Should an increase in estate/inheritance tax be included in a "fiscal cliff" deal?
money? you must mean U.S. currency. backed by the full faith and credit of our United States government. you think that kind of security is free?
Yes, veritas, if we cut spending to year 2000 levels, we'd have chaos. How thick can you be?
Let's look to history. Let's look at examples of massive cuts in spending. The last real one was in 1946. Government spending was cut in half. We then had the greatest private sector growth in our history.
Better idea: NO tax on existence (income) ;)
I'm in the south and I love FREEDOM! :)
Greedy & Envious
Sorry, but the money my relatives worked their asses off to save for future generations and already paid taxes on, should NOT be taxed at all! They lived frugally, saved for their children and the government is going to stand there with their hand open?? BS.
@liberaltarian- not exactly. This is the problem with party 'affiliation' in general, and also why many of the founding fathers were *against* political parties.
I view myself a true independent, but with very obvious 'Libertarian' sympathy. Possibly 'Republican' in its original meaning. NON GOP
Veritas ... you are SO funny! With passion you argue that we can't cut spending, yet with the same passion you ignorantly think we can raise rates and magically avoid impacting the economy.
You can't have it both ways. This is exactly why the Dems can't handle the economy. It's not a candy store!
Who in their right mind would think this is a good idea or that an inheritance should be taxed at all !
Jonny, it'll stop when progressives stop lying about the regressive and punitive tax scheme is replaced.
Something tells me you don't mind MrO lying when he talks about the in"fair share", right?
It's time to hold politicians accountable with a flat tax ... the truly fair tax!
Why? So you feel good about stealing?
Why should that already taxed $ be taxed again?
@Spock. That is mathematically impossible with entirely eliminating all defense spending and entitlements. You would have to cut $11 trillion ok spending over the next decade, not to mention the interest on the debt.
I'm fine with huge inheritance taxes if you're passing along very large amounts of money (100s of millions or more). But, in my opinion, the first 50 million or so should be tax free. Tax the next hundred million at a moderate rate, and every hundred million above that a little higher.
How many times does it have to be pointed out that all money is taxed numerous amounts of time, before people stop using this argument against death/inheritance taxes?
January 1st, if you die in Oregon, you will pay 72% taxes between fed and state.
I don't mind paying my share but that is ridiculous.
Why would you want to steal a family's money? Because they worked hard and invested smart?
As an independent we always say the Dems just tax and spend, by what I see in the results it's true. So sick
All that money's already been taxed. Double taxation is unethical.
Haha yep! The government will take money from you every year you don't have health insurance.
Wow. I can think of nothing more horrific than a dying father passing his life's work on to his daughter.
If we had a $16,000,000,000,000 reserve instead of debt we could live off the interest and greatly reduce the tax burden.
Greedy and envious people always want to take what others earned.
I completely agree, if I spend my whole life working my kids should at least benefit. Besides I already paid the taxes on my belongings while alive .
You know the government is too big and corrupt when they tax you for dying.
Despite the majority, they'll probably try to do it anyway..
No, this money and/or items have already been taxed. When the greedy government can fix its spending problem then we can look at increased revenues. Of course, if we cut spending, entitlements, and wasted programs, we wouldn't need more taxes.
Fun fact: Vermont is the state with the lowest total amount of debt in the country. By the numbers it looks like we're doin' pretty good up here! My quality of life is great so if taxes keep it that way then bring it on.
Estate and inheritance taxes are the most offensive of all taxes. Please write your Congressmen and women and tell them so.
@mrspock: so you're a libertarian?
You can cut spending. It is common sense in its purest form.
CUT DEFENSE and ENTITLEMENTS.
Empower citizens to take care of their needy. Get the military out *130* countries.
Why is everyone so afraid of freedom? Humans have fought for it for thousands of years, but always gradually give it back
No, especially not inheritance - you rob a grieving person, that's disgusting and this tax needs to go completely.
And for clarity, I'm in no possible way GOP, nor a 'right-winger.'
I believe the modern US left mostly has social policy right, but is pitiful in terms of fiscal responsibility. The GOP has it *completely* backwards. Fiscally irresponsible AND lack of regard for individual liberty. Both are DREADFUL
The problem is there's no spending cuts on the table just tax increase. We should cut spending three dollars for every one dollar we increased taxes.
There should be no income tax at all, Veritas...it was never intended. The system was set up to pay for expenditures with various state, local, and federal consumption/use taxes.
Income taxes come from mostly illegal war, and failure to recognize that individuals can help the needy more efficiently
Most of the south loves fascism.
so is taxing money that has already been taxed, veritas. come on...you have to admit - the logic in that is pretty circular.
You cannot just cut spending. That is idiocy in its purest form. That idea is so completely absurd it is truly sad there are people who give it credence.
Cutting government spending by over 41% is ludicrous. A sure fire way to plunge the economy into the worst depression it's ever seen.
I doubt 5 votes can be considered representative of the whole state. Offer to tax the maple syrup industry to sift out my Vermonters.
No. We all know that taxing people with the large debt we have will not amount to a drop in the bucket.
The ONLY way to solve the debt problem is to cut spending. The only question is by how much over how long.
@Champ. That doesn't matter. You lose revenue by abolishing the tax. Whether or not the money has been previously taxed is irrelevant.
And we do have a trillion dollar deficit. Cutting revenue is inane.
That is false Sali. Obamacare will ensure that everyone has healthcare. If businesses offer healthcare for their employees, their will be no need for government offered healthcare. Please take your FOX, HERITAGE FOUNDATION argument somewhere else.
The point is, inheritance is new money to the person receiving it. IE - Paris Hilton will not only get the benefit of her parents name and a head start in life because of their money, she will also get millions of dollars tax free, all for a contribution of nothing. How can you think that's fair!
Instead we live in a land where a liberal can get elected and if they don't do a good job we can elect someone else in 4 years. You two need to shut the hell up and enjoy America. And guess what? If you don't like it you have the power to make a difference.
So that's why they put up with civilians.
I almost forgot how Vermont kept voting differently...
Low estate taxes encourage people to keep their wealth in the states. If the government is going to steal half my assets when I pass them on, they sure won't be passed on here.
Vermont sure loves socialism.
No, that's awful. You're already dealing with a death in the family and most estates come with mortgages that need to be paid as well. The taxes are too high as it is.