its not a death tax ..

[bendog]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

Buffet's wealth, just like that of all .01%ers, is sheltered is tax avoiding trusts.

The estate tax mostly hits upper middle class people who worked hard and saved (and already paid taxes on) money or built family businesses.

Yes, the estate tax is a death tax, and should be eliminated.

A family business can just be put in a closed corporation, and there's no tax.

In fact, households affected fall somewhere between the 95th and 99th percentile of all U.S. households: According to the Wall Street Journal, the top 1% of households have a net worth of at least $6.8 million, while the top 5% have a net worth of at least $1.9 million.
How Many People Pay the Estate Tax?

it's about passive income.

 

[boedicca]

I'm still waiting for someone to justify why a 2nd tax on wealth that has already been taxed is fair? Some are always harping about fairness and a fair share so explain it, why should the thieving state and federal governments slap a death tax on wealth they already received their fair share of???

Yeah why do I pay property taxes every year. It's just not fair.

You pay property taxes every year to fund schools and services. What are you proposing to spend death tax wealth confiscation money on?

Duh. More death.

 

[boedicca]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

Buffet's wealth, just like that of all .01%ers, is sheltered is tax avoiding trusts.

The estate tax mostly hits upper middle class people who worked hard and saved (and already paid taxes on) money or built family businesses.

Yes, the estate tax is a death tax, and should be eliminated.

A family business can just be put in a closed corporation, and there's no tax.

In fact, households affected fall somewhere between the 95th and 99th percentile of all U.S. households: According to the Wall Street Journal, the top 1% of households have a net worth of at least $6.8 million, while the top 5% have a net worth of at least $1.9 million.
How Many People Pay the Estate Tax?

it's about passive income.

So, the tax mainly affects families with annual incomes between $160K - $400K. That is hardly rich. And BFD if it's passive income. It belongs to them.

 

[bendog]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

Buffet's wealth, just like that of all .01%ers, is sheltered is tax avoiding trusts.

The estate tax mostly hits upper middle class people who worked hard and saved (and already paid taxes on) money or built family businesses.

Yes, the estate tax is a death tax, and should be eliminated.

A family business can just be put in a closed corporation, and there's no tax.

In fact, households affected fall somewhere between the 95th and 99th percentile of all U.S. households: According to the Wall Street Journal, the top 1% of households have a net worth of at least $6.8 million, while the top 5% have a net worth of at least $1.9 million.
How Many People Pay the Estate Tax?

it's about passive income.

So, the tax mainly affects families with annual incomes between $160K - $400K. That is hardly rich. And BFD if it's passive income. It belongs to them.

It's not based on INCOME. That's really the only justification I can see - very rich people who show little to no income. And that should be ended by removing deductions so they try to earn as much as they can by being as productive as possible.

But more importantly, it's just not much of an issue for a family biz

Who pays the estate tax?

 

[BlindBoo]

I'm still waiting for someone to justify why a 2nd tax on wealth that has already been taxed is fair? Some are always harping about fairness and a fair share so explain it, why should the thieving state and federal governments slap a death tax on wealth they already received their fair share of???

Yeah why do I pay property taxes every year. It's just not fair.

You pay property taxes every year to fund schools and services. What are you proposing to spend death tax wealth confiscation money on?

A balance budget amendment. Then a term limit amendment.

 

[boedicca]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

Buffet's wealth, just like that of all .01%ers, is sheltered is tax avoiding trusts.

The estate tax mostly hits upper middle class people who worked hard and saved (and already paid taxes on) money or built family businesses.

Yes, the estate tax is a death tax, and should be eliminated.

A family business can just be put in a closed corporation, and there's no tax.

In fact, households affected fall somewhere between the 95th and 99th percentile of all U.S. households: According to the Wall Street Journal, the top 1% of households have a net worth of at least $6.8 million, while the top 5% have a net worth of at least $1.9 million.
How Many People Pay the Estate Tax?

it's about passive income.

