| Penske_Account |
10-03-2005 03:11 PM |
White flag?
Quote:
Originally posted by taxwonk
A lovely thought. Unfortunately, it is wrong-headed and against your self-interest. Odds are very rare your estate will be subject to the estate tax. However, it is a virtual certainty that with the estate tax eliminated, you will pay more taxes over your lifetime due to an increase in the income tax to make up the estate tax shortfall.
Spending cuts will make up the difference you say? Ha ha ha. You have had Bush in office for nearly five years now. Try shitting in one hand and putting the dollars from spending cuts in the other. See which hand fills up first.
|
Dissent.
1. Maybe I am self-interested because maybe I have married or will marry someone who stands to inherit an estate that could be taxed. And ftr, if it is my current wife, then the money would be all self-made.
2. Even though I will be dead, I want my money going to my kids and not the government. Although if the estate tax is still around, I will find a way to skirt it without engaging consultants. As it stands now I plan to renounce my citizenship and move abroad in about 20 years which will leave me about 30-40 years life expentancy which will allow me to outlive the tail applicability of the tax code.
3. What you miss about me is that I am not against the concept of some tax to fund the Feds, but I wanted focused. Get rid of the estate tax and increase the income tax and force people to look at what government is taxing you for and what it is spending it on. Unlike Delay I think there is fat to be cut and I think it is a debate that has been ongoing since Reagan addressed the little people's concern about it. The estate tax is like a stealth tax...."only the superrich pay it"......"you're dead, what do you care"....bullshit. Every tax has an oppressive cost and I want that cost out front, not hidden. Then the people can make an informed decision.
|