The "death tax" doesn't only apply to money saved or invested. It applies to the house your parents left you too!

 

Yeah, and thank the lord for the Generation-Skipping Transfer Tax Exemption: $2,000,000. Alls you have to do is plan properly and you can avoid massive taxes Moose. You need a good tax attorney. Only suckers pay the inheritance tax.

 

What on earth are you talking about......There is no estate tax unless you pass down 5 million or more. In all sincerity, you should get you facts straight before you talk about taxes you don't pay.

An amendment put up by Democratic and Republican senators to reduce the so-called "death tax" passed 51-48 Thursday evening -The amendment would reduce the estate tax rate to 35 percent and increase the exemption to $5 million. Democratic Sens. Blanche Lincoln, Ark., and Ben Nelson, Neb., and Republican Sens. Jon Kyl of Arizona and Chuck Grassley of Iowa were among those backing the amendment. -April '09

 

5 million you consider "stashed away" And after that you pay the utterly outrageous level of 35% on to something like 10 million. Those damn Democrats are robbing the poor rich people blind. Not sure if you consider yourself middle class, but I find it hard to believe that so many middle class "conservatives" have a problem with the "death tax" as they have labeled it. It helps to keep some of the burden off of you as a person who works for a living. The reason your leadership is so against it is that they personally are the ones most likely to have to pay it!

-Here's an example that may (or may not) make some sense to y'all: So if the old lady that owns 67% of Seagrams Corp dies and leaves 150 Million to her sons and daughters doesn't pay any tax......who do you think is going to be left holding the empty bag to pay for this operation? Worse yet, who's going to be left holding the even emptier bag when that 150 Million becomes 400 Million, and is left to the next generation. The law makes sense to 98% of the working public, whether you realize it or not. Most people don't have 5 Million or more to leave their kids.

The Estate Tax only affects approximately two percent of the population. Estate taxes are not owed for total values under $2,000,000 for deaths occurring in 2008. The rate is now 5 million under Obama as of April '09. -No thanks to Obama himself, I'd add.

 

You know, Funride, if you'd take the time to ask me if I knew it had gone up to 5 million this Thursday you could have saved yourself alot of, "quote and comments". If that passes all the way through that would be a good thing. I was basing it on the previous $250,000 which is a pretty low ceiling when you consider the average house is still worth more than this in my area. As to the rich vs. middle class vs. poor stuff, I don't know where a combined income of about $100K gets me. I know it doesn't get you too far in Massachusetts. What gets me sick is how many times money gets taxed on the original earnings or wages. When does it stop? Between Cap and Trade and the "tax everything they can mentality", I'd better watch where I pass gas or the lawmakers will start taxing me.

 

So, she's gonna run as a democrat now in 2012?