So, the tax mainly affects families with annual incomes between $160K - $400K. That is hardly rich. And BFD if it's passive income. It belongs to them.

It's not based on INCOME. That's really the only justification I can see - very rich people who show little to no income. And that should be ended by removing deductions so they try to earn as much as they can by being as productive as possible.

But more importantly, it's just not much of an issue for a family biz

Who pays the estate tax?

 

[boedicca]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

Buffet's wealth, just like that of all .01%ers, is sheltered is tax avoiding trusts.

The estate tax mostly hits upper middle class people who worked hard and saved (and already paid taxes on) money or built family businesses.

Yes, the estate tax is a death tax, and should be eliminated.

A family business can just be put in a closed corporation, and there's no tax.

In fact, households affected fall somewhere between the 95th and 99th percentile of all U.S. households: According to the Wall Street Journal, the top 1% of households have a net worth of at least $6.8 million, while the top 5% have a net worth of at least $1.9 million.
How Many People Pay the Estate Tax?

it's about passive income.

So, the tax mainly affects families with annual incomes between $160K - $400K. That is hardly rich. And BFD if it's passive income. It belongs to them.

It's not based on INCOME. That's really the only justification I can see - very rich people who show little to no income. And that should be ended by removing deductions so they try to earn as much as they can by being as productive as possible.

But more importantly, it's just not much of an issue for a family biz

Who pays the estate tax?

OK, play it your way. In 2016, the net worth cut off to be in the top 5% was $2.4M, for the top 1%, the minimum net worth was $10.4M. As the tax currently only applies to amounts above $5.45M (or $10.9M) for married couples, your 1-5% claim is pretty bogus. But even if it were true, these amounts are not that high. $2.4M could be a house in California. A death taxes forces a sale or taking out a mortgage to pay the tax if the inheritor wants to live in it. Seriously, you support that?

 

[Siete]

gee, its almost like estate planners who know how to deal with taxes don't or havent existed, and people with large estates have never heard of them...

amazing ............

 

[Doc1]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

It's already been taxed dumbass.

 

[Siete]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

It's already been taxed dumbass.

ya see Dope, rich people with a large stock portfolio like Buffet wont pay tax until they sell ..

 

[westwall]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

He's a miserable lying piece of shit. He can leave any amount of money, to whatever charitable organization he chooses. He can do this at any time. He claims to want to be taxed more yet owed over a billion dollars in back taxes when he made the claim. The estate tax only hurts the middle class. The rich and the super rich like your asshole hero here, pay millions of dollars to set up Complex Irrevocable Trusts that shield their estates from taxes.

Why do you carry the water for a known lying sack of shit?

name one... JUST FUCKING ONE word or sentence that leads your stupid ass to believe I'm pro estate tax.... GO FOR IT GOMER.

YOU made the OP with a Buffet quote., He's in favor of the tax, yet you said nothing against what he is saying. So, dipshit, that only leaves one other position for you to take.

 

[westwall]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

It's already been taxed dumbass.

ya see Dope, rich people with a large stock portfolio like Buffet wont pay tax until they sell ..

And they don't pay it when they do sell either. When rockefeller inherited his multi billions he was on the hook for slightly over 100,000 dollars. You tell me how the estate tax hurts them.

 

[imawhosure]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

He's a miserable lying piece of shit. He can leave any amount of money, to whatever charitable organization he chooses. He can do this at any time. He claims to want to be taxed more yet owed over a billion dollars in back taxes when he made the claim. The estate tax only hurts the middle class. The rich and the super rich like your asshole hero here, pay millions of dollars to set up Complex Irrevocable Trusts that shield their estates from taxes.

Why do you carry the water for a known lying sack of shit?

The estate tax only hurts the middle class.

This year the exemption is 5.49 million dollars. That is you can inherit 5.49 million dollar before you need to pay any tax at all.

