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The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.
Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses
excerpt:
WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.
The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.
Inheritance taxes effect everyone....Dumbass.
Hardly.A swing and a miss.For no reason other than mindless, bigoted partisanship.The amount an individual can leave to heirs without having to pay federal estate tax—will be $5.43 million in 2015, up from $5.34 million for 2014
IRS Announces 2015 Estate And Gift Tax Limits - Forbes
If it passes in the Senate I'm sure there is a veto pen waiting.
The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.
Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses
excerpt:
WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.
The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.
Inheritance taxes effect everyone....Dumbass.
In 2008, for instance, the estate tax collected about $29 billion from fewer than 20,000 estates—the wealthiest 1% of the 2.5 million people who died that year.
The Estate Tax Is Fair and We Need the Revenue - WSJ
The opening line:
Is it fair for Paris Hilton to inherit her great-grandfather Conrad's fortune without paying any tax on it?
The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.
Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses
excerpt:
WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.
The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.
Inheritance taxes effect everyone....Dumbass.
In 2008, for instance, the estate tax collected about $29 billion from fewer than 20,000 estates—the wealthiest 1% of the 2.5 million people who died that year.
The Estate Tax Is Fair and We Need the Revenue - WSJ
No kidding?
Since the upper crust owns most of the money and property....that makes sense.
Tennessee can take 50% even if you aren't in the 1% however.
The government didn't do anything to earn it, either.An inheritance tax is not a tax on the dead, it's a tax on the income of the living who get the inheritance. If it's okay to tax a waiter's tips, or a senior's social security,
then it should be okay to tax a massive windfall of income for someone who didn't do anything to earn it.
The opening line:
Is it fair for Paris Hilton to inherit her great-grandfather Conrad's fortune without paying any tax on it?
Fair? I don't want the government deciding what is "fair".
Okay, here's the choice: Paris Hilton gets her great-grandfather's money or...the government gets it.
As much as I don't like her, I am going to go with Paris Hilton getting the money.
Just because Paris does not "deserve" it, that does not mean the government does. Again, I don't want the government deciding who "deserves" something. That is total bullshit.
So I would go with what the person who earned that money would want. If he wanted the government to have it, he would have given it to the government. He obviously wanted his kin to get it.
Ban all tax expenditures and we will have a humongous revenue surplus. Then we can lower everyone's tax rates and still pay down the debt.The opening line:
Is it fair for Paris Hilton to inherit her great-grandfather Conrad's fortune without paying any tax on it?
Fair? I don't want the government deciding what is "fair".
Okay, here's the choice: Paris Hilton gets her great-grandfather's money or...the government gets it.
As much as I don't like her, I am going to go with Paris Hilton getting the money.
Just because Paris does not "deserve" it, that does not mean the government does. Again, I don't want the government deciding who "deserves" something. That is total bullshit.
So I would go with what the person who earned that money would want. If he wanted the government to have it, he would have given it to the government. He obviously wanted his kin to get it.
"So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Some argue the tax is too small to be meaningful, so why bother? But the amount raised is not chump change. In 2008, the tax contributed less than 1% of federal revenue, but it was enough to pay for about three-quarters of the total expenditures of the Department of Homeland Security that year."
Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Nothing more, nothing less.
The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.(REPUBLICANS)
And no reason to keep it other than mindless, bigoted partisanship.It's nothing new that for sure.Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Nothing more, nothing less.
Well, unfortunately the Republican party has become very hypocritical about this kind of thing. If Obama proposes something which costs money, they stonewall it on the excuse that it is not paid for. They claim they do this in the name of fiscal responsibility.I wonder how this tax elimination will be paid for.
I wonder how this tax elimination will be paid for.
Schlep is an illiterate moron. He thinks that what he thinks is magically translated via his disjointed, ungrammatical and senseless gruntings. If you don't understand his idiocy, it means you're a racist.I have absolutely no problem with this.... why is the government entitled to a cut of what I have earned and chose to leave to my heirs?
You're not one of them
4,700 total in 2013
Uhm.. what? Not one of who?
