I get my info from having to pay tax on a lousy $50K inheritance.

Not to be insensitive, but how much free money did you get? That inheritance is income, and income is to be taxed. If I had a choice of you paying tax on free income or me having my taxes raised. I'm going to be a just as greedy as you and want you to pay from money you didn't put hard work into. It's either you paying for free money or me paying from my pay check.

If you don't like paying for Government services, then elect someone who will cut the services. Until then someone is going to have pay for those CIA spy satellites.

I remember a time when the Republicans demanded a balanced budget (they earned my respect on that point). Well you’re in power now, now let’s put your money where your mouth is. I have no problem cutting taxes during a depression or after all the bills are covered. Neither of which is happening right now.

That's My Two Cents

drmiler I do not know what tax you paid but it was not the Fedarel Estate Tax the subject of this Blog. Two years ago I settled my Mother's estate and there was NO FEDERAL ESTATE TAX

Please do NOT tell me what I paid and what I did not pay! I got the same answer from the IRS AND a CPA. And that being this was an estate tax.

Call the damn tax what it really is "death TAX" Only in a liberl state of mind is it ok to tax someone for dieing.!!!! and speaking of drmiler not answering your questions, YOU are a master at ignoring any question that might shed some light on how you really think, you liberal in republicans clothing.!!!!!!!!!

I don't understand your thought processes here. We were taxed when my grandparents died, the gov took 33% of the money they worked hard to earn and had paid taxes on already. The inheritance was supposed to be a gift to their children and to pay for their final expences, not to give the gov more money.

Is my boss going to give me more money just because I can't figure out how to spend my money wisely? I don't think so. My boss would tell me to deal with it and learn how to butget my money so that I can pay for what I want. The Goverment works for us, we are their employers, if we didn't pay them, they wouldn't have money to spend now would they, then (they say) our economy would go to hell, well then they had better learn how to spend the money they are given wisely, maybe, all those Senitors and Reps don't need a pay raise whenever they want, and since when did the employee become more important the the employer?

Okay COL that's two of us who have called your bluff! And I don't know about msladydeath but I've got documents to back me up!

Even according to the Col's standards, how many small farms/businesses amounting to $3 million in total value have 50% of the value laying around to pay the estate tax with? How many $3 million dollar business are flush enough to have $1.5 million just laying around?

As I said before, just because you own a business or a hereditary farm, etc., it doesnt' mean you a wealthy. It's one thing to pay a reasonable amount of property tax, as we do every year, but under the system the Col describes you basically have to buy back the estate from the government at a 50% off sale. Why should we buy from them what they never owned?

COL GENE..........YOUR A SOCIALIST

The Federal Estate Tax is a progressive tax which begins at 37% and escalates to a top bracket of 55% at the $3,000,000 level.
-Taken from USALaw.com

Okay, let's see if I can get this straight... If I die, and the value of my estate is $3,000,000, and I left it all to my son "Bob," he would have to pay $1,650,000 in estate taxes. Something's not right here.

drmiler

You could have paid an estate tax from the state you live in but not Federal Estate tax. Unless the estate was over 1.5 Million there was no federal Estate Tax!

Baker Street

I said that the Estate Law could be changed to defer ALL estate taxes if the Business or Farm passes to a family member. That mesans there is NO tax until the Farm or Business is sold to a non-family member. The current exemption works like this for all other estates:

The gross estate is reduced by the exemption which is 1.5 milliion ( 3.0 for a couple) and the tax which starts at 37% and goes to 55% is applied to the amount ABOVE the exemption. Thus in an estate of 6 million, 3 million is the exempted (assuming mother and father) and you pay on the remaining 3 million . The total tax on the 6 million estate would be less then 1.5 million. By 2009, the exemptyin jumps to 3.5 million per person or 7 million for two.


Why have any taxes- Income , sales estate. To pay for the things that make our society possible. At the current time all that tax revenue is only paying for 75% of the cost of these items. That can not continue!

We did not have to face trillions of debt from our parents and we should not pass that debt to our children!

This statement was made on a diffrent thread, but it has relavents here.

If those who built up the national debt and earned the services provided making it and do not pay for all those service during their life time. Why is it wrong for the Government to get the money back for services provided up on their death when the person no longer needs it?