Are Death Taxes Actually Helping Anyone?

Contrary to popular belief, only 14% of the money that belongs to the nation's top 1% comes from inheritance. For the vast majority, wealth has been self-generated. Seamus helps Bob come to the realization that a larger inheritance tax does more harm than it does good.

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CREDITS:

Written by Seamus Coughlin & Jennifer Maffessanti
Animated by Seamus Coughlin
Produced by Sean W. Malone

[pricture]

_“The question is not what anybody deserves. The question is who is to take on the God-like role of deciding what everybody else deserves. You can talk about 'social justice' all you want. But what death taxes boil down to is letting politicians take money from widows and orphans to pay for goodies that they will hand out to others, in order to buy votes to get re-elected. That is not social justice or any other kind of justice.”_
- Thomas Sowell

[sgtwisky]

"I knew death and taxes were inevitable, but do they have to come at the same time?" Best quote I've heard in a long time

[NorBdelta]

The greatest crime of inheritance taxes is that the income has been already taxed numerous times before the inheritance being in existence. The salary was taxed, the property itself is subject to innumerable taxes from stamp duty to capital gains, and so on and so on. AND yet there is still this misapprehension that these evil people who worked hard and paid their taxes are still the scourge of society because they refuse to allow their life's work to be taxed YET again! Tell me this, if the inheritance tax was 100%, why would anyone invest? Why expand your business or factory? Why plan for the future if it is all going to be stolen in the name of social justice? Why build a family home? Why care? This is the insidious crime of ideologues, reducing their population to subservient subjects of the state.

[LibertyLocalizer]

Man, you're way better than that freedomtoons guy.

[singularity]

Why do you think they "Waste Money On Cars, Homes, Priceless Objects and Paintings."
So they can give them as gifts or inheritances to their children when they pass away.

[aaronlandry]

Inheritance tax: We taxed you once when you worked extra to earn more money to pass onto your kids, but we’re gonna do it again anyways

[SociallyTriggered]

I always saw death taxes as unfair because you already paid taxes in order to get that money and this is really a tax on a tax.

[iAnnie]

1:20 - Top Ten Anime Transformations of All Time.

[ThereIsNoSpoon]

A man once worked hard. He made money from his job at a restaurant. He took his knowledge and money and eventually started his own restaurant. He hired lots of people, and grew his company. The whole time supporting his family and helping support the families of his employees. Eventually, he didn’t have to work as a cook, because he hired so many people. So he started to save his money so that his kids could start their own businesses and not have to make their own money. He eventually died and passed what he could on to his children.

His paychecks as a chef at other restaurants were taxed.
When he owned land for his restaurant, that money got taxed.
When he built the building, he got taxed.
When he paid employees, he got taxed.
When he bought supplies for the store he paid sales tax.
All of his food was more expensive because it got taxed.
His interest in the company was taxed over in his retirement.
When he died, all of his money got taxed.

Not to mention all of the rules codes and regulations that he had to circle through to get his company going.

All the while, giving people delicious food in a fair transaction, paying employees, and providing for his family. He also did charity work on the side.

[evilblackcat]

Just goes to show the government can still bleed a corpse.

[claytonschmidt]

"They say the best vampires don't bleed their victims dry, but give them the strength so that they can bounce back only to be fed on again." - Dwight Schrute

[emperoralvis]

Everyone: How about you don’t tax me when I’m dead?
Bernie Sanders: 😡😡😡

[andersjohnson]

With such a large exemption and so many ways around it, almost nobody pays federal estate tax today. The lawyers make a good bit of money helping rich people avoid it, though.

[raedwulf]

Inheritance taxes should be 200%, so we can indulge in generational financial slavery to the gubmint.

[demonprinceofkhorne]

Finally!

I’ve had questions about Seamus’ views on inherited wealth since the first time watching a video he made. Really happy to see a concern I had be addressed

(I do not think he read my comments, naturally, but it’s a happy coincidence)

[Joshua-ewks]

Proverbs 13:22: A good person leaves an inheritance for their children's children, but a sinner's wealth is stored up for the righteous.

[rwbimbie]

Mrs Smith is 50yrs old, has been an office worker for 30yrs, and has saved up $40, 000 for retirement.. but she died.
What % should the government DEATH TAX TAKE,
and what % should her family get?
Was her mistake to plan for retirement and save up as to not be a burden.. was she supposed to spend it all on good times and retire broke?

[MrRedsjack]

Death and taxes are inevitable:
Every billionaire accountants: let's us see about the second.

[justicedunham]

Reminds me of Bernie Sanders when he stopped saying “millionaires and billionaires” to just “billionaires” when he became a millionaire

[samkaplun]

The US inheritance tax only applies to wealth of over $5.4 million per person. Only a few thousand estates in the United States are even eligible for the tax. I doubt a single person who has seen this video would ever have to worry about this tax.