Republicans Push $269 Billion Handout For Milliona

[Fionn mac Cumh]

http://www.huffingtonpost.com/2015/0...usaolp00000592

Tell me again how those rich heirs have worked so hard for their money? Tell me again how they create all these middle class jobs? I guess we cant help the poor, but we can help Paris Hilton.

[n david]

Originally Posted by Fionn mac Cumh

Tell me again how those rich heirs have worked so hard for their money? Tell me again how they create all these middle class jobs? I guess we cant help the poor, but we can help Paris Hilton.

Of course, what the liberal HuffPoo left out was the impact the estate tax has on farms and small businesses.

Brandon Whitt is a seventh generation farmer from Murfeesboro, Tenn., who works with his wife and father-in-law at Batey Farms, which dates back to 1807. The farm is now about 483 acres—after 120 acres had to be sold in 1988 to pay the estate tax when his wife’s grandmother passed away. (The exemption in 1988 was $600,000 and the top rate was 55 percent.) So, he’s very concerned.

“The exemptions we have today are fantastic,” he said. “Don’t misread me. But I’m much more interested in creating a level playing field for all farms and small businesses. Why should one farm/business have to pay and another not just because of superficial caps put on by government?”

He said land in his area is going for $25,000 to $40,000 an acre because land value have soared (from $3,000 to $4,000 an acre in the mid-1990s) ever since a Nissan plant was built nearby, though he has not had an appraisal done of his property.

“Unfortunately we don’t make a lot of money in this business,” Whitt said. “We would have to sell off a big part of the business to pay the taxes.” He said he would like to maintain the farm as an example of modern agriculture within an urbanized area.

[Fionn mac Cumh]

Originally Posted by n david

Of course, what the liberal HuffPoo left out was the impact the estate tax has on farms and small businesses.

Dude separate the two. We are talking about hundred millionaires. Paris Hilton is worth 143million dollars. The Fox News of the world has brain washed people like you into sticking up for the rich by bringing up the instances that you did. Keep the estate tax breaks for the instances you mentioned. Not for the attention whores like Paris Hilton who didnt earn a penny of her money.

[n david]

Originally Posted by Fionn mac Cumh

Dude separate the two. We are talking about hundred millionaires. Paris Hilton is worth 143million dollars. The Fox News of the world has brain washed people like you into sticking up for the rich by bringing up the instances that you did. Keep the estate tax breaks for the instances you mentioned. Not for the attention whores like Paris Hilton who didnt earn a penny of her money.

What you write sounds good, but you can't separate the two.

Besides that, the estate tax (death tax) is a tax on money which has already been taxed. I know libs like you love to beat up on the rich, but how would you like having your money taxed twice?

Libs love talking about being "fair," but the estate tax is everything but fair.

To see how punitively unfair the estate tax is, think about someone who is now 50 and will die at 80. Suppose his income increases by $1,000. If there were no tax, he could invest the $1,000 in a bond paying 7% interest and bequeath $7,600. In reality, though, the combination of a 31% marginal personal income tax rate and the 2.9% Medicare payroll tax cuts the original $1,000 in earnings to $660. Since a 31% income tax rate also reduces the 7% interest to a net-of-tax return of 4.8%, that $660 would grow only to $2,717 at age 80. So the combination of the tax on the original earnings and on the interest payments reduces the potential bequest by nearly 65%. Such is the effect of double taxation.

It seems very unfair to add an additional tax on top of this 65% burden. For someone with a taxable estate of $1 million, the marginal estate tax rate of 37% would cut the $2,717 bequest to a net bequest of l,712. The overall tax on the potential $7,600 bequest would therefore exceed 77%. And with an estate of $3 million, the overall tax would rise to 84%.

[aegsm76]

Have to say that I agree with FMC on this.
Dems and Reps are sometimes just two sides of the same coin.
On different issues of course.

[Fionn mac Cumh]

Originally Posted by n david

What you write sounds good, but you can't separate the two.

Besides that, the estate tax (death tax) is a tax on money which has already been taxed. I know libs like you love to beat up on the rich, but how would you like having your money taxed twice?

Libs love talking about being "fair," but the estate tax is everything but fair.

Yes you can separate the two. How is it not fair? Remind me. They did nothing to earn the money but simply be born into a rich family. I know you conservatives love conserving the rich's money at the expense of the middle class.

[n david]

Originally Posted by Fionn mac Cumh

Yes you can separate the two. How is it not fair? Remind me. They did nothing to earn the money but simply be born into a rich family. I know you conservatives love conserving the rich's money at the expense of the middle class.

Libs are so jealous. Yes, perhaps the offspring did nothing to deserve it. But what of their progenitor who DID earn the money?

[Fionn mac Cumh]

Originally Posted by n david

Libs are so jealous. Yes, perhaps the offspring did nothing to deserve it. But what of their progenitor who DID earn the money?

I am not jealous. Why dont you supposed conservatives come up with a new line.

How is inheritance different than me getting paid wages? The uber rich already have a plethora of tax deductions that I dont get as a middle class tax payer. Again do you love the Paris Hilton's of the world that much that you are willing to pay more taxes while they get even more tax breaks?

[shazeep]

and, their progenitor most likely "earned" that much money the old fashioned way--by stealing it--anyway.

[n david]

Originally Posted by shazeep

and, their progenitor most likely "earned" that much money the old fashioned way--by stealing it--anyway.

But of course. All the rich are thieves and liars.

Burn them! Burn them all!!!!