posted on Nov, 16 2012 @ 11:30 AM
I am not a fan of the Estate (Death) Tax that we see in this country. I find it to be highly unreasonable to think that a family should surrender
(pay a tax) to the Govt. when their loved one dies. The money that's been accumulated over a person's life is taxed already, so why is it that when
they die the family who receives the money is being taxed at such a high rate?
Current $5 million 35%
2013 $1 million 55%
Proposed $3.5 million 45%
I'm curious if anyone on ATS finds these taxes to be fair? Do you feel that the Govt. deserves this money? They state that the estate tax is really
just for the super rich of the world to make sure wealth isn't just passed from one generation to the next. So they essentially want to shorten the
gap between the rich and poor. My issue is that a household after 30+ plus years of 2 parents working can easily go over the $1 million mark that's
set for 2013. The super rich have more to lose, but they also have more to live on so they likely won't see much of an affect to their lives. Now
the family that has a net worth in the low millions will see a VERY significant hit to their wealth...
If this tax is for the super rich, then why not set the number at $20 million or higher? why is it just north of $1 Million? $1 million net worth does
not making super rich by any stretch today...
Anyways, that's how I feel about the Estate Tax and I'm curious to hear how other ATS members feel? Would you like to see if go? Are you okay with the
current set up?
edit on 16-11-2012 by jhn7537 because: (no reason given)