Quote:
Originally Posted by Leondros
Okay, well I can sell it to you in another way. Axe the deemed disposition, apply a 50% estate tax over and above $10 million and call it a day. A deemed disposition plus an estate tax while a double tax would achieve the exact same thing from an effect tax rate perspective. Similar to the US there would be a spousal deferral mechanism in there along with the standard gift avoidance, etc.
At the end of the day it achieves the goal of taxing the super wealthy, but not to the extent where hard work and saving for your family isn't rewarded. If you are a beneficiary of that and can't make $x million work for you, I don't know what to tell you.
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50% estate tax?! why do I think that you'd suddenly see a lot of $9.9m estates out there.
That percentage sounds insane.