A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Estate tax repealed

Posted: Apr 24, 2015

So do all you conservatives think that repealing the estate tax was a great idea? How do you think this will affect the deficit? Who do you think is going to benefit from it? Will we cut back on more services to the poor to pay for it? Will we not fix our crumbling infrastructure because we have to give the already superwealthy more money?

;

The majority of the death tax does affect billionaries; - it affects small family farms,

[ In Reply To ..]
medium sized businesses. My daughter is married to a farmer whose grandfather passed down a fairly large amount of land. Some of it had to be sold just to pay the taxes.

The majority does affect billionaires, especially those.... - sm

[ In Reply To ..]
whose money accumulates from generation to generation solely from stock profits etc.

Small family farms in our state are protected agricultural land. I guess it depends on your definition of "a fairly large amount of land", as well as a lot of other factors.

Smithfield, Tyson, Swift, Hormel - Millions and Billions

[ In Reply To ..]
$7,943 average per acre in Iowa x 333 average acre per farm = $2.64 million average worth in Iowa. Yes, I think heirs could pay a little taxes for the privilege of inheriting what the government will now pay subsidies on.

Welfare queens?

Small family farms? Medium sized businesses? - LOL

[ In Reply To ..]
It sounds like somebody is believing the conservative rhetoric about the poor "small family farms" having to pay the "death tax." These "small family farms" are taking taxpayers' money in the form of government subsidies to the tunes of millions of dollars. These poor little farmers. LOL.

There is an exemption of $5.43 million this year for an individual estate, and married couples can get the benefit of two individual exemptions -- see Wall Street Journal link below. So in 2015, the total exemption per couple will be nearly $11 million. A family does not pay a dime in estate tax unless their estate is worth around $11 million or more. This translates into only about 3,700 estates, or 0.12% of the total, that will have to pay any federal estate taxes at all in 2015.

It tells you everything you need to know about the priority of conservatives when their first order of business is to build the Keystone XL pipeline and their second order of business is to vote to eliminate taxes on millionaires and billionaires.

Poor little rich subsidized family farmers and millionaires and billionaires with estates over $11 million. Conservatives got your back!

I would much rather see them repeal the gift tax - liberal

[ In Reply To ..]
it really grinds my gears that i could marry any old joe off of the street and give him money tax free but if I gave my mother the same amount I would be subjected to 40% tax for doing so.

Similar Messages:

Oct 08, 2010
http://thehill.com/house-polls/the-hill-anga-poll-week-1/122851-distaste-for-healthcare-law-crosses-party-lines ...

Jan 07, 2016
I heard they voted AGAIN to repeal it. What would they do if they actually could repeal it? 11.3 million without insurance would be pretty angry, I would think. Also, all the people that have been able to now get insurance even though they have a pre-existing condition would get kicked off or priced out? I have read that people are being diagnosed earlier with cancers and receiving treatment earlier because of ObamaCare. I have also read that young men who a ...

Dec 16, 2014
And I am one of them. My premium more than doubled and my coverage is not as good. Although I know that some people did need the protection this law apparently afforded them, those of us who did not need the govt's help with this issue should not be penalized for it - especially in this so-called free country. So either repeal it and start over or fix the areas in it that do not work. ...

Feb 08, 2014
Okay, so my MIL died 4 months ago and they did the reading of the will 2 months ago. The will stated that her grandaughter (who already lived in her house with her) got her house and land and my husband and his brother got all belongings inside of the house. Nothing was said about a certain date to pick up items or anything like that and really neither my husband nor his brother really took anything out of the house (other than a few pictures, jewelry and keepsake items) because thei ...

Dec 25, 2011
My mother, age 92, with dementia, just passed away. My estranged brother coerced her behind my back, to leave her retirement condo near me to move in with him. I am the executrix of her willl, and everything was to be divided equally between my brother and me. I just found out that he's taken most of her money and put it into a couple POD (pay on death) accounts in his name. She has a couple small accounts that amount to maybe $67k. The estate is wort ...

Aug 29, 2010
I am so dreading it. There are 4 of us siblings. I'm executor. Everyone is okay with having an auction, but first they want go to through everything. I just know after that, there won't be anything left to auction and I'll be stuck finding new homes for the rest. What I'd like to do is set a limit to everyone being allowed to have a random number of items, perhaps 10, that they would like to have. The rest if they want it bad enough could be bought at ...

Sep 23, 2016
65% on the wealthiest Americans, according to her latest tax plan. The Clinton campaign estimates that the increase would raise an addition $75 billion in revenue over the next decade. The current rate maxes out at 40 percent. But Hillary Clinton and her husband Bill have created a number of tax shelters in recent years to dramatically limit their payment of the very same tax. As Bloomberg reported back in 2014: “To reduce the tax pinch, the Clintons are using financial planning strate ...

Aug 07, 2017
A real estate technology company that aims to lower the cost of home-selling by using robots and “big data” instead of commission-based real estate agents has opened a Long Island office — its first outside of California. REX Real Estate Exchange, which charges a selling commission of 2 percent instead of the usual 5 percent to 6 percent. The Los Angeles-based company expects to start listing New York-area homes on its website, rexchange.com, later this week. Traditional real esta ...

May 21, 2011
This is HUGE. A young debt collector (and Obama voiter) doing skiptracing came across some VERY INTERESTING records, including the alias Harrison J. Bounel associated with a fraudulent SSN (042-68-4425) and evidence of multi-layered real estate fraud regarding the leased Chicago home at 5046 S. Greenwood Ave. ...