Posted on 03/13/2010 1:38:25 PM PST by 198ml
Imagine the audacity of wanting to dispose of your own money as you see fit? The idea is hateful to Bill Scher of the Huffington Post, who demanded in "Super Wealthy Deathly Afraid Estate Tax Would Reduce Deficit" on March 9 that the wealthy "pay their fair share."
Scher railed against the Bush tax cuts, and asserted that a 35-45 percent inheritance penalty (the estate tax or death tax) isn't punitive enough to stem the deficit crisis.
"But those massive tax breaks to the superwealthy don't quite have the same juice they used to. Especially, the estate tax - levied on the inheritances of the wealthiest heirs in America," Scher wrote. "This year, because of the Bush tax plan from his first term to gradually phase out the estate tax altogether, the estate tax is literally wiped off the books."
(Excerpt) Read more at newsbusters.org ...
Let’s start with Arianna.
I’m not rich, but, I’m really really sick of the class warfare. The rich this and the rich that...blah..blah..blah, reminds me of an old nag. Well guess what, compared to 3rd world countries even the poorest of the poor here look rich.
When are the commie libs going to start paying their “fair share” of taxes?
And how much death tax did Ted Kennedy pay? None?
By the way, what ever happened to calmly and logically advancing an idea, proposing and explaining and justifying it rationally, with coherent figures? Is everything a “demand” now?
They don't pay them, they collect them.
The poor pay nothing. They must be taxed or surrender rights
These people make me sick
What is the justification for a death tax? Will the government pay for the funeral? Is it charging for the land youre buried in? What service has the government provided, that makes an estate tax a viable form of taxation?
Why doesnt Mr Scher start doing his bit, by coughing up 55% of HIS monthly income? Why wait till death, Mr Scher?
Wouldn’t it be more prudent to just start seizing the Homes of rich people?? I know a nice little shack on Carmelina in Brentwood we could start with. I hear the Lady that owns it runs a Business out of her house also, and ALL of her Neighbors HATE HER. I know all the neighbors.
You guys be quiet and pay your death tax now! If you don’t, Arianna will look at you and you will turn gay.
What about you, Huffypoo? Where do you shelter your wealth?
Our death panels will seek out the old rich. Once we quickly put you to death -- all your money are belong to us !
No, Teddy died in the wrong year. In 2009 the first $3.5M in estate value was exempt from the Federal Estate Tax (actually, a credit equal to the amount of tax that would apply to the first $3.5M is given, effectively zeroing out the tax on that amount.)
How the Kennedy’s have arranged their affairs, I don’t know. But whatever he had in excess of $3.5M would be taxed at a rate that begins in the high 40’s and caps at a 55% rate. Had he been dragged across the finish line to January 1st, and died during 2010 - there would have been no Federal Estate Tax, no matter how large his taxable net estate was. A $1M exemption will apply starting on January 1st 2011, unless the Congress acts to modify existing legislation.
People like the Kennedy’s have done a lot of planning over several generations and it might be surprising to find out how small his net taxable estate was.
So let me see if I’ve got this straight.
The Leftists and the Race-Baiters (including Obammie the Commie) believe that white Americans owe “reparations” to blacks because of slavery. This concept is based upon the idea that slaves of long-ago had their “earnings” confiscated and that, had they been free, they would have then passed their earnings down to their children.
But now they are also saying that the right to pass on your earnings to your children should be selectively applied.
Typical Leftist self-contradiction based in an ideology that believes in tyrannical control of the people.
(And remember, folks, “rich” now means “middle class.”)
Trying to balance the budget by increasing taxes on "the rich" without, at the same time, cutting government spending, will have the following effects on the economy as a whole:
1)slow down or decrease amount of saving
2)slow down or decrease productive expenditure
3) decrease capital accumulation or slow down the rate of increase in capital accumulation
4) slow down economic progress
5) decrease costs of doing business
6) increase oppression
7) by slowing down economic progress, it hurts those who he is pretending to care about (the "non-rich").
But if his goal actually is to punish "the rich" and destroy the economy at the same time, this is an excellent way to do it.
Bill Scher
Bill Scher is the executive editor of LiberalOasis.com and the Online Campaign Manager at Campaign for America's Future
Campaign for America's Future (CAF) is an American political organization of progressives. Its main issues of concern include the environment, energy independence, health care reform, Social Security, and education. The Nation editor Katrina vanden Heuvel, AFL-CIO president John Sweeney, and Los Angeles Mayor Antonio Villaraigosa serve on its board of directors.
CAF has received funding from George Soros, the Agnes Gund Foundation, the Arca Foundation, and the Rockefeller Family Fund.
In March 2008, CAF presented its Lifetime Leadership Award to Norman Lear, recognizing him "for his work as both a groundbreaking television producer and an outspoken progressive activist and benefactor"; for "fighting the rising influence of the religious right in American politics"; and for founding People for the American Way, "an organization that has been a staunch critic of the right and a fierce defender of the principle that progressive Americans
The other members of CAF's coalition included MoveOn.org, Rock the Vote, ACORN, the National Council of La Raza, the Women's Voices Women Vote Action Fund, and the AFL-CIO.
How about we cut taxes on the rich and have the bottom half start contributing something.
The bottom half of all tax payers only pay about 3.5% of the federal income tax. We need to get that up closer to 20%.
Any government worth having is worth EVERYONE contributing to, no matter how small the amount.
If taxes on people don't hurt, they have no reason to vote for lower taxes. We need to raise taxes on the poor until it hurts.
Perhaps we should start taxing all transfer payments at the highest marginal tax rate with NO deductions or exemptions.
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)
The wealthy need to pay their fair share?
The wealthy are the only ones who pay a death tax. There is no “share” involved. This is direct confiscation and redistribution of wealth.
The idiots on the left just don’t get it. The poor don’t create jobs, the rich do. If they keep taxing them unfairly then I hope the rich would leave this country. The left are just a bunch of dolts. They could care less about people. It’s just about power. We need to get rid of them before they do irreparable harm to this country.
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