"The idea behind the estate tax is to prevent the very wealthy among us from accumulating vast fortunes that they can pass along to the next generation," said Patrick Lester, director of Federal Fiscal Policy with the progressive think tank -- OMB Watch. "The poster child for the estate tax is Paris Hilton -- the celebrity and hotel heiress. That's who this is targeted at, not ordinary Americans."
NOTE THE OBSESSION WITH PARIS HILTON.
The logic is to punish everyone else in order to get at Paris Hilton.
Fur shur I could use the money, and there are several large foundations out there that need to be distributed to the heirs ~ meaning me!
If anything Paris is the poster child for what's wrong with our inheritance laws.
Folks with taxable estates should just begin marrying their children and grandchildren. The trend is toward other than normal marriage. Is there some test of sexual contact that validates a new marriage? It seems to me the argument has become about fairness and the ability to marry those one loves. Surely marrying one’s progeny conforms to the new normal. Once an old fart is finished marrying and divorcing his children and grandchildren, the distribution of assets would have taken place through the dissolution of marriages and the government will have been denied its last bite of the apple.
Even Rose Kennedy, who spend the last ten years of her life in Massachusetts, stayed a Florida resident to evade state taxes.
So don't tell me that a small businessman or farmer who worked all of his life for a few million dollars should have the fillings ripped out of his corpse when the bigwigs on the left hide their fortunes from the tax.
This is the federal mob we are talking about.
Oh, your mom just died? **** you, pay me.
The death tax is tyrannical and just palin evil. I cannot believe that it exists in The USA. Sad, sad, sad. Our founding fathers would be disgusted.
Lets shine some light here.
1) Very few pay the estate tax. They manage around it with charitable gifts they still control and trusts.
2) Eliminating the estate tax does not eliminate tax, it merely changes when and how it is paid. If property does not get a “stepped up basis” in the estate, it retains the purchase cost and there is gain when the inherited items are sold.
3) I may be one of the few here but I do fear concentration of power and wealth. Unfortunately the estate tax does not prevent this..................................
The inheritance tax needs to be cut to 10% with a 10 million dollar exemption (currently 35% with a 5 million exempt and 55% and 1 million if we go over the fiscal cliff).
If we go back to 55% and 1 million, what the rich people do is set up a charitable foundation which inherits the money (no tax because it is charity) with the board members all family who get paid free travel when on foundation business (it is like taxpayers paying for congressional junkets), and paid health care, a nice salary (just like United Way), free car, etc.
This is why so many ‘family’ farms have been incorporated. In this region, farming wheat takes several sections (640 acres/section—a square mile). Add in the cost of the equipment to till, plant, and harvest, and the equipment alone is over a million. Try to pay the death tax out of the thin margins of profit, and you end up selling the farm (enough of it to keep it economically viable) to inherit it.
In Louisiana, you can’t die without a lawyer. At death, a decedent’s bank account is frozen until a succession is done.
All private property (land) should actually be owned by the state and you should rent, not own, this land. This is the precept that the Marxism left operates under. They hate the fact that wealth can be passed down to heirs instead of going to The State. The key thing here is to create a utopia in which the worker bees are so busy having to scratch out a living (serfs) that they don’t have the time or energy to protest the corrupt government. Through taxation and inflation they will grind us down into virtual slaves and have income equality. While the 47% (plus the usual idiots) will cheer this on.
The left loves to take farmers’ land.
Which is why it will never go away.
A confiscatory inheritance tax is also Plank #3 of the Communist Manifesto, so there's that as well.
|
I was thinking about this today-
If Congress was able to simply “exempt themselves” from the new Healthcare laws with barely a peep from the MSM, couldn’t they do the same thing with THIS tax and many others?
Perhaps they already have. It would not surprise me to find they are exempt from all taxes, or have special loopholes for their personal situations.
There is no acceptable reason for a death tax, indeed, I was insulted when I heard some lame academic say we don’t want a lot of wealth created and passed along to future generations...
Says who....this clown doesn’t speak for me or millions of other Americans who would be proud to make enough in their life times so that their future children and grand children don’t have to work 40-60 hours a week for 40 years......let them enjoy life, not work....turn them loose to dream and get us to where we should be in science and technology.....
Why are we still driving cars that run on tires and gas....we should be driving hover craft run on renewables....
I am and will always be against the government STEALING money from us when we die....
NO DEATH TAXES....EVER
I saw that video....what could he have against Paris Hilton....looks like she’s worth every cent
Hey buddy, it will not just effect those you choose....and just who do you think you are to choose....sounds like wealth envy to me....
A key element in the socialists' wealth redistribution scheming.
The smart rich don’t pay these taxes. Blind trusts and other instruments keep that from happening. This is all about the Democrap party’s Communist goal and one of them is attacking the rich out of petty and childish jealousy.