Data Point – Govt doesn’t like you giving your money away without getting a cut

by Skip

Sounds like the Mafia, right – “a cut”.  But what other takeaway can there be to this but that Govt wants us to be less charitable – but they want more:

In 2012:

  • you can give a tax-free gift of up to $13,000 per person.
  • If you’re married, you and your spouse can each make such a gift (total of $26,000)
  • Lifetime gifting:  Lifetime giving each is $5,120,000 to a person

In 2013,

  • Lifetime gifting:  the limit drops is $1,000,000 to a person (big drop from $5MM)

Once again, we see Government wanting more and Society with less.  If I have earned this money, and I want to give it to someone of my own free and voluntary will, why should Govt get a cut for which they have not earned? On money that I have already paid taxes once on (and if the money is derived from dividends, money that has been taxed TWICE).

So, who are the greedy ones?

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  • mer

    No such thing as “private charity”. The government does charity better than you. Just ask the people in Staten Island, Manhatten who they got more help from: FEMA, or the Red Cross, the Salvation Army and the Mormons?

    FY 2012: federal government spending is about $10 billion/day. Bill Gate’s worth about 62 billion, Warren Buffet, 44 billion. Confiscate at 100% they can run the federal government for about 11 days. But we have a revenue problem, not a spending problem.

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