Repeal of estate tax will add 269 billion to deficit

[Moonglow]

The estate tax only pulls in 12.5 billion a year....

 

[Flash]

Spending more money than you take in is what causes a deficit, not repealing taxes.

Repealing the inheritance tax is the right thing to do.

Not going into debt by spending more money than the government takes in is also the right thing to do.

Liberals always have a difficult time understanding simple concepts like that.

 

[2aguy]

Because we should never expect our government to really cut spending and live within its means

LOL,

You must be fucking kidding? Your wars and tax cuts are the cause of the debt. Not infrastructure, science, r&d, and education. Of course, anything that helps anyone else besides the very top is bad within your eyes.

Both infrastructure and science make up 5% of the entire budget. How exactly does it cause our debt?? It was higher under Reagan.

Living within our means would be slashing science, infrastructure and r&d investment into the ground as long as you don't wish to reform the real trouble makers. We'll be a third world shit hole! Of course, you'll blame it on Obama when we lose our first rate status as you're a pon.

No....social welfare programs are the cause of the debt...exessive taxation kills growth which also reduces tax revenue....

 

[Flash]

Supporting an inheritance tax is a great example of Liberal greed and envy and is despicable.

We don't have deficits because we don't tax enough. We have deficits because we spend too much.

 

[peach174]

Because we should never expect our government to really cut spending and live within its means

LOL,

You must be fucking kidding? Your wars and tax cuts are the cause of the debt. Not infrastructure, science, r&d, and education. Of course, anything that helps anyone else besides the very top is bad within your eyes.

Both infrastructure and science make up 5% of the entire budget. How exactly does it cause our debt?? It was higher under Reagan.

Living within our means would be slashing science, infrastructure and r&d investment into the ground as long as you don't wish to reform the real trouble makers. We'll be a third world shit hole! Of course, you'll blame it on Obama when we lose our first rate status as you're a pon.

You're a goddamn broken record.

Here, let me fix that for ya.

And you have the iq of a cows asshole. You don't understand the damage you do with shit like this.

You do not understand the damage the estate tax does to our Farmers, Ranchers and Mom & Pop Stores.

 

[Stephanie]

just ran across this. this should piss off a lot of citizens. as well as them telling YOU that by eliminating the DEATH tax will ADD to the deficit

snip;



102 Years of Taxation in One Chart Shows How Far the IRS Had Intruded Into Americans’ Lives
By Michael Hausam (23 hours ago) | Business, Industry, Nation

IJRShareEmail

Getty - Scott Olson

The modern income tax began in February 1913 when Congress passed the Sixteenth Amendment to the Constitution, thanks to the administration of Republican William Howard Taft.

The House passed the short amendment in July 1909, with a 318 to 14 vote:

The Congress shall have power to lay and collect taxes on income, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

The first tax bill came from the Woodrow Wilson administration in 1913. Wilson made the income tax a key part of his electoral campaign (the Republican party platform of 1912 did not mention the income tax).

The tax code from 1913 has evolved substantially in the past hundred years, as seen in this infographic from Americans for Tax Reform:


Image Credit: Americans for Tax Reform



Supporters of the new amendment called it “a victory for social justice and reform.” The press, however, openly debated the topic in 1913:

• The Philadelphia Public Ledger: “Income taxes give rise to mendacity, to espionage, and to inquisitions that are vexatious, but they have one great virtue: direct taxes bring home… the meaning of taxation and of expensive governmental undertakings with certainty and power”
• The St. Louis Globe-Democrat: “This is the most objectionable of all forms of taxes.”
• The New York Herald: “Wrong in principle and un-American in Spirit.”
• The Springfield Republican: “The Sixteenth Amendment owes its existence mainly to the West and South, where individual incomes of $5,000 or over are comparatively few.”
• The Evening Mail: “He has a mean spirit who objects to an income tax.”

