Biden taxes "patriotic"
Find a Conversation
Biden taxes "patriotic"
| 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?

Pages
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to "restore the inheritance tax" is also false, as are the claims that McCain would impose zero tax and that Bush "repealed" it.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 It was not repealed, but it is set to expire temporarily in 2010, then return in 2011, when it would apply to estates valued at more than $1 million ($2 million for couples), with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
"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.
Pages