Why should the estate tax be eliminated?

Answer 1

I have been saving all my life and i'll be damned if the liberal govment takes my money when I die to give it to a bunch of dirty mexicans so they can come over here and steal my grandkids jobs!!!!!!!!!!

Answer 2

In my opinion the estate tax should not be eliminated. It is the fairest tax the federal government now employs, because it is the most progressive. By this I mean that it does not tax the average income earner at all, and only applies to the uppermost fraction of the wealth of approximately 2% of the total population. In other words, of those who do end up paying the estate tax, only the portion of the estate above about two million dollars for a single person or four million for a couple is taxed. What could be more fair?

Many people, mostly wealthy Republicans, try to make the estate tax sound like it is dooming the small farm, which is not the case at all. The small farmer is being extinquished by many other forces of the economy, but not by the estate tax. The small farmer is too small to qualify to pay this tax. The small business is likewise little affected by the estate tax, since I repeat once again that only the wealthiest businesses would be effected, and then only the uppermost portion of the value would be taxed.

Don't forget either, that if the estate tax is eliminated, then another tax would be needed to replace the lost revenue. I doubt that the replacement tax would come from the pockets of the wealthiest taxpayers. No--the tax deficit would come from you and me--the average guy on the street who is paying more than his fair share already!

Answer 3

SAN FRANCISCO — President Bush, in pushing big tax cuts for America's wealthiest, is about to get an earful from an unlikely opponent, again. Bill Gates Sr. — father of the co-founder of Microsoft who is the USA's richest man — is fighting to keep Bush from killing the estate tax that hits the super-rich but also some small-business owners and farmers.
His son agrees with him, as do billionaires Warren Buffett, David Rockefeller Sr. and others.
Why? Gates, 78, says the wealthy should pay the tax because they owe a special debt. Their riches, he says, would not be possible without a strong society supporting capitalism.
"Most of the things that have generated the enormous advances in our economy are things that started on some campus or in some laboratory," Gates said in an exclusive interview last week. "And most of those are because the government financed it."

Answer 4

Because those assets have been taxed multiple times over already. Some, like real-estate are taxed yearly. Businesses pay corp. tax

Why should somebody who inherits already-taxed property pay even more tax on it.

Answer 5

It is a basic fact that no country has ever taxed its self to prosperity. The more money that we allow the American people to keep the more the economy will grow. Socialism has never worked.

Answer 6

Well...a person earns money to support his family...and he pays tax on his earnings. When he dies....the money is still intended to support his family...and the tax has already been paid. Yet he is taxed again.
That's why it's also called a "death tax" If the guy lived...he could still use the money in support of his family...but they tax him again for dying.

Answer 7

Stop listening to that lier Al Franken and get to work!!
Stupid Liberals!!