House Rejects Change To Estate Tax

[SwordofDamocles]

What a crock.

The estate tax should be done away with. Period.

Why the hell should the Govt, any govt, get tax money from someones estate?? This money has already been taxed once. That should be the end of the story.


Talk about a bunch of greedy theives.

Bernie Madoff?

So are all rich people Bernie Madoff's? I'd like to hear this answer.

 

[The Infidel]

The Democrats got a win on this one. It is sad though. The Estate Tax is just plain wrong. The Democrats should be ashamed of themselves.

Yep, I agree.... this is'nt going to help the economy much, b/c there is still a crapload of spending in this bill and all it will do is give the Dems fodder to say "tax cuts" dont work. (Remember, there were no "tax cuts" in this bill)

It also amazes me that the Obama zombies dont recall all of the Dems claiming that "tax cuts" wont help the economy, but all of a sudden they will help.

WTF????


They were going to pass a bill for 1.1 Trillion dollars and the American people said NO.... That bill makes this one not look so bad... that, I believe, was the plan all along.
I seriously dont think they ever intended to pass that "Omnibus Bill".

We are being played for fools.

 

[Gem]

editec wrote:

Oh boo hoo hoo.

I'm a poor scion who isn't capable of making it with only the equivalent of 10 YEARS pretax salaries of the average american family to start out with

Poor me! I know I'm such a loser I cannot make it without daddy's money

It has absolutely nothing to do with the person who inherits this money. They might be Paris Hilton, they might be the next great philanthropist, it doesn't matter.

What matters is that the individual citizen who earned that money and paid taxes on it every year of their life has the right to do with it what they wish. Even after they die.

Our rights do not end when we die. If they did, wills would be irrelevant, but they are not, because we believe that people's wishes matter - even after they die.

The government does not have the right to someone's items simply because some Americans are whiny and hate the fact that someone else might "get something for nothing."

It has nothing to do with those who get the money...and everything to do with the citizen who earned it and what THEY CHOOSE to do with their property.

Thomas Jefferson agreed:
"To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it."

 

[Intense]

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.

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

That is the point of the Estate Tax existing in the first place. High Priced Insurance Policies and Lawyers just hit the lottery. The Lobbying just paid off. Highway Robbery.

 

[California Girl]

editec wrote:

Oh boo hoo hoo.

I'm a poor scion who isn't capable of making it with only the equivalent of 10 YEARS pretax salaries of the average american family to start out with

Poor me! I know I'm such a loser I cannot make it without daddy's money

It has absolutely nothing to do with the person who inherits this money. They might be Paris Hilton, they might be the next great philanthropist, it doesn't matter.

What matters is that the individual citizen who earned that money and paid taxes on it every year of their life has the right to do with it what they wish. Even after they die.

Our rights do not end when we die. If they did, wills would be irrelevant, but they are not, because we believe that people's wishes matter - even after they die.

The government does not have the right to someone's items simply because some Americans are whiny and hate the fact that someone else might "get something for nothing."

It has nothing to do with those who get the money...and everything to do with the citizen who earned it and what THEY CHOOSE to do with their property.

Thomas Jefferson agreed:
"To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it."

*Emphasis mine*

For heavens sake, don't put more money grabbing ideas into their heads!! That'll be the next argument from the left... 'you give up your rights when you die, so your money transfers to the state'.... Money grabbing bastards.

Fortunately, we're one of those families that has really good lawyers. To quote a great man (My Dad) "No body - but no body - gets what's ours except our kids, our grandkids, our nieces and nephews... and our chosen charities".

 

[boedicca]

What a crock.

The estate tax should be done away with. Period.

Why the hell should the Govt, any govt, get tax money from someones estate?? This money has already been taxed once. That should be the end of the story.


Talk about a bunch of greedy theives.

Bernie Madoff?

It says a great deal about you that you equate honest people who work hard and save their money with a criminal who committed massive fraud.

 

[boedicca]

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.

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

 

[Wry Catcher]

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.

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

Examples please. In my jaded opinion, this is an unproven axiom of Republican propaganda.

