Congress jst got a 45 percent tax on your daddies 3.5 million bussiness when he dies.

Amazing.... can these people be stopped...

they aim is to destroy the small business.

those dirty bas&^#*!!!!!! They have NO right to a persons life long estate!ALL they know how to do is steal from us, I am so mad I could spit!

THANK YOU ALL YOU DAMNED LIBERAL who voted these idiots in !!!!



POX ON ALL YOUR HOUSES!!!!

:nancy:

link please

Estate tax has been there for years, however as the R's try to either abolish it, the D's keep and raise it since apparently they're entitled to everything we earn. Don't worry, at BHO's "jobs" summit today he blamed small business for being greedy and not hiring since they're trying to make money...just bend over because this is going to get ugly.

They are just going to drive people to deal drugs. My grandparents were bootleggers. They bought 56 hotels and bars and lots of cars and great stuff. When you fuck people over they creative ones fuck you right back.

Never forget there's 545 of them and 300 million of us, when you get tired enough of bending over.

[link to www.bloomberg.com]

hell you can't get an operating loan, you can't get squat from the small business administration unemployment rate over 10% but by DAMN the government is hiring!

GOOD BYE AMERICA this is heart breaking stooges in the white house stooges in the congress and senate none have every run a business signed the front of a paycheck yet they think a job summitt works when you slander small business's.. always a villian with these sobs

Exempt first 7 million at least. This won't affect very small businesses.

yeah and all u glp persons went so sooky for the dummocraps. lucky i don't have a business and i'm not in usa. but if i was i would be on foodstamps cos u get rewarded for being poor.

Huh? How do you suppose it won't affect SMB? I work with Fortune 100 end users and SMB contractors, there are by far more contractors than the end users. On average, the contractor pulls in approx 12mil per year in gross revenue...do you realize the tax is from penny 1?

There should be no estate tax, period.

They tax you all your life on your income, your properties, anything you buy, and if you are shrewd enough to have anything left over to leave to your heirs, they want a big chunk of that too.

worldnetdaily.com helped 7 million plus tax payers send this tax and spend congress thier notice of firing starting in 2010 with pink slips to congress already . more pinkslips are going out .now to congress.. seems the bussiness tax payers and thier employess are going to have to get congress to stop this tax .. or else fire employees and shut down or reduce the bussiness by half its size to pay that 45 percent inheritance tax on small family bussinesses...... call your democrat congress now . to protest this tax . . small bussiness are already strugling to keep thier bussiness open. thistax and spend congress wil have many folks unemployed starting 2010 as soon as the owner dies.from this law . . we must unite against these lnatics small bussiness employe probably half of americas workers .. does any one have the stats on small bussines employers empack on jobs in america.. yikes .. .

I understand there has always been an inheritance tax but it is totally unfair taxation, the money earned to pay for the land the buildings the ranch the farm has been taxed and taxed and taxed throughout ones life time, its nothing but stealing when they tax it again!!!

I want to send them all packing next year every single politician who is running for office GONE!!! Start with Pelousi, Reid.. !!! I hear in Nevada there are signs all over the state "anyone BUT Reid"! WE need those all over American for every candidate send em home!

What the...????

While no one in my famiy will ever come near to making or leaving that amount of money, still, for those who have it, it is THEIR money, not Nancy's, not Barak Hussiens.

Fuckin' cunts and I do mean that!

A bucket full of gold coins makes an ideal transfer of wealth.

There are few things that can be passed down without taxing.

. .

And on a smaller scale -- "year end inventory tax".

They tax you when you buy it, they tax you when you sell it, and they tax you on it if it sits unsold at the end of the year.

. .

Your post is complete and utter bs. How about you learn some things about probate, estates and inheritance taxes before posting your nonsense again.

For those that actually want to hear the facts without all the alarmist contortion from the OP, I'd suggest actually reading the article provided.....

House Votes to Keep U.S. Estate Tax, Exempt First $7 Million

By Ryan J. Donmoyer

Dec. 3 (Bloomberg) -- The U.S. House of Representatives voted to prevent the federal estate tax from expiring on Dec. 31 and permanently exempt couples’ fortunes of up to $7 million.

The House voted 225-200 to indefinitely extend the current tax, which imposes a top 45 percent rate.

“We make the estate tax go away for 99.75 percent of the people in the country,” said North Dakota Democrat Earl Pomeroy, the main sponsor. Republicans who voted against the measure said they favored repealing the levy.

Congress in 2001 decided to drop the estate tax in 2010 before reinstating it in 2011 at the previous higher top rate of 55 percent for estates valued at more than $1 million.

Nevada Representative Dean Heller, a Republican, said Congress should allow the levy to expire as the 2001 law intended. “Americans are sick and tired of broken promises from their government,” he said.

The measure now goes to the Senate, which plans to consider its own version. The two bills would have to be reconciled, passed again by both chambers, and signed by President Barack Obama by Dec. 31 to avoid the levy expiring.

Dozens of business groups, including the National Association of Manufacturers, the National Federation of Independent Businesses, the Farm Bureau and the Chamber of Commerce, have lobbied Congress for a lower tax as long as lawmakers refuse to permanently repeal it.

