House Rejects Change To Estate Tax

Begins vote on FINAL passage of TAX bill... It just passed....*W00*

 

I can't fathom how any estate tax is fair. That money and property has been taxed all to hell as it was being earned and owned. Income tax, payroll tax, sales tax, property tax, etc, etc.

Now the government wants to take 50% of whats left. Do the math. A person would probably actually pay up to 75% of the value of their estate in taxes. The UCSA. You know what the C is for.

 

I agree! It isn't fair. Until today there was no tax on an estate. Which is the way it "should" be. This way it is double taxation and a "death" tax. And now unemployment benefits are extended for 13 months. Both parties had to compromise, each losing and each gaining something. I wanted to see them extended permanently so that BIG business could expand. I think though, all this will take care of itself in the future.

 

The Government can never justify the Estate tax ever. It's money grubbing that is reminiscent of a King we once fought against that was equally guilty of the very same agredious err toward liberty.

 

I could have lived with this getting kicked into next year.

 

After delays and a contentious floor debate, the tax compromise bill developed by the White House and Congressional Republicans is headed to the president's desk.

The House of Representatives passed the legislation to extend the so-called Bush tax cuts and social spending measures late Thursday night by a vote of 277 to 148.

House Democrats attempted to modify the estate tax provision in the deal that passed the Senate Wednesday. They wanted to diminish the amount of money that is exempt from taxes from $5 million to $3.5 million and increase the amount at which assets above that threshold would be taxed from 35 percent to 45 percent. Many Democrats felt the terms in the Senate proposal were too generous for the wealthy.That effort failed.

The bill now heads to President Obama's desk. If Obama signs the measure, it will prevent a tax increase that was scheduled to occur on January 1, 2011.

Congress Passes Bill to Extend Bush Tax Cuts - FoxNews.com

 

With any luck? The president will VETO it.

 

It's stealing. Putting our money into the hands of the government instead of the economy.

 

No, this is the agreement he made with Republicans. It would be nice if he did and then the government could shut down and then on Jan. 5, rise again. Of course Obama could still veto it. Oh, the games!

 

Yep, property tax is a real problem in America where you only rent the land and hold a piece of paper saying you have rights to it over citizens, but not over government. The prime reason why Socialist Germany pays less taxes than Americans do.