A new perspective on the estate tax

(An e-mail I sent to Sen. Kay Bailey Hutchinson, the more moderate of "my" two Republican Senators).

Please oppose the move to extend the elimination of the estate tax, which benefits only the wealthiest 1% of Americans. I suggest that instead the exemption be set at 2 million dollars (indexed annually for inflation) and the revenue thus generated be used to return the Alternative Minimum Tax to being a tax only on the wealthy, rather than the middle class. If the exemptions for the AMT had been indexed for inflation, it would only affect those earning over $1.2 million annually. Projections say, however, that by the time the estate tax phaseout stops, the AMT will affect 2/3 of Americans with annual incomes from $50-100,000 -- the middle class. The AMT is much more grossly unfair, and to more people, than the estate tax. Please help the majority of your constituents, not merely the favored (and wealthy) few.

-- Dave K, Speakeasy Moderator
click here to email semods4@yahoo.com

The opinions expressed above are my own,
and do not necessarily reflect those of CNET!

Discussion is locked

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I'll never understand

by duckman Apr 21, 2005 12:47AM PDT

why it bothers Liberals so much that if workers get to keep more of what they earn

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People might actually start thinking it's their money, and

by Kiddpeat Apr 21, 2005 1:39AM PDT

its their country, government, etc. That could be a REAL problem for the Dems.

Besides, they need all that money to keep the bennies flowing to their interest groups. They need to be viewed as the benevolent parent who handles all our needs.

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I?m lost at the corner of walk and don?t walk

by kmarchal Apr 19, 2005 5:32AM PDT

With subsidies and Earned Income Tax Credit, There is a group of nearly 1/3 that is considered non-taxpaying. This group of people is preached to that the government owes them and with a vote for me, I will allow you to keep your subsidies. So the other 2/3 has to cover the rest of the tax burden. (yes?)

The tax system can not be a system of handouts or select tax system for one group to pay more. I do believe tax system needs to be a pay your fair share and to help those that need the assistance. Subsidies can not lift one out of poverty without making them dependent, it should be use to help someone lift themselves out. (On Deadbeats) If you give a deadbeat a $1,000 today for a vote that person will still be a deadbeat tomorrow.

If you want redistribution of wealth you can go to Cuba or North Korea. (this statement is not directed to you - just a brain hiccup)

What I believe JFK points was all Americans should be treated and taxed equally.

JFK?s tax cut.
Specifically, therefore, I recommend enactment of an investment tax incentive in the form of a tax credit of:

-15% of all new plant and equipment investment expenditures in excess of current depreciation allowances

-6% of such expenditures below this level but in excess of 50% of depreciation allowances; with

-10% on the first $5,000 of new investment as a minimum credit

This type of tax cuts created growth and created more taxpayers.
JFK believed in Capitalism as so do I.

If you want to appreciate the Bush Tax Cut do your taxes in Turbo Tax 1998 then in 2004 then I?ll bet his tax cut will become your friend.

This is when I get lost in you labeling me a Liberal?

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Better check your spectacles

by duckman Apr 19, 2005 10:18PM PDT

I never called you a Liberal. I?m speaking of the Liberal dogma of the idea that taxes are a zero sum balance. Methinks you protests too much young jedi. I?m glad you point out that (according to you) 1/3 of ?taxpayers? don?t pay any taxes. Well, in 2001 the top 1% of wage earners paid almost 34% of all income taxes, the top 10% paid 65% and the top 50 % paid 96%. . Does that sound ?fair?? I don?t disagree with JFK on tax cuts. They were right then and they are right now. If you think that we don?t have ?distribution of wealth? going on right here, what do you call Social Security, Medicare, Foodstamps, WIC, Section 8 Housing, etc? Let?s count the trillions of dollars transferred from the earners to the takers since LBJ?s ?Great Society? and ?War on Poverty

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The Collectible Tax

by James Denison Apr 20, 2005 6:06PM PDT

Why do you think they tax income from collectibles at 28%? It's because they know so much that would be taxed as estate gets passed as gold coin, other coins with high collector value, valuable stamps, and so on where it can't be adequately tracked by the government like cash can. If one doesn't keep it in their own safe then they have security boxes setup with it in their inheritors names which they have access to and when they die the keys are distributed instead. Each person cleans their own box out and nothing left for the government to trace, no record in a will, other than maybe the passing of the keys, if that. Gold coin is still king for passing on wealth that can't be tracked by the government taxing vultures. Why the government thinks THEY should inherit at one's death is beyond comprehension, except in the minds of kleptomaniacs.

A new perspective on the estate tax

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