[rollei_list] Re: OT Estate Tex (was Re: Copyright Law)
- From: "Austin Franklin" <austin.franklin@xxxxxxxxxxx>
- To: <rollei_list@xxxxxxxxxxxxx>
- Date: Thu, 3 Dec 2009 10:17:06 -0500
Hi Eric,
> Hi Austin, the idea that the Estate Tax makes it impossible for
> families to continue in family businesses is for the most part a
> myth... a fabrication concocted by the same political hacks who
> labeled this a "Death Tax" for the sensational impact and PR value it
> would have.
I didn't say it was impossible, but it is prohibitive and can and has caused
problems for families who want to continue in their family business. It's
not a myth or fabrication. Though, I agree, there are mechanisms in place
to potentially help with this issue.
Whether it sounds "sensational" to you or not, it is a "death tax". Any
proof that some "political hack" came up with that term? That sounds
sensational to me ;-)
> Second, as a person who deals with science, you should understand that
> anyone who has assets worth several million dollars is in the top
> percentiles of wealth in this country...
So what? So, that means that money that they already paid their %50
progressive taxes on should be taxed yet again so the total tax is %75?
And, back to the savings issue...this discourages savings. It encourages
frivolous spending.
> Finally, with a bit of estate planning, all of this can be dealt with
> above legally and above board.
To a certain degree, yes. IF what you say was true, then why complicate
things, and make people lose significant money on "technicalities"? And IF
this is avoidable, why have it in the first place? Sounds more like a game
than anything else.
> Now, I am not arguing that our tax system is perfect or that it is not
> in need of reform... but I am trying to get factual information out
> there...
I'm not sure what facts you're arguing (at least with me). This is a matter
of opinion as to whether a %75 tax is fair or not. Unfair is unfair as far
as I'm concerned, no matter how much of the population it effects.
And, why can Mickey Mouse stay "in the family" with no penalty when it's
creator dies, but not other family assets?
Regards,
Austin
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