The death tax is bullshit

[actsnoblemartin]

there is no other way for me to say it. The government doesnt deserve one penny let alone 50% of your accents when you die. MOST people arent warren buffett, they shouldnt have to sell business, and other things, to pay the government for being lazier then a pound of dirt.

I am outraged, the death tax should be abolished

[April15]

The generation skipping tax, also called the death tax, can be easily avoided by proper estate planning. Quit your bitching and plan !

[Joe Steel]

there is no other way for me to say it. The government doesnt deserve one penny let alone 50% of your accents when you die. MOST people arent warren buffett, they shouldnt have to sell business, and other things, to pay the government for being lazier then a pound of dirt.

I am outraged, the death tax should be abolished

You have been misinformed. Death is not taxed in the United States.

[Kathianne]

You have been misinformed. Death is not taxed in the United States.

Right the estate is taxed. Funny don't you think, that Buffet's fortune rests upon estate planning?

[Joe Steel]

Right the estate is taxed. Funny don't you think, that Buffet's fortune rests upon estate planning?

Rich people are rich because they know how to get money and how to keep it. That takes planning. It's what they do.

Planning for taxes is no big deal.

[Kathianne]

Rich people are rich because they know how to get money and how to keep it. That takes planning. It's what they do.

Planning for taxes is no big deal.

Then again, all those rich people could just donate to the IRS. Funny that he's encouraging others to support his business. Damn noble of him.

[Joe Steel]

Then again, all those rich people could just donate to the IRS. Funny that he's encouraging others to support his business. Damn noble of him.

Anyone can donate for any lawful purpose. That's not the point. Policy is the point. We can't run a government on donations. We have to have a reasonable tax policy to ensure sufficient funding of government services. Estate taxes are part of a reasonable policy.

[Kathianne]

Anyone can donate for any lawful purpose. That's not the point. Policy is the point. We can't run a government on donations. We have to have a reasonable tax policy to ensure sufficient funding of government services. Estate taxes are part of a reasonable policy.

I disagree. Did you know some middle and lower income people leave estates?
Taxing money that's been taxed is wrong. It's the same reason that there shouldn't be sales tax and an income tax.

[Joe Steel]

I disagree. Did you know some middle and lower income people leave estates?

Yes. They leave estates. An estate is any property. We all have estates...and they're not taxed upon our death unless they exceed a very high amount.


Taxing money that's been taxed is wrong.

The estate tax is levied on all property. A good deal of the property has never been taxed, for instance land. It's never been included in income so, except for real property taxes, it's never been taxed.


It's the same reason that there shouldn't be sales tax and an income tax.

Income taxes are the fairest of all taxes. No income. No tax. What could be fairer than that?

[Kathianne]

Yes. They leave estates. An estate is any property. We all have estates...and they're not taxed upon our death unless they exceed a very high amount.



The estate tax is levied on all property. A good deal of the property has never been taxed, for instance land. It's never been included in income so, except for real property taxes, it's never been taxed.



Income taxes are the fairest of all taxes. No income. No tax. What could be fairer than that?

Not sure where you get the idea that land isn't taxed. I paid over $4k last year. Then when I sell it, yup, taxed again. Actually if they would flat tax income across the board, fine. Drop all the other crap. Telephones, water, sales, gasoline. Now many of these are taxed by literally every level of government, others not by some states, but if lucky enough to live in most, yeah: state, fed, county/parish, city.

[truthmatters]

http://en.wikipedia.org/wiki/Estate_tax_in_the_United_States#Exemptions_and_tax _rates


You can leave up to 2 million and it is excempt.

In 2009 it will rise to 3.5 million.

[Joe Steel]

Not sure where you get the idea that land isn't taxed. I paid over $4k last year.

Yes. I noted real property taxes in my earlier posting.


Then when I sell it, yup, taxed again.

Maybe. If your primary residence is on your land, you have one-time exclusion and you won't have to pay taxes on the appreciation.

Note. The estate tax is like this tax. Land passed to an heir, of course, has not been sold. The estate tax captures increase in value less a very generous exclusion.


Actually if they would flat tax income across the board, fine. Drop all the other crap. Telephones, water, sales, gasoline. Now many of these are taxed by literally every level of government, others not by some states, but if lucky enough to live in most, yeah: state, fed, county/parish, city.

Taxes are the life blood of government. We need government and government can't exist without taxes. That's just the way it is.

[Kathianne]

Yes. I noted real property taxes in my earlier posting.



Maybe. If your primary residence is on your land, you have one-time exclusion and you won't have to pay taxes on the appreciation.

Note. The estate tax is like this tax. Land passed to an heir, of course, has not been sold. The estate tax captures increase in value less a very generous exclusion.



Taxes are the life blood of government. We need government and government can't exist without taxes. That's just the way it is.
and that's why they should be as minimal as possible. The government is too big and too strong, already.

[bullypulpit]

there is no other way for me to say it. The government doesnt deserve one penny let alone 50% of your accents when you die. MOST people arent warren buffett, they shouldnt have to sell business, and other things, to pay the government for being lazier then a pound of dirt.

I am outraged, the death tax should be abolished

The estate tax prevents the accumulation of too much money into too few hands. Absent an estate tax...Aristocracies tend to form.

[Joe Steel]

The estate tax prevents the accumulation of too much money into too few hands. Absent an estate tax...Aristocracies tend to form.

Exactly. That's why Thomas Jefferson, a major Founder, favored estate taxes.

