Posted on 11/17/2012 3:16:39 PM PST by george76
the estate tax -- also known as the "death tax."... set to soar at the beginning of 2013
...
The estate tax dates back to 1916 when then-President Woodrow Wilson imposed the tax of 1 to 10 percent on the wealthy because World War I reduced federal government revenues. Under Franklin Delano Roosevelt, the tax rose to 77 percent, as Congress tried to prevent wealth from becoming concentrated among a few powerful and super-rich families.
Ironically, many nations historically more concerned with class and wealth -- namely Russia and China -- have since abandoned their estate taxes.
(Excerpt) Read more at foxnews.com ...
Yes, a site I found online to explain what I wanted to say, but am too stupid to do so.
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