Skip to comments.House votes to extend tax on wealthy estates
Posted on 12/03/2009 1:30:51 PM PST by markomalley
The House voted Thursday to permanently extend a 45 percent inheritance tax on estates larger than $3.5 million, canceling a one-year repeal of the tax set to begin next month. A similar effort is afoot in the Senate, but the health care debate there could preclude action on the estate tax before Congress breaks later this month for holidays. There are also disagreements among senators over the tax rate and the size of estates that should be exempt, further clouding the bill's prospects.
Lawmakers, however, don't want to delay action until next year because they are wary of enacting retroactive tax changes.
Under the House bill, estates smaller than $3.5 million would continue to be exempt from the tax. Married couples, with a little estate planning, could exempt a total of $7 million. That leaves less than 1 percent of all estates subject to the tax.
The bill passed by a 225-200 vote, with all Republicans opposed. Majority Democrats argued that a permanent tax rate makes it easier for families and small business owners to do estate planning, noting that fewer than 1 percent of all estates are subject to the tax.
"In America, it's not a sin to be rich nor is it a crime to die rich," said Rep. Jared Polis, D-Colo. "This bill gives our nation's wealthiest families the ability to know exactly what their obligation to the nation that fostered their wealth will be, and it is fair and it is just."
Rep. Louie Gohmert, R-Texas, likened the estate tax to stealing from the dead.
"After someone dies and someone comes in and steals from them, we consider that in most society reprehensible," said Gohmert, a former judge. "I have sentenced people personally to prison for doing that."
(Excerpt) Read more at breitbart.com ...
They are trying to.It is called Cap and Trade.
“This bill gives our nation’s wealthiest families the ability to know exactly what their obligation to the nation that fostered their wealth will be”
ah so, sit on your ass and the nation will foster your wealth. Only fair to pay the nation back, with interest.
What a steaming pile of horse manure.
In the immorality of taxes, this is by far the most immoral. Be glad I don’t have the energy to type the tapestry of vulgarity I’m weaving at the moment.
Actually they are planning to tax farting, it damages the environment. They have this plug see, it goes ... well you have to put money in the coin slot before you can let it out. Explode or pay.
Your dead and they rape your dead body by taxing your estate to the public instead of to where you intended for it to go.
They tax the tax and then tax again.
Makes me wonder when our country will start having lots of unrest in protest due to all of the private wealth confiscation.
“The welfare of humanity is always the alibi of tyrants.” - Albert Camus
“I wonder when they will apply a tax to breathing.”
SHHHhhhhhh...quiet .....don’t give them any ideas....
These traitors can kiss their political rears goodbye come 2010 and 2012.
Watch the video trailer.
i guess paying for everyone else's crap all those years wasn't enough... now they RIGHTEOUSLY DEMAND my children must give up half of what i worked for??
Oh boy!! We will be soooo much better once America runs those EVILLLL rich people overseas. Who needs ‘em anyway? So what if they decide since they are so rich, they can afford to move away and take their money with them!
Folks, this is nothing.
Just wait for 1/1/2011, when the Lifetime Exemption goes to $1 million and the highest marginal rate goes to 55%. This will happen if Congress simply DOES NOTHING. It is automatic - and they get to raise taxes a bunch while credibly stating that, “I never voted for a tax increase.”
Further, the highest income tax rate will go up to 39.6%, also on 1/1/2011, for the same reason.
45%! What Constitution document? What we've got now is a Declaration of Dependence and a Prostitution document...
It's time to water the dang tree!
So, let’s see, the bill passed by about a 55-45 margin. That means something like 90 REPUBLICANS voted for it (based on their percentage in Congress). They VOTED FOR A HUGE tax increase, those RINOs!!!
Hmmmm. Wait a second. The article also says this:
“The bill passed by a 225-200 vote, with all Republicans opposed.”
HOW COULD THAT BE??? Michael Savage and half the people on this site keep telling me that there is NO DIFFERENCE BETWEEN THE PARTIES. Looks like we’re being lied to.
Here was the roll call vote:
Shhhhh. If you let information like that out, you’ll DESTROY the plan of the Democrats to sever the conservative base off the party. The next thing you’ll tell me is that Savage gave money to Pelosi and/or Boxer.
And some of those opposed were RINOs. I thought there was nothing good about ANY RINO. They deserve to be stoned. (sarcasm)
Yea - I think it’s a RINO conspiracy. If the RINOs vote with the Republicans 70% of the time (whereas the even the most conservative Democrats vote with the Republicans maybe 25% of the time), the RINOs will almost look like Republicans...thereby throwing us off-balance and making us believe that is a difference between the parties.
But we’re not fooled.
And it spoils our fun of bashing RINOs. We much prefer RINOS NEVER vote Republican. Then it’s justification for our hysteria.