Estate taxes

I think people should be able to leave their estate to whoever w/out the goverment sticking their nose in it. I don't think the goverment is due a damn thing. Peple work all their lives to require things & of course want to leave their children all they can. why should the goverment get part of it??

Well I know for Michigan it has to be worth more than $1 million if I remember right. Mind you that was in 2005,and I agree it is like reading threw gibberish trying to figure it all out. The whole estate taxes thing makes and made my head hurt good luck my friend.

Frankly, D., they seem rather obscene to me. They're not taxes on your earnings, but on your gifts to survivors. It just doesn't seem right at all!

Estate taxes are a rather good idea. The purpose is to make sure that family property is not passed on from generation to generation, from parent to child, to prevent any of the lower class from ever getting wealthy, or to wipe out whatever wealth the middle class acquires, before either present competition to those who are wealthy. Oh, sorry... that's the effect, not purpose. The purpose is to prevent a family from gathering so much money as to become a national dynasty that is only powerful because of the nearly unlimited financial resources that maintain the families economic power and status. One success has been the Kennedys, which have have been prevented from having unprecedented economic and political power after 4 generations, with now Caroline Kennedy only being worth a mere $400 Million, plus unknown amounts in blind trusts. Another success would be the Rockefellers with Jay Rockefeller being a mere Senator with a net worth of only a minuscule $126 Million dollars, not including the Rockefeller family trusts which hold nearly $110 Billion dollars by last estimates. Just imagine how much these people would have if we didn't have Estate taxes.... Meanwhile, a couple of sisters, earning $30K a year here in Ohio, recently were forced to sell their families farm, which had been in the family for 3 generations when their great great grandfather built it. The estate tax was $10 Million dollars. We wouldn't want a person being able to keep a multi-million dollar family estate when they are poor middle class working families! Thankfully, we can force them to sell it, and collect that lower-class money, for the good of the poor. Namely the poor we just created forcing them to lose their wealth. I'm sure you caught the sarcasm from my post. Here's my view, regardless of whatever rational you use to support the estate tax, the effect is vastly different from the purpose. Rich people have the money and ability to hide their wealth in ways the poor can not. The rich and buy up tax sheltered assets. Use tax credits like wind mills and solar panels. Move money to off shore accounts, use blind trusts, and many other tax shelter systems. The people who can't protect themselves, are the poor and middle class... namely us. We don't have the funds, or the ability to play these games. We can't hire a high dollar accounting firm to open Swiss bank accounts, or buy $800 thousand dollar wind mills to use a tax shelters for our estate. So we get nailed, and the rich get off free, like the Kennedys and Rockefellers. So why do we keep shooting ourselves in the foot? Let's end these taxes that end up hurting us, and stop pretending "this is for the super mega wealthy!".

Taxes are there because the government is inefficient and can not think other mean of raising revenue than extorting their people. They are the softer version of the mafia.

Although I do not understand U.S law, but I understand the world a general rule,the Government will put the needs of the community laws, but the interests of the people touched by the law similarly come up with new ways to deal with the law.

I see nothing wrong with the elite having to share among family and the government. I do have a problem when the elite control the government to take away from the poor to fill the coffers of the elite houses. There is a self destructive force at work... Maybe the elite don't quite get it yet??? What do you think?

hmm..i think i'm in no worry of owing at that rate eh..some of the mega rich who own multiple homes can easily absorb it if they make that much.45% of 3 mil isn't really than much to someone of say bill gates' wealth. is it right? no,not necessarily..but in some ways i think it's a luxury tax hiding as an estate tax.

hi dawnald guess I am just plain out of sympathy tonight as when I think of people who have estates above three and a half million dollars, I do not weep tears if they take a big hunk of their assests. I mean when i retired the Irs took a big chunk out of my 11,000 dollars, almost one thousand dollars. 'for working for 23 years, so no no sAd tears if Uncle Sam takes 45 percent of their assets. Dawn no dont reach for the flak jacket I m not going to clobber you at all.

Personally, I believe the government is greedy and would like to be the owner of everything so we're under their total control.