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In reply to the discussion: Bernie Sanders to propose dramatic expansion in estate tax on richest Americans [View all]oldsoftie
(12,535 posts)I just think its best to leave operating businesses alone. Too easy for negative press. "We had to sell the farm to a big corporation to pay the taxes".
Its not going to raise that much money anyway. Its just anther good talking point to campaign with.
And trust me, regardless of how they write the law, I bet I can tell you how to get around it in a short period of time. Aside from a sudden death, anyone getting up in age can easily move/hide/transfer/rename assets. Its the same with income; anything earned that isnt on a 1099 or W2 is easy to NOT pay tax on. And in our economy, thats a TON of income.
If the candidates REALLY want to raise the kind of money that makes an impact on the debt, they need to consider a consumption tax like most EU countries have. Then daddy cant get away with buying jimmy that Maybach without paying a nice tax to Uncle Sam