Posted on 02/17/2011 7:49:04 AM PST by jmaroneps37
While new federal tax policy has eased the bite Uncle Sam takes from the estates of people who will pass on during this year and next, a number of states are ready to claim a large and growing share of what will be left.
The new federal rule takes 35% in taxes from personal estates of $5 million and up ($ 10 million for married couples). This was not the repeal of the old 55% rate that kicked in at $1 million we conservatives wanted, but it was a good start that would affect less than 1% of Americans.
States rushing in with hands out
The money not being claimed by the federal government will be grabbed up by many states intent on leaving not a single dime untaxed. Fifteen states and Washington D.C. claim estates taxes, some at fairly high rates. Not surprisingly all of them are or were controlled by Democrats when their estate tax regulations were passed. There is nothing kinder and gentler about the estate tax rates these states enforce.
At the most rabid end of the scale of Dracula State taxes, Ohio takes 7% of anything over $338,333. Worse still, Rhode Island rips off 16% of estates valued at $850,000!
Most of this bunch of vultures exempt just the first $1 million and take 16%, but Minnesota grabs 41% of $1 million estates!
Every last dime
Both Maryland and New Jersey, two especially Blue states, are the worst places to die if you plan to leave some of your hard earned money to your family or friends instead to a greedy state government.
New Jersey takes 16% of $675,000 and over estates and Maryland takes 16% of $1 million estates, both take a second bit of the pie because they enforce inheritance taxes.....
(Excerpt) Read more at mail.google.com ...
Buzzards and jackals are a better analogy than Dracula. They aren’t sucking the life out of a dead man’s estate, rather they are gorging themselves on the remains.
This makes me so angry. I don’t care how much money you have, you’ve already paid taxes to the hilt. Why should the Government get any more of it just because you died? Instead of looking for more ways to tax us they should be trying to give money back to us!
Oregon has to be at the top of the list or nearly so.
I don’t wants no Googie Mail.
Exactly what I was going to post.
Add to the idea that a lot yunguns today think vampires are cool.
Of course, you can get a good look at early democrat fascists by watching, “The Thirteenth Warrior” based on the novel, “Eaters of the Dead”, by Michael Crichton. Excellent novel, and the movie isn't too bad either although it's not as good as the novel. It is, however, an excellent look at the lifestyle and beliefs of early democrat party activists.
Regards
That's because they expect to BE the vampires. They learn different after they get bitten.
Anyone with that many assets subject to probate are incredibly dumb.
This is why family farms incorporate, and everybody else with money forms trusts. Properties, vehicles, investments, anything of substantial value all go into the family trust. Trustees are also signatories and co-owners of safety deposit boxes and bank accounts that would otherwise be sealed.
And the trusts contain a clear chain of authority for powers of atty, limited powers of atty, medical and living wills, and significant asset sales for $1.
Yeah, that logic escapes me too. I don't understand the infatuation and romanticizing of it.
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