Will Repeal of the estate tax save the 18 richest families $71.6 billion?

[vraiblonde]

How in the world did you get mixed up with such a left wing wacko?

I'm sure he sometimes asks himself how he got mixed up with such a right-wing wacko

 

[Pete]

The estate tax and minimum wage bill would, by 2015, increase the amount of an estate exempt from taxation to $5 million for an individual and $10 million for a couple. Estates worth up to $25 million would be taxed at capital gains rates, currently 15 percent and scheduled to increase to 20 percent. The top tax rate on larger estates would fall to 30 percent by 2015.

So if only estates up to $5 million are exempt then the Democrats still get to stick it to those nasty, evil, money grubbing really really rich people.

So will the Democrats let their disgust of rich people trump the minimum wage increase that would help the poorer Americans? Only Pelosi and Ried know.

 

[Bruzilla]

Rather than "Will Repeal of the estate tax save the 18 richest families $71.6 billion?" I think a more appropriate qwuestions would be "If the repeal of the estate tax will save the 18 richest families $71.6 billion, just how much money are they paying in taxes now?" Of course the Libs don't want to discuss the fact that this savings is maybe 10% of the billions these families are already paying.

One Lib who definately doesn't want to discuss that is George Soros, who has all his money on overseas accounts and who has his companies incorporated outside the US so he doesn't have to pay much in taxes.

 

[tikipirate]

Tying unrelated issues to a major bill is the stuff of politics, and damn shameful, but it happens on each side of the aisle. (All appropriations bills have pork riders on them. You can't just appropriate money for the Iraqi effort, there is always a major seaport development in Death Valley or Nebraska that goes along for the ride.)

As for the taxing of the rich... The Waltons and the Gallos and their ilk helped make 21st century America what it is, with plenty of employment opportunities. They deserve to keep their money and pass it on, instead of being forced to give it to the political machine, and, only eventually, to those who are too lazy to work at Wal-Mart or Gallo.

I do hope that the rich families in America will follow the lead of Leland Stanford, Andrew Carnegie, Warren Buffett, Bill Gates, and others who have formed business-minded charitable trusts that ensure money goes where it is properly used, and not into the vast pockets of promises and pork that is our political system, fueled by tax dollars.

"Vast pockets of promises and pork"? Where's my attorney? Gotta get rights on that!

 

[2ndAmendment]

Only thing I disagree with is what do minimum wage and inheritance tax have to do with each other. Why can't both be voted on their own merits?

That would be good. Neither one has any good merits. Can them both. Don't tax dead people and don't give wages to people that don't deserve them.

The minimum wage is why it costs $6+ for a meal at McD's instead of 99 cents like it used to. It is why cars cost $40000 instead of $4000. It is why houses cost $500000 instead of $50000. The minimum wage is directly related to inflation. And the minimum wage will never be a living wage. Never! What don't people understand about the word minimum. Minimum -> least. Everyone gets at least the minimum. Minimum -> bottom of the wage scale -> lowest rung on the ladder. The guy on the bottom is still on the bottom whether he gets $1.25 or $125 an hour. Bottom is bottom.

What raising the minimum wage does do is put more people on the bottom. Minimum wage is raised to $7. So the people that had worked hard to get raises and went from earning the minimum of $5.35 (or whatever it is) and were earning somewhere between the old minimum and the new minimum are now minimum wage workers again. Bet that makes them happy. And the cost of everything will go up from a loaf of bread, which used to cost 10 cents when the minimum wage was $1.25, to houses because almost everything has minimum wage workers involved in them at some point. So everything goes up in price and the minimum wage worker still does not make a "living wage."

If a dummy like me can figure this out, why can't the DNC and other liberals figure this out? Oh. I know. They have. By increasing the ranks of those in poverty, they increase their proclaimed "victim mentality" voter base.

 

[Toxick]

ISSUE: Is a Reduction/Repeal of the Federal Estate/Inheritance/Death Tax good for average Americans or does it just benefit the richest of the rich?

It's a good day for the rich.

It's a good day for the destitute.



For those of us in between, all that's happened is that our paychecks have just been devalued, just in time for mid-term elections.

Yay.

 

[FromTexas]

Rather than "Will Repeal of the estate tax save the 18 richest families $71.6 billion?" I think a more appropriate qwuestions would be "If the repeal of the estate tax will save the 18 richest families $71.6 billion, just how much money are they paying in taxes now?" Of course the Libs don't want to discuss the fact that this savings is maybe 10% of the billions these families are already paying.

One Lib who definately doesn't want to discuss that is George Soros, who has all his money on overseas accounts and who has his companies incorporated outside the US so he doesn't have to pay much in taxes.

I would think it quicker to just look at the savings ($71.6 billion) and the net worth ($185 billion) and come to the quick conclusion... Holy #@$! Commie NewsBot thinks its appropriate to take half of these peoples wealth just because they had the gall to die!