Posted on 04/10/2013 3:35:29 PM PDT by markomalley
President Obama seeks in his new budget to raise the estate tax, which was permanently lowered in the Jan. 1 “fiscal cliff” deal between the administration and congressional Republicans.
Mr. Obama’s proposal would reinstitute the estate tax in 2018 at tax rates imposed in 2009, when about 3 in 1,000 people were subject to the tax. It would raise about $79 billion over 10 years.
The plan would drop the per-person exemption to $3.5 million from $5.25 million this year, and raise the top tax rate to 45 percent from 40 percent.
(Excerpt) Read more at washingtontimes.com ...
It should be zero. You’ve already paid the taxes once.
Gotta punish those savers and steal as much as possible.
Let’s level the playing field and tax the estates of politicians 100%
“It should be zero. You’ve already paid the taxes once.”
Precisely.
The big-government/big-corporate/big-union criminal complex doesn't cotton to competition.
That part which was dividends are triple-taxed. Corporate, then as dividend income, then estate tax.
What a privilege...
[Zero] seeks in his new budget to raise the estate tax, which was permanently lowered in the Jan. 1 “fiscal cliff” deal... would reinstitute the estate tax in 2018 at tax rates imposed in 2009... would raise about $79 billion over 10 years... would drop the per-person exemption to $3.5 million from $5.25 million this year, and raise the top tax rate to 45 percent from 40 percent.
It’s a very simple equation.
The Government steals half of what you make, the fruits of your LABOR, during your lifetime.
When you die, they steal half of the leftovers.
Your Heirs net 25%.
Which basically kills small businesses (LLCs) and family owned farms when the owner dies.
Obastard knows this. It is EXACTLY why he is proposing it!
One man’s savings is another man’s job, so said Jerry Nadler. I suspect that’s the trial balloon of the Retirement Account limits recently discussed. If you’re not putting money in IRA/401 etc. then you’re spending it. After all, Consumption is 70% of our economy.
So this further confiscation of personal savings will net the Fed at best $8 billion a year. The government is currently running $1 trillion dollar deficits every year or about 2.73 billion a day. So, this confiscation covers 3 days of Fed over-spending. What will they do to cover the rest of the year?
There has never be a tax that the Rats didn’t want to implement and after implemented, raise it.
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