Death and taxes and both still certain.

[Spiffor]

Originally posted by Arrian
Spiff,

The estate tax is done after the person is dead, so I'm not really sure what you're talking about...

In France, we have a "fortune tax", which is calculated accoording to your property. While it is originally intended for the richest people, the amount of people who pay for it has dramatically risen in recent years, with the ridiculous increase of real estate prices.
I thought DoY was talking about something similar.

[Kidlicious]

I occurs to me that an inheritance tax would increase taxes for those who wish to divide up their estate unevenly. People would be taxed more for favoring one child over the other.

I kind of like that idea. Maybe parents won't be able to manipulate their children as much.

[Kidlicious]

Originally posted by Spiffor

In France, we have a "fortune tax", which is calculated accoording to your property. While it is originally intended for the richest people, the amount of people who pay for it has dramatically risen in recent years, with the ridiculous increase of real estate prices.
I thought DoY was talking about something similar.

In the US you aren't taxed on increases in fair market value until the property is sold.

[duke o' york]

Same here, and even then you're given taper relief that decreases the taxable gain depending on how long you've owned the asset. Plus, you're completely exempt from tax when you sell your (main) house.

(All right, given certain conditions, but most ordinary people will easily be able to meet them. )