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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (90100)10/15/2008 11:05:22 AM
From: DewDiligence_on_SI  Read Replies (2) | Respond to of 541945
 
Re: Death tax

>The portability will be nice though under the current system I would draft the necessary trusts to maximize tax benefits for $400, it takes me about an hour, the reason it is very expensive for some couples is that they are getting ripped off.<

One can also retain the double exemption of a married couple via renunciation, although this has some practical issues as you undoubtedly know.

The 45% tax rate the Obama campaign is talking about is barely an improvement over the pre-Bush rate of 55%, and it could even be worse if state levies end up being incremental to the federal take in some states. This alone is a reason to not vote for Obama as far as I’m concerned. Regards, Dew



To: Travis_Bickle who wrote (90100)10/15/2008 12:20:22 PM
From: Sam  Respond to of 541945
 
I've always figured it would be settled at $5m but with dems controlling both branches it looks like it will be $3.5m.

But there will plenty of examptions for farms, small businesses, and possibly the value of residences. And, I suspect, some sort of COLA adjustment, so that inflationary increases in estates don't get taxed.


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