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While reading up on inheritance taxes and estate taxes.....I just discovered that Obama reinstated inheritance tax and made it retroactive to 2010. I thought he promised he was not going to raise taxes. Our loved ones paid taxes on their estates at least once already. Why should we have to pay taxes on our inheritance again. Apparently...the percentage is going to go up again this year....all to continue the funding of things like the unsucessful jobs act, continued unemployment benefit extensions.....calling it a tax relief act.....Kind of an oxymoron....when he is taxing dead peoples estates....and so much for tax relief....when they are taking money out of the pockets of living constituants...
That puts us older folks between a rock and a hard place. We want our heirs to get what we have worked and skimped to accumulate not the government, but we can't afford to spend down our savings for fear of outliving our resources.
Well he didn't SAY he was going to raise taxes and no one asked him.
They are all busy with the latest amnesty, Holder contempt and Obamacare.
All eyes are in the other court. Act quick while you can. The MSM is on his side as well so it won't make headlines all over the US.
Anyway you're dead so you can't complain and your heirs..well it wasn't their money to begin with (talking points here).
Well since a large portion of the seed money for this estate was in rental houses which my heir worked on without compensation as a teenager, one might say that he had a stake in it.
Well since a large portion of the seed money for this estate was in rental houses which my heir worked on without compensation as a teenager, one might say that he had a stake in it.
I'm on your side. What is left to heirs has already been taxed so why are they taxing it yet again ?
I can see gains from sales and that's about it.
Well he didn't SAY he was going to raise taxes and no one asked him.
They are all busy with the latest amnesty, Holder contempt and Obamacare.
All eyes are in the other court. Act quick while you can. The MSM is on his side as well so it won't make headlines all over the US.
Anyway you're dead so you can't complain and your heirs..well it wasn't their money to begin with (talking points here).
But.....in alot of cases....our parents....grandparents....worked hard...saved hard...so they could give their children and grandchildren a leg up....maybe a home or a college education they might not get otherwise without going into extreme debt. I know my Dad would be rolling over in his grave if he thought 55 percent of his estate that he already paid taxes on was going to be scrapped of the top by greedy goverment run amuck
I believe that the tax cuts in the Tax Act of 2001 would automatically sunset in 2010; however, Congress created a new tax bill in 2010 that capped the rate at 35% and exempted up to $5 million of property from the estate tax.
Also, neither the inheritance tax nor the estate tax was repealed in 2001; so, President Obama could never "reinstate" it, even if he were constitutionally allowed to do so.
While reading up on inheritance taxes and estate taxes.....I just discovered that Obama reinstated inheritance tax and made it retroactive to 2010. I thought he promised he was not going to raise taxes. Our loved ones paid taxes on their estates at least once already. Why should we have to pay taxes on our inheritance again. Apparently...the percentage is going to go up again this year....all to continue the funding of things like the unsucessful jobs act, continued unemployment benefit extensions.....calling it a tax relief act.....Kind of an oxymoron....when he is taxing dead peoples estates....and so much for tax relief....when they are taking money out of the pockets of living constituants...
I don't have any loved ones who own more than 5 million bucks, so this doesn't affect me.
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