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Hello Rosie:
The "death tax", as Trump calls it, ONLY effects families worth $10 MILLION or more. As a card carrying lib, I don't think that tax should be repealed..
excon
Repeal the estate tax?! To the contrary, we should increase it.
Every single thing that Trump proposed is relief for the wealthy. That includes the tax break for child care. The average middle class and lower income Americans will not benefit from this at all. In fact nothing more than a re-hash, of the tired, failed policy of "Trickle down" economics.
It's all a red herring and Trump is only serving his and his peers self interest.
With the top 10% having more wealthy than the remaining 90%, we have got to stop this madness.
I respect contrary political ideologies, but Trump represent the worst of everything including the entitlement of the rich. If support someone supports him, they are a fool and a sucker, or a member of the top 10%
This is how he relates to the only people who back him. The ones who care about their money and believe he does as well. The Filthy Rich. Their priorities are the same as his. Keep what you got and make more with no thought for tomorrow or GOD FORBID, anyone else who's necks you stepped on to obtain said wealth.
My parents are well off, there's no denying it, but they're not worth 10 million or more, so I guess I don't have to worry?
The "death tax" is one of the paradigm examples of the power of linguistic framing.
If one surveys Americans and ask them if they support an estate tax while giving details (esp. the $5 million exception) about its structure, the majority of respondents support such a tax.
If one surveys Americans and ask them if they support the "death tax", a majority of them oppose it.
That being said, I actually support the repeal of the estate tax in its current form. From what I've read/heard, it is basically a tax on STUPID rich people. SMART rich people have all sorts of legal devices they use to evade or minimize their estate tax exposure. Instead, I think we should have taxes (e.g. capital gains and direct wealth taxes) which accomplish the same thing but are more difficult to avoid.
In affect he's saying, 'Lets protect the rich and screw the small business owners', once again showing how out of touch he is.
Me too neither excon. But you already know that! Thank yo u for your reply! :)
So can you answer me this m'dear? Why in the he** are so many blue collar workers adoring him and supporting him and clinging to him? There is nothing rational about it. Thank you for your reply GJ and Happy Tuesday! :)
I think the idea is popular because it's a distasteful tax. When you die the government will take from your family. Rich or not, that is distasteful. That is not a good thing to do. I could not be in charge of doing that job and feel ok about myself.
I understand the idea behind it and agree with it to a point but the other issue is that for this tax to have effect it means the person dying did not plan very well because it is easy to avoid. There must be a better way to accomplish the goal. This way doesn't work and it's very immoral.
I don't think so. If that's all he had going for him he wouldda been bounced long ago. He has the UNEDUCATED WHITES and BLUE COLLAR WORKERS! They believe he cares about them and relates to them and will do right by them. He has never done right by anyone but himself . But they don't mind his pathetic tracks. Why that is I don't
have a clue. Do you? Thank you for your reply Sharonna! :)
Right you are m'dear!
! Thank you for your reply Nevan! :)
Mahalo for your reply OS. :)
Precisely. But his blue collar and white uneducated supporters sincerely believe he will do right by them. Why that is
I do not know Thank you for your reply BSurf.
The President does not have the power to either repeal a tax as Mr. Trump says he will with the estate tax if elected or to raise it as Mrs. Clinton claims to be going to do should she attain that office. Tax legislation is legally supposed to originate in the Congress, specifically the House. The only thing that the President can really do is give legislation a "thumbs down" when it's presented to the Oval Office.
But as the laws currently stand it's a non issue anyhow. It currently only stands as a punishment for those hard-working and fortunate enough to accumulate that level of personal wealth (a bit over $5-million for individuals, a snitch over $10-million for couples) that have refused to pay homage to the High Priests of Bureaucracy, the tax lawyers and accounts that read those legislative tea leaves (generally those that were Congressional aides when the legislation was written and that have moved on to the private sector to reap the rewards of their hard "work").
The uber-wealthy will never be subjected to that particular tax in a meaningful way due to the loopholes built into the tax code for them. (The Clinton's, Buffett, Gates, Trump, and a lot of others.) If you want to punish those people for their hard work you would probably need to go after that "charitable trust" thing. That seems to be one of their most popular instruments of choice used to shelter their wealth. Trouble with doing that though is that those charitable trusts are a lot more efficient in doing good with that money that the Federal government would ever hope to be.
Now it is the top 10%? What number do we stop at before we decide someone is bad for having money? Top 10% might include me because I work hard. I live in an expensive state with many taxes, which I pay, and I use services sparingly and I give to charity and I've voted democrat since I could vote. What have I done wrong? Should my family be taxed when I die for not other reason than I have died? So take from me to spend on wars? I am not the enemy.
I am a card-carrying dem but could you go to a family of someone who has died, and say that you will collect tax from them simply because their family member has died? I could not do that. They have not gained for you to tax them, they have just lost what none of us want to lose.
I understand the reason for it but there has to be a better way to achieve that goal.
Because they are bamboozled by the promises of security (like banning muslims), the idea that they will become rich (like Trump), that the think he is honest (despite the lies , flip-flops, and back pedaling), they are star struck by his celebrity status, They are sick of the establishment...among several others
Sorry..I disagree. Taxes are necessary evil.
I worked hard too, that doesn't put me in the upper tier.
TBH...I think the magic number is $200K per year for income.
If you're worried about wyour money going for wars, then you should vote responsibility for politicians who will ensure that your tax dollars go to more responsible endeavors like infrastructure, public education, medical care, housing, etc...
I'm not the enemy either and neither are the persons who are lower income. Do you believe that the wealthy are paying their share of taxes?
@ITPro -- You think it's a "distasteful tax" because you have bought the linguisting framing the very wealthy wish you to adopt.
Let me use a personal example: My mother is reasonably well-off, and when she passes on, I will probably share a reasonable inheritance with my siblings. But that is NOT OUR MONEY. We DON'T own it as family. It is my mother's money and if it transfers to her descendants, THEN it becomes our money. WE are not being taxed, the transfer of the money between her and us is being taxed (actually, it won't be because it will be WAY below the statuatory limits, another aspect people conveniently ignore).
And if you find taxation of monetary transfers "distasteful", then you should be against the income tax (you traded $10 of labor for $10 cash) and the sales tax (you traded $5 cash for a $5 hamburger) and so forth.
Unless you're a really radical anti-tax zealot, that's probably not true.
If you take it down to the top 10% then yes, the "wealthy" are paying much more than their share.
I read on wiki that top 10% is about $118,000. That is not much money after taxes to live in ok house where I can get to work in under 1 hour commute. I know some places that is a lot of money but the people earning well usually don't live those places to see the benefits.
That is the problem with a percentage. 1/10 people out there on the street is not the enemy.
Vote responsibly is a joke now, we can vote for a crazy person or a criminal liar warmonger.
We shouldn't be trying to take from each other and setting percentages where we decide who is rich enough that we can take from them without pausing to consider the morality.
Spend responsibly and tax fairly, that is all that is needed. Otherwise we will continue to move the percentage and divide people based on nothing. I am sure people live better in some areas on 40k that I do on a top 10% income.
So because I am not one of the people getting the shaft, I should be ok with the government giving people the shaft???
Nope, I don't have an estate and given the exorbitant taxes on them, probably never will.
I don't think there should be an estate tax. Is it not good enough to rob us while we're alive, must they doubled dip once we're dead???
