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The estate tax is double taxation. Those that deny it need a remedial course in economics.
Those here that show disdain for financial success, are themselves unsuccessful. Quit yer bitchin!
Says the guy who is just parroting from the roof tops. Get an education so you dont have to work as a shill for the donor class. They laugh at working stiffs like yourself.
Myth 1: Many small, family-owned farms and businesses must be liquidated to pay estate taxes.
Reality: Only a handful of small, family-owned farms and businesses owe any estate tax at all, and virtually none would have to be liquidated to pay the tax. Myth 2: The estate tax constitutes “double taxation” because it applies to assets that already have been taxed once as income.
Reality: Large estates consist to a large degree of “unrealized” capital gains that have never been taxed; the estate tax is the only means of taxing this income. Myth 3: The estate tax is best characterized as the “death tax.”
Reality: Everybody dies, but only the richest 2 in 1,000 estates pay any estate tax. Myth 4: The estate tax forces estates to turn over half of their assets to the government.
Reality: The few estates that pay any estate tax generally pay less than one-sixth of the value of the estate in tax. Myth 5: Weakening the estate tax wouldn’t significantly worsen the deficit because the tax doesn’t raise much revenue.
Reality: Extending the temporary estate tax cut enacted in 2010 rather than restoring the 2009 rules would add billions of dollars to deficits. Myth 6: The cost of complying with the estate tax nearly equals the amount of revenue the tax raises.
Reality: The costs of estate tax compliance are relatively modest and are consistent with the costs of complying with other taxes. Myth 7: If policymakers decide to retain the estate tax, the logical top rate would be 15 percent, the same as the capital gains rate.
Reality: To match the effective tax rate on capital gains, the top estate tax rate would need to be about 45 percent. Myth 8: Eliminating the estate tax would encourage people to save and thereby make more capital available for investment.
Reality: Eliminating the estate tax would not substantially affect private saving, and it would greatly increase government dissaving (i.e., deficits); as a result, it would more likely reduce the capital available for investment than increase it. Myth 9: The estate tax unfairly punishes success.
Reality: The estate tax affects only those most able to pay, and the funds it raises help support a range of programs that benefit the nation. Myth 10: The United States taxes estates more heavily than do other countries.
Reality: Measured as a share of the economy, U.S. estate tax revenues are below the international average for taxes on wealth.
LOL.
Go to Open Secrets and do a donor search of that groups founder and leader Robert Greenstein. He consistently gives money to Democrats. You might as well be quoting Rush. It's partisan opinion from a partisan group.
Some people see everything as property of the government that you are given permission to rent.
Some people think everything they own is with their own hands.
Both people are seriously mistaken. The only thing they have in common is their abject ignorance. Non morons all throughout history understood securing land was linked to funding the security of the state.
This is the theory of rent, first propounded at the end of the last century by Dr. Anderson, and which, neglected at the time, was almost simultaneously rediscovered, twenty years later, by Sir Edward West, Mr. Malthus, and Mr. Ricardo. It is one of the cardinal doctrines of political economy; and until it was understood, no consistent explanation could be given of many of the more complicated industrial phenomena.
JS Mill.
How prophetic. How few seem to know what going on ever since economic rent was forgotten.
Things which are called capital are often a mix of capital and classical economic rent aka, income without any labor ...hence never taxed.
§5. A remark is often made, which must not here be omitted, though, I think, more importance has been attached to it than it merits. Under the name of rent, many payments are commonly included which are not a remuneration for the original powers of the land itself, but for capital expended on it. The additional rent which land yields in consequence of this outlay of capital, should, in the opinion of some writers, be regarded as profit, not rent. But before this can be admitted, a distinction must be made. The annual payment by a tenant almost always includes a consideration for the use of the buildings on the farm; not only barns, stables, and other outhouses, but a house to live in, not to speak of fences and the like.
Its simple fairness and good economics. Why dont you just donate your income straight to the Koch brothers instead of voting for their puppets? You'll lose your money either way. The consequences of eliminating the estate tax is of course that YOU will have to pay more and YOUR politician will be bought by the donor class families you support.
You're the person in here wanting to forcibly take money that is then funneled to Wall Street. You want to take money from the somewhat rich and have it passed on to the super-rich financial institutions. How rich do you want Soros and his banking buddies to get?
Go to Open Secrets and do a donor search of that groups founder and leader Robert Greenstein. He consistently gives money to Democrats. You might as well be quoting Rush. It's partisan opinion from a partisan group.
Of course, you are unable to refute any of the points. Just mindless drivel with no facts from you.
You're the person in here wanting to forcibly take money that is then funneled to Wall Street. You want to take money from the somewhat rich and have it passed on to the super-rich financial institutions. How rich do you want Soros and his banking buddies to get?
The super rich financial institutions support eliminating the estate tax, just like you are advocating. They also support handing over social security and medicare to Wall Street. You are their shill who they laugh at. That is the simple reality.
Meanwhile, as a result of the elimination of the estate tax and the loss of revenue, the GOP proposed massive cuts for the disabled, the blind and the veterans. This is the reality you support. You'd sing another tune if you got blind of course.
Says the guy who is just parroting from the roof tops. Get an education so you dont have to work as a shill for the donor class. They laugh at working stiffs like yourself.
I dont work. I'm comfortably retired, Skippy. A life event you likely won't experience.
You remind me of the WW2 German townspeople that ignored the smell that wafted from the next valley.
If it doesn't affect you, who gives a s#it, eh?
The super rich financial institutions support eliminating the estate tax, just like you are advocating. They also support handing over social security and medicare to Wall Street. You are their shill who they laugh at. That is the simple reality.
Meanwhile, as a result of the elimination of the estate tax and the loss of revenue, the GOP proposed massive cuts for the disabled, the blind and the veterans. This is the reality you support. You'd sing another tune if you got blind of course.
Admit it, it's not about any tax in particular as long as you can get even with those that are more successful than you.
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