Wait, they were a fashion item? Like, ever?

In vogue, as in popular, not in vogue as in in Vogue.

Fascinating discussion of taxes. I'm not too gentle in my mind on people who get huge assets dropped in their laps, because assets are assets. If you own a wingding worth $10, even if you never, ever, ever intend to sell it, it's still $10 sitting around your house disguised as a wingding. The law is not designed to let you keep your grandma's beloved wingding no matter how valuable, because the law has no idea whether you actually love it or would sell it for crack at the first opportunity.

Also, I am all for rich people giving money to the poor, via government or another method. Call it The Other Trickle-Down Theory, the one that is not actually stone cold banditry.

The law is not designed to let you keep your grandma's beloved wingding no matter how valuable, because the law has no idea whether you actually love it or would sell it for crack at the first opportunity.

Then why not tax it when you sell it for crack? Then you can be sure.

Sadly, crack transactions are not taxed, due to their not happening in licensed establishments of business. Although watching crack-fiends try to calculate sales tax in their heads might be entertaining.

Next up: fair use laws for whoring.

So, bon, how do the tax laws apply to Teppy's primal fear of inheriting her father's debt?

Don't think they apply, and then it gets a little out of stuff I know. But AFAIK, what Cindy is saying is right: creditors get a crack at the decedent's assets before you do. If the deceased has no assets, I don't think you become liable for the debt.

Does dowry count as a normal gift for taxation purposes?

There are some exemptions for gifts from one spouse to another, but otherwise, yeah.

Sadly, crack transactions are not taxed, due to their not happening in licensed establishments of business

Ah -- bartering for crack. I couldn't see what it mattered what you spent the money on, but I get it now.

If the tax is repealed, then where does that money come from? Raise the income tax?, Cut Medicaid?, Just add it to the debt?

bon bon, I think this is a very important question as a policy matter. The federal budget is at record deficit levels. How can Congress justify reducing income? Is the "fiscal responsibility" party just going to make the deficit keep going up and up?

I couldn't see what it mattered what you spent the money on, but I get it now.

Well, no. What you spend the money on does not matter -- crack or crackle finish on your new living room. What matters is whether you or any of your heirs might ever consider selling grandma's beloved wingding. If the wingding has value, you or your heirs might sell it, and become richer thereby. I think the government is taxing inheritors because the wingding IS money, just not in a format that is easily transacted.

And, really, when does money ever change hands without the government taking a cut? Besides envelopes at Christmas and corrupt accountants, I mean.

And, really, when does money ever change hands without the government taking a cut?

Some places don't have sales tax, right?

What matters is whether you or any of your heirs might ever consider selling grandma's beloved wingding.

Are you suggesting taxing upon receipt as a way to prevent black market profit? I responded to your post thinking that crack was hyperbole, but it's not, is it?