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interesting? Thu, 27 Jan 2005 18:07:52 +0000 hourly 1 https://wordpress.org/?v=7.1.4 By: the talking dog https://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1112 Thu, 27 Jan 2005 18:07:52 +0000 http://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1112 Tom–
It’s never been phrased like this before, and it’s never been a top rate of 27%; remember, inheritances have always been taxed at 50, sometimes 70% top rates. THAT seems unfair. The same exact 27% rate that working men and women have to pay on income over $100K? Much harder to jump out of.
We’re going into a completely different approach to taxation: the theme has got to be– its not THE DEAD GUY whose paying the tax– HE’S DEAD– its THE BENEFICIARY WHOSE PAYING THE TAX; the beneficiary HAS NEVER PAID TAX ON THE BEQUEST BEFORE (the usual “my Uncle Waldo paid taxes on this money all his life” bullshit, which is invariably not true; most great fortunes involve some level of tax avoidance, if not outright tax evasion.)
The other thing is: WE ARE PAYING FOR THE GOVERNMENT. The system that allows you to accumulate and then bequeathe property MUST BE PAID FOR.
I agree, though– that if so much as one single “middle class tax break” (home mortgage interest, for example) is inserted in there, it ruins all possible arguments I have to stop the K-Street feeding frenzy (STARTING with large estates).
Didn’t say it would be easy… but I would say that its DEMOCRATS that would make something like this IMPOSSIBLE; Republicans might actually be more willing to go along with it (it DOES cut that top marginal rate…)

]]> By: Tom https://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1111 Thu, 27 Jan 2005 17:02:07 +0000 http://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1111 Tax inheritance? You’ve got more chance of Bush appointing Gore to the Supreme Court and Kerry as AG than you do of anyone making a whisper about taxing inheritance.
American’s hate the Estate tax and that doesn’t even affect most of them. Now try and sell that everyone is going to get taxed on what their dear old Aunt leaves them. Ha! Political suicide, lower rates or not.

]]> By: irisclara https://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1110 Wed, 26 Jan 2005 06:42:20 +0000 http://thetalkingdog.com/2005/01/25/the_red_sea_of/#comment-1110 I like it but it will never pass this administration unless they think they thought of it themselves. It might be an interesting platform for the DNC though. Maybe “Crazy” Howie Dean could stump for such a thing but when Steve Forbes tried talking about a flat tax people freaked out. Fiscal responsibility just isn’t cool.
BTW did you see my man Byrd putting that Rice woman in her place. Racism, hell, he just hates Bush.

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