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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (693411)	7/23/2005 8:38:17 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

"So what's your opinion of the death tax?" I am a firm believer in LOWER taxes, LOWER tax rates, and FEWER (vastly fewer) loopholes in those rates... and have a strong preference for either a SINGLE RATE, or else a compression of rates towards just a single rate. The highest principle should be: ALL INCOME GETS TAXED AT EXACTLY THE SAME RATE, REGARDLESS OF SOURCE. (No more having the government hobble the free market by favoring some, and disadvantaging others... trying to pick who will be the winners and who will be the losers in society.) As far as taxing dead people's estates, I'd rather lower the tax rates on INCOME then on estates (more beneficial to society: why shouldn't people work for a living?)... but I have no objection at all to the TAX RATE being exactly the same. (In accordance with my above principle of one rate for all income.) In practical terms, Congress is most likely to raise the threshold to a level which exempts the vast majority of all estates in a few years, to probably 4 or 5 million dollars for the individual... thus exempting 99%+ of all inheritances from this tax.