skilz
Wednesday, June 25th, 2008Apparently, from what I have been told, Rae Dong Chong really learned how to change a rear wheel in under 10 seconds before shooting this scene.
She also learned how to act in under 10 seconds.
Archive for June 25th, 2008
No problems so far
Wednesday, June 25th, 2008
I keep waiting for Satan to show up and tell me to clean out my inbox but so far nothing…
(sent via mobile)
Death Tax!
Wednesday, June 25th, 2008From jroosh in my awesome comments section:
The inheritance tax was originally enacted in the late eighteenth century to pay for wars. Over the years it has been reactivated and deactivated and at some point congress neglected to deactivate it.
…
Personally, I don’t believe in being double-taxed. An individual that has amassed enough assets to have an estate-planning issue has usually paid much more in income, capital gain and/or corporate taxes than the average American over his or her lifetime, and has more often than not created jobs for others, which have also generated tax revenue.
For the sake of argument, and because I have a different point of view, I am going to take the position that the inheritance tax is not a double tax, it’s a single tax.
Let’s say I own a business and I struggle for a while but then I start to make a profit. I pay taxes on that profit, as I should. After a while I decide to take some of that profit and hire a couple of employees. I pay those employees out of my profits that I paid taxes on, but guess what? Those employees then have to pay more taxes, in the form of payroll and income taxes, on top of what I already paid! What the hell? Double taxation!
Someone explain to me how the inheritance tax is any different. You have money moving from away from one individual (who happens to be dead by the way) and turning into revenue for another individual.
I will tell you how it’s different. My employees actually did some work in order to get paid a salary that they paid taxes on. Those reaping the benefits of an inheritance tax did no actual work for this revenue.
So I ask you, which is less fair, income taxes or inheritance taxes?
UPDATE 12:17pm Dave in comments is right.
I was under the impression that profit for tax purposes was calculated after you made your payroll. The money that you use to pay your employees is not profit, therefore the business doesn’t pay taxes on it - the employee does - single taxation.
I am mature enough to admit when I am wrong.
I’m still all about the inheritance tax however. Just make the exemptions high enough so no one loses the family farm or business.
