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The Death Tax Taxes on Death
American Legislator ^ | 9-12-13 | Will Freeland

Posted on 09/19/2013 9:33:37 AM PDT by ThethoughtsofGreg

It has been said that the only certainties in life are death and taxes. Thankfully, across the states it’s becoming less likely for Americans to be actually taxed on death. Recently, the Wall Street Journal had an outstanding editorial on the Death Tax (otherwise known as the estate or inheritance tax) across the 50 states, titled “The Die Harder States.” The editorial points out a positive trend: four states have recently scraped their death tax. Recently, we chronicled North Carolina and Indiana’s pro-growth move to eliminate their death tax. With the addition of Ohio and Tennessee to the “States that have recently repealed the death tax”, there are now 18 states (plus the District of Columbia) that see it fit to tax the hard-earned and previously-taxed assets of the deceased as they are passed on to their heirs.

This trend is a major cause for optimism in state economic policy, particularly in the face of an extremely tepid economic recovery in the wake of a massive economic contraction and characteristically poor policy by the federal government with respect to the death tax (previous cuts were allowed to expire, bringing the federal death tax up to a 40% rate on estates with an exemption of only $5 million). Despite this generally positive trend on the state level, the Journal points that some states have taken the path of pain:

(Excerpt) Read more at americanlegislator.org ...


TOPICS: Business/Economy
KEYWORDS: deathtax; taxes

1 posted on 09/19/2013 9:33:38 AM PDT by ThethoughtsofGreg
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To: ThethoughtsofGreg
Plank #3 of the Communist Manifesto is the abolition of all rights of inheritance.

The government is your sole heir.

2 posted on 09/19/2013 9:35:15 AM PDT by E. Pluribus Unum (When your policy is to rob Peter to pay Paul, you can count on enthusiastic support from Paul.)
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To: ThethoughtsofGreg

death taxes are the democrats mechanism to grab your family’s wealth


3 posted on 09/19/2013 9:37:56 AM PDT by sten (fighting tyranny never goes out of style)
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To: sten
It is ridiculous. They are trying to grab money that has already been taxed twice to obviously maintain the bloated government.

We are in a bad direction in this country.

4 posted on 09/19/2013 10:09:14 AM PDT by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
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To: ThethoughtsofGreg
What an unlawful racket the Government has going here. Otherwise known as grave robbing.

Mr. Gov.: "You just died Mr. John Doe. That's going to cost you most of your life savings."

Mr. Doe: "But I've already been taxed to death!"

5 posted on 09/19/2013 12:03:20 PM PDT by 444Flyer (How long O LORD? Habakkuk 2;Isaiah 55)
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To: ThethoughtsofGreg
If an Economist wrote the headline:
Study finds that unexpectedly, despite governments best efforts to disincentivize death, people continue to die.
6 posted on 09/19/2013 12:10:06 PM PDT by Idaho_Cowboy (Ride for the Brand. Joshua 24:15)
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To: sten

"He said he'd rather to be buried with his wallet then to have it confiscated. So here we are. The State just wants its fair share."

7 posted on 09/19/2013 12:19:08 PM PDT by 444Flyer (How long O LORD? Habakkuk 2;Isaiah 55)
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