That doesn’t make any sense. James is not being taxed twice. The person getting the money is being taxed on their accretion to wealth, once. It’s no diffrent then when you earn money at your job (taxed) and then you give it to someone as a gift (person receiving gift pays taxes on gifts, you do not.)
That money was subject to tax twice, yes. money is taxed all the fucking time. it was not “double taxed” as to that tax payer.
The" Double tax mugerglegurgle!!! “argument makes no fucking sense, and was invented by the republicans (I.E those who actually have money above the 5 million dollar exception to this rule) to drum up support to end "the death tax” among the 99% of the people in this country it doesn’t effect, because there is a 5 million dollar federal exception. Is your estate worth less than 5 million dollars? good news! your friends and realitives take your shit tax free.
But presented with the need to make the base of the republican party care (spoiler alert: most are going to die to poor to ever be effected) the powers that be correctly assumed that wording it as a “death tax” and “THEY WANNA TAKE YER MONEY TWICE!” arguments would be more effective then saying “5 million dollars tax free? fuck that, I have 500 million to hand down to young paris, how will she make a living on just 325 million of that??!?
Hamnight in response to people complaining that people getting taxed on the free money that they had no part in earning that James Gandolfini left to them somehow amounts to a double tax on James Gandolfini; who for the record is dead and left 70 million for 6 people to share; they will get 30 million to share and they didn’t have to work a day to “earn” it