bttt...
Doubt it.
The death tax doesn't affect the limousine liberals/RINOs (who can protect their fortunes in various tax shelter schemes), so why bother? In fact, they'll do everything within their power to keep middle and upper-middle income families from progressing into their financial territory.
This is one of the IRS's most painful taxes, as it hits families at the worst possible time, when they are dealing with the death of a loved one.
Tell me about it. We paid $350K this year in estate taxes. Our kids could have used that money for college tuition and to pay down payments on homes. But no, the gov. took it. Makes me SICK!
An estate tax return for a U.S. citizen or resident needs to be filed only if the gross estate exceeds the applicable exclusion amount, listed below.
| Applicable Exclusion Amounts | |
|---|---|
| Year |
Exclusion Amount |
| 2003 |
$1,000,000 |
| 2004 and 2005 |
$1,500,000 |
| 2006, 2007, and 2008 |
$2,000,000 |
| 2009 |
$3,500,000 |
Fixed it...
Patty Murray has, in the past, been AGAINST the Estate Tax.....we all need to contact our Reps on this....plus SIGN the petitions for the Repeal of the Estate Tax in Washington State (I'm working on that campaign.)
Instead, the general income tax cut should be made permanent -- after being altered. Instead of a rate cut (which favors Al Franken, Babs Striesand, George Soros, and other rich POSes), it should be a very large increase in the value of the personal exemption, to, say, $20,000 or more. Then everyone still gets a tax cut, and the richest still get more in dollars, but the benefit of the tax cut falls disproportionately on those who make the least. And guarantees a conservative majority in Congress and the White House for the foreseeable.
Since (according to Rush), the richest pay 94 per cent of all income taxes, receipts would fall a mere 6 per cent or so -- not taking into account the Laffer Curve / the stimulation of the economy which would result.
And longer term, retail excise taxes on gasoline should be eliminated, replaced with a $10 (or more) per barrel tax on petroleum imports AND exports. This would build in a permanent cushion favoring domestic production and discouraging exporting our own reserves.
And while they're writing the bill, a rider to build a double fence the length of our border with Mexico should be included. :')
I have been waiting for them to get rid of this tax since Bush took office . . . they better darn well get rid of it. If not they can change that big ole' R after their names to a big fat D.
One hammer strike on the stake from me!
ping
In my limited research, I have yet to find a {logical, reasonable} explanation for the "death tax"