|Kill the death tax|
|Written by L. Wood|
|Friday, 13 July 2012 13:27|
What do you think about this Death Tax? This is the tax that the families pay after the mother or father has to pay after their death. This is 30 percent of all insurance policies and all so the state can sell 30 percent of their land.
And it is my understanding that congress is fixing to raise this up to 50 percent real soon. Now this is money that the taxes have been paid on. So don’t you think that it is time to put a stop to all of this?
EDITOR’S NOTE: As of 2011, the U.S. Estate Tax (also known as the death tax) allows for up to $5 million to passed from an individual upon their death without paying taxes. If assets are left to a spouse, the tax does not apply no matter what amount is inherited. Currently the estate tax rate is 35 percent after it was temporarily reduced by Congress in 2010. In 2013, however, the Estate Tax is scheduled to return to its 2001-02 levels, which allow for an untaxed inheritance of only $1 million with a tax rate of 55 percent on any assets over that amount. The U.S. Estate Tax was created by Congress in 1916.
|Lost and Found|