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Discussion » Statements » Rosie's Corner » So we're told the Republican tax reform will eliminate Estate taxes/lower corporate rates all of which benefits the middle class most. HOW?

So we're told the Republican tax reform will eliminate Estate taxes/lower corporate rates all of which benefits the middle class most. HOW?

Posted - October 18, 2017

Responses


  • 32527
    This has been explained many times.
    Lower taxes creates/keeps jobs. 

    Elimination of the Estate tax (Death tax) saves small business from having to sell assets to pay the when the original owner dies.
    Keeping jobs...perhaps even creating jobs to replace the owners responsiblites. This post was edited by my2cents at October 19, 2017 2:59 AM MDT
      October 18, 2017 11:38 AM MDT
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  • 7280
    I guess if people hear that enough, they may come to believe it.

    Demand creates/ keeps jobs.

    Lower taxes reduce the costs of business---it can affect jobs but it could simply allow increased production and income for the company without requiring any additional employees. 

    As for the effect of the elimination of the estate tax, As of the end of 2016, there were a record 10.8 million millionaires nationwide. 

    And, for 2017, the estate and gift tax exemption is $5.49 million per individual, up from $5.45 million in 2016. That means an individual can leave $5.49 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield just shy of $11 million ($10.98 million) from federal estate and gift taxes. 

    I am so sure that the typical "Mom & Pop" small business owners eagerly anticipate the repeal of the estate tax, because they can have more than the currently available almost $11,000,000 exemption that is no doubt potentially so burdensome to them should they die this year. This post was edited by tom jackson at October 19, 2017 3:01 AM MDT
      October 18, 2017 1:45 PM MDT
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  • 113301
    :):):)
      October 19, 2017 3:02 AM MDT
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  • 32527
    Sure demand does create/keep jobs. 
    Our tax code/regulations/trade deals send those jobs to other countries.  My families jobs went to Mexico after NAFTA...demand remained and even surged.  (They were the only company making a product required for the newest Nintendo at the time. Of course that was not the only product they had) But taxes, labor and regulations all cheaper there so that is where the jobs went. My home town went from having about 10 good paying factories to having 2 and now is almost a ghost town.  Because of factories leaving....not going out of business but leaving the country....so don't tell me about demand keeping jobs that is BS. 
    The harder you make it on a business they will eventually find a way to get out from under the taxes, regulations etc. 

    I am a small business. Back in the first few years we had a fire...no insurance.  And after adding it up we had over $250,000 loss and we were not much more than a start up. When you go adding up assets in a business if it is a successful one that much is not hard to get to. But it is not a matter of money. It is a matter of equipment to do your job properly. 
    Equipment/land/property that was bought with money that was already been taxed it is ridiculous that the government would think they should tax it again....just stupid greed. And I don't care what the limit is, it is double taxation.

      October 19, 2017 9:06 AM MDT
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  • 113301
     Explaining something to suit your goal of fooling people doesn't cut it with me m2c. It's gibberish.  It may work on paper or theoretically but practically? I don't think so. Thank you for your reply. It is the Republican view. Always has been. Always will be. Doesn't make it true.
      October 19, 2017 3:01 AM MDT
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  • 32527
    Was JFK a Republican? It was his view as well...and why he cut everyone's  (even those evil rich people's) taxes. Saying it would result in 5% economy growth....he got the cuts and he also got the 5% growth. Kennedy must have be a closet Republican.
      October 19, 2017 8:43 AM MDT
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