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The estate tax disappeared for 2010, in one of the final steps of President George W. Bush’s 10-year tax-cut measure. But next year, when the Bush tax cuts expire, the estate tax springs back to life — at its pre-2001 level of 55%.
Wednesday’s amendment to repeal the estate tax was offered by Sen. Jim DeMint (R., S.C.), in the midst of debate on a bill to extend jobless benefits. The amendment failed by a wide margin of 39-59. The vote was almost entirely on party lines, although two Democrats – Sens. Blanche Lincoln of Arkansas and Ben Nelson of Nebraska – joined Republicans in voting “yes.”
I am against the inheritence/death/estate tax. People should be able to leave whatever they have to whomever they want. There is no reason the government should have any right to the money. The dead person already paid tax on it when they earned it. Just doesn't seem right to me.
I am against the inheritence/death/estate tax. People should be able to leave whatever they have to whomever they want. There is no reason the government should have any right to the money. The dead person already paid tax on it when they earned it. Just doesn't seem right to me.
Its not right ,it is just another example of democrats taking money out of the economy and using it to buy votes.
This is a total outrage. As mentioned above it has already been taxed at least once.
If my wife and I sacrifice and save all our lives to ensure having enough money to provide for an undetermined amount of time in retirement then why should the government get a greater share of the sacrifices my wife and I made than our own children?
This type of policy discourages one from saving for retirement and instead promotes spending your money and leaving the problems of retirement to the government.
Take from the hard working and give to the lazy asses. Time tested and mother approved Marxist policies.
You nailed it. Surely some of those estates belong to Democrats. Wonder how they like it that half of their already-taxed estates is going to the feds, thanks to those they voted into power.
The estate tax disappeared for 2010, in one of the final steps of President George W. Bush’s 10-year tax-cut measure. But next year, when the Bush tax cuts expire, the estate tax springs back to life — at its pre-2001 level of 55%.
Wednesday’s amendment to repeal the estate tax was offered by Sen. Jim DeMint (R., S.C.), in the midst of debate on a bill to extend jobless benefits. The amendment failed by a wide margin of 39-59. The vote was almost entirely on party lines, although two Democrats – Sens. Blanche Lincoln of Arkansas and Ben Nelson of Nebraska – joined Republicans in voting “yes.”
Death taxes only contribute approximately 1% of U.S. taxes paid.
Death taxes benefit estate tax lawyers and planners, life insurance companies, and large businesses (with which family owned business may compete).
They are trying to protect family farms. As Obama probably supports collective farms, it is not suprising.
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