House cancels estate tax repeal, extends current tax rate

Washington Post | December 3, 2009 | Staff

[MaestroLC]

The House votes 224-199 to cancel a one-year repeal of the estate tax, set to begin next month, and instead permanently extends the current tax, with a top rate of 45 percent on estates larger than $3.5 million.

[Little Pig]

Who said anything about renouncing citizenship. I’m just going on an *extended* sabbatical.

[Cheerio]

extending class warfare by the RAT party is really not news.

[Drill Thrawl]

I don’t know about that. I thought EMOcrat was a pretty good play on words.

[rdb3]

Stupid f**kers.

Tell us how you really feel.

[YankeeReb]

Sure didn't see this coming, another tax hike here in Soetoroland.

Let's just make it easy and every cent we get, even the pennies under our car seats, just turn them over to the nearest gubmint office, then we'll all sit home and wait for them to dole out our welfare check.

Can anyone with a tax background tell me, if I put all my accounts and my house in both mine and my kids names, and I die will they escape this redistribution? Not that I have $3.5 mill, but someday I'd like to.

[votemout]

Yes, can’t do everything that way. Do what the Kennedy’s do Charitable Remainder Trust.

[votemout]

When the government owns everything, we’ll all be thankful for some beans and flour once a week.

[Lucky9teen]

Removed....

by

force....

if

necessary!!!

[Politicalmom]

Emocrat might work. My kids use the slang word “emo”. Apparently kids who cut themselves are so prevalent that
there’s a word to describe them now.

Democrats are nuts, too.....

[Tzimisce]

You wanted Change America.

You got it.

[cdcdawg]

I can’t decide if this is a really good or really bad time to be reading Atlas Shrugged.

[The Citizen Soldier]

I think being a member of the Bar should EXCLUDE you from serving in the Legislative branch.

Amen!!

[BP2]

> The House votes 224-199 to cancel a one-year repeal of the
> estate tax, set to begin next month, and instead
> permanently extends the current tax, with a top rate of
> 45 percent on estates larger than $3.5 million.

Now if the “winners of life’s lottery” are SMART, they’ll
start dumping big $ to ONLY Conservative candidates (vs.
donating equally to both parties) to un-repeal this stunt by
the Democrats next November.

[crusty old prospector]

Two parents own medium sized farm and they pay the taxes to the government every year they farm, they are helped out on the farm by their son Bob. When the last parent kicks the bucket, not only does Bob have to pay taxes for that year for the farm, but he has to shell out a large sum to keep the government happy if he wants to keep what he has been investing his blood sweat and tears into for the last 30+ years he has been helping his parents farm?

I wonder how well this will play in Iowa and other farm belt states that voted for this Dope and Chains?

[july4thfreedomfoundation]

I thought slavery was repealed back in 1863?

President Palin and a Republican congress will get rid of the federal estate tax once and for all. The people who earned this money already paid an income tax on their earnings.....the estate tax is communist restribution of wealth from the families who earned it to the families who did not.

[freespirited]

The government (at one level or another) gets better than half of my personal GDP every year, and now plans to grab close to half of whatever I have left after I die. Where TF did they get the idea that they’re entitled to the fruits of our success at this level?

I can answer that, since I know this crowd well. They see no reason why you should be allowed to keep your money since they're sure they can do a better job than you of spending it.

This is how liberals think. And of course the reason they must be stopped.

[july4thfreedomfoundation]

I would tell this Jared Polis ahole that the “rich” worked hard and took risks and already PAID income taxes on their earnings.

Democrats = communist sacks of crap

[july4thfreedomfoundation]

When Rose Kennedy died, the Kennedys claimed that Florida was her state of residence, even though she lived the last 12 years of her life in Massachusetts. These hypocrites got away with it, and saved alot of money by avoiding the Massachusetts estate tax.

[kevinm13]

This vote and the expiry of the Bush tax cuts will mean 2010 will be the year that the American public (producers) will see the biggest tax increases in history. That doesn’t include tax increases for health care reform, cap and tax and everything else 0bama, Reid and Pelosi have up their sleeve. We may even see a stand-alone tax for the war in Afghanistan.

Time to buy insurance policies before the tax benefits there are eliminated and move to Costa Rica.

[DryFly]

From the article: “The current rates leave roughly 0.2 percent of all estates subject to taxation in 2009.”