“The uncertain nature of the estate tax regime over the next two years is a major concern for businesses, many of which are struggling in the current economic downturn,” Bruce Josten, the Chamber of Commerce’s top lobbyist, said in a letter to lawmakers yesterday.

$10 Million Exclusion

Josten said the Chamber of Commerce favors a proposal by Representatives Kevin Brady, a Texas Republican, and Shelly Berkley, a Nevada Democrat, that would exclude the first $10 million of a couple’s estate from any tax and impose a top 35 percent rate for amounts above that.

Brady said today the House Rules Committee is denying the full House an opportunity to vote on his alternative.

“Rather than offer a bipartisan bill that has broad support, they chose to offer a partisan bill that has no support,” he said.

Brady and Republican allies say the Pomeroy plan places an unfair burden on small businesses and family farms, forcing heirs to liquidate when owners die.

“We don’t see a 45 percent rate as significant reform,” said Dina Battle, director of Tax Policy for the National Association of Manufacturers.

State Taxes

The Brady-Berkley bill also would repeal a federal deduction for taxes paid to about 23 states and the District of Columbia that have their own levies. That could create an incentive for those jurisdictions to repeal their taxes to eliminate the possibility of double taxation for wealthy families.

Some pro-tax groups say Pomeroy’s proposal treats wealthy families fairly. The bill provides an estimated $234 billion in tax relief over the next decade and contains no offsetting revenue, they say.

“With millions of Americans losing their jobs and losing their homes, now is not the time to go beyond the estate tax we have,” said Chuck Marr, director of federal tax policy at the Center on Budget and Policy Priorities, a Washington research group that typically supports Democratic policies.

In the Senate, Finance Committee Chairman Max Baucus of Montana, a Democrat, wants to index the new estate tax for inflation.

‘Must-Do’

“The chairman recognizes the estate tax is a must-do and he continues to explore all viable and responsible proposals,” Baucus spokesman Dan Virkstis said.

Pomeroy said he doesn’t oppose indexing while noting that congressional budget rules require lawmakers to offset the resulting $11 billion in lost revenue with tax increases elsewhere.

The 82-member Congressional Progressive Caucus, a group of liberal House Democrats, hasn’t taken a position on Pomeroy’s legislation, said Andrea Martin, spokeswoman for Representative Lynn Woolsey of California, co-chairwoman of the caucus.

Unless Congress acts, the estate tax would be replaced in 2010 by a capital gains tax on all but the first $1.3 million in inherited assets including homes, stock certificates, stamp collections and livestock.

Heirs who sell those assets would pay from 15 to 28 percent in taxes on any appreciation in value in the assets since they were acquired. Current law imposes capital gains taxes only on any increase in value after the assets are bequeathed.

A 2005 study by John Buckley, chief tax counsel for the House Ways and Means Committee, projected that 7,500 households would face estate taxes this year, while a repeal of the estate tax would subject heirs of 75,000 estates to capital gains taxes in 2010.

To contact the reporter on this story: Ryan J. Donmoyer in Washington at [email protected]
Last Updated: December 3, 2009 14:31 EST

Too bad none of you actually know me. I write Trusts for a much lower rate than any Attorney or Estate Specialist I know of.

It's an anti tax passion of mine for decades now.

Piss on 'em.

Hold on. I'm dead right? And this isn't Heaven is it?

Since you can't really own property in the US Inc., anyway.. and all property belongs to the State, I guess they can extract whatever tribute they want.

People get the Governments they tolerate.

What did you expect from the Statist anyway?

Aint it the truth. Property taxes. What a fuckin joke.

Bullshit. What does that have to do with the estate tax?

The super-rich don't invest in small business anyway. Most of their wealth is in non-productive assets and that's the way they likes it.

[link to www.bainvestor.com]

There aim has alway been to destroy the wealth of the non-insider families of the USA. Always.

Inheritance taxes are the single biggest proof our government has never really given a damn about families. There is more to this than just the business angle. There is also the Land angle.

Yeah, paying for water and sewer maintenance, police, roads and so on. Utter bullshit.

So many many people smuggly bragg that they OWN their own house, farm, ranch, land, etc. Yet the mere existance of property taxes tell us all who really owns or thinks they own all that land, the State. The State is the Collective that 'holds all the land in a public trust to be leased out to whomever it deems appropriate by payment of the least amount commonly known as property tax."

I don't know about you but the rest of us must be living in a different time dimension. I don't know anybody whose daddy has a million dollar business let alone a 3.5 mil one! LMAO Grow a set and earn it yourself instead of waiting for the old man to kick the bucket. Just sayin.....

Actually, the opposite. The elites keep their wealth largely through inheritance and a tax on passing wealth down the generations is the single biggest source of pain for them since it's also the single biggest means they have to ensure they preserve their status. The biggest con they've managed to pull (aside from their foundations being about 'charity') is that the average person or even the average reasonably well-to-do person would be adversely affected by the inheritance tax.
That it's farmers, or people like you and me who have built up a business with rolled-up shirtsleeves and greased palms that will get screwed. Utter and complete nonsense.

Again, I urge people to read this book: [link to www.bainvestor.com] by David Cay Johnson. He outlines very clearly the scams they've managed to perpetrate on the middle class.