Fair and balanced taxation?
I’m thinking of the “fair and balanced” news station, and suddenly transferred the idea to the taxation issue.
What is more fair? The working person has always been taxed by the supposedly fair “income tax,” on his or her salary, having it conveniently withheld from the payroll check. That’s always seemed fair to me, as a citizen to help my government fund its budget. But I read that to tax an heir who receives some “income” way beyond the average wage-earner’s income, in an amount above some five million dollars, isn’t a fair tax, and should be eliminated. What, may I ask, is fair about that?
In my opinion; the “estate tax” is the most fair and balanced tax that our country could ever come up with. No way would I expect to not pay an income tax on the amount above five million bucks somebody leaves me.