Bitcoin "The end of inheritance tax"

[Xester]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

There are country that has no inheritance taxes but only processing fee for the transfer of rights and the only tax that you will pay is the RPT or real property tax for property but no tax for money. But in your case bitcoin can be the answer to cut off the inheritance tax. With bitcoin you can transfer the bitcoins to your son or to your dependents/beneficiary without being noticed by the state. Hence, inheritance tax will be deemed invalid.

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[n0ne]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.   >  seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

There are country that has no inheritance taxes but only processing fee for the transfer of rights and the only tax that you will pay is the RPT or real property tax for property but no tax for money. But in your case bitcoin can be the answer to cut off the inheritance tax. With bitcoin you can transfer the bitcoins to your son or to your dependents/beneficiary without being noticed by the state. Hence, inheritance tax will be deemed invalid.

Only few countries have such inheritance tax methods. As quoted using rather than saving the property if bitcoin is saved saved could get tax cuts. In the coming generation people give preference to bitcoin knowing its potential. No only few trust bitcoin high than property. If one has saved bitcoins and doesn't get a chance to inform, then it goes worse than paying taxes.

[wxa7115]

Why do your kids deserve to start life privileged without having to work for it?
Do you think it makes them better people by being born rich? Do kids that are born with poor parents deserve to be disadvantaged?

Anyway: did your post have anything to do with Bitcoin? Are you sharing your private keys with your kids or are they in your will?  I rekon most Bitoins will be lost when the owners die (making Bitcoin deflationary)

It depends from country to country, maybe the OP lives in a country where everyone needs to pay that tax and not only the rich, but lets be honest why such a tax exist on the first place, an average citizen already pay taxes all his life and now he need to pay taxes even on his death? That does not make sense at all.

[RoommateAgreement]

Not sure where you live, but in US it only matters (somewhat) if your estate is above 5.45 mil (if you are married, then 2X5.45 mil).
In US, only 2 people out of 1000 qualified for an estate tax.
on the other hand, those with >10mil already know what to do: trust funds, etc.
https://en.wikipedia.org/wiki/Estate_tax_in_the_United_States

it is not only in US, in many other countries (where i live included) that they have some kind of minimum value for the inheritance before it needs to be taxed. i forgot what the amount was but here it is a lot less than 5 mil though

[thisappointed]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

I don't know why are you mad about this. It is just normal to pay taxes since we are all getting benefited by the government in so many ways, also, the taxes that we are paying to them is the money that they are using to build roads and others structures to improve or develop our countries, so please don't be mad about this "Tax" thingy.

If you don't want to pay taxes, then you should live on another planet and live on your own and make your own laws, if you don't like the ways how the Government governs us.

[cpfreeplz]

You work all your life and save alittle and then the fucking government comes along when your dead

When I'm dead what? Oh you mean when you're dead. Got it.

This will never happen with bitcoins. Who's to say I even own bitcoins? I just donated them all to an address that no one knows who owns it good luck proving otherwise dear government!

[Juggy777]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

Totally agree with op here, the number of taxes that a government charges us is incredible, it's like to earn a living you need to first earn for the taxes, then you can live. It's not just inheritance tax that is saved but all kind of monster taxes that they impose on us are saved. This is one of the best reasons to use Bitcoins as it can't be traced and secondly you don't need to pay any kind of tax which the government can charge, though fact is rich always escapes from tax it is us the poor who get mixed in the tax cycle.

[poloniexwhale]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

Yeah, buy bitcoin with the inheritance, and give him the wallet, or exchange account, it can avoid tax properly.

[wxa7115]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

I don't know why are you mad about this. It is just normal to pay taxes since we are all getting benefited by the government in so many ways, also, the taxes that we are paying to them is the money that they are using to build roads and others structures to improve or develop our countries, so please don't be mad about this "Tax" thingy.

If you don't want to pay taxes, then you should live on another planet and live on your own and make your own laws, if you don't like the ways how the Government governs us.

Disagree, paying taxes is something we must do, but you cannot ask us to have a smile while doing it, who likes to pay their taxes anyway? Very few people I suppose, I cannot picture anyone that will be happy receiving less money for the same amount of work.

[aso118]

inheritance only serve to make an unfair world where people will get things without any merit

the tax should be 100%, so no unfair advantage for anyone

How is saving and working your ass off your whole life in order to be able to leave behind some things for your children and loved ones unfair?? Wanting your children to have a better life is now unfair?

That's exactly the kind of mind frame you'd see from lazy ass people who do nothing but whine about their own sorry life.

Resenting the good fortune of others. Wishing everyone else would be as miserable as you.
It's like, I don't get any so why should you get any. Pure fucking Envy.

Merit? Just because you weren't fortunate enough, you wish the same for everyone else. If you didn't get any, then make your own. Why whine about 'unfair', 'advantage', and all that crap.

You don't like that other people get inheritances from their parents? Then work and make sure your children would have that privilege as well! 

And FYI, inheritances are not just about the $ value. Sentiment is likely a foreign concept huh.

My sentiments exactly. And 100% inheritance tax is laughable. You just incentivize everybody not to save money, because the government is anyway going to take it away when you die.
After paying income tax all your life, it is depressing to know that your estate will be taxed as well. The government should be rewarding the hard workers, not robbing them to pay the free loaders.

