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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (70372)6/9/2006 2:25:38 PM
From: Skywatcher  Respond to of 362689
 
ANOTHER SICK SELLOUT FOR THE RICH!
The estate tax is paid only by a handful of wealthy families—only three out of every 1,000 estates exceed the current $4 million threshold. The repeal drive has been spearheaded and financed by 18 billionaire families, including the Waltons of Wal-Mart, who have spent over $200 million lobbying to preserve and expand their colossal share of the national wealth. Among the 18 families are the Dorrances, owners of Campbell Soup, the Mars candy family and the Gallo wine family.

The estate tax was phased out over ten years under the $1.3 trillion tax-reduction package adopted in 2001, in which a half-dozen Senate Democrats played a key role in insuring passage of the plan pushed by the Bush White House. In order to make the tax cut for the wealthy as large as possible, the legislation provided for phase-out of the estate tax by 2010, followed by its complete restoration in 2011.

This bizarre arrangement was necessary to satisfy budget constraints, which were based on calculating the ten-year cost of the tax break. The administration always intended to eliminate the 2011 restoration in subsequent years and make the tax cut permanent, but this has become more difficult with the skyrocketing federal budget deficit.



To: Travis_Bickle who wrote (70372)6/9/2006 2:26:18 PM
From: Skywatcher  Read Replies (1) | Respond to of 362689
 
Then YOU PAY THE TAX...the publican clowns are continuing to put this country INTO THE POOR HOUSE after the great surplus of Clinton and HIS RESTRAINED BUDGET



To: Travis_Bickle who wrote (70372)6/10/2006 3:33:24 PM
From: cirrus  Respond to of 362689
 
Of course not. I am glad they managed to keep their land.

However, for most taxpayers hit by it, the estate tax is more an annoyance than a financial hardship. For this family to to go on and on about the hardship imposed on them by the estate tax - and then admit, "Yeah, it could have been avoided if...".

The problem is not the tax, it's the lack of preparation by their parents.


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