Death and Taxes: A Certainty of Life
What is a death tax?
A death tax is a tax levied by the federal and some state governments on someone's estate after death. This tax is levied on beneficiaries who received property in the will of the deceased or on inheritances that pay tax before the property is transferred.
What is the Uniform Tax Credit?
The Uniform Tax Credit sets the amount a person can contribute throughout their lifetime before taxes on death or gift are applied. A tax credit combines gift and estate taxes into one tax system, reducing a person's or estate's tax bill by the dollar.
What is the game 'Death and Taxes' about?
In the game 'Death and Taxes', players assume the role of a Grim Reaper who must bureaucratically decide the fate of people, specifically whether they will live or die. The game shares an ideology with the Death Positive movement.
Answer
Benjamin Franklin's famous phrase 'Death and taxes' underscores the certainty of these two events.
Benjamin Franklin's iconic quote emphasizes the inevitability of both death and taxes in life. Despite the adoption of new constitutions and promises of strength, these two constants remain unchanged. Death taxes play a significant role in the financial landscape, impacting individuals and their estates after passing.
The Uniform Tax Credit offers a way to manage taxes on gifts and estates, providing a structured system for calculating tax obligations. Understanding the implications of this credit can help individuals plan their financial arrangements effectively.
'Death and Taxes', the simulation video game, offers players a unique perspective on decision-making and mortality. By embodying the role of a Grim Reaper, players engage with philosophical concepts surrounding life and death, reflecting on the choices that shape our existence.