I was reading an article this morning about a Houston billionaire who died this year and because congress hadn't updated the death tax and gave everyone a free pass for 2010 - his family won't have to pay HALF of his estate in taxes.
Good for them, obviously - but the rest of it just infuriates me.... what right does the damn government have to take HALF of a person estate just because they die?
Reeks of grave-robbing to me. Guess I really will start putting our money in coffee cans in the yard. Grrrrr
Asked by Anonymous at 12:49 PM on Jun. 9, 2010 in Politics & Current Events
Answer by Anonymous at 12:53 PM on Jun. 9, 2010
Answer by Anonymous at 12:58 PM on Jun. 9, 2010
Answer by Anonymous at 1:01 PM on Jun. 9, 2010
Answer by Anonymous at 1:04 PM on Jun. 9, 2010
They have to do something to take care of all the deadbeats.
Answer by mustbeGRACE at 1:07 PM on Jun. 9, 2010
The money was already taxed when it was earned. That is what income tax is, you also get taxed on royalties and investment interest. Taxing it again when someone dies is ludicrous.
At 50% tax, our family farm would have to be sold to pay the taxes. If we sell, most likely it will be sold to developers, since it's mostly mountainous and only a portion is actually farmable. Say goodbye to open spaces and untouched forests, say hello to McMansions.
Answer by mancosmomma at 1:15 PM on Jun. 9, 2010
Government wants the rich peoples money even after they are dead. Government debt this year 12 trillion, next year 14 trillion. Reason , over spending. 60 years ago government spending was 25% of the economy, today 44%.
Income tax revanues down, only the top 47% pay taxes. 60% at the bottom now getting more back then they pay in.
How long before we start having trouble like Greece, not long.
Answer by Natesmom507 at 1:25 PM on Jun. 9, 2010
They just announced, government over spending the debt will now be 19 trillion by 2015.
Afraid we are all going to feel the pain if we don't get some people in office to stop all this overspending..
Answer by Natesmom507 at 1:31 PM on Jun. 9, 2010
Answer by urkiddingright at 2:06 PM on Jun. 9, 2010
Answer by Anonymous at 2:29 PM on Jun. 9, 2010