Well, we all know it is for farms, etc, why this needs to go, but let me give an example that even the LEFT can understand--------->

Ever hear of the Washington Redskins? Well, when Jack, Kent, Cooke died, his heirs got hit with the estate tax. Guess what! His heirs didn't have the cash on hand to pay it, and so, the Washington Redskins were sold to Snyder. The Cooke family tried everything to hold onto the team, but in the end could not.

Now, I am not asking ANYONE to feel sorry for them, but I ask you people-------------> 1 minute before the man died, it was an asset for the family. 1 minute after he died, it was a huge tax liability. How does that compute?

Want to know an example of a different story? Remember George Steinbrenner? When he died, the estate tax had temporarily lapsed, so the Steinbrenner family got to keep the Yankees. Now that doesn't mean that if it had been in effect at his passing, the Steinbrenner family did NOT have enough liquid assets to keep them; but that is NOT the point! Why is the left so hell bent on this? It does NOTHING for them, it just gives the money to government, who then summarily pisses it away. Do you trust government, or like government MORE than the Cooke or Steinbrenner family? And if so, why!

You work all your life, you succeed, and then the government swoops in, and takes 40 or 50% from your heirs? That is Marxism in my book, and if it is not, then why don't you demand that they take it from them while they are still alive?

 

[Siete]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

He's a miserable lying piece of shit. He can leave any amount of money, to whatever charitable organization he chooses. He can do this at any time. He claims to want to be taxed more yet owed over a billion dollars in back taxes when he made the claim. The estate tax only hurts the middle class. The rich and the super rich like your asshole hero here, pay millions of dollars to set up Complex Irrevocable Trusts that shield their estates from taxes.

Why do you carry the water for a known lying sack of shit?

The estate tax only hurts the middle class.

This year the exemption is 5.49 million dollars. That is you can inherit 5.49 million dollar before you need to pay any tax at all.

Well, we all know it is for farms, etc, why this needs to go, but let me give an example that even the LEFT can understand--------->

Ever hear of the Washington Redskins? Well, when Jack, Kent, Cooke died, his heirs got hit with the estate tax. Guess what! His heirs didn't have the cash on hand to pay it, and so, the Washington Redskins were sold to Snyder. The Cooke family tried everything to hold onto the team, but in the end could not.

Now, I am not asking ANYONE to feel sorry for them, but I ask you people-------------> 1 minute before the man died, it was an asset for the family. 1 minute after he died, it was a huge tax liability. How does that compute?

Want to know an example of a different story? Remember George Steinbrenner? When he died, the estate tax had temporarily lapsed, so the Steinbrenner family got to keep the Yankees. Now that doesn't mean that if it had been in effect at his passing, the Steinbrenner family did NOT have enough liquid assets to keep them; but that is NOT the point! Why is the left so hell bent on this? It does NOTHING for them, it just gives the money to government, who then summarily pisses it away. Do you trust government, or like government MORE than the Cooke or Steinbrenner family? And if so, why!

You work all your life, you succeed, and then the government swoops in, and takes 40 or 50% from your heirs? That is Marxism in my book, and if it is not, then why don't you demand that they take it from them while they are still alive?

Warren Buffett Lost More Money Than Anyone in the World on Tuesday

the big boys lose more on a bad market day than an estate tax effects them...

I dont give a shit if they pay an estate tax or not on $80 Billion $$$ ... its like me buying a bucket of churches chicken.

 

[westwall]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

He's a miserable lying piece of shit. He can leave any amount of money, to whatever charitable organization he chooses. He can do this at any time. He claims to want to be taxed more yet owed over a billion dollars in back taxes when he made the claim. The estate tax only hurts the middle class. The rich and the super rich like your asshole hero here, pay millions of dollars to set up Complex Irrevocable Trusts that shield their estates from taxes.

Why do you carry the water for a known lying sack of shit?

