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Posted by: fishifanb 1 year, 1 month ago

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fishifanb1 year, 1 month ago

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Do you realize that the estate tax doesn't even kick in unless the taxable estate (after various deductions) exceeds $2,000,000 (set to increase to 3,500,000 in 2009)?

There are, in addition, all manner of methods for transfering one's wealth to your descendants prior to your death that completely avoid taxation. You can give up to $12,000/yr. ($24,000 if married) to as many people as you want without ever filing a return!!

Less than 1% of estates pay any tax at all, only the estates of the most wealthy and they, on average, pay less than 20%.

http://www.cbpp.org/pubs/estatetax.htm

28% capital gains taxes, OH NO!

I guess you are also not aware that the top rate is already at 25% and, as with estate taxes, is only paid by the most wealthy. All Obama has recommended is restoring this rate to the 28% is was before Bush got them reduced. Moreover it doesn't even apply to most home sales because the first $500,000 in gain is excluded from income when a couple sells their primary residence.

SOCIALISM!, Oh My! I thought red-baiting died in the McCarthy era.

You really need to quit your silly fear-mongering and get educated.

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