Tuesday, January 15, 2008

Death and Taxes

The title for this entry was based only on what was in my mind and what I wanted to write about. But, as I sit at home now, I am watching the end of "Stranger Than Fiction", a tale of a woman's novel which happens to be the same tale of a middle-aged, IRS agent. The novel's title: "Death And Taxes". I found it to be highly coincidental and amusing. Perhaps the same is true of you.

Anyway, I point out the following for several reasons, none of which are clearly defined in my own mind.

Ever heard of inheritance taxes? If you bequeath property to a loved one after you death, this tax is levied against your property. If you've had this in your own situation, then you know what I'm talking about. The main reason behind this tax is primarily the same reason behind most other taxes: you pay to gain the right to own property or money.

Sometimes money or property is given before the person dies. There can be transfers up to $11,000 from any two people without incurring taxes. However, because it is done so near to death, some states assume that the reason behind the transfer is to avoid estate or inheritance taxes.

I understand that money is and always will be a part of our society. I understand that everyone is affected by sin and falls short in many ways. I also understand that if governments didn't assume that their citizens were dishonest, many citizens would take advantage of their negligence.

I just wish we could trust people more.

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