The Dems are talking about repealing estate tax reform. Should they be allowed to tax you for dying??

Question

A couple of you say it is a tax on inheriting. I don't disagree with that. But, it takes a death to inherit. Hence, the government is making death a taxable event.

Based on the posts it appears that the conservatives are largegy the "haves" and the liberals are the "wannabes".

Answer 1

there is only 2 things certain in life death and taxes and the libs want both at the same time. why should i pay taxes when i die when i paid taxes on that same money the day i earned it oh yeah that's right it wouldn't benefit the urban outdoors men that need my taxes to buy cheap wine and needles

Answer 2

Estate taxes are not paid by the deceased. They are paid by those who receive the proceeds of the estate. The limit on the amount of assets that may be inherited before the estate tax kicks in are pretty high so most working class people are not likely to incur any estate tax.

Those wealthy enough to be concerned about the estate tax can purchase sufficient life insurance to cover the taxes. So don't feel too sorry for the rich.

However if you feel that because of some unique talent and/or good luck of one individual that a family should be allowed to accumulate unlimited wealth and live off it for generation after generation in perpetuity then you should be opposed to the estate tax. Also if you are concerned that the growing gap between the wealthiest Americans and the average American is not large enough for your liking then you should be opposed to the estate tax.

And if you hate the estate tax you would have loved Feudalism.

Answer 3

I am a democrat, and no they should not repeal a tax on so-called "unearned" income. The money has already been taxed because it had to earned by somebody at some point. And people just assume that someone who gains an inheritance is going to go out and blow it on cocaine and fast cars. That is a nice stereotype for TV shows but there is a small percentage of people that do that. For a couple to work their entire lives, pay their taxes, and save their money so that they can leave their children something, then get robbed again by the gov upon their death is bull.

You can tax someone while they make the nestegg, then tax it again when they die. But you can't try O.J. twice for a murder conviction, what's wrong with this picture?

Answer 4

Thinkin' McCain raised the priority final month, yet the two way it relatively is relatively hogwash. decrease expenses will enhance call for which will force cost will enhance leaving the buyer paying as plenty or greater as only before repealing the tax. Rhetorically, would repealing the tax in any way avert gas agencies from increasing the fee to advance even greater advantageous earnings? Many Dems are damaging to such Bushian financial suggestions, i.e. provide them bread and circuses. How do i know? because of the fact i'm one.

Answer 5

Since I don't have a $2 million dollar estate, I won't be taxed. However, if I do get wealthy enough to have an estate tax, then that is fine by me, because I'll be dead. My heirs will get plenty of money, my government will get to pass services and goods to those living, and those making less than my heirs won't have to pay as much in taxes.

Only greedy pinhead conservative retards have a problem with estate taxes.

Answer 6

Well estate taxes apply to only a small percentage of the very wealthy, since those with estates under a certain size can shelter it from any taxation if they simply set up their wills properly.

And I tend to agree with the maxim "leave your kids enough that they'll never fail to follow their dreams for lack of money, but not enough that they'll fail to accomplish anything because of an excess of money."

So I don't have a problem with estate taxes.

Answer 7

Ok, I pay taxes on the money as I earn it. I pay taxes when I spend it and I pay personal property tax to keep what I buy. I pay taxes for saving it. And I am supposed to feel bad for some rich little shitheads who inherit more than two million dollars? Live in the real world awhile. Haves and wannabes? Youa re an arrogant @*** aren't you?

Answer 8

As noted above, you're not familiar with estate matters. Many folks get around that but I too think that there shouldn't be a tax on estates. One works a lifetime to amass wealth. Why should the gov tax it more given that it has probably already been taxed several times over?

Get real folks 2MM estate is not all that large anymore. Given real estate, stocks, other investments, many people of upper-middle class standing could be open to that assuming they didn't structure their estate properly.

Answer 9

Is that you Paris Hilton?

Upset that all that money can't get you out of Jail but fret not, it will still be enough for a new Mercedes.


Okay, so let me get this straight. Hand outs from a Government that I pay 33% of my salary to are BAD, but Hand outs from dead parents to trust fund babies who did nothing to earn that money is GOOD?


Wow.......Talk about double talk. You cons preach about hard work and self responsibility, but the Ultra wealthy who proposed this tax wanted those same things for the people they are taxing.....do you not get it yet, they wanted an easy out to force their families to keep working and keep being productive parts of society.



EDIT: It is not a death tax. It is a tax on the transfer of money from one party to the next. This is called an EVERDAY fact of life in this country. Try living in reality.

Answer 10

The so called "death tax" applies to non agricultural estates valuing more than $2 million. Only the most extremely wealthy pay any of this tax, and at that it is a fair and reasonable amount.

But no, it makes sense that if your parents were fortunate enough to leave with a considerable inheritance, you should be exempt from any taxes yourself.

The tax is not on the dead, it is on the heirs. If you have no heirs or charities, the state disposes of your property.

Answer 11

Not sure I have real strong feelings about what should be taxed and what shouldnt....I do know that no matter what it takes a certain amount of money in the treasury if we want things likes, roads, a military, etc.......the other thing I know is that you CANNOT cuts taxes and increase spending. Wish that Bush guy I voted for would catch on.
Lifelong republican