Why would anyone (not naming names or pointing fingers) try to abolish or lower the estate tax at a time when the national debt is at an all time high??
2006-07-24 03:55:42 · 9 answers · asked by Anonymous in Politics & Government ➔ Politics
PEOPLE THAT INHERIT ESTATES WORTH LESS THAN $2 MILLION DO NOT HAVE TO PAY ANY TAXES ANYWAY. 99% OF THE POPULATION DOES NOT HAVE TO PAY THIS.
BUT THE 'LEAVE NO MILLIONAIRE BEHIND' PARTY (REPUBLICANS) WOULD LIKE TO GIVE ANOTHER HANDOUT TO THE SUPER RICH BY CUTTING THIS TAX.
2006-07-24 04:14:57 · answer #1 · answered by Anonymous · 0⤊ 2⤋
The government needs tax revenues so it can spend them. Where it gets those revenues is a matter of politics. People who are subject to estate taxes (which is only a very small percent of the population) are powerful enough to shift the tax burden to other people. The national debt is so high because the people they have shifted the burden to all live in the future....you and me in about 10 years or so.
2006-07-24 04:13:15 · answer #2 · answered by Brand X 6 · 0⤊ 0⤋
There shouldnt be an estate tax in the first place, it has already been taxed. If your worried about the national debt cut down on some of the stupid researchs going on... Like the one about the ant that can walk with pig hair in the place of a leg.. how stupid is that??
2006-07-24 04:05:16 · answer #3 · answered by Mom 5 · 0⤊ 0⤋
Your analyze is genuine with regard to the IRAs. Any pre-tax investments are taxable to you. different property isn't except any benefit between the date of lack of life and once you remove the valuables. If the valuables is decrease than 2 Million there'll be no property tax and there is by no skill any inheritance tax. If a house is in touch be particular to get an appraisal as close as you are able to to the date of lack of life as which will set up the inspiration in figuring out any tax that ought to correctly be due upon sale.
2016-12-10 14:39:33 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Because the money has already been taxed once!!!! they are double dipping. The only people opposed to it seem to be those not receiving a portion of an estate.
2006-07-24 03:58:19 · answer #5 · answered by Phil My Crack In 4 · 0⤊ 0⤋
because its an unfair tax. taxing goods that have already been taxed is unmoral, unethical, and should be illegal.
want national debt to come down? start with these prok barrel spending projects and the military spending. also foriegn aid would be nice and probably another dozen things to do away with. so in the mean time, leave my average joe american *** alone.
2006-07-24 03:59:41 · answer #6 · answered by mricon 2 · 0⤊ 0⤋
Polictics, if they get some thing changed they will look good. Then turn around and get it from some where else. We still have to pay one way or another. We got out of dept. then you know who got us back in. When some one has money, they just keep spending whether therer's or not. Then we have to pay for there mistakes. Pem
2006-07-24 04:08:53 · answer #7 · answered by Patricia M 4 · 0⤊ 0⤋
For the same reason that big oil conglomerates get tax breaks like crazy while giving their retired CEO a $4M retirement package.
The rich get richer...
2006-07-24 04:01:16 · answer #8 · answered by Pitchow! 7 · 0⤊ 0⤋
because its a tax on money thats already had tax paid on it for starters.
2006-07-24 03:59:12 · answer #9 · answered by sealss3006 4 · 0⤊ 0⤋