There should be no inheritance tax of any amount of money or assets.
The first 5 million dollars should be exempt. After that the tax rate should be 35%.
The first 5 million dollars should be exempt. After that the tax rate should be 50%.
The first 1 million should be exempt. After that the rate should be 50%.
No exempt amount. Tax at 35% from the get-go.
No exempt amount. Tax at 50% from the get-go.
Abolish all inheritance. In other words, tax 100%.
Last edited by haymarket; 02-06-12 at 10:13 PM.
There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers
Neither side in an argument can find the truth when both make an absolute claim on it.
Source: Estate tax in the United States - Wikipedia, the free encyclopediaAs shown, the 2001 tax act would have repealed the estate tax for one year (2010) and would then have readjusted it in 2011 to the year 2002 exemption level with a 2001 top rate. However, on December 17, 2010, Congress passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Section 301 of the 2010 Act reinstates the federal estate tax. The new law sets the exemption at $5 million per person. A top tax rate of 35 percent is provided for the years 2011 and 2012.
December 17, 2010Source: 111th United States Congress - Wikipedia, the free encyclopedia111th United States Congress
Duration: January 3, 2009 – January 3, 2011
Senate Majority: Democratic Party
House Majority: Democratic Party
Now, what were you saying?
I've been around for more years than you have and this isn't the only political forum on the internet.
Why did you ask if it was Obama? The Democrats had both houses of Congress and a Democrat named Obama as President. So why did you ask:
gee why do you think that is? what caused it to shrink? was it OBAMA?