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Originally Posted by lookout123
exactly why are we in favor of taxing monies that have already been taxed?
doesn't "double taxation" ring a bell for anyone? i agree it is easy to build a sympathetic case for an estate tax. i dislike paris as much as anyone, but why is it ok to tax someone twice, just because they have $XX?
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"Double taxation" is something like federal and state income tax applying to the same income. Estate tax is not double taxation, it is taxing a transaction just like any other. "Monies" aren't taxed, transactions are, and inheritance is a transaction.
Further, estate taxes are the only limit in our society against a hereditary aristocracy taking hold.