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Obama's Opressive Tax Policy Pushing Some to Consider Suicide
Cato Institue ^ | 4/14/10 | Daniel J. Mitchell

Posted on 07/16/2010 9:09:51 AM PDT by Arcy

"...taxpayers don’t want the IRS to confiscate huge portions of what has been saved and invested over lifetimes of hard work.

You don’t know whether to commit suicide or just go on living and working,” says Eugene Sukup, an outspoken critic of the estate tax and the founder of Sukup Manufacturing, a maker of grain bins that employs 450 people in Sheffield, Iowa. Born in Nebraska during the Dust Bowl, the 81-year-old Mr. Sukup is a National Guard veteran and high school graduate who founded his firm, which now owns more than 70 patents, with $15,000 in 1963. He says his estate taxes, which would be zero this year, could be more that $15 million if he were to die next year. …Estate planners and doctors caution against making life-and-death decisions based on money. Yet many people ignore that advice. Robert Teague, a pulmonologist who ran a chronic ventilator facility at a Houston hospital for two decades, found that money regularly figured in end-of-life decisions. “In about 10% of the cases I handled at any one time, financial considerations came into play,” he says. In 2009, more than a few dying people struggled to live into 2010 in hopes of preserving assets for their heirs. Clara Laub, a widow who helped her husband build a Fresno, Calif., grape farm from 20 acres into more than 900 acres worth several million dollars, was diagnosed with advanced cancer in October, 2009. Her daughter Debbie Jacobsen, who helps run the farm, says her mother struggled to live past December and died on New Year’s morning: “She made my son promise to tell her the date and time every day, even if we wouldn’t,” Mrs. Jacobsen says. …Mr. Aucutt, who has practiced estate-tax law for 35 years, expects to see “truly gruesome” cases toward the end of the year, given the huge difference between 2010 and 2011 rates.

The obvious question, of course, is whether politicians will allow the tax to be reinstated. The answer is almost certainly yes, but it’s also going to be interesting to see if they try to impose the tax retroactively on people who died this year.


TOPICS: Government; Health/Medicine; Politics; Society
KEYWORDS: assets; inheritance; obama; tax
Obama's Opressive Tax Policy is Pushing Some to Consider Suicide!!
1 posted on 07/16/2010 9:09:54 AM PDT by Arcy
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To: Arcy

Democrat: The party of death.


2 posted on 07/16/2010 9:12:54 AM PDT by grobdriver (Proud Member, Party Of No! No Socialism - No Fascism - Nobama - No Way!)
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To: Arcy

suicide? wouldn’t it be easier to just collect welfare and watch Oprah?


3 posted on 07/16/2010 9:13:18 AM PDT by MNDude (Ask the Native American's how their "Open Borders" policy worked out for them.)
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To: Arcy

“The obvious question, of course, is whether politicians will allow the tax to be reinstated. The answer is almost certainly yes, but it’s also going to be interesting to see if they try to impose the tax retroactively on people who died this year.”

Can’t think of an serving POS in DC that gives a shit about us or what happens to us...if they did, the ones screwing us would be getting attacked by those who care...and I don’t see anyone with their hair on fire. Do YOU?

Dump these chumps.


4 posted on 07/16/2010 9:13:24 AM PDT by jessduntno (A second Great Depression is the path to power. Stop Federal Usurpation.)
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To: Arcy
He says his estate taxes, which would be zero this year, could be more that $15 million if he were to die next year. …Estate planners and doctors caution against making life-and-death decisions based on money.

That a lot of reasons to not take the estate planners/doctors advice.

5 posted on 07/16/2010 9:14:01 AM PDT by MAexile (Bats left, votes right)
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To: Arcy

Make taxes retroactive...............it’s happened before. Given the Steinbrenner estate I think we can count on it being made effective for 2010.


6 posted on 07/16/2010 9:14:09 AM PDT by Sunshine Sister
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To: Arcy

I considered strapping a “Never lived under Communism” sign to myself and taking a can of gasoline to a busy street corner back between 11/08 and 1/09.

I’d still do it if I thought it would make a useful difference to Lady Liberty.


7 posted on 07/16/2010 9:14:53 AM PDT by RingerSIX
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To: Arcy

Yet, under Bush with four years of GOP control of the House and Senate they never made these cuts permanent.


8 posted on 07/16/2010 9:15:06 AM PDT by raybbr (Someone who invades another country is NOT an immigrant - illegal or otherwise.)
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To: Arcy
but it’s also going to be interesting to see if they try to impose the tax retroactively on people who died this year.

They'll even dig you up to pull out your gold fillings and steal your wedding ring if they get half a chance.

9 posted on 07/16/2010 9:18:49 AM PDT by KarlInOhio (Gun control was originally to protect Klansmen from their victims. The basic reason hasn't changed.)
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To: RingerSIX

This is part of Obama’s health care plan; it leaves fewer people to serve and take benefits from others.

His economic plan is to destroy the economy in order to stop giving aliens the reason to cross borders into the U.S. It is working well.


10 posted on 07/16/2010 9:20:30 AM PDT by Loud Mime (Argue from the Constitution: Initialpoints.net)
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To: Arcy

The kenyan has no problem with suicide by old people. Living long enough to “benefit” from Obamacare will put an end to you anyway. May as well try and help younger family members live as good a life as allowed by these Marxist SOB’s!


11 posted on 07/16/2010 9:58:32 AM PDT by albie
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To: Arcy

Just go on living and working, Mr. Sukup.


12 posted on 07/16/2010 10:00:25 AM PDT by Persevero (Homeschooling for Excellence since 1992)
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To: Arcy
My kids keep sending me these articles. Hmmmmmm.

/johnny

13 posted on 07/16/2010 10:00:25 AM PDT by JRandomFreeper (Gone Galt)
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To: Arcy

Instead of giving up and dying before their time, I wish they and those who would benefit from their estates would use resources to fight against Obama, the Democrats and the RINOs who never made the tax reduction permanent.


14 posted on 07/16/2010 10:00:28 AM PDT by texteacher
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To: raybbr
Did you forget about Jumpin’ Jim? “Jim Jeffords became a household name in the spring of 2001, when, on May 24, Jeffords bolted the Republican Party and caused the GOP to lose control of the Senate”. So Bush did not have control of both houses for four years, only for a very few months. And don't forget the RINOs who have been posturing as Republicans for years but vote otherwise.
15 posted on 07/29/2010 4:41:41 PM PDT by pepperdog (As Israel goes, so goes America!)
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