Estate tax must die die die!!!

[BA Deere]

http://www.youtube.com/watch?v=bxeE9xzNrFk    How much different are we from the former Soviet Union, seriously?  According to Peter Schiff  , if he dies next year after federal death tax and Connecticut tax, his heirs would be left with 13%....13% the Soviets perhaps left their citizens more than that.  Still the liberals think people aren`t taxed enough. There`s a clear choice in November, believe you, me buddy boy!

[kraft-t]

You can either negotiate a new tax policy including tax increases for the high income folks or you can risk it all by refusing to negotiate. This could have been settled long ago but you chose hardball and refused to meet democrats half way.

I hope the tax cuts do expire for everyone so that we can restart from base one and pass new legislation for the tax code. Repubs have chosen the my way or the highway policy and this time the bluff won't work. Obama will hand you your head on a platter and you will wonder how to get out of that predicament.

You know if you play hard ball you might find the bat up your rear.. ENJOY!

If Schiff is overly concerned about his inheritance tax he could choose to die now and get a zero rate.

[cotman03]

It's just not correct to say this is the Republicans fault.  It's the fault of both parties.  The perception they have of themselves is that if their party gives in and accepts the plan of the other party, then the other party is going to be the "winner" and their own party is going to be the "loser."  Noboby wants to be considered the loser.  For you to say it is the Republicans fault is also saying you have your head in the sand. 

[BA Deere]

Here`s what I find very curious about you retired, neo-FDR Demorats. Now, I grewup around genuine FDR Dems that through the depression "Shoot 2¢ corn 3¢ hogs you couldn`t make anything!" and then WWII, the one thing that you could count on them was to do anything and everything that  helped their own backpocket.  They kind of liked the Korean "police action" and Vietnam because they thought "war raises commodity prices, which helped turn their inheirited 240 acres into a 640...nevermind the body bags.  Then when Reagan was in, they like him, they clicked their false-teeth together with glee because they were retired and had the bank full of money and locked in "18% interest in the money market ".   The genuine FDR Dems have all passed on now, bless their hearts.  But you neo-FDR Dems are a curiosity, you guys have the world by the tail and with Obama seem to be voting totally against your self interests.  I know if any of you do bother to explain you`ll say that "We are putting the good of others ahead of ourselves!" ....No sorry, I don`t buy THAT for a minute.  You retired Dems have some angle that I`m not seeing.  You guys own alot of land,  the bank full of money that`s giving you a return that if it got lower you`d have to pay the banker rent for storing your money. This botched up money system that gives you a return of half what inflation takes is slowly stealing your money without even holding a gun on you.  Now truth be told most of us don`t care personally what happens to income tax rates, our accountants ask "okay do we want to pay a little or no tax this year?" But with the property tax at the county level and death tax, there is absolutely no wiggle room so why support Democrats?  I mean is it worth giving everyone in the country free healthcare to one day lose your land?  Look at Social Security, you guys and your wives collect what? ...probably less than $20,000 a year, that`s a small pitance compared to all the money that`s being lost right under your noses due to Democrat policies. You guys are up to something, I`ll figure it out one day ...maybe it`s just as simple as "easy come easy go"...I don`t know.   Oh yeah the Wells school vote passed, now that it passed they`re calling it a $29 million school, it jumped $1 million   It took 4 votes in ten years to get it passed ...4 votes in ten years, and they don`t have a red face in reporting that....think about it!  http://www.keyc.tv/story/19279895/usc-votes-in-favor-of-new-school

[kraft-t]

Obama has tried to negotiate with the right.he right has been unyielding and come January 1 2013 you will have that tax nightmare you want to avoid. Legislating is about compromise and if you choose to not  compromise you are to blame for the inevitable result.

The bush tax cuts were planned to expire two years ago. That was not Obama's doing. That was the passed legisl;ation by the congrewss and president Bush back in 2003. The right chose to play hardball with OBama and got those rates extended two years. Obama shouldn't have yielded to the conservative pressure. The result of that has mbeen an unyielding congress for the whole of his term.

His next term will not be like that. Obama will assert himself and likely have  democrat congress to help him govern.

[bruce MN]

Did you see O'Donnell play that forward this morning don?  On M. Joe...aroudn 6:35 CDT or so. 

[Nebrfarmr]

BA, the ones around here all want income tax to be raised, and no limits on how much of your income is subject to SS taxes, but don't want to pay SS tax on 'unearned' income, you know things like the rent income from the farms that they have paid off.  High taxes don't matter as much, if your 'income' isn't considered as 'income'.

Then, you get the estate taxes.  The guy across the fence, that passes away, will have to sell his land, to pay the estate tax.  Mr. Pays less tax, because all my income is 'rent' income, then has more money in the bank, for the downpayment, and can borrow the rest at 4% or better, because he has other, paid for land, as collateral.  He (and usually also his wife) then gifts a couple % of the title to that land to each of the grandkids, every year, up to the amount you can give them tax-free, to avoid estate taxes.  If he is in his late 60s or early 70s, the land will be passed on, tax free, paid for with 'rent income' that is not subject to the SS tax, while still collecting SS.  See it all the time, around here.

Meanwhile, the young guy, , who is  working, and trying to pay off his land, pays an extra 15% in SS tax, on their income, because it is 'earned' income, while paying a higher interest rate because of not having a paid-for farm to use as collateral.

The old guys around here, with money in the bank, are not 'banking' the money, they are just holding it there, for the downpayment on more land. 

I think their 'angle' is, that they are at an advantage when it comes to buying more land, and like it that way. 

[Nebrfarmr]

So, how it is the GOP's fault, that Obama didn't stick to his principals?

What about the 2 years, that the Dems had control of the House, the Senate, and the Presidency?  They had majorities in all 3 branches of the Federal government, yet somehow everything that went wrong, is someone else's fault?

Not that the GOP is without sin, but there is plenty of blame, all around.

I'm with Cotman.  To say it is all the 'other' party's fault, is to deny reality.

[kraft-t]

No i didn't .Is there a link to it?

[kraft-t]

Refresh your memory. Have you ever heard of a minority blocking all legislation in the senate with a threat of a filabuster. If you cant invoke cloture you cannot vote.

But then you know that don't you? Dishonest rascal!