Posted on 12/10/2007 11:38:09 AM PST by Dane
Death and Whoopi's Taxes December 10, 2007; Page A18
We don't normally look to Tinsel Town liberals for insights on U.S. tax policy, but Whoopi Goldberg's comments on the estate tax last week deserve more attention.
During a discussion of Republican Presidential candidates on ABC's "The View," which the comedian co-hosts, Ms. Goldberg said, "I'd like somebody to get rid of the death tax. That's what I want. I don't want to get taxed just because I died." The studio audience started applauding, but she wasn't done. "I just don't think it's right," she continued. "If I give something to my kid, I already paid the tax. Why should I have to pay it again because I died?"
Back in 2001, before President Bush signed estate tax reform into law, the death duty topped off at 55% on estates worth more than $3 million. Today the top federal rate is 45% with an exemption of $2 million, and under current law the rate falls to zero in 2010. In 2011, however, the death tax is resurrected, with the top rate restored to 55% and the exemption set at $1 million.
(Excerpt) Read more at online.wsj.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
By now she knows, and you will never hear another peep from her about it.
Buffet and Gates are execrable
No, Whoopi wants it like Gates and Buffet. ;-)
That twit whoopi must be off her meds........
“and under current law the rate falls to zero in 2010. In 2011, however, the death tax is resurrected”
Memo To: Warren Buffett
From: Your Kids
Message: Please die between Jan 1st, 2010 and Dec 31st, 2011.
Love, Your Kids
Oh, I’d say the estate planners like it, the life insurance salesmen like it, the prefer-stepped-up-income-tax-basis people like it . . and of course, liberals love it.
But other than those, you’re clearly right. The FET is a disgrace.
I won't say I like Whoopi, but she is not a leftwing kool-aid drinker. I think she is a true moderate, believing in some leftwing ideas, and some rightwing ideas.
I find myself agreeing with her on a number of issues. But I'm not sure I have ever nodded at Joy Behar or Barbara Walters and said, "Ya know, she has a point!". Whoopi may not be my kind of girl, but she's different from the others on that show.
It’s the “stopped clock” thing.
Not to worry, her masters will have her back on her meds soon and she'll be preaching the redistribution of wealth line again in no time.
I think that is because she has worked other real jobs and never had a silver spoon in her mouth as the leaders of the modern democrat party(Madam nancy, hillary, etc.) have.
One of her jobs was to dress hair at a funeral home. She said it was a great job because there were no complaints.
Should be worth a few $$$ a ticket.
Liberals never include themselves in the redistribution of wealth. It is our money they wish to redistribute, not theirs. Whoopi must not have had a lawyer create tax-evading trust funds yet.
If Buffett was truly worried about not having to pay death taxes he would unshelter his estate and he wouldn't give the vast bulk of it to the Bill and Melinda Gates foundation to avoid the death tax.
Let me tell you how it will be,
Theres one for you, nineteen for me,
Cos Im the Taxman,
Yeah yeah, Im the Taxman.
Should five per cent appear too small,
Be thankful I dont take it all,
Cos Im the Taxman,
Yeah yeah, Im the Taxman.
(If you drive a car), Ill tax the street,
(If you try to sit), Ill tax your seat,
(If you get too cold), Ill tax the heat,
(If you take a walk), Ill tax your feet.
Taxman.
Cos Im the Taxman,
Yeah yeah, Im the Taxman.
Dont ask me what I want it for
(Ah Ah! Mister Wilson!)
If you dont want to pay some more
(Ah Ah! Mister Heath!),
Cos Im the Taxman,
Yeah yeah, Im the Taxman.
Now my advice for those who die,
Declare the pennies on your eyes,
Cos Im the Taxman,
Yeah, Im the Taxman.
And youre working for no-one but me,
(Taxman).
The Beatles.
Here is why. The ultra wealthy and exceptionally powerful corporate titans view the death tax as a vehicle to purchase businesses and assets at greatly reduced prices. When the busines owner dies, the family has to pay a huge sum, and often to raise it they have to sell that which brought them wealth to begin with.
Thats how Warren Buffett has become so wealthy. Snapping up businesses at discounted prices because of forced sales.
My aunt is a big lib. Wholly based on her guilt of being so successful and others having "so little".
I remember way back in the early part of the decade being at a dinner at her house. This was shortly after Bush was elected and the elimination of the death tax was a hot topic. She came out in opposition to the elimination of it in the conversation. I let her go on for a bit on why. I then got her to reaffirm her postion, the death tax should remain.
Doing a good bit of financial work for her and her husband I know many an intimate detail about their finances, holdings, net worth, etc... So I had a good bit of ammo most wouldn't for this conversation. They also had one daughter in high school and one in college at the time.
I asked her, if you and Uncle X were to die in a car crash tomorrow you would want your daughters to get the house, cars, and assets right? Of course she replied yes. I then asked her where these two teenagers would come up with the nearly $700,000 in death taxes the estate would be liable for.
Until that moment she never realized she was one of the evil rich and would actually be subject to the death tax.
It didn't change her mind. She is still a person wholly driven by guilt and feelings. Like 99% of libs.
Gates and Buffet and the other trust fund hustlers pushing for the return of the Death Tax are totally full of crap because they already know they can pay as much tax as the want to. When I can see some copies of 7-figure checks they have written to the below, then I candider them to be something other than liars.
From the United States Treasury Department FAQ.How do you make a contribution to reduce the debt?
Make your check payable to the Bureau of the Public Debt, and in the memo section, notate that it is a Gift to reduce the Debt Held by the Public. Mail your check to:
Attn Dept G Bureau Of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188
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