Although the estate tax is taking a hiatus for several years what is your view on it coming back in 2011 and do you feel it is fair or unfair to small, business owners?
2006-10-01 08:13:48 · 8 answers · asked by Zack 3 in Society & Culture ➔ Royalty
The estate tax has no relation or impact upon small business owners or businesses in general as it is a tax upon the personal estate of a decedent. Some argue that estate tax is unfair because it likely results in "double taxation" which means that the money being passed on was in all probability taxed as it was earned and then will be taxed a second time at death. However, this is a tax that does not harm anyone as estates less $1.5 million (2005) and $2 million are exempt from this tax. In the U.S. we should try to discourage the perpetuation of generational wealth and encourage people to make their own money. In addition, much of the tax can be avoided by giving to charity.
2006-10-02 05:24:53 · answer #1 · answered by Tara P 5 · 0⤊ 1⤋
The death tax or Paris Hilton tax is safe to say will not effect any of us here. I think we need this tax to counter all the lost taxes going to the Cayman island from US corporations that moved to China and still sell crap here. Small businesses will not be affected by it but the Walton kids from Wal-Mart would love to see it go. Their is only 1or 2 cases where a family lost the farm because of an inheritance.
2006-10-01 08:21:26 · answer #2 · answered by Anonymous · 2⤊ 0⤋
It won't affect small business owners at all, and very few family farms, if any. Please remember that Wal Mart could be considered a family business. Its a big money tax break that will have to be made up for by the lower 97% of the people in this country. I really don't know why this sounds reasonable at all considering the war we have to pay for.
2006-10-01 08:25:54 · answer #3 · answered by justa 7 · 1⤊ 0⤋
It only affects 2 or 3 super rich people in the whole country, yet represents trillions of dollars.
It has NO effect on small business.
2006-10-01 08:19:10 · answer #4 · answered by Anonymous · 2⤊ 0⤋
It's unfair to keep taxing a person's property after they're dead. they has to pay tax on it for all the years they lived.
2006-10-01 08:29:52 · answer #5 · answered by Phillip m 2 · 0⤊ 0⤋
dude, if you got more than six-hundred grand at the hour of your death you can afford to pay a little tax. besides, the tax law allows you to move it before you die .....man up you little girl!!!turn of the tv and the computer and start reading the business section of any newspaper
2006-10-01 17:12:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Uncle Sam is always gonna want to tax you for something
2006-10-01 08:22:33 · answer #7 · answered by ? 7 · 0⤊ 1⤋
Tax in any form is unfair
2006-10-01 08:16:57 · answer #8 · answered by gangico 3 · 1⤊ 2⤋