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Keyword: estatetaxes

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  • Why Over Half of Prince's Estate Will Go To The Government

    04/29/2016 11:51:58 AM PDT · by OddLane · 43 replies
    The Daily Signal ^ | April 29, 2016 | Rachel Greszler
    It appears that the pop star Prince may have died without a will, leaving behind a multi-million dollar and growing estate. Although Prince has one full sister and five half-siblings, Prince’s family members will not be his biggest heirs. Both the federal government and Minnesota’s state government will assess so-called “death taxes” or estate taxes on Prince’s assets, taking away more than half his estate. Between his physical assets— cash, investments, home, etc.—and his future royalties, Prince’s estate has been estimated to be between $300 and $500 million. If Prince were married, he could have passed on the entirety of...
  • Shock: Several 'blue' states are cutting taxes on the rich to spur growth.

    08/15/2014 4:19:19 AM PDT · by IBD editorial writer · 2 replies
    Investor's Business Daily ^ | 08/14/2014 | IBD Staff
    Tax Reform: A new report finds several states that helped elect President Obama are doing something he won't — implementing pro-growth tax policies to get their economies moving. Is the White House paying attention? You wouldn't expect a solidly blue state like Maryland — which hasn't voted for a Republican presidential candidate since Reagan — to be cutting taxes for the rich. But in their last legislative session, Maryland lawmakers passed a plan to raise the estate tax exemption almost fivefold over the next five years, according to the latest annual "Rich States, Poor States" report from the American Legislative...
  • The worst U.S. states to die in

    03/05/2014 11:19:05 AM PST · by EveningStar · 24 replies
    Yahoo ^ | March 4, 2014 | Bill Bischoff
    With the current relatively generous federal estate tax exemption of $5.25 million for 2013 and $5.34 million for 2014, you surely don't have any estate tax worries. Right? Not necessarily! It turns out that 19 states and the District of Columbia impose their own estate and/or inheritance taxes, and most of them have exemptions well below the federal amount. If you live in one of these places, your estate might be exempt from the federal estate tax but still exposed to a significant state death tax hit. Yikes! Here's what you need to know.
  • Actor Jeremy Irons: gay ‘marriage’ could lead to father-son unions to avoid estate taxes

    04/11/2013 6:26:45 AM PDT · by IbJensen · 34 replies
    Life Site News ^ | 4/10/2013 | Kirsten Andersen
    LONDON, U.K., April 10, 2013 (LifeSiteNews) – Academy Award-winning actor Jeremy Irons told HuffPost Live last week that he worries a redefinition of marriage to include same-sex couples could lead to abuses of the institution, including marriages between fathers and their sons. “It seems to me that now [gay activsts are] fighting for the name,” Irons told HuffPo Live host Josh Zepps. “I worry that it means somehow we debase, or we change, what marriage is. I just worry about that.” Zepps asked Irons about his views on gay ‘marriage’ during an interview about the Showtime series “The Borgias,” in...
  • Ranchers, farmers brace for 'death tax' impact

    11/17/2012 3:16:39 PM PST · by george76 · 21 replies
    FoxNews ^ | November 16, 2012 | William La Jeunesse
    the estate tax -- also known as the "death tax."... set to soar at the beginning of 2013 ... The estate tax dates back to 1916 when then-President Woodrow Wilson imposed the tax of 1 to 10 percent on the wealthy because World War I reduced federal government revenues. Under Franklin Delano Roosevelt, the tax rose to 77 percent, as Congress tried to prevent wealth from becoming concentrated among a few powerful and super-rich families. Ironically, many nations historically more concerned with class and wealth -- namely Russia and China -- have since abandoned their estate taxes.
  • Mark Levin Show: Death Panels Will Be A Reality With Obamacare [Youtube video]

    11/23/2011 8:21:54 PM PST · by No One Special · 155 replies
    Youtube ^ | November 22, 2011 | Mark Levin Show via Youtube
    A neurosurgeon, vetted by Levin's staff, calls Mark and talks about what he knows about Obamacare Death Panels. From 11/22/11
  • My Response To Buffett And Obama

    08/22/2011 4:39:05 PM PDT · by Sub-Driver · 7 replies
    My Response To Buffett And Obama Before you ask for more tax money from me, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. By HARVEY GOLUB Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don't need all the money I've not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to...
  • Dracula Tax States ready to feast on our family estates: they’re just waiting for us to die

    02/17/2011 7:49:04 AM PST · by jmaroneps37 · 9 replies ^ | FEBRUARY 17TH, 2011 | Kevin “Coach” Collins
    While new federal tax policy has eased the bite Uncle Sam takes from the estates of people who will pass on during this year and next, a number of states are ready to claim a large and growing share of what will be left. The new federal rule takes 35% in taxes from personal estates of $5 million and up ($ 10 million for married couples). This was not the repeal of the old 55% rate that kicked in at $1 million we conservatives wanted, but it was a good start that would affect less than 1% of Americans. States...
  • Barney Frank: Death Tax Not Punishment; Heirs Didn’t Do Anything to Deserve Inheritance

    12/19/2010 6:11:19 PM PST · by ChicagoConservative27 · 127 replies · 1+ views
    Mr. Frank's attitude seems to be that Americans need to justify why they should keep the money they inherit instead of the government needing to justify why they should be allowed to confiscate it. Video at link.
  • 18 rich families pay for campaign to kill estate taxes

    05/04/2006 4:12:50 PM PDT · by Karl Rand · 35 replies · 1,020+ views
    Cleveland Plain Dealer ^ | Wednesday, April 26, 2006 | Sabrina Eaton
    Eighteen of America's wealthiest families, including the Timkens of Canton, are bankrolling efforts to permanently repeal estate taxes that would save their families a total of $71.6 billion, according to a report released Tuesday by public interest groups. Groups funded by the super-rich have engaged in a deceptive campaign to convince the public that estate taxes cause widespread problems for small businesses and family farms when they actually affect about one in 370 estates, said the report released by Public Citizen and Boston-based United for a Fair Economy. This year, all assets under $2 million for individuals and under $4...
  • House Passes Permanent Estate Tax Repeal.

    04/14/2005 9:05:07 AM PDT · by WL-law · 39 replies · 873+ views
    Washington Post | Thursday, April 14, 2005 | By Jonathan Weisman
    The House voted 272 to 162 yesterday to permanently repeal the estate tax, throwing the issue to the Senate where negotiations have begun on a deep and permanent estate tax cut that can pass this year, even if it falls short of full repeal. ... The real fight will come in the Senate, where repeal supporters still appear just short of the 60-vote majority needed to break a promised Democratic filibuster. The Republican leadership, backed by Senate Finance Committee Chairman Charles E. Grassley (R-Iowa), has authorized Sen. Jon Kyl (R-Ariz.) to strike a deal that will win 60 votes. "He's...