'Potential'
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
If the tax is repealed, then where does that money come from?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?
Some places don't have sales tax, right?
Yes. New Hampshire, Delaware are two, I think.
Oregon also does not have sales tax. Washington has a high sales tax, but no state income tax.
Oregon. No?
t x-post
when does money ever change hands without the government taking a cut?
Gifts under the threshold that bon mentioned upthread?
New Hampshire doesn't have sales tax because it is an incredibly stubborn state. With the highest property taxes in the galaxy.
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?
No, taxing != prevention of black market sale. The idea is, the thing has cash value, and cash value supercedes any intimations of emotional value (because the former can be proved and the latter can not), and why shouldn't the government take a cut of a cash transaction? It does that all the time.
(Yes, the crack thing was a joke.)
We didn't have a sales tax! For a week. Only on clothing and shoes, I think.
It was a little odd. I think it was some back-to-school deal or the legislature being weird, because they do that sometimes.