And then everyone applauded..

But seriously if I witnessed this, I might actually applaud because that is a pretty badass bit of trivia to get to whip out.

https://youtu.be/w-aaHZ4OX7Q

Shout out Louis Theroux

I agree it needs to be a highly progressive tax. I’m generalizing because we’re discussing international tax law and I don’t know the income cutoffs for different countries.

Double taxation is a real concern only if the inheritance tax affects very low income individuals. A family who shares a car or a struggling family restaurant might have a very difficult time if they are forced to pay an unexpected tax bill.

I’m specifically talking about very low income families since I am talking about the general pros and cons of applying an inheritance tax to all citizens since we are discussing why the inheritance tax might have been removed in Austria / German. I’m not familiar with international tax law to be more specific about income levels so I’m trying ro cover all bases.

If a poor family is sharing a car or a family restaurant, it could be very damaging to have to pay tax on these assets if they don’t have savings.

I understand that this doesn’t apply to families with large assets and I agree that an inheritance tax is generally a good thing when applied progressively.

Thank you for that information. The article is about a German / Austrian woman so I was summarizing the pros and cons of an inheritance tax which might apply to any country since I don’t know the specifics of their law or why they changed it it.

I think this viewpoint assumes that everyone lives independently. A lot of families function as units and they all live and work together. If you inherit post-tax income from a family member, then the money has been fairly taxed regardless of your viewpoint.

Why should you have to pay the government to inherit your late-parent’s car or business? What happens if you can’t afford to pay the tax?

For the low income families this can make or break a person’s way of life, for the 1% it is a way of hoarding the world’s wealth and maintain power.

For regular people, an inheritance tax is not great. For the ultra-wealthy it should be mandatory.

Arguments against an inheritance tax:

• Double taxation: Critics argue that inheritance taxes are a form of double taxation, since the assets being inherited have already been taxed once during the decedent’s lifetime.
• Hurts small businesses: Family-owned businesses can face hardship if they must be sold off to pay inheritance taxes.
• Discourages investment: Inheritance taxes can disincentivize people from saving and investing, as they know a portion of their wealth will go to the government.

Arguments for an inheritance tax:

• Reduces wealth inequality: Inheritance taxes help to redistribute wealth from the very wealthy to the rest of society, reducing income inequality.
• Prevents concentration of power: By limiting the ability of wealth to be passed on unchecked, inheritance taxes can help to prevent excessive concentration of economic and political power in the hands of a few families.
• Source of government revenue: Inheritance taxes can be a significant source of revenue for governments, which can be used to fund social programs and public goods.

Here is the take away:

The only brand that did not show any markers of PFAS was Ziploc. Public health advocates say the best way consumers can protect themselves is to use glass containers instead of plastic.

That’s surprising that the black box overwrites itself after 2 hours of recording. This article linked to an article I missed about how the plane that had the door/panel fall off had the cockpit audio overwritten because it wasn’t collected in time.