But by dying in 2010, his family avoided $500 million in estate taxes that it would have paid if he’d hung on another year. Why? Because the inheritance tax is in exile this year.
I’d shoot myself if I were 80, and sick, and I could save for my family $500,000,000 ...
Well, maybe ...
How disgusting is this? Shame on the GOP for not making these cuts permanent from the start. Why is it that a MINORITY of progressive/Marxists in congress always seems to get its way, but when the GOP is in the MAJORITY they can never get their full agenda in? Does this seem right?
On the other hand 500 million would do wonders if it went directly towards the debt. Of course that won’t happen. Why can’t these folks find a way to pay off the debt. If I was President that would be my number one priority. I would piss off so many people that I would never win a second term but the debt would be significantly lowered. I would take checks from people who want to pay towards the debt (I know FREEPERS hate that Idea for some idiotic reason). I would close down many departments and consolidate many. Welfare would be postponed for a year. Social Security would be only for 65 years and older (no early SS or anyone under 65 does not get a dime. A parent who dies needs to be insured for their children...not governments job). The quarters would go from 40 quarters to 160 quarters....YEP that is 40 years straight working and if you only have 159 quarters you don’t get a dime. We would be in much better shape after my administration at least financially.
How many plugs will be pulled on terminally ill wealthy individuals, by their loving families, in December?
Get ready for your life to change. The so-called benefits of Obamacare don’t start until 2014, but the tax increases, misallocated resources and federal regulations start now. House Speaker Nancy Pelosi famously said the night of Obamacare’s passage, “We have to pass the bill so that you can find out what is in it.” The emerging picture is frightening.
Obamacare dramatically alters the already overregulated health insurance market. The law creates a maze of mandates, federal directives, price controls, tax increases and subsidies.
We all begin paying Obamacare taxes this year. The law includes at last count at least 19 new taxes. As Americans begin to reap the personal financial burden of Obamacare, the movement to repeal it is mounting.
Individuals must pay an annual penalty of $695, or up to 2.5 percent of their annual income, if they don’t purchase an approved health insurance plan. Penalties on families include an annual penalty of $347 per child, up to $2,250 per family, if parents don’t purchase an approved policy.
Most of us have heard about the penalties on employers. Business owners must buy a government-approved health plan or pay a penalty of $2,000 per employee if they have 50 employees or more.
Medicare taxes are climbing, too. The bill requires single people earning $200,000 or more and couples earning $250,000 or more to pay an additional 0.9 percent in Medicare taxes.
Thinking about downsizing or buying a new home? There are new taxes on home sales tacked on the bill. Obamacare imposes a 3.8 percent tax on home sales and other real estate transactions........
Read more at the San Francisco Examiner: http://www.sfexaminer.com/opinion/columns/oped_contributors/US-taxpayers-soon-to-taste-the-bitter-fruit-of-Obamacare--98715324.html#ixzz0u8uGMn00