, and so “insane” is a pretty silly label either way. The legislative process may be messy, but I guarantee you the vast bulk of the people arguing on each side of inheritance taxes are perfectly sane, and there are compelling mutually incompatible arguments (compelling for some number of citizens anyway) on both sides.
Denmark has a top marginal income tax rate of something like 60%. Why is a 45% marginal tax on estates “insane”?
If you think about it instead as descendants get a completely un-earned windfall of $1 million + 55% of whatever is left after that, while only 45% of everything after the first million reverts to the general society, then the tax might just as easily be characterized as insanely low.
Of course, this is just a legal agreement, hashed out in congress, and so “insane” is a pretty silly label either way. The legislative process may be messy, but I guarantee you the vast bulk of the people arguing on each side of inheritance taxes are perfectly sane, and there are compelling mutually incompatible arguments (compelling for some number of citizens anyway) on both sides.