Sooo, WHEN the tax cuts get extended...

[Wild Cobra]

Magic Negro folded. Repugs get their extended tax breaks for everyone, and $Bs more in estate tax breaks for the superwealthy, just to get unemployment insurance extended 13 months.

MN doesn't have a chance in 2012.

Why do you want to tax the dead?

[DarrinS]

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.

Fail

[Wild Cobra]

Why should people be given tax-free money just because their parents died?

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.

Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a compe or, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

[angrydude]

I really don't get the republican obsession with giving rich people low taxes. Economically, it really doesn't make much of a difference to anything at all.

But you almost have to extend unemployment benefits just because of all the people it will affect.

Now, unless the govt. dramatically lowers spending somewhere else to pay for extending unemployment benefits this is a pretty big fail.

Too bad the republicans already shot their one bullet. tax breaks. now they will have no more ideas on how to fix the economy.

[Wild Cobra]

So when your parents die you think the government should get their house? Thats most peoples biggest asset.

Yes, I forgot the house. Add a $300k house... How much does the son have to pay to keep his rightful inheritance?

[Drachen]

Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a compe or, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

if these numbers are accurate, the only change I would make here is to tax it as income (i.e. at the income tax rate). Plus, the father and son could plan for this to minimize the effect.

[Crookshanks]

Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a compe or, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

And remember - that money was already taxed once when it was earned. So why should the government get to double tax the money? Who decided it was a good thing to have an estate tax? Another "let's get the evil rich people" scheme?

[Wild Cobra]

I really don't get the republican obsession with giving rich people low taxes.

Because as liberal as they may be, they aren't socialists, like you lib s.

Economically, it really doesn't make much of a difference to anything at all.

Yes, it makes a big difference.

But you almost have to extend unemployment benefits just because of all the people it will affect.

Why? Why make my children pay more for the people today? What about my children's tax burden?

Now, unless the govt. dramatically lowers spending somewhere else to pay for extending unemployment benefits this is a pretty big fail.

Spending is the key. the government is way too big.

What ever happened to tax rates will never exceed 10%?

Too bad the republicans already shot their one bullet. tax breaks. now they will have no more ideas on how to fix the economy.

How about making people actually look for work, checking on them, and requiring certain things to get a government hand-out, making people want to be contributors to the tax system instead of users of it?

[CosmicCowboy]

I really don't get the republican obsession with giving rich people low taxes.

GIVING them what?

We are already TAKING 35% of their income just in Federal Taxes. Add in State taxes, property taxes, etc. and you are at 50%.

When is enough enough?

I keep hearing that not raising their taxes 5% is "costing" 70 billion over ten years.

Why not just say that not raising their taxes to 100% is "costing" 770 billion over ten years?...

Whats the difference?

[Wild Cobra]

if these numbers are accurate, the only change I would make here is to tax it as income (i.e. at the income tax rate). Plus, the father and son could plan for this to minimize the effect.

I'm sorry, but I disagree. The tax for my example of $1,300,000 house and business would be $469,800.00 in taxes. The marginal rate at $1,250,000 is 43%.

Lower Limit 	Upper Limit 	Initial Taxation 	Further Taxation
$0.00	        $10,000.00	$0.00	18% of the amount
$10,000.00	$20,000.00	$1,800.00	20% of the excess over $10,000
$20,000.00	$40,000.00	$3,800.00	22% of the excess over $20,000
$40,000.00	$60,000.00	$8,200.00	24% of the excess over $40,000
$60,000.00	$80,000.00	$13,000.00	26% of the excess over $60,000
$80,000.00	$100,000.00	$18,200.00	28% of the excess over $80,000
$100,000.00	$150,000.00	$23,800.00	30% of the excess over $100,000
$150,000.00	$250,000.00	$38,800.00	32% of the excess over $150,000
$250,000.00	$500,000.00	$70,800.00	34% of the excess over $250,000
$500,000.00	$750,000.00	$155,800.00	37% of the excess over $500,000
$750,000.00	$1,000,000.00	$248,300.00	39% of the excess over $750,000
$1,000,000.00	$1,125,000.00	$345,800.00	41% of the excess over $1,000,000
$1,125,000.00	$1,500,000.00	$448,300.00	43% of the excess over $1,250,000
$1,500,000.00	$2,000,000.00	$555,800.00	45% of the excess over $1,500,000
$2,000,000.00	$2,500,000.00	$780,800.00	49% of the excess over $2,000,000
$2,500,000.00	$3,000,000.00	$1,025,800.00	53% of the excess over $2,500,000
$3,000,000.00	and over 	$1,290,800.00	55% of the excess over $3,000,000

Sec. 2001. Imposition and rate of tax

You really want to put a business and people out of work?

[Wild Cobra]

And remember - that money was already taxed once when it was earned. So why should the government get to double tax the money? Who decided it was a good thing to have an estate tax? Another "let's get the evil rich people" scheme?

Yep...

The lib s are duped into helping the elitists destroy our economy.

[spurster]

From the viewpoint of the rich, I guess the rich are not rich enough and the poor are not poor enough.

[Wild Cobra]

From the viewpoint of the rich, I guess the rich are not rich enough and the poor are not poor enough.

Why do you think the richh want the poor to get poorer rather than richer?

Why are you playing the class warfare card?

Don't you think the rich need more people with more money so they can get richer?

Wealth is never a zero sum game. We don't grow as much as we should, because we have people who are complacent to be poor, and don't strive for more.

Blame the poor for being poor. Not the rich.