The estate tax only hurts the middle class.

This year the exemption is 5.49 million dollars. That is you can inherit 5.49 million dollar before you need to pay any tax at all.

Well, we all know it is for farms, etc, why this needs to go, but let me give an example that even the LEFT can understand--------->

Ever hear of the Washington Redskins? Well, when Jack, Kent, Cooke died, his heirs got hit with the estate tax. Guess what! His heirs didn't have the cash on hand to pay it, and so, the Washington Redskins were sold to Snyder. The Cooke family tried everything to hold onto the team, but in the end could not.

Now, I am not asking ANYONE to feel sorry for them, but I ask you people-------------> 1 minute before the man died, it was an asset for the family. 1 minute after he died, it was a huge tax liability. How does that compute?

Want to know an example of a different story? Remember George Steinbrenner? When he died, the estate tax had temporarily lapsed, so the Steinbrenner family got to keep the Yankees. Now that doesn't mean that if it had been in effect at his passing, the Steinbrenner family did NOT have enough liquid assets to keep them; but that is NOT the point! Why is the left so hell bent on this? It does NOTHING for them, it just gives the money to government, who then summarily pisses it away. Do you trust government, or like government MORE than the Cooke or Steinbrenner family? And if so, why!

You work all your life, you succeed, and then the government swoops in, and takes 40 or 50% from your heirs? That is Marxism in my book, and if it is not, then why don't you demand that they take it from them while they are still alive?

Warren Buffett Lost More Money Than Anyone in the World on Tuesday

the big boys lose more on a bad market day than an estate tax effects them...

I dont give a shit if they pay an estate tax or not on $80 Billion $$$ ... its like me buying a bucket of churches chicken.

And it all comes back. A friend of mine lost 500 million dollars on Black Monday back in 1987. He was back to even within a few months. It's a lie. What is sad is you believe the lies.

 

[Syriusly]

"allocate resources"
AKA steal from him to give to her

If you believe that all taxes are stealing- sure.

 

[Syriusly]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

He's a miserable lying piece of shit. He can leave any amount of money, to whatever charitable organization he chooses. He can do this at any time. He claims to want to be taxed more yet owed over a billion dollars in back taxes when he made the claim. The estate tax only hurts the middle class. The rich and the super rich like your asshole hero here, pay millions of dollars to set up Complex Irrevocable Trusts that shield their estates from taxes.

Why do you carry the water for a known lying sack of shit?

Why do you carry the water for a known lying sack of shit- Donald Trump?

 

[Syriusly]

"There are going to be 2.6 million people [who] die this year in the United States," but there will be only about 5,000 tax returns that will owe estate taxes, he said in a wide-ranging interview.

Buffett said because the estate tax impacts only a small percentage of Americans, getting rid of it would not cause widespread problems.

"If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

World's second richest man Warren Buffett thinks it's a mistake to eliminate the estate tax


$S-E-V-E-N-T-Y F-I-V-E- B-I-L-L-I-O-N ...

The estate tax only hurts the middle class.

I don't know about you- but where I live- having a net worth of $10 million is not middle class.

The Average Net Worth By Age For The Upper Middle Class

The upper middle class, aka the mass affluent, are loosely defined as individuals with a net worth or investable assets between $100,000 to $2 million. Some also define upper middle class as those who are college educated with incomes in the top 15% – roughly $100,000 or greater for households or $63,000 or greater for individuals.

 

[Syriusly]

The estate tax only hurts the middle class.

This year the exemption is 5.49 million dollars. That is you can inherit 5.49 million dollar before you need to pay any tax at all.

That is for the estate of an individual- for the estate of your mom and dad- you can inherit almost $11 million dollars before you start paying taxes on the amount above that.

 

[Syriusly]

Left Winger are greedy grave robbers.
Democrats refuse to support themselves.

Right Wingers are greedy robbers of the poor.
Republicans refuse to support themselves.