[Junko]

I agree that 100% inheritance tax would be just absurd. That's like some socialism BS. Any kind of inheritance tax is unfair in my opinion, especially if you've already been paying your fair share of taxes while alive. Bitcoin seems like a good remedy for this. I don't have any kids of my own, but I've made sure that when I die, my family will be able to access my bitcoins.

[Hydrogen]

I don't know why are you mad about this. It is just normal to pay taxes since we are all getting benefited by the government in so many ways, also, the taxes that we are paying to them is the money that they are using to build roads and others structures to improve or develop our countries, so please don't be mad about this "Tax" thingy.

The super rich don't pay the estate tax.

They have their money concealed in offshore tax shelters.

Only the middle class and wealthy individuals who don't use tax shelters pay the estate tax.

It wouldn't be a problem if states spent taxes efficiently and fairly. But in many cases taxes are used as a form of wealth distribution where the middle class and poor are taxed at much higher rates than the wealthy, while the wealthy also receive an unfair amount of tax revenues, as a means of making the rich richer and poor poorer.

[CyberKuro]

If there is one Tax that really pisses me off it is inheritance tax.  you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids.     seriously fucking pissed even writing about it...   


ps: sorry for the curse words but that is how angry that tax makes me.

Just read about it and now I know that inheritance tax could cut off your part even in a huge amount.
Well, if you get inheritance (Land and house) which it worth $22.727 USD, then you should pay 5% if you want the house/Land become yours. As long as we live in a country, taxes are inevitable, everything has tax.

[paul gatt]

everything will be very difficult for us if the government managed Bitcoin. Taxation is a typical example. we must pay various fees as we possess Bitcoin, and this is not fair. although it can control the crime, but I do not like it. will be a difficult thing for us

[Zadicar]

I hate that inheritance tax at all and anything from the word "tax" lol  but i wont still bother on that thing because i dont have any properties to inherit at all.
Bitcoin is really great since it cant be taxed by the government thats why its nice to put up our assets in forms of bitcoin would be the best choice for me.

[wxa7115]

I don't know why are you mad about this. It is just normal to pay taxes since we are all getting benefited by the government in so many ways, also, the taxes that we are paying to them is the money that they are using to build roads and others structures to improve or develop our countries, so please don't be mad about this "Tax" thingy.

The super rich don't pay the estate tax.

They have their money concealed in offshore tax shelters.

Only the middle class and wealthy individuals who don't use tax shelters pay the estate tax.

It wouldn't be a problem if states spent taxes efficiently and fairly. But in many cases taxes are used as a form of wealth distribution where the middle class and poor are taxed at much higher rates than the wealthy, while the wealthy also receive an unfair amount of tax revenues, as a means of making the rich richer and poor poorer.

The poor don’t pay a lot in taxes and sometimes they can even get money out of the government, the rich can hide their money, the ones that suffer are the middle class since they have money to be taxed but not the means to protect their assets.

[oktana]

I hate that inheritance tax at all and anything from the word "tax" lol  but i wont still bother on that thing because i dont have any properties to inherit at all.
Bitcoin is really great since it cant be taxed by the government thats why its nice to put up our assets in forms of bitcoin would be the best choice for me.

Taxes not something that we have to make it complicated, it is our responsibility, because we are born, live, work, and live comfortably in a country is not free, with their taxes, we are involved and responsible for building the country. Unless you speak legacy debt involving bitcoin, I firmly would say that it is not justified.

[mummybtc]

I hate that inheritance tax at all and anything from the word "tax" lol  but i wont still bother on that thing because i dont have any properties to inherit at all.
Bitcoin is really great since it cant be taxed by the government thats why its nice to put up our assets in forms of bitcoin would be the best choice for me.

For now Bitcoin can be used to evade tax, but if more people moved into Bitcoin, government will follow the money into Bitcoin and find away to tax income made from Bitcoin, remember the Coinbase issue is still there.

[Sapin]

Yeah, I agree with you, this is the worst tax ever. Hopefully with Bitcoin you will be able to transfer funds without much problems and without being spotted !

[Hydrogen]

The poor don’t pay a lot in taxes and sometimes they can even get money out of the government, the rich can hide their money, the ones that suffer are the middle class since they have money to be taxed but not the means to protect their assets.

In the united states, the poor pay around 30% in income and social security taxes. Factoring in sales tax, property tax, road tax, gas tax, telecommunications tax & all the other assorted taxes the average person pays it could go as high as 40%-50% collective taxation. If they drink alcohol or smoke cigarettes regularly and have alcohol/tobacco excise taxes stacked on the cost of their addiction, they could be taxed @ higher than 50% of income.

By contrast multi billionaires like Warren Buffett who don't use tax loopholes are documented paying 17% income taxes. Billionaires who take advantage of tax loopholes pay less than 17%.

Best case scenario: the poor pay twice or three times the percentage rate of taxes the super wealthy pay.

While there are social welfare programs to help the poor, there are also programs which benefit mainly the wealthy. Many subsidy, defense and economic stimulus programs benefit only the rich. An example of this is the F-35 defense contract which costs over $1 trillion. Another example the TARP bank bailout bill.

You're right that the middle class is taxed the highest and suffers the most. The poor are not taxed much lower than them, unfortunately.