inheratance (death) tax

[husker]

i am looking for people's thoughts on this. my thoughts on it go back to this countries founding fathers original intent for it, but i would like to hear others thoughts first.

[husker]

amazing, i guess the only reason people are here is to argue. why not argue about this also?

[grandmama]

what did the founders imply? I don't like the change of name from Estate tax to death tax.

[husker]

what did the founders imply? I don't like the change of name from Estate tax to death tax.

i always thought the tax was unfair and a double tax until i heard the reasoning for why it was put in place. in europe a small amount of people controlled all the wealth, they even married each others families to keep their wealth. they didn't want this to happen here, so this was the way they thought they could stop this from happening in the USA. redistribution of wealth, but ONLY at ones death. there wasn't a income tax back then, there was no redistribution of wealth while you were alive.

i don't think you should pay taxes up to a couple million dollars, this would allow people to take care of their families and pass on family farms and small businesses. the super rich could ether start giving their money to causes they like (a lot are doing this already), or lose most of it to the govt.

i don't like penalties (heave taxes) put on people that are making money. people should be encouraged to make as much as they can, that's what made this country great. we are getting away from those principles.

[husker]

I don't like the change of name from Estate tax to death tax.

that is a political thing just like death panels. both sides do it.

[10DimeBry]

i think it is total BS. why should govt get 50% of someone's earned money? Just because they are the govt??? No way. Do ppl even realize that many many ppl die daily and have tons of money and no one to leave it to. You know who gets 100% of their estate???? govt does. The death tax is a crock. PPL already pay income tax state tax and local taxes all their lives.

[Big Country 5]

Hate it.Im tired of the government taxing the sucessful,working people,to support the sorry asses who wont get off there ass and do for theirselves.

[flarendep1]

Total money grab and an unfair tax.


My favorite Beatles lyrics!!





Lyrics to Taxman :
Let me tell you how it will be,

There’s one for you, nineteen for me,

‘Cos I’m the Taxman,

Yeah, I’m the Taxman.

Should five per cent appear too small,

Be thankful I don’t take it all,

‘Cos I’m the Taxman,

Yeah, I’m the Taxman.

If you drive a car, I’ll tax the street,

If you try to sit, I’ll tax your seat,

If you get too cold, I’ll tax the heat,

If you take a walk, I’ll tax your feet.

Taxman.

‘Cos I’m the Taxman,

Yeah, I’m the Taxman.

Don’t ask me what I want it for



If you don’t want to pay some more


‘Cos I’m the Taxman,

Yeah, I’m the Taxman.

Now my advice for those who die,

Declare the pennies on your eyes,

‘Cos I’m the Taxman,

Yeah, I’m the Taxman.

And you’re working for no-one but me,

[BettorsChat]

Is it 50%? I have a grandmother that is in bad shape. My moms 2 brothers are drooling waiting for her to die as one got everything put into his name. I can't believe it's 50%. I know if a will is contested then the Lawyers and Courts etc end up with about getting 50%.

[flarendep1]

Is it 50%? I have a grandmother that is in bad shape. My moms 2 brothers are drooling waiting for her to die as one got everything put into his name. I can't believe it's 50%. I know if a will is contested then the Lawyers and Courts etc end up with about getting 50%.

Monte,

You do know she can gift away a certain amount per year to each family member - tax free. Is you Moms brother have the power of Attorney? That is to make decisions on her behalf in case she cant.

Also, her estate has to be over the federal limit to get hit real hard - I think next year it will be up to 3.5 million. If under that you only pay the state.

Also, I think the thieves are trying to eliminate to gift clause.

[Guns]

Is it 50%? I have a grandmother that is in bad shape. My moms 2 brothers are drooling waiting for her to die as one got everything put into his name. I can't believe it's 50%. I know if a will is contested then the Lawyers and Courts etc end up with about getting 50%.

Not to sound too cold, but if she passes in 2010, they won't pay the death tax. On January 1, 2011, it expires and rolls back to 2002 levels of 55% on amounts exceeding $1 million.

NCIS departments will be busy later this year investigating suspicious deaths. If you are waiting for an inheritance, 2010 is the year that will benefit you the most financially.

[10DimeBry]

Monte,

You do know she can gift away a certain amount per year to each family member - tax free. Is you Moms brother have the power of Attorney? That is to make decisions on her behalf in case she cant.

Also, her estate has to be over the federal limit to get hit real hard - I think next year it will be up to 3.5 million. If under that you only pay the state.

Also, I think the thieves are trying to eliminate to gift clause.

you can gift up to 10k per year per person with no penalty or claiming.