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Estate tax repealed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?  

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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

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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

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$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

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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.

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