Kill the death tax, before it kills you


#1

If Hillary Clinton wins the election, a lot of bad things will happen on taxes, not least of which is a big hike in the death tax. Hillary wants to apply the death tax to smaller estates and raise the tax rate to 45%, which means that when you count the state estate taxes, the government will take more than half of many ranches, farms, and businesses. Apparently, this will ring the bell for tax fairness.
It gets worse. The Obama administration doesn’t even want to wait for the election in November. The Wall Street Journal reports this week that Obama is seeking a “stealth death tax increase” by using its executive authority to change the death tax rules. As theJournal explains:

Hillary and Obama Want to Make Dying Even More Expensive | The American Spectator

This move would wipe most people out and destroy businesses as well as families.


#2

The rise in power and control of our govt over the last 8 years will be unabated under Hillary. We are very close to an all out dictatorship. FYI folks, there are about 45 dictators across the world, most of them have the title of PRESIDENT! Think on that. Most of them have been elected. Hitler was elected! The difference between an elected dictatorship and a non-elected one…under the non-elected one you don’t have to stand in those stupid lines to vote…


#3

While I’m sure many will object to the new tax, can anyone really state that they didn’t see it coming? Obamacare was a new social program & we have to pay for that. The democrats increased spending & we have to pay for that. Oh & don’t forget that shovel ready “thing” that was to get our economy going, we have to pay for that too. Take from those that produce & give to those that don’t, while keeping those that don’t firmly in place with a program designed for them not to get off of it. Socialism at it’s best (or worse depending on how you look at it). We need Reagan back to fix this mess but he’s not available. The dems want to increase taxes to hurt our businesses even more.
.
I feel that some here are right in that this is the LAST election for our country. No we will still have elections in the future but they won’t matter because we will be trapped in a social program/tax cycle that no matter who gets in they can’t fix. Do I sound like an alarmist nutter? Probably I do to a lot of people. But everyone should ask themselves at what point do taxes get so high that people don’t have enough money left to stimulate the economy? How much more can you pay in taxes before you start defaulting on bills? How about those people you know? The way people live now days it’s payday to payday & a 5% tax increase hurts, but a 10% just might put them under. Think about what would happen here if 10% of the working people declare bankruptcy.


#4

We’ve lost much of the opportunity to roll this back; and of the rest, we have been betrayed by the Entrenched Political Class.

Stopping it now is going to take the kinds of actions and work most people do not want to do or even think about. I mean, of course, Article V and State Secession - or at the very least, serious, credible moves towards State Secession.

Nothing else will stop it. The Left is on the move - even as their fantasy utopia comes apart, they’re burrowing their tentacles in their pre-revolution world.

The excrement’s gettin’ real. Either we stop it or they bring everything down - and what they plan to replace it with, leads to starvation, anarchy, and probably conquest by an adventurous foreign power.


#5

The U.S. Department of Agriculture estimates that with the exemptions, only 0.6 percent of farms would have to pay an estate tax. (Another 2.1 percent would file returns but would owe no taxes.) The nonpartisan Tax Policy Center estimates that only 120 farms and small business, where at least half the assets are in farm or business assets, had to pay the estate tax in 2013.

> *Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to TPC. TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million. Furthermore, TPC estimates those roughly 20 estates owed just 4.9 percent of their value in tax, on average.[10]

> These findings are consistent with a 2005 Congressional Budget Office (CBO) study finding that of the few farm and family business estates that would owe any estate tax under the rules scheduled for 2009, the overwhelming majority would have sufficient liquid assets (such as bank accounts, stocks, bonds, and insurance) in the estate to pay the tax without having to touch the farm or business.[11] The current estate tax rules are even more generous.

> Furthermore, special estate tax provisions — such as the option to spread payments over a 15-year period and at low interest rates — allow the few taxable estates that would face any liquidity constraints to pay the tax without selling off any farm assets.*

In 2013 only 660 decedents nationally reported owning any farm property, though 100 of those decedents have estates valued at $20,000,000 or more had an average of $5,675,730 in farm property, i.e. farm estates owned by the super wealthy.

in 2013 only 1 farm had to be sold to pay the tax, though several others had to sell off some land to pay their taxes.

55% of estate taxes were on unrealized capital gains.

[ATTACH]2816[/ATTACH]


#6

Know how to tell when a government spokesman is lying?

Watch his lips. REAL closely.

If they move, he lies.


#7

Anyone who takes the statistics that the Federal Government reports these days at face value is naive. Government employees have become totally self serving.

I remember the unemployment numbers the Labor Department reported in the fall for 2012 during the presidential campaign. They cooked the books to make Obama look better.

Just look at how the FBI and the Justice Department are handling Hillary’s criminal activity.


#8

I’m not nieve, but it wouldn’t be all that difficult to refute the numbers given by the Dept. of Agriculture.

Does the Dept of Agriculture have a history of lying, if so, present the evidence?
Is there credible evidence that the report it’s made here is wrong? If so, link it.
Are you aware of a government conspiracy to misreport these numbers? Convince me.

I think it’s equally nieve to assume that everything produced by a government agency is a lie, however, I agree that Government figures should be independently verified.

The question is, do you believe the source given in Sam’s opening post? What makes a site like The American Spectator more credible than the Dept of Agriculture? One is open to public scrutiny, the other is not.