[googlerx]

> The person who’s passsing the money down already paid tax on the money.

If they're passing down cash yes, but if they pass on assets like stocks or real estate, the cost basis gets stepped up to the fair market value at the time of death (in the US at least). So any capital gains accrued on those assets prior to the death of the person passing them on are just never taxed.

[voisin]

There isn’t a deemed disposition at the fair market value at the time of death? I thought the estate paid that capital gain which is why the inheritor receives it at the new FMV?

[humanrebar]

I think the argument is that certain kinds of inheritance, like real estate and ownership in small businesses, cannot survive the taxes. It's the "what about the family farm/store/restaurant?" argument.

[CPLX]

No. It’s completely fucking indefensible and sitting there in plain sight.

[HDThoreaun]

nope.