Posted on 08/18/2016 5:46:05 AM PDT by milton23
President Barack Obama isn’t afraid to enact his agenda over the will of Congress. At this late stage in his presidency, he’s still overreaching his authority to push through an agenda; his most recent overstep being an effort to unilaterally raise the federal estate tax.
Conservatives have successfully lessened the impact of the estate tax, colloquially known as the “death tax,” in recent years. In 2000, before George W. Bush became president, the death tax had a rate of 55 percent and struck families with assets valued at $675,000 or more.
(Excerpt) Read more at dailysignal.com ...
The elimination of inherited wealth has long been one of the planks of the communist manifesto.
“The elimination of inherited wealth has long been one of the planks of the communist manifesto.”
President Trump should also go regulatory and say all foundations with over 1 million dollars in foreign donations will be subject to a 90% fine. It’s not a tax!
Rich liberals have protected their wealth with legal means. There are trusts and off-shore wealth. Maintaining a trust costs at least $10,000 a year. (That’s what my parents are paying.) For most, it is unaffordable. But the elites like the Kennedy’s will be rich for another hundred years off of the wealth gained from Prohibition by Joe.
Any questions?
Turtle and PRyno continue to fail.
Your parents should hire you to administer it for $100,000 and then deduct your salary, for a savings of at least $10,000. I've heard it can be done!
Can’t WAIT for Trump’s pen & phone..!
Embrace the SUCK, liberals.
Pass & deemmmmm...!!!
tick, tick, tick, tick.....
An odd thing happened with death taxes. Something about being between laws governing and it boiled down to the year 2010. Anyone dying during that year and their beneficiaries were not taxed at all.
In my case, my mother died during that year and there was no federal tax nor reporting required on it. The Georgia tax implications were tied to what the Feds took. Essentially the entire inheritance/estate taxes were nil. From my understanding, it was just that year, 2010.
Easily challenged in court. The economic arguments against such treatment are overwhelming.
Clintoon may be crooked, dangerous and sickly but Obonzo is a thief.
There should never have been a death tax.
The elimination of inherited wealth has long been one of the planks of the communist manifesto.
the very existence of a death tax reveals the absolute and evil dementia to which the human mind can descend...
“President Barack Obama isn’t afraid to enact his agenda over the will of Congress.”
Congress has a “will”?
It doesn’t have to. I am a beneficiary of a trust and I am a trustee for a different trust. The trustee can choose not to charge a fee.
The real cost is what you pay the trustee...other than things like Accountant to do the Tax filing. If you pass through the income-which you have to do in order not to be taxed with a much higher tax rate- then the beneficiary pays those taxes.
I don’t get an explanation for what all the things are on my K1 so I just hire an accountant to deal with all of that.
From my understanding, it was just that year, 2010.
depends entirely on state law...I can assure you, Pennsylvania is not tied to the Federal threshold; it is (or was, 2011) 4% on dollar one, to non-spousal beneficiaries regardless of Federal status...
somene should look up state laws regarding death taxation; it would probably presage the Trump/Clinton electoral vote distribution in November...
Glad we live in Georgia, then.
“Easily challenged in court. The economic arguments against such treatment are overwhelming.”
Maybe you haven’t noticed, but the rule of law, the Constitution, and compelling arguments on policy haven’t meant anything for at least 8 years.
Judicial activism and political correctness carry the day now.
Our only chance is a President Trump.
I can assure you, Pennsylvania is not tied to the Federal threshold;
further insult to injury; the fine state of Pennsylvania also precludes offsetting any income derived from the estate with expenses in maintaining the estate until its settlement; Feds allow it, Harrisburg does not...malicious grubs...
Trump needs an army to research and find everything he has to overturn when he takes office. Then there’s the DC moles to weed out and fire.
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