"Yessir!"
Yà can’t take it with ya.
Obama wants to make sure of that.
What a crook. Guess he needs all that tax money to pay for his amnesty and free community college Santa Claus programs.
Obama knows these have zero chance of passing. What he’s trying to do is to goad the GOP into doing something that the MSM can portray as being evil.
I don’t think I can watch tomorrow night. Unless I stop at the store today for a bottle of wine.
"Yessir!"
Obviuosly his proposals ain’t going nowhere, so I wonder what his goal is in doing this. I guess it must be to put the repubs on the defensive?
The idea is to bypass the exemption.
When the estate is valued, full market value is used to check against the 5.3 million exemption. Anything over is taxed at 40%.
So, passing on the original value is the same as destroying the estate exemption.
Obama promised us that just the Romney rich would pay for Obamacare.
I see zero chance of this passing.
Any Congress Critter voting for this, if not in a safe seat, is a “dead man walking”. But even then...
Any time I hear him say tax the rich, my wallet screams, and I’m sure as hell not rich!
” Under the Obama plan, you have a capital gain of $110,000 (sales price of $120,000 less original basis of $10,000). “
—
There would still be no tax.
.
BTTT
A stubborn remnant of the American middle class remains after all his work.
This tax on their employers and estates will, he hopes, finish them off.
The individual exemption for the estate tax is something like 5 million dollars. Unless that changes, I don’t see what this article is about.
Can't make this stuff up can we, kids?
anything he can dream up to wreak further damage on USA or our economy, morale, morals, defenses, allies......or eliminate any more American jobs.....
you can count on it!
The death tax is pretty much a ruse, because anyone with enough money to qualify is smart enough to put it in trust and otherwise make it unavailable for taxation. The biggest exceptions to this are family farms, which unless a family incorporates, literally, to protect their assets, they will lose the farm.
“In 2011, estate and gift taxes comprised 0.3% of the taxes collected by the federal government.”
Taxes are not fair and never have been They are set by the person with the biggest sword and army and are paid by the people with smaller ones. The modern concepts of taxes being ‘fair’ are just pixie dust and unicorns. Get used to it.
I have FAR better, more important things to do than watch obama READ yet another speech that’s been written FOR him.
Like watch the clothes dry in the dryer.
Why not just let the poor ransack rich people’s houses, farms and businesses. Worked for Zimbabwe.