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REPEAL DEATH TAX


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I FIGURE NO MATTER WHAT SIDE OF THE ROW YOU SIT ON, PEOPLE MIGHT WANT TO HAVE A SAY ON THIS.

 

 

IF YOU DON'T WANT YOUR FAMILY TO LOSE 1/2 OF WHATEVER YOU MIGHT HAVE TO LEAVE, THEN GO TO "CITIZENS AGAINST GOVERNMENT WASTE" AND MAKE YOUR VOICE HEARD..I FIGURE WE CAN ALLOCATE THAT BETTER THAN THEM... beer.gif MAKE YOUR VOICE HEARD

 

 

EVERYONE HAVE A GOOD HOLIDAY cloud9.gifgleam.gif

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Guest lwisman

Posted

I do have an opinion about this. I do not think it should be repealed.

 

If your estate is under a specific amount. I think it is now 1 million dollars, and it is scheduled to rise, you pay nothing. A very small percentage of people die in this country with estates worth more than a million dollars. Inheritors are taxed on the amount above this. It is not near 50%.

 

The estate tax generates a lot of money, but it is from people who can well afford to pay it. It is interesting that there are a number of wealthy people (for example, Bill Gates Jr, the billionaires father) who have stated publicly that the estate tax should not be repealed.

 

It is a hardship for a very few. The amount could be raised, or laws written to help those who have a hardship, for example losing a business. I would repeat that this happens to very few people.

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I totally agree, Lin. They call it the Paris Hilton tax break because if they repeal the death tax, it will only effects about 2% of the people in this country who have incomes large enough to be affected by it.

 

Jean

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IT WILL BE THE CAUSE OF OUR KIDS LOSING A ALMOST THREE GENERATION SMALL BUSINESS SO IT EFFECTS MORE BUSINESS OWNERS THAN YOU THINK head_hurts.gif SMALL BUSINESSES EMPLOY ALOT OF AMERICA- THEN WHERE WILL WE BE?

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Guest lwisman

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I second Jean's suggestion of an estate planning lawyer. The will can be written to allow some assets to skip a generation without paying inheritance tax. Also ask about setting up a trust.

 

There are ways around paying so much tax. The key is planning ahead of time.

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we do what we can do but when your real estate does what's going on now, you can only do so much. We have a few acreas to manuever trucks in our parking lot and storage area for warehousing. We're having lawyers work on this presently. It's rather ironic that you can employ 40 something people but its you that has to take a non pay week sometimes to be able to pay the taxes and insurance and diesel and the miliion other things that "permit" you to stay afloat to keep others going too. I love if people hear you own a business they assume you don't have to work. I think we've had 4 vacations in 20 years and that includes our honeymoon. uhm.gif

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