Here’s a history of the top and bottom income tax brackets [sp. “Marginal”]:

ALL of it here:
102 Years of Taxation in One Chart Shows How Far the IRS Had Intruded Into Americans Lives

 

[Stephanie]

Supporting an inheritance tax is a great example of Liberal greed and envy and is despicable.

We don't have deficits because we don't tax enough. We have deficits because we spend too much.

BINGO to both
it's just sickening to watch our fellow citizens fall for something like this thread is PUSHING

 

[Moonglow]

just ran across this. this should piss off a lot of citizens. as well as them telling YOU that by eliminating the DEATH tax will ADD to the deficit

snip;



102 Years of Taxation in One Chart Shows How Far the IRS Had Intruded Into Americans’ Lives
By Michael Hausam (23 hours ago) | Business, Industry, Nation

IJRShareEmail

Getty - Scott Olson

The modern income tax began in February 1913 when Congress passed the Sixteenth Amendment to the Constitution, thanks to the administration of Republican William Howard Taft.

The House passed the short amendment in July 1909, with a 318 to 14 vote:

The Congress shall have power to lay and collect taxes on income, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

The first tax bill came from the Woodrow Wilson administration in 1913. Wilson made the income tax a key part of his electoral campaign (the Republican party platform of 1912 did not mention the income tax).

The tax code from 1913 has evolved substantially in the past hundred years, as seen in this infographic from Americans for Tax Reform:


Image Credit: Americans for Tax Reform



Supporters of the new amendment called it “a victory for social justice and reform.” The press, however, openly debated the topic in 1913:

• The Philadelphia Public Ledger: “Income taxes give rise to mendacity, to espionage, and to inquisitions that are vexatious, but they have one great virtue: direct taxes bring home… the meaning of taxation and of expensive governmental undertakings with certainty and power”
• The St. Louis Globe-Democrat: “This is the most objectionable of all forms of taxes.”
• The New York Herald: “Wrong in principle and un-American in Spirit.”
• The Springfield Republican: “The Sixteenth Amendment owes its existence mainly to the West and South, where individual incomes of $5,000 or over are comparatively few.”
• The Evening Mail: “He has a mean spirit who objects to an income tax.”

Here’s a history of the top and bottom income tax brackets [sp. “Marginal”]:

ALL of it here:
102 Years of Taxation in One Chart Shows How Far the IRS Had Intruded Into Americans Lives

And it all started because of the temperance movement, which turned into a Prohibition movement..They had to tax incomes because the govt. was getting 80% of it's revenue by taxing beer and liquor producers...

 

[Hossfly]

Their hypocrisy and wealthy coddling politics never get old.

Wills Trusts Estates Prof Blog

And the very thought of not being able to steal other people's money just outrages modern American lolberals.

So basically you don't care about the deficit? Or do you just defend republicans regardless of what they actually do? This move would only affect a few thousand of the wealthiest Americans. Are you that much of a stooge to support this?

Yes, we care about the deficit. How about doing something about it, you know not spending money we don't have. Eliminate the BS EPA regs that raise energy rates for everything. Reduce taxes across the board so the middle class can actually keep their money. Investing in the space program would pay such huge dividends in terms of economic development that we probably could spend our way out of the basement that you dreamers have put us in.

You do realize of course that government spending itself is necessary for ANY part of the government to function right? Yes over spending is an issue, but that doesn't mean cutting taxes doesn't further exasperate the problem. This is basic common sense. Less revenue means more borrowing.

You know where all the major spending increases have gone since Bush and Obama started? Defense. The kind of spending you people love. That and Bush's tax cuts.

Defense spending = Keeping ISIS and militant Islam off our shores. More money should be spent on border security. Or you and your unwashed rabble will be praying toward Mecca.

 

[Stephanie]

Their hypocrisy and wealthy coddling politics never get old.

Wills Trusts Estates Prof Blog

And the very thought of not being able to steal other people's money just outrages modern American lolberals.

