The Punning Pundit

I am not all that crazy about any tax, especially after payday or April 15th, I see all that money flying off. I am not sure how much of an impact this will really have. The uber-rich people already have lawyers that can find most any loophole as is, where as Joe Blow may actually now be able to use the tragedy of a death and improve his life. Maybe invest, start a business, or send their child to a better school.

I believe that people appreciate and value something more if they actually have to work for it. I think that most wealthy people realize that to, and will continue to donate to help make the world a better place. I am not sure if this will affect charitable giving as much as people may fear. But than, I do not personally know any rich people to base this on.

The repeal of the death tax is good. We need more people like Paris Hilton setting an example for our children.

I'm not surprised at all. The GOP is taking care of its backers. This tax break isn't going to create any new jobs, its just going to be brand new ferraris for a dying rich man's grandchildren.

Please, Please tell me that article was fully tongue in cheek!

This bill does very precious little for the rich, and is almost exclusively for the poor/under-privledged.

Yeah yeah, keep bitching about the rich brats. They're so horrible. The inherited all this money, without having to work. BEFORE THIS BILL! BEFORE BEFORE BEFORE BEFORE BEFORE BEFORE BEFORE BEFORE BEFORE.

Loud enough for you? Do you think it made one iota of difference to the money rich brats inherit? I'm sure they'll get a few extra million to go along with the billion they're already getting. Drops in the bucket.

Now, look at the poor. When Mommy dies, you don't lose the mobile home cause of taxes. When Daddy get's chewed up in the combine, you don't lose the farm you've worked on your whole life, due to taxes.

We're not talking about simple taxes on things like cash, oh no, we're talking about taxes on property, like land, and homes. Not taxing trust funds, but taxing the necessities of life out from under you.

What happens when the almost %50 Death tax on land hits a poor farming family. That's %50 of the value of the land due upon death, payable in cash only. Do you think farmers have that kind of money? No. What ends up happening is they have to sell 50% of thier farm, to pay for taxes leveled on them, and now have 1/2 a farm, and NO money. How's Paris fit anywhere near that abomination of government greed and larceny?

How about the family who spent 20 years paying off thier home, who have lived paycheck to paycheck most of thier lives? Think they get away with gobs of money? Nope, 50% due now, thank you, says Uncle Sam. And Sam, he doesn't care that if you sell the house, quickly enough to not incur penalties, you get less value, he only cares what it appraised at, and what's due him. Forget that people probably lived in the house. Even thought they might have owned the house, made things better for thier families in the long run. Nope.

It's not the rich who will benefit from this, but the tired, the miserable, the poor.

I'll grant any lessening in tax collection will cause the budget to be a bit screwy for a while. But there's not such a big hole, not in the long run. The money kept by people, will either help make them more productive, invested, or will be spent. The first means more tax revenue from income, and the last two mean taxing the money like it is now.

Which brings me to the point nobody wanted to touch about this... At least one of the 4-5 times you pay taxes on the same money is being abolished... Try inheriting some money, pay the death tax on it, and then try and do anything with it that won't get it taxed again.

Rand.

Rand,
The poor, dispossessed people who inherit more than US$3million? How are those events possibly coincident?