posted December 15, 2017 12:39 AM            

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Originally posted by Randall:
We all know how the mandate is supposed to force young healthy people to buy what they don't want to pay for the redistribution of wealth. This BS is no striking revelation.

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posted December 15, 2017 12:42 AM            

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Originally posted by jwhop:
No one can pay less taxes than ZERO. ZERO is the amount of federal income taxes paid by 45% of American citizens. They've already had their tax cuts.

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posted December 15, 2017 12:57 AM            

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Originally posted by iQ:
Any tax cut for the Middle Class is excellent and necessary. But pointless to cut Estate Taxes or give too any cuts to the rich because they do not create job with the savings, they just send that stash abroad.. Just getting back the "Black Money" stashed by US Corporations in Tax Havens is enough to handle the Deficit.

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Why are you assuming that just because someone has to pay estate taxes, they must be rich? Did you know that middle class people can acquire these things called inheritances? Do you think it's fair that someone should have to pay taxes after inheriting something, after their parent or grandparents already paid taxes when they originally purchased it and then annually as well? Don't you think they would LOVE to spend that money on something else - college savings, healthcare, etc for their own children and families?

posted December 15, 2017 06:04 AM            

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Originally posted by Randall:
Especially people with family farms who are in many ways the foundation of this country. The property itself may be worth a decent-sized dollar amount, but it's a business, and it's often a struggling venture. Why should it be destroyed by an oppressive tax when it's passed down to family members upon death?

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posted December 15, 2017 06:29 AM            

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Originally posted by Catalina:
.estate tax applies only to amounts over $5million.. .. but gifts over s few thousand. They are also taxed begore bestowal. Which do you think affect the middle class more?

And please stop with thr peor farmng families. A little oversight of big Agra would do a Lot more for them.

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You seem to have no idea how estate tax really works.

It doesn't just hit "big Agra" as you call it. It affects small farmers, too. Did you know that in many parts of this country, you can be rich in land but otherwise poor? Can you imagine deciding between paying your regular bills and paying taxes on something that was rightfully and legally left to you because you were the "trusted" family member who that elder KNEW would take care of the land? Land value is not always based on amount of land contained within a property or the structures (such as houses) on it, by the way. It's not a middle class family's fault that the land has a millionaire dollar view or that it's in a "in-demand" area, nor should they have to pay exhorbitant taxes after those taxes have already been paid by their elder.

If you need examples, I know many, many people in my area who are working class individuals that have or will inherit land and farms one day that they will have to pay a significant estate tax on. If they're not able to pay those taxes, the property will likely be sold for significantly less to big corporations who will buy it up and put multi millionaire dollar subdivisions on it that drive neighborhood property taxes up and change the dynamic of the area. It's already happened all over Appalachia.

posted December 15, 2017 12:52 PM            

Secondly I don't have to imagine what "land poor" means i know perfectly well.

There are ways of protecting assets already available. But forgive me if I don't hang around to butt heads and explain myself repeatedly. I have a major life change to deal with myself

4. Only a Handful of Small, Family-Owned Farms and Businesses Owe Any Estate Tax

 Only roughly 80 small business and small farm estates nationwide will face any estate tax in 2017, according to TPC.  TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million.  Furthermore, TPC estimates those roughly 80 estates will owe less than 6 percent of their value in tax, on average.[11]  (See Figure 3.) 

posted December 15, 2017 02:19 PM            

Sure, and what happens when you inherit land valued at greater than $5 million? Believe it or not, this happens to regular ol' people, not just "the rich." They're forced to pay more taxes on property that has already been taxed.

posted December 15, 2017 02:26 PM            

No one is insisting on Slabless Estate Taxes.
I should have reframed the point like this.
Zero Estate Taxes when Profits after settling debts using Estate Returns is less than say $500,000. 10% from that to 5 million dollars and 20% on every dollar beyond that.