Dallas-Mavs.com Forums - View Single Post - Great article...regarding taxes and leftist

92bDad · 07-02-2008, 09:16 AM

Here's an article that could make you question your tax position:

http://news.yahoo.com/s/ap/20080630/...millionaires_1

Now these folks are striking rich, due to untapped Oil in the Dakota's.

This couple is in their 80's and they have become overnight Millionaires. They are setting up Trust funds for their children and so forth.

For all I know these folks could live for many years to come, however at the age of 80 they have less time than if they where 40.

Basically meaning they have less time to give out the cash to the family and avoid double taxation.

Should the Government get to tax that income twice, or should the couple be able to give that money after it has been taxed to its relatives? After all, they are sharing the wealth that happens to be their own wealth. Only they may not be sharing it two times with the government.

Seems to me that an inheritance tax is the government being greedy!!!

I know if that was me, and I struck some oil rich in my final days, I would do everything in my power to protect that income from being stolen by the government when I'm dead.

The older I get, the more I find myself in support of ONE flat tax on income and remove all, and I do mean ALL other forms of taxation.

07-02-2008, 09:16 AM	#34
92bDad Platinum Member Join Date: Oct 2006 Location: TX Posts: 2,505	Here's an article that could make you question your tax position: http://news.yahoo.com/s/ap/20080630/...millionaires_1 Now these folks are striking rich, due to untapped Oil in the Dakota's. This couple is in their 80's and they have become overnight Millionaires. They are setting up Trust funds for their children and so forth. For all I know these folks could live for many years to come, however at the age of 80 they have less time than if they where 40. Basically meaning they have less time to give out the cash to the family and avoid double taxation. Should the Government get to tax that income twice, or should the couple be able to give that money after it has been taxed to its relatives? After all, they are sharing the wealth that happens to be their own wealth. Only they may not be sharing it two times with the government. Seems to me that an inheritance tax is the government being greedy!!! I know if that was me, and I struck some oil rich in my final days, I would do everything in my power to protect that income from being stolen by the government when I'm dead. The older I get, the more I find myself in support of ONE flat tax on income and remove all, and I do mean ALL other forms of taxation.