Obama is right on the estate tax

Page history last edited by Mike 7 mos ago

Obama's House

Obama is right on the estate tax.

This is actually the only thing that I agree with Obama over Mitt Romney. This puts me outside the norm of the republican party today. I don't think I am hurting Romney by saying that I disagree with him on this one issue. I know that most of you agree with him and not me, but for the point of conversation, what do you think, and what would you add to my list?

Obama has called the attempt to remove the estate tax a "Paris Hilton" tax break for "billionaire heirs and heiresses." This is scary. I agree with what he says. I think he is right. We should take more money from the very rich, when they die, but he he is weird in saying taxing millionaries at the same rate as everyone else, is a tax break!

It is kind of complicated. Most republicans want to tax millinaries who die, at the same rate that we tax everyone else. Obama wants to take more money away from millionaries when they die. I agree with him, but I will call it what it is... a money grab. But he lies and tries to say that not taking a higher percentage of their money is a "tax break". He should be smarter than this...

It is stupid of him to call the removal of the estate tax, a tax break. The estate tax is a special tax set up for people with more than 1.5 million dollars, so the government can take away 1/2 of their money when they die. I agree with Obama wanting to let this tax stay on the books, but I disagree with him calling it a tax break, if we are to leave it on the books. We shouldn't lie. I like the estate tax, but I will call it what it is. Getting rid of it would not be a tax break.

Obama is right on the estate tax.

Reasons to agree

The estate tax is a great way to ensure that those in the aristocracy, and that end up ruling over us, deserve to rule over us. There is always going to be an aristocracy, but I want it to be those who really are better than us, not those who’s parents were better than our parents.
Thomas Paine supported the estate tax.
Andrew Carnegie supported the estate tax.
Theodore Roosevelt supported the estate tax.
Warren Buffett supports the estate tax.
The fact that Paris Hilton is a billionaire, proves that our society is unfair.
It is not healthy for a country to have a group of people that never have to work a day in their lives.
Most people would rather get taxed after they are dead.
Even with the estate tax parents can pass billions of dollars onto their children.
Even with the estate tax parents can pass the first 1.5 million dollars onto their kids tax free.
Parents can still help their children without having to let parents hand billions to their kids tax free.
Work is good.
If it was bad for welfare-moms to be idle, then it is bad for estate-kids to be idle.
Too many Americans live with a sense of entitlement because of their wealth.

Reasons to disagree

The estate tax breaks the bonds between generations.
It is wrong to tax money twice.
The money the government would take when collecting the estate taxed was already taxed when the parents earned the money.
Maybe the kids don't deserve the money, but governments don't have the right to just step in and take it.
Spreading the money equally between citizens is called socialism.
Russia eliminated its inheritance tax in 2005.
Sweden, the birthplace of the modern-day welfare state, eliminated its estate tax in 2005.
The estate tax tax is unjust.
The estate tax is economically counterproductive.
Argentina does not have an estate tax.
Australia does not have an estate tax.
Canada does not have an estate tax.
Mexico does not have an estate tax.
Switzerland does not have an estate tax.
India does not have an estate tax.
The US has the largest death tax in the industrialized world.
The third policy plank of Marx’s Communist Manifesto is taxation of all inheritance.
The more power you give the government, the more power it will take.
The estate tax will never generate enough money to make it worth while. There just aren't enough people who are that wealthy. The only reason we have the estate tax, is because we hate the rich, and we want to get back at them for having so much money.

Mitt Romney and the Estate Tax.

Apr 19, 2007; Policy Briefing: Abolishing The Death Tax

Background

The federal estate-tax rate is 45% on every dollar above a $1.5 million exemption. In many states the combined federal/state tax on dying rises above 50%. This means that the government can take a larger share of the business, home and savings that a citizen builds up over a lifetime than would go to his heirs.

People who don't like the estate tax call it the death tax, because it sounds kind of morbid taking money from a dead guy/girl.

People who like the estate tax, call it the estate tax, because none of us like the rich.