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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 07:17 PM
Original message
We can't allow this to happen!...
At last people are finally starting to realize what the estate tax is all about...I've contacted my elected officials but when their last names are Bunning, McConnell, Northup...there's not much hope of support, so I'm depending on you Blue staters to help out...

Just think how much body armor that money would have bought...


18 rich families pay for campaign to kill estate taxes
Wednesday, April 26, 2006
Sabrina Eaton
Plain Dealer Bureau
Washington -- Eighteen of America's wealthiest families, including the Timkens of Canton, are bankrolling efforts to permanently repeal estate taxes that would save their families a total of $71.6 billion, according to a report released Tuesday by public interest groups.

Groups funded by the super-rich have engaged in a deceptive campaign to convince the public that estate taxes cause widespread problems for small businesses and family farms when they actually affect about one in 370 estates, said the report released by Public Citizen and Boston-based United for a Fair Economy.

This year, all assets under $2 million for individuals and under $4 million for couples are exempt from estate taxes. Current tax law will boost those exemptions to $3.5 million and $7 million in 2009, eliminate the estate tax in 2010, and reimpose it in 2011 with a $1 million exemption.

http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1146040565219270.xml&coll=2
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serryjw Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-26-06 07:35 PM
Response to Original message
1. I don't get this we are eliminating it
for ONE year,2010???
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 07:43 PM
Response to Reply #1
2. No...well yes but no...
the article goes on to explain it better...the link is at the bottom...
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serryjw Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-26-06 08:32 PM
Response to Reply #2
6. I have no problem raising it to $10 million
but no much above that....eliminating it is total bushit
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 09:23 PM
Response to Reply #6
7. exactly...I don't begrudge a man his money...
it's how he got it and what he does with it!...or her, to be politically correct...
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serryjw Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-26-06 10:01 PM
Response to Reply #7
8. I see $10 million
as a family business. Kids should be able to inherit the parents hard work........NOT WAL-MART!
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 10:29 PM
Response to Reply #8
9. I think thats what Teddy had in mind...
with money comes power, and you should have to earn both...
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serryjw Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-26-06 11:06 PM
Response to Reply #9
10. Does that mean you agree?
I think $10 million is a nice number, do you?
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Jigarotta Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-26-06 07:55 PM
Response to Original message
3. another yard of quicksand for the pleebs to enjoy.
you take it the streets right now.
Don't be nice with your words.

don't worry about manners like the 'formal' opposition does. hahaha.

Tell it, baby, tell it like it IS.
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 07:59 PM
Response to Reply #3
4. There's a saying here in Kentucky...
there's times you gotta get the mules attention...this be the time...
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Wed Apr-26-06 08:16 PM
Response to Original message
5. Teddy said it best!...
As a matter of personal conviction, and without pretending to discuss the details or formulate the system, I feel that we shall ultimately have to consider the adoption of some such scheme as that of a progressive tax on all fortunes, beyond a certain amount, either given in life or devised or bequeathed upon death to any individual – a tax so framed as to put it out of the power of the owner of one of these enormous fortunes to hand on more than a certain amount to any one individual; the tax of course, to be imposed by the national and not the state government. Such taxation should, of course, be aimed merely at the inheritance or transmission in their entirety of those fortunes swollen beyond all healthy limits.

– Theodore Roosevelt, speech, "The Man With The Muck Rake" (April 15, 1906)
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