[truthmatters]

An inheritance is income to the people who recieve it. The person who EARNED it is gone and as we all know you cant take it with you.

If the Paris Hiltons of the world are given billions of dollars Tax free because their realitives die what kind of a country do you think we will have in just a generation or two?

[Immanuel]

The estate tax prevents the accumulation of too much money into too few hands. Absent an estate tax...Aristocracies tend to form.

Funny... look at the Kennedy's and say that again.

I'm against the Estate Tax. Well, not the idea but the rate and motive are wrong. The rates are too high and punitive. That is what makes it wrong.


If the Paris Hiltons of the world are given billions of dallars Tax free because their realitives die what kind of acountry do you think we will have in just a generation or two?

Why is it always the Paris Hiltons of the world that proponents of the death tax point to in this debate and yet they never mention the Kennedys?

Immie

[truthmatters]

Because the Kennedys are respected by some people. Paris is an example we can all agree dont deserve to Run our country just because their great grandparent made money 100 years ago.

[Immanuel]

Because the Kennedys are respected by some people. Paris is an example we can all agree dont deserve to Run our country just because their great grandparent made money 100 years ago.

Now, that is pure and adulterated garbage.

So, because the Kennedys are respected by a few liberals that gives them a pass while the liberals, who hate corporate America, blame the Hiltons for the world's troubles?

Sorry, but that is just plain wrong in my opinion.

And to be totally honest with you, I think I would prefer that Paris Hilton run this country rather than Edward Kennedy!

Immie

[red states rule]

The estate tax prevents the accumulation of too much money into too few hands. Absent an estate tax...Aristocracies tend to form.

So libs are telling people, work hard, build your company, accumlate wealth,a nd pay taxes on it. Then when you die, we will take half of it

BP, you and your fellow libs are worse then the Mafia when it come to extorting money from people

[red states rule]

An inheritance is income to the people who recieve it. The person who EARNED it is gone and as we all know you cant take it with you.

If the Paris Hiltons of the world are given billions of dollars Tax free because their realitives die what kind of a country do you think we will have in just a generation or two?

While they are breathing, folks in Paris's tax bracket (the top 1%) are paying 36% of all Federal income Taxes. Not enough for you?

Now you want to take 50% of their wealth when they die

Libs are nothing but greedy bloodsuckers when it comes to their obsession of taking other peoples money and giving it to others

[KarlMarx]

The estate tax prevents the accumulation of too much money into too few hands. Absent an estate tax...Aristocracies tend to form.
I'm glad to see someone admit that the estate tax is nothing more than the forced redistribution of wealth.

[red states rule]

I'm glad to see someone admit that the estate tax is nothing more than the forced redistribution of wealth.

I would say BP resembles that remark

To libs, the "rich" does not need or deserve their money. So it is the governments responsibilty to "level the playing field" by punishing them and taking their money

[bullypulpit]

I'm glad to see someone admit that the estate tax is nothing more than the forced redistribution of wealth.

You say that like its a bad thing. Do YOU know ANYONE who has personally been affected by the estate tax? I don't, and my mother-in-law recently passed leaving a rather large estate which, large as it was, didn't come anywhere near the minimum at which the estate tax kicks in. The move to abolish the estate tax is being pushed by some of America's wealthiest families. But let's look at a few basic facts...

<blockquote>The Estate Tax: The Basics

The federal estate tax is the only tax on accumulated wealth in the United States. It is a transfer tax, levied at the time of death when assets transfer to heirs. It falls on the country's wealthiest households—less than 2% of all estates—but still generates significant revenue (currently $30 billion annually, or about 9% of the non-military discretionary budget).

Under the 2001 tax cut, the amount of wealth exempted from the estate tax rises from $1 million ($2 million for a couple) to $3.5 million in 2009 ($7 million for a couple). As a result, the number of households subject to the estate tax will shrink from 50,000 to about 6,000 a year.

Even at its current level, the estate tax affects only a small percentage of businesses and farms. This is in part because family-owned businesses and small farms receive special treatment under the tax, including large deductions when the business or farm represents at least 50% of the estate, and assessments that reduce the estimated value of assets. These special rules frequently allow family-owned businesses and farms to pass on $5 to $8 million, tax-free, to heirs.

Those family-owned businesses that are subject to the estate tax rarely pay the top marginal rate, and are given a generous 14-year payment schedule. The estate tax is a graduated tax with a rate structure that starts at 32% and increases to a top rate of 55% on estates exceeding $3 million. The 2001 tax bill reduces the top rate to 45% between now and 2009. The "effective rate," the percentage of the total value of the estate actually paid in taxes, averages about 30%. - <a href=http://www.dollarsandsense.org/archives/2003/0103hunter.html>Dollars and Sense</a></b>

But don't let anything like facts stand in the way of your thinking...Why change now?

[bullypulpit]

I would say BP resembles that remark

To libs, the "rich" does not need or deserve their money. So it is the governments responsibilty to "level the playing field" by punishing them and taking their money

Hey, if you earn it by the dint of your own labor, you're entitled to keep as much of it as you can, rich or not. Your assertion is just another one of your bullshit, blanket, "Libs are...", unfounded generalizations. Provide supporting information to support your assertion...if you can. Independent, credible sources only...not right-wing brain droppings.

[Joe Steel]

I'm glad to see someone admit that the estate tax is nothing more than the forced redistribution of wealth.

So?