 

[Dont Taz Me Bro]

Tax cuts for the rich passed the 111th Congress by a much wider margin than Obamacare, 277-148!

did they vote for tax cuts? or just to allow the tax rates to remain as they presently are?

Both

 

[Dont Taz Me Bro]

Oh boo hoo hoo.

I'm a poor scion who isn't capable of making it with only the equivalent of 10 YEARS pretax salaries of the average american family to start out with

Poor me! I know I'm such a loser I cannot make it without daddy's money

Unless that money is yours, it's none of your concern where it came from or how they got it. Mind your own business and stop being jealous of what other people have.

 

[Intense]

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

Examples please. In my jaded opinion, this is an unproven axiom of Republican propaganda.

Private Property would be looked at as a myth to you. What is up with that????

 

[boedicca]

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

Examples please. In my jaded opinion, this is an unproven axiom of Republican propaganda.

Do the math. If the inheritance is in business assets or a farm (largely land) there is no cash to pay the taxes. Any inheritance taxes require either a mortgage or selling all or part of the inherited "property".

It must be sad to go through life so consumed with Pea Green Envy that somebody else's parents may have had some success that they wish to pass along to their children.

 

[Intense]

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

Examples please. In my jaded opinion, this is an unproven axiom of Republican propaganda.

Do the math. If the inheritance is in business assets or a farm (largely land) there is no cash to pay the taxes. Any inheritance taxes require either a mortgage or selling all or part of the inherited "property".

It must be sad to go through life so consumed with Pea Green Envy that somebody else's parents may have had some success that they wish to pass along to their children.

Imagine building up a business over the course of a life time only to lose it instead of pass it down because of an arbitrary groundless tax. Imagine the intentions behind the indoctrination, that generates such minds to see inheritance as evil, unfair, or unearned. What drivel are our higher learning institutions filling our children's minds with? The Politics of Envy, Jealousy, and Hate.

 

[boedicca]

Our public and higher educational institutions have been drumming into the impressionable brains of children for years that they come last when it has to do with their own lives. The Public Welfare and Society come first.

 

[Toro]

The estate tax is a terrible tax. It should be eliminated and offset by income tax increases on the upper ends. The estate tax brings in about $60-$70 billion a year, so upper marginal brackets wouldn't have to rise by much.

 

[boedicca]

The estate tax is a terrible tax. It should be eliminated and offset by income tax increases on the upper ends. The estate tax brings in about $60-$70 billion a year, so upper marginal brackets wouldn't have to rise by much.

It should be offset with spending cuts, but other than that, you're absolutely correct.

 

[Toro]

The estate tax is a terrible tax. It should be eliminated and offset by income tax increases on the upper ends. The estate tax brings in about $60-$70 billion a year, so upper marginal brackets wouldn't have to rise by much.

It should be offset with spending cuts, but other than that, you're absolutely correct.

Or cut spending.

 

[Zoom-boing]

Oh boo hoo hoo.

I'm a poor scion who isn't capable of making it with only the equivalent of 10 YEARS pretax salaries of the average american family to start out with

Poor me! I know I'm such a loser I cannot make it without daddy's money

Why should the government be allowed to steal from those who die wealthy? They earned the ******* money - it's theirs to do with as they desire. Why can't people keep their hands off other people's property?

Government's preference would be that a dead persons estate, in its entirety, go to uncle.

 

[The T]

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.

A good estate planning attorney can get most multi-millionares out of paying the tax. Um well for a small fee.......

"The history of federal estate taxes indicates that the U.S. government has used estate taxes as a source of revenue during tough economic times and war."

History and Overview of the Federal Estate Tax

Not when the inheritance is a small business or a farm. In those cases, the business or farm must be sold to pay the taxes - or the property must be mortgaged.

And therefore an intentional punative siezure of property by the government.

 

[Old Rocks]

Teddy Roosevelt on the Estate Tax, 100 Years Ago | WBUR and NPR - On Point with Tom Ashbrook

We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community … The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.