So basically you don't care about the deficit? Or do you just defend republicans regardless of what they actually do? This move would only affect a few thousand of the wealthiest Americans. Are you that much of a stooge to support this?

Yes, we care about the deficit. How about doing something about it, you know not spending money we don't have. Eliminate the BS EPA regs that raise energy rates for everything. Reduce taxes across the board so the middle class can actually keep their money. Investing in the space program would pay such huge dividends in terms of economic development that we probably could spend our way out of the basement that you dreamers have put us in.

You do realize of course that government spending itself is necessary for ANY part of the government to function right? Yes over spending is an issue, but that doesn't mean cutting taxes doesn't further exasperate the problem. This is basic common sense. Less revenue means more borrowing.

You know where all the major spending increases have gone since Bush and Obama started? Defense. The kind of spending you people love. That and Bush's tax cuts.

Defense spending = Keeping ISIS and militant Islam off our shores. More money should be spent on border security. Or you and your unwashed rabble will be praying toward Mecca.

That is the Number one Priority of this Federal Government. not social programs, putting new entitlements on our backs, like ObamaCare, etc. We are nothing to them but their SLAVES

 

[regent]

I think Jefferson and others were trying to prevent a form of European nobility in the US, with families passing on their estates to their children and then to their children's children with no end in sight. Once a family acquires a large estate in the US it is wealth that can continue to grow making the family even more wealthy. With the wealth the family is able to grease legislators with contributions, regarding taxes, and bingo America has a permanent class of elites. The beauty of a wealthy family is that it does not have to work but sit around waiting for the elders to die.

Please read and learn.
Ignorance is embarrassing to watch

Estate Taxes An Historical Perspective

I think Jefferson and others were trying to prevent a form of European nobility in the US, with families passing on their estates to their children and then to their children's children with no end in sight. Once a family acquires a large estate in the US it is wealth that can continue to grow making the family even more wealthy. With the wealth the family is able to grease legislators with contributions, regarding taxes, and bingo America has a permanent class of elites. The beauty of a wealthy family is that it does not have to work but sit around waiting for the elders to die.

Please read and learn.
Ignorance is embarrassing to watch

Estate Taxes An Historical Perspective

Jefferson promoted laws against primogeniture and entail. Perhaps the inheritance tax is not just a form of raising money but an extension of those attempts to keep the wealthy families from having too much wealth and power.

 

[Flash]

Eight years ago Bush was president. Seven years ago, Bush was president. Four years ago the GOP won the House. Last year the GOP won the Senate.

That does not add up to 8 years of Democratic rule, genius.

The inconvenient truth that the Liberals refuse to acknowledge is that the economy was doing fine until Barney Queerboy, Harry Reid and that Looney Tunes Nancy Peloski took over the Congress in 2007. The deficits budgets of 2007 and 2008 were all Democrat creations and Senator Obama voted for them. Then you add on two more years of total Democrat control. six years of a worthless Democrat President and a corrupt Democrat controlled Senate and then you have the recipe for disaster.

The Democrats really screwed this country bad .

 

[Flash]

That is the Number one Priority of this Federal Government. not social programs, putting new entitlements on our backs, like ObamaCare, etc. We are nothing to them but their SLAVES

The sad thing is these Liberals enjoy being slaves on the welfare plantation. They like their free food, housing subsidies, fuel subsides, disability payments, health insurance and of course Obamaphones.

Life is good when they vote for socialists like Obama. Their welfare plantation doesn't even require that they work. All they have to do is vote for Democrats whenever there is an election.

However, that is not enough. Like the greedy people they are they want more and more and taking money away from families doesn't bother them at all. Greed is a terrible affliction.

 

[Stephanie]

That is the Number one Priority of this Federal Government. not social programs, putting new entitlements on our backs, like ObamaCare, etc. We are nothing to them but their SLAVES

The sad thing is these Liberals enjoy being slaves on the welfare plantation. They like their free food, housing subsidies, fuel subsides, disability payments, health insurance and of course Obamaphones.

