Cass
Well Cass - I've never been in favor of "income re-distribution". To me that smacks of Marxism. I'm tired of people reaching into my wallet and taking money they have not worked for or earned and turning around and giving it to someone else. I am all for charity - I firmly believe that we should all help those who truly need it and that a society is judged by how it treats those unable to care for themselves. I practice what I preach, also. I just happen to believe that Government is not the solution to any problem nor a better judge of how to spend my money than I am. As for the tax cuts that are about to expire - I have posted much information about what they are and how they will affect you. If you cannot see that then you have been brainwashed by the progressive media. FOX doesn't sway me, but they do seem to ask the questions that the rest of the media will not ask.
Here is just one scenario - the Inheritance Tax, one of Joseph's favorite whipping boys. In my example - your family owns a dairy farm. Your parents run the farm and live there in the farm house. You have about 80-120 acres and 120 head of dairy cattle. You also have the requisite barns and farm equipment, etc. to run a dairy farm. Your parents make a decent living, nothing extravagant, just "normal". Your father passes away. Today, there is no "death tax", meaning the farm passes to the heirs with no federal tax. Beginning on Jan. 1, 2011 the tax would be 55% of the value of the estate. You tell me that you are not millionaires so it won't affect you. Wrong - the 80-120 acres are valued not at farm usage, but at "best usage" or maybe the value of property of a housing development. So, the land is valued at $10,000 an acre (very low estimate) so the land is worth $800,000 to $1.2 million. Next is the house valued at $120,000; the out buildings at $75,000; the dairy herd at $120,000; the equipment at $75,000. You are now over the $1 million amount. The IRS will be expecting a check for 55% of the value - or about $600,000 from you. Guess what - you have to sell the farm and all that goes with it at a quick sale, means you won't get the "value" for it. Maybe you will get $.80 on the dollar, meaning you will get about $850,000 and owe the IRS $600,000. The rest probably goes to lawyer fees and other expenses. This is all very simplistic and numbers are generalizations, but you should get the idea. My question - taxes have already been paid on all these possessions - why is it that you think we should be taxed again when we die??? Again, a Marxist idea - take from the "rich", yada, yada, yada.....
