Biden taxes "patriotic"

iVillage Member
Registered: 06-23-2008
Biden taxes "patriotic"
200
Thu, 09-18-2008 - 11:28am

Can someone please tell me why the Libs are always screaming about "fairness" for everything, but then turn around and expect unfair taxes on the rich?

MONTANA MOM !

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iVillage Member
Registered: 08-25-2008
Fri, 09-19-2008 - 1:30pm
Actually, Florida has something along those lines.
iVillage Member
Registered: 08-25-2008
Fri, 09-19-2008 - 1:31pm
So why is a progressive tax "fairer" than one which taxes all income at a flat rate?
iVillage Member
Registered: 09-11-2007
Fri, 09-19-2008 - 1:31pm

There has been an estate/inheritance tax for quite some time.


Estate Tax. The claim that Obama proposes to "restore the inheritance tax" is also false, as are the claims that McCain would impose zero tax and that Bush "repealed" it. McCain and Obama both would retain a reduced version of the estate tax, as it is correctly called, though McCain would reduce it by more.

The tax now falls only on estates valued at more than $2 million (effectively $4 million for couples able to set up the required legal and financial arrangements). It reaches a maximum rate of 45 percent on amounts more than that. It was not repealed, but it is set to expire temporarily in 2010, then return in 2011, when it would apply to estates valued at more than $1 million ($2 million for couples), with the maximum rate rising to 55 percent.

Obama has proposed to apply the tax only to estates valued at more than $3.5 million ($7 million for couples), holding the maximum rate at 45 percent. McCain would apply it to estates worth more than $5 million ($10 million for couples), with a maximum rate of 15 percent.


http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html

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iVillage Member
Registered: 05-14-2008
Fri, 09-19-2008 - 1:40pm
The funny thing is the rich already do take care of us! As employers they provide us jobs, or they invest in other companies who provide us jobs, they give jobs to landscapers, babysitters, waiters, pool cleaners, and even boat salesmen. That along with picking up the bulk of the national tax bill in the first place. Heck we even tax them on their lives savings once they're dead. I'm not sure what more we expect them to do or why we have a right to demand more.
iVillage Member
Registered: 09-08-2006
Fri, 09-19-2008 - 1:41pm


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iVillage Member
Registered: 09-08-2006
Fri, 09-19-2008 - 1:45pm
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iVillage Member
Registered: 09-08-2006
Fri, 09-19-2008 - 1:47pm
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iVillage Member
Registered: 05-14-2008
Fri, 09-19-2008 - 1:50pm
Intangible tax. It was changed and the exclusion amount was raised to at least $250,000 if I recall. And it does not include any assets owned in retirement accounts, or money market or bank accounts (only things like stocks/mutual funds) and of course it would not include real estate which is already taxed via the property tax system. They did at one point require landlords to pay taxes on the value of "tangible" items like the depreciated value of the refrigerator in your rental house! LOL! It because so ridiculous that the system in place to assess and collect the tax cost more than the revenue it generated so they canned the whole system a number of years ago! What a relief. Now I no longer have to keep tabs on the potential resale value of those ten year old vertical blinds!
iVillage Member
Registered: 04-09-2006
Fri, 09-19-2008 - 1:51pm

"Not because earning overall are less but because the tax burden has shifted to those in high income categories."

Oh, I thought it was because the present administration has lowered taxes for all and borrowed to make up the difference. Silly me.

iVillage Member
Registered: 09-08-2006
Fri, 09-19-2008 - 1:51pm


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