Life is good when they vote for socialists like Obama. Their welfare plantation doesn't even require that they work. All they have to do is vote for Democrats whenever there is an election.

However, that is not enough. Like the greedy people they are they want more and more and taking money away from families doesn't bother them at all. Greed is a terrible affliction.

That is the sad facts. I watched it progress over my 60 years, from people wanting to be left alone by this government and would rather starve than beg for government assistance, to what it is today

47% of the people are on some form of taxpayer/government assistance. we are this close, only a few more percentage to being done. it's been sad to watch

 

[mudwhistle]

Their hypocrisy and wealthy coddling politics never get old.

Wills Trusts Estates Prof Blog

Actually many of Obama's proposals would add trillions to the debt......but Thank God nobody votes for them.

 

[Nutz]

That is the Number one Priority of this Federal Government. not social programs, putting new entitlements on our backs, like ObamaCare, etc. We are nothing to them but their SLAVES

The sad thing is these Liberals enjoy being slaves on the welfare plantation. They like their free food, housing subsidies, fuel subsides, disability payments, health insurance and of course Obamaphones.

Life is good when they vote for socialists like Obama. Their welfare plantation doesn't even require that they work. All they have to do is vote for Democrats whenever there is an election.

However, that is not enough. Like the greedy people they are they want more and more and taking money away from families doesn't bother them at all. Greed is a terrible affliction.

That is the sad facts. I watched it progress over my 60 years, from people wanting to be left alone by this government and would rather starve than beg for government assistance, to what it is today

47% of the people are on some form of taxpayer/government assistance. we are this close, only a few more percentage to being done. it's been sad to watch

Says the welfare queen.

 

[Flash]

That is the sad facts. I watched it progress over my 60 years, from people wanting to be left alone by this government and would rather starve than beg for government assistance, to what it is today

47% of the people are on some form of taxpayer/government assistance. we are this close, only a few more percentage to being done. it's been sad to watch

You are correct.

I was born in 1947. When I was younger it was considered shameful to be on welfare and people worked to get off of it as fast as they could.

When my wife and I were just starting out we didn't have much and we probably qualified for some kind of assistance but we didn't even think about doing something like that. Nowadays everybody thinks it is an entitlement. The Liberals have made it that way. Having the welfare plantation gets them power and it is disgusting.

 

[regent]

During the Great Depression those with jobs called the unemployed the usual names, but then when the defense contracts began arriving all the lazy unemployed went to work sometimes at two jobs. There is something superior about having a job and that's probably the reason why FDR made the unemployed work for their dole. The sad thing was that most WPA, CCC. PWA and others probably doubted they had real jobs, but at least they worked.

 

[Marxist]

Funny, how Republicans keep telling the poor they don't work hard enough. But they want a lot of idle rich kids to get lot's of what they never worked for and never will. And so many end up dead from having too much given to them for free. Pity.

Such is the way of a society where true hard workers are constantly exploited.

A true hard worker uses both skill and intelligence to better his and his families lot in life. Tough concept for a communist to grasp standing in the welfare line.

Really? A true hard worker, by your definition, is a wall street scum bag, not the majority of the working population, or the world. Diamond miners, sweatshop workers, construction workers, service workers, we can't all be business leaders, that's hilarious. It's not just skill and intelligence,it depends on the area, the money one has, the conditions they have, the schooling available, the opportunities, the country.. I'm in a welfare line? I work, sorry, although welfare is a wonderful thing the state has done.

 

[Agit8r]

A tax on wealthy estates is very American:

"The great object should be to combat the evil: 1. By establishing a political equality among all; 2. By witholding unnecessary opportunities from a few to increase the inequality of property by an immoderate, and especially an unmerited, accumulation of riches; 3. By the silent operation of laws which, without violating the rights of property, reduce extreme wealth towards a state of mediocrity and raise extreme indigence towards a state of comfort"
-- James Madison; from 'Parties' (1792)