re: #510 Obdicut

You can giggle, but I was confining the discussion to the estate tax. I know that income is double/triple/quadruple taxed all the time. It’s one of the reasons that a VAT has some merit, since the multiple levels of taxation are eliminated. One of the reasons that we have so many levels of taxation is that the government has figured out that they can do so - not whether it’s the right thing to do or even the most efficient way to collect/gather/report tax.

As for your particular instance, what is the house valued at and subtract $1. /just kidding.

Actually, setting the level at $3 or $5 million and adjusted annually for inflation might work, with a tax rate of 10-15% might make sense. It provides some revenue, but allows those who made that money pass it on to their heirs and assigns. It could greatly benefit charitable foundations and other charitable works (though I could see the counter argument that such giving would be hurt by same).