Rick Lowe
Back in October I had the privilege to speak at the College of The Bahamas about income taxes. See this link…
After the debate about income taxes, there was a small gathering of people and one of them suggested we need Estate Taxes, also known as Death Taxes.
Like the Income Tax, I think the Death Tax is a bad idea.
Here’s an interesting perspective on the Estate (Death) Tax from Professor Steve Landsburg
Here’s another perspective on this subject from Steve Entin.
So you work hard all your life, get taxed to death while your alive & then they tax your children to death when you die.Sounds to me like whomever is suggesting this is an idiot.Maybe he or she should just give theirs to the government,not mine.
Well put Dennis.. In the United States the Estate Tax is nothing more than a second tax on income that has already been taxed in the year it was earned.. The introduction of an Estate Tax always includes Gift Tax provisions where an individual is taxed even if he decides to give away his hard earned wealth..
Uncontrollable spending on the part of irresponsible governments force the introduction of such harmful taxation programs.. Let us not forget that the power to tax its citizens is the power to control its citizens.. Governments that promise their citizens more and more are on the path to economic and financial destruction.. Witness what is happening today in the United States and the European Community.. Debt, deficits and debasement of their currencies are destroying these once great economic nations..
Amen Tradewinds.The first thing this government needs to do is to stop the out of control spending.One of the ways that I think they can do that is to get rid of some of the biggest burdens ie.ZNS,BEC,Bahamasair etc.etc.etc.These are tools that the politicians are using at our expense & enough is enough.ZNS microphone was muffled when they began & its muffled now,absolutely no improvement what so ever yet we just keep pumping millions on top of millions into it, why ? For what ? The government needs to stop this bleeding ASAP !What about the way they are taxing business ? They kill you with the duty, then they kill you with your business license.That is burning the candle on both ends & we all know what happens when you do that.To me, the more you grow, the more duty you pay & I can live with that but why kill you with the business license to ?