Bad news on the death tax

[A18]

The Senate is apparently considering a mere rate reduction to 15% with higher deductions and an increase in the cost basis.

The House version abolished it completely. Why can't a tax ever die? Damn filibuster.

[A18]

By the way, we're falling behind other nations in economic freedom. Australia and New Zealand repealed theirs. So have former communist nations Slovakia and Bulgaria. Sweden also killed it.

[I spent the winter writing songs about getting better]

Good. Paris Hilton doesn't need a tax break.

[A18]

Good. Paris Hilton doesn't need a tax break.

The rate right now is over 45%. The right after this will be 15%. So that is a tax brake.

Second, quit trying to tell parents everywhere what to do with the money they earned.

Third, the death tax is terrible for small business.

Basically, instead of curing cancer, we're going to eliminate some of it, and just wait around and hope it doesn't spread.

[TeePee4Prez]

Good. Paris Hilton doesn't need a tax break.

And neither do the Bush twins.

[opebo]

Third, the death tax is terrible for small business.

Actually it has no effect on small business.

[Alcon]

Is this the tax that affects, like, 2% of the population or something?

[Gabu]

Is this the tax that affects, like, 2% of the population or something?

Yes, also known as the estate tax.

[Richard]

Third, the death tax is terrible for small business.

Actually it has no effect on small business.

Once again showing your amazing dumbness and stupidity.  How do you think does a small business transfer from parent to son if half of the business goes to the government after death?  Please try not so be so dumb and stupid.  Not everyone incorporates.

[opebo]

Third, the death tax is terrible for small business.

Actually it has no effect on small business.

Once again showing your amazing dumbness and stupidity.  How do you think does a small business transfer from parent to son if half of the business goes to the government after death?  Please try not so be so dumb and stupid.  Not everyone incorporates.

Regardless of your lazy ad-hominem attacks, the fact remains that the inheritance tax has no effect on small business.  When the heir takes possession of his new property, he pays a percentage of the net value.  Let us say this is 50%.  So, he simply borrows to pay the tax, or the IRS takes it away from him and sells it to someone else.  In either case it has no effect on the operation of the business, and can certainly be easily planned for in advance of the death by these wealthy people.

[Richard]

Third, the death tax is terrible for small business.

Actually it has no effect on small business.

Once again showing your amazing dumbness and stupidity.  How do you think does a small business transfer from parent to son if half of the business goes to the government after death?  Please try not so be so dumb and stupid.  Not everyone incorporates.

Regardless of your lazy ad-hominem attacks, the fact remains that the inheritance tax has no effect on small business.  When the heir takes possession of his new property, he pays a percentage of the net value.  Let us say this is 50%.  So, he simply borrows to pay the tax, or the IRS takes it away from him and sells it to someone else.  In either case it has no effect on the operation of the business, and can certainly be easily planned for in advance of the death by these wealthy people.

LOL!!!!@111111111111111!!!!!!!!!!!!!!111111111111##21

[opebo]

You have again failed to make any arguments, Richius.

Why would anyone have a problem borrowing a percentage of net value of an income producing business?

[Richard]

You have again failed to make any arguments, Richius.

Why would anyone have a problem borrowing a percentage of net value of an income producing business?

I'm drunk.  I'll respond tomorrow.  Right nwo I'm noth int hte state of mind to reply.

[True Federalist (진정한 연방 주의자)]

Third, the death tax is terrible for small business.

Actually it has no effect on small business.

Once again showing your amazing dumbness and stupidity.  How do you think does a small business transfer from parent to son if half of the business goes to the government after death?  Please try not so be so dumb and stupid.  Not everyone incorporates.

Given the amount exempted from the estate tax in the first place, it's not going to affect small businesses.  Medium-sized businesses, but not small businesses. The exemption is on the first $1.5 million and scheduled to rise to $3.5 million within the next few years.  That's without even consdering various strategies to lower the tax liability that can be put in place.  The main reason so many small businesses close upon the death of the owner has nothing to do with the estate tax, but the loss of the intellectual capital that the owner brought to the business.