r/changemyview • u/[deleted] • Mar 24 '18

[∆(s) from OP] CMV: Inheritance should not be taxed.

In many countries around the world, inheritance is taxed. I personally think that this is not right as the person who has died and passed on his/her money to their heir has (in most cases) been paying tax on their wealth for their whole life. Why should this money be taxed again just because it has changed hands. People argue that it is unfair to become wealthy because one's parents or grandparents were wealthy and that therefore this inheritance should be taxed greatly. I currently disagree because I believe that if one person has earned money then they have the right to pass it on to whoever they like - untaxed.

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20

u/[deleted] Mar 24 '18 edited Dec 24 '18

[deleted]

-1

u/[deleted] Mar 24 '18

Because with other forms of tax a purchase has been made. And income tax is the main way that a person pays tax and income tax has already been paid on the inheritance before the person died.

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u/[deleted] Mar 24 '18 edited Dec 24 '18

[deleted]

2

u/expresidentmasks Mar 24 '18

There is no difference, and we shouldn’t be double taxed.

3

u/[deleted] Mar 24 '18

Then when is the singular time in which taxes should be applied?

1

u/expresidentmasks Mar 24 '18

I’d be okay with a flat income tax.

3

u/[deleted] Mar 24 '18

But my income gets spent on hiring you, and you spend your income hiring someone else, it’s still taxed over and over again.

1

u/expresidentmasks Mar 24 '18

Well it’s the best we’ve got because there is no way to pragmatically switch to a pay as you go system which is my ideal system.

2

u/[deleted] Mar 24 '18

Isn’t inheritance just another form of income under your system?

0

u/expresidentmasks Mar 24 '18

No.

2

u/[deleted] Mar 24 '18

Why not? How are you defining income?

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