What is the point of the death tax?

Answer 1

In essence, it is really inheritance tax: a tax on the estate of the deceased person.

Death tax is a term used in the United States in reference to the estate tax by its opponents. The term comes from the fact that a death must occur before a tax on the value of the deceased individual's assets is assessed.

The term was popularized by a famous memorandum written by Republican pollster Frank Luntz. He recommended that the party use the term death tax when referring to the estate tax, writing that the term death tax "kindled voter resentment in a way that inheritance tax and estate tax do not".

The estate tax covers fewer than 2% of estates. In 2006, the tax is applicable to estates valued over $2,000,000 and the maximum rate is 46%, which is due to drop to 45% in 2007, where it will stay until 2010.

Answer 2

OHH, sorry, you will have to respin this question with the less Republican friendly phrase "estate tax". Which is what the death tax is. In fact up until just a few years ago when the Republicans bought the Senate and House, it was called what is always has been called, an estate tax. This is a tax on the remaining money your estate has not already paid taxes on. The Republicans re named it most recently the Death tax, because that sounds bad. Why would they tax us for dying? In all reality it is just anothe way that super rich republicans are trying to avoid paying the right amount of taxes for their super wealth. Don't let them fool you. Most common americans will never see this estate or death tax as they do not possess enough money for it to apply to them.

Answer 3

A modest attempt to give everyone a fighting chance. To avoid plutocracy--a nation run by very few very rich people who inherited their wealth and position from Mom and Dad.

And if you look closely at the details, you'll find 'death tax' to be a misleading label for estate taxes. Taxes are only levied on estates over a couple million. And there are many ways to shelter millions beyond that. Only the richest few pay any tax at all. Don't believe stories about family farms being put out by 'death taxes'. It isn't true.

The more you educate yourself the less likely you are to be Republican. This party really has to change. They're really hurting America with their lies.

Answer 4

The death tax is also referred to as the estate tax. This tax is only imposed on approximately 1% of the U.S. population, those with assets generally over $5 million U.S. When you are getting millions just because a relative died, what's the big deal? Break off a piece for your country and be proud! Anything else would make you greedy.

Answer 5

If you're not a millionaire, you don't get taxed.

The Estate Tax (death tax) was for estates worth over $650,000. That threshhold has been raised (I can't remember to what). You only pay tax on the amount that exceeds the threshhold. Only 5% of estates in this country qualify under the new guidelines.

It's a political issue not based in reality.

Answer 6

Originally established by the Northern States during the Civil War as a "temporay" tax in order to finance the war. Convenient isn't it that this "temporary" tax still exists?

Answer 7

Logically speaking, there is no point, except to prove that nothing is free including death. Now personally, I can't see why the gov. can't just let you die in peace, but they want every cent they can get. After all, they have to spend it on crap like new football stadiums when the old ones are perfectly fine...

Answer 8

for the government to take from the family

Answer 9

Confiscation of money by the government

Answer 10

The rich, and other's have chunked this one so full of holes it is meaningless.

The rich don't pay it, and most other's don't either!