Calculating the asset value of the property

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Reference no: EM131934001

Question: There is the argument that the estate tax is a form of double taxation. However, during the life of the business, the company is taxed on the profits that it generates. The estate tax is based on the asset value of the property being transferred. So how does this amount to double taxation?

There are some people who believe the entire tax code is unfair. The code is set up in such a way that ordinary taxpayers can't afford to pay tax experts who can help reduce their tax liabilities. Wealthier people and companies clearly can afford to pay higher taxes than lower income individuals and companies. However, the larger companies and wealthier individuals will hire tax experts who will reduce their tax liabilities all within the law.

Do you think this is a fair system that allows this to happen?

Reference no: EM131934001

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