[–] 0110001111 [S] 0 points 4 points 4 points (+4|-0) ago
From one of the documentations
The estate tax was a pick-up tax imposed to absorb the maximum amount of credit allowed by federal estate tax law toward state death taxes
Truly a matter of, "we're gonna gouge you whether its legal or not"
[–] BurninEpix 0 points 1 point 1 point (+1|-0) ago (edited ago)
I saw a video a few weeks ago that went into this in-depth. Kind of makes sense from the deep States point of view. Don't want multi-generational families accruing too much wealth and gaining any type of power.
[–] newoldwave ago
The state will tax you to death and afterward as well.
[–] 0110001111 [S] 0 points 1 point 1 point (+1|-0) ago
I find it ironic that the bluest and most "progressive" states require the most taxes and fees and hidden payments. Texas, for example has 0% tax on inheritance. So why is it that Texas is considered a hateful and barbaric country who oppresses its citizens, whilst blue states are considered progressive utopias. If anything, its backwards
[–] newoldwave ago
Democrats are liberals and liberalism is a mental illness. Backwards and upside down seems normal to them.
[–] Tallest_Skil 0 points 4 points 4 points (+4|-0) ago
YOU DON’T OWN FUCKING NOTHING, GOYIM.
[–] Dark_Shroud 0 points 6 points 6 points (+6|-0) ago
Yup and its sad because a good portion of millennials are only ever going to own houses via inheritance from their family.
So now in Pennsylvania elderly will have to sell their assets to their heirs before they die. Time to go back to hording cash and precious coins/ingots to avoid this asshole tax.
"Here is a house for $1 with the condition that I'm allowed to live here until I die."
[–] 0110001111 [S] 0 points 2 points 2 points (+2|-0) ago
The problem with these shitty inheritance taxes is that rich people can easily avoid them. For example, lets say you have a relative. You declare said relative died in god knows where(France for example), and claim a tax credit against the capital loss in another country. Then you file taxes for that country, involuntarily, stopping you from paying the inheritance tax in PA. The PA tax only applies to PA residents, and people with holdings in PA. So now, richy mcrich not only pays 0% in taxes, he gets money given back to him in the form of a credit, with a carry over for up to 10 years, whilst the honest citizen in PA gets fucked with a 15% max rate