- Politics and Social Issues
THE DEATH TAX: A NATIONAL SHAME
:: TAX MESS: LIVE LONG: TOO EXPENSIVE TO DIE
The federal estate tax is set to be repealed for one year as of Jan. 1, 2010, meaning that those who suffer a timely death could escape the usual certainty of taxes.
:: ZERO AVENUE: DEATH TAX LIVES LONG!
The American Family Business Institute, an advocacy group that opposes the estate tax: By the time we reach the end of next year, we know we have to come with a compromise solution that is advantageous to the survival of family businesses.
The extremely controversial tax situation puzzle estate planners that are facing questions from their clients. The "death tax" became an issue among Republicans who labeled it the death tax and rallied around its repeal in the mid-1990s.
:: OUR DEATH TAX LIVES LONG...
The Tax cuts supporters want it eliminated altogether but it was proved too costly. In 2010 the tax will bring in an estimated $25 billion. At the beginning of the 2010, that tax is eliminated entirely, only to be restored in 2011 at a rate of 55 percent on estates.
Democrats argue that thousands of estates that would not have been subject to taxes under the current law could get hit in 2010 even as those at the higher end of inheritance scale escape the 45 percent tax bite. Republicans would like to negotiate a new tax structure, perhaps taxing eligible estates at the 15 percent capital gains rate. Democrats hope to restore the current tax and make it retroactive to Jan. 1.
:: HELP US KILL THE DEATH TAX: http://NoDeathTax.org/