Democrats: Please discredit this list of Obama tax increases for me.

Onceler said:
I agree to an extent that part of the reason people work so hard is to be able to pass something onto their kids, and that should be their right. The spirit of the estate tax is much more geared toward the Paris Hiltons of the world, and toward preventing what some of the founders warned as an aristocracy of inherited wealth.

I think it's a matter of where you set the limits & the amounts that can be taxed. I agree overall that on the estate tax & other taxes, there needs to be a change of mindset on what constitutes "wealthy", because it's a lot different now than it was 10-20 years ago.
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There will always be the Paris Hilton's of the world (of course she is a millionare many times over herself, which is a joke, so she doesn't even need her inheritance which it sounds like her father is giving most of it away anyhow) however far more estates are at the low end of tax. There will always be the Paris Hilton's of the world. They are few and far between though.
 
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this should not even be a discussion. under no circumstances should children be forced to sell their family business or house so they can pay an estate tax.
 
Chapdog said:
this should not even be a discussion. under no circumstances should children be forced to sell their family business or house so they can pay an estate tax.
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I agree with that, but it's utterly ludicrous to suggest that such individuals are the only ones subject to an estate tax.
 
Onceler said:
I agree with that, but it's utterly ludicrous to suggest that such individuals are the only ones subject to an estate tax.
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they are not but the tax in the state that it is hits some.. How is it we can have hundreds of pages of tax law that are so complicated that 90% of Americans need accountants to do it.. but then have some first grade math estate tax. They should write it in a way that people dont have to sell assets in these cases to pay the tax.
 
Chapdog said:
they are not but the tax in the state that it is hits some.. How is it we can have hundreds of pages of tax law that are so complicated that 90% of Americans need accountants to do it.. but then have some first grade math estate tax. They should write it in a way that people dont have to sell assets in these cases to pay the tax.
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I agree that the estate tax needs to be overhauled, and that the limits have to be adjusted. But by no means should it be eliminated.
 
Onceler said:
I agree to an extent that part of the reason people work so hard is to be able to pass something onto their kids, and that should be their right. The spirit of the estate tax is much more geared toward the Paris Hiltons of the world, and toward preventing what some of the founders warned as an aristocracy of inherited wealth.

I think it's a matter of where you set the limits & the amounts that can be taxed. I agree overall that on the estate tax & other taxes, there needs to be a change of mindset on what constitutes "wealthy", because it's a lot different now than it was 10-20 years ago.
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Yes, but that is exactly the intent of the estate tax, as you know. And that amount did have to be raised and democrats were going to do that, but the republicans took that off the table. It was the ruling elite in this country, exactly what the founders did not want, the Waltons the Coors, and many others, who purchased the elimination of that tax. You see, unlike your run of the mill Republican, the high-iq crowd like the Coors, know who that tax is going to affect. Most don’t understand what it would mean to have any obligarchy in this country, just how anti-american it really is, or how it would spell the true end of democracy. Most haven’t even read the words of our own founders. (i know that you understand it)

They just had to raise the amount of an estate that would be affected, that’s all. It was never meant to punish, it was always meant to keep a democratic system of government in place.
 
The federal estate tax exclusion is currently 2 million and going up to 3.5 million next year.

That is federal, some states also have an inheritance tax.
 
Onceler said:
I agree that the estate tax needs to be overhauled, and that the limits have to be adjusted. But by no means should it be eliminated.
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While I disagree with the concept of the estate tax, I would compromise. Make the minimum $20 million adjusted annually for inflation. Then you will avoid hitting the small business owners and be able to happily tax the Hiltons of the world. Well maybe not Hilton since her granddad decided to give the bulk of the family money to charity. :)
 
Superfreak said:
While I disagree with the concept of the estate tax, I would compromise. Make the minimum $20 million adjusted annually for inflation. Then you will avoid hitting the small business owners and be able to happily tax the Hiltons of the world. Well maybe not Hilton since her granddad decided to give the bulk of the family money to charity. :)
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I say this only half tounge in cheek that they might as well call the estate tax the keep accountants and lawyers employed act. People are going to do whatever they can to avoid having to pay this tax. For example, we've already seen Gates and Buffett donated most of their wealth to charity, which is tax free, and the government will not get any of their money.
 
I would suggest that some of our Republican super-patriots familiarize themselves with the writings of our founders, so they can gain some idea of what our country is actually supposed to be about. You can start with the Federalist papers, then the anti-federalist papers, but do not stop there. Go to the library of America and get the collected works volumnes of Jefferson and Madison, at the very least, to start yourselves off with.

I really can’t take you guys seriously. No shit. I just don’t. I know that the common narrative here is that I’m stupid and this is all over my head, and you “hi-iq” people know what you are talking about, but you should know how much that makes me laugh. I don’t take you guys seriously. You’re stupid to me. You’re below me on the intellectual table. Full disclosure. I know how that sounds, but that’s full disclosure.

I’ll go back to joking around, and I like you guys, but I just thought you should know that.
 
uscitizen said:
The federal estate tax exclusion is currently 2 million and going up to 3.5 million next year.

That is federal, some states also have an inheritance tax.
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This, of course, ignores that all of them expire in 2011 and it will return to the former levels which will actually be far more restrictive because inflation has made the cutoff levels worth still less than before. This will actually increase the number of people effected who are not Paris Hilton but we must repeat that it will at least effect Paris therefore we can't even mention that it would need to be